Fall is officially here, and while home prices on the WFRMLS (that’s Wasatch Front Regional MLS) haven’t dipped, buyers are definitely beginning to take their time, creating an uptick in days on market.
September 2022:
• Average price of a single-family home sold on the WFRMLS was $611,370, up 8.3% from the previous year (and up 2.27% from the previous month).
• Average days on market on the WFRMLS were 41 (up 78.3% from the same time last year).
• Number of units sold on the WFRMLS in September was 3,284, down 27.3% from last year.
It looks like everyone—buyers and sellers, alike—is taking a beat to slow down and assess before diving in. Homes are being priced less ambitiously and more realistically, which is healthy for the market (and a welcome change for first-time buyers!).
If you’re on the hunt for home or ready to move on from the one you’re in, our team of seasoned realtors is here and happy to chat you through your options in this ever-changing market.
