New report shows Salt Lake County home prices continue to fall except in a few cities
According to the Salt Lake Board of Realtors, the median single-family home price in Salt Lake County for January was $533,5000, 9% lower when compared to January 2022.
“Mortgage interest rates continue to hinder sales,” said Rob Ockey, president of the Salt Lake Board of Realtors in a press release. “However, we expect the 30-year mortgage rate will trend lower in the coming months...” That's the fewest number of homes sold in a single month since January 2011, when 571 sales were made, the Salt Lake Board of Realtors reported.
In Salt Lake County's Canyon Rim area, the single-family median home price increased to $1.1 million, which is up 36% from $810,000 in January 2022.
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