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Market Update: May, 2024

As agents who are daily "in the field"—whether it's writing contracts, showing properties, negotiating prices, or hosting open houses—it's easy to assume that everyone is privy to the many fine points and shifting variables of what we do.

The Utah real estate market sees new data every week, so each month, we'll give you a look at a few relevant stats for Salt Lake County and Park City. We're just here to get you invested, informed, and (hopefully) in the home that's meant for you.

Salt Lake County Real Estate Market Update, May 2024
salt lake county real estate market infographic

Summary: Year over year, we're not looking at a substantial change in average days on market or median sales price (roughly a 2.5% increase for both, to be clear). However, the number of new listings is over 20% higher than in May of 2023, when we saw just 1,500 properties hitting the market. In addition, closed sales for the month are up by nearly 7% in 2024.

Park City Real Estate Market Update, May 2024
park city real estate market inforgraphic

Summary:  Just as with Salt Lake County, we're seeing our biggest jump for Park City in the number of new listings for May—a roughly 35% increase over May of 2023. Likewise, properties here are seeing a bit more time on market, as well, at over 100 days on average (a 16% increase from last year at this time).


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