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2015-01-07 00:23:58
December 2014 Salt Lake & Davis County Real Estate
 

 

The Salt Lake & Davis Real Estate Market for December, 2014

According to the new data released by the Salt Lake Board of REALTORS®, the Salt Lake & Davis County Real Estate market is steadily selling inventory, while also gaining more home buyers, following the same trends from October & November. Even with an increased number of sales from 2013, the average days on the market numbers are still remarkably high, compared to this time last year. When local data shows conflicting information like this, it is usually a sign that the market will be shifting soon. I'm expecting 2015 to continue in sales growth, as it has over the past year. Let's take a look at the December 2014 real estate market numbers for Salt Lake & Davis Counties:


December 2014 Salt Lake City & Davis County Real Estate Statistics

- New Listings: 944 (Up +20.9% from last year)
- Sold Listings: 1021 (Up +6.5% from last year)
- Total Active Listings: 4,874 (Down -8.6% from last year)
- Average Sales Price: $255,000 (Up +1.96% from last year)
- Total Under Contract: 1,961 (Up +13.2% from last year)
- List To Sold Price Ratio: 95% (Almost the same as last year)
- Days on the Market: 45 Days (Up +13.3% from last year)

 



It's interesting to note that the 'Days on the Market' stats are higher than average, but the overall 'Sales Under Contract' for this December are up. Usually, with depleting inventory and an increase in homebuyers, the days on the market will lower as the demand increases. This will be an important number to follow over the next few months as it will help to determine a shift in the market. It's likely that there were some properties sold with very high days on market that are causing this number to be so high. I expect it to go down to around 60 days on average in 2015.

If you have any specific questions about the market or if you need help buying and/or selling real estate in the Slat Lake City area, let me know; I would love to hear from you. 

And As Always, Your Realtor® or Not, I'm Here for you.

 


 

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Jason Heitz is a Full-time REALTOR in the Salt Lake City, Utah and Surrounding areas who enjoys creating unique content for the real estate community. He is dedicated to his Family, his Career, and to understanding and implementing new ideas within the real estate industry. He also enjoys new technology and is consistently learning different practices and techniques to help this website perform to it's top potential.

 

 
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