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Market Update | My UT Real Estate Group with All American Realty Blog

Tuesday, September 6, 2022   /   by Elissa Tran

Monthly Market Update for August 2022 in Salt Lake County

Back to School Back to Business! 
 
Here is YOUR Monthly Market Update for August 2022 in Salt Lake County.


 
Active
 
Exciting News for those who struggled to get under contract with multiple offers, You NOW have more homes to choose from! We are seeing over double the inventory with an average of 118% increase year over year on active inventory.  This means you have more options when finding your new home.

 
Under Contract
With increasing interest rates coupled with accelerated appreciation over the last 2 years, we are seeing a slowdown in the number of properties going under contract with an average decrease of 29% compared to last August.

 
  
SOLD
 
We saw an accelerated average appreciation from last August to this May, from May to July we saw a slight decrease in home sales, and now we are seeing a bounce back on an upward trend. Meaning home prices are still higher than this time last year but are not goi; ...

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  market update

My UT Real Estate Group with All American Realty
Staci Powell
3297 W Provost Cir
South Jordan, UT 84096
801-913-2463

Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of December 1, 2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The multiple listing information is provided by Wasatch Front Regional Multiple Listing Service, Inc. from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2022 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Conspicuous display of the following: Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
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