Utah Real Estate Market Update | June 2024

Utah Real Estate Market Update | June 2024

Welcome to our June 2024 Utah Real Estate Market Update! In this update we go over current home prices, pending sales, inventory and more!

In this update, we are taking a closer look at numbers from May of 2023 in comparison to May of 2024. It appears that sellers may be starting to feel some pressure. However, amidst these trends, there are still unique options available for buyers, especially considering current rates and prices. New listings have increased by approximately 22%, yet there has been a noticeable drop in pending sales. Days on market have seen a minimal decrease of just 2% in Utah, suggesting a relatively stable trend. Median sales prices have risen by nearly $20,000 since last May, while the percentage of list price received has increased by 0.6%. Additionally, there has been an uptick in the inventory of homes for sale, rising from 10,052 last May to 11,336 this May. These indicators suggest that the buyer pool may be leveling off or even shrinking, with demand potentially starting to decrease.

May 2024 | Utah Update

May 2024 | All Counties

May 2024 | Housing Supply Overview

May 2024 | Monthly Indicators

May 2024 | Q1: Quarterly Activity

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