Utah’s real estate market has been hot nearly the whole year. How did it perform in November? Homie has your update!
Data from Utah MLS from November 1, 2020 to November 30, 2020.
According to data from the Utah MLS, Utah had 4,335 sales from November 1, 2020 to November 30, 2020. Of those sales, 75.6% were single-family homes, while 24.4% were multi-family residences.
The sales this month are slightly lower than the 5,602 sales in October of this year, but it’s a +18% increase from November 2019, which is an even larger percentage increase than the year-over-year comparison we saw in October. This means the market is following the usual end-of-year slowdown, but the market is still quite strong compared to a year ago.
Even though monthly sales saw the usual end-of-year slow-down, sale prices continued to rise. At $379K, Utah’s median sale price rose +2.4% from October of this year and 16.8% from November 2019.
List prices in Utah rose during November along with sales prices. November’s median list price per square foot was $175.92, which is up from the previous months’ median of $170.25 per square foot.
Homes in Utah continue to sell quickly. The Average Cumulative Days on Market (DOM) during November was 9. This is a 72% decrease from November of last year. Prospective Utah homeowners will need to act quickly to get the homes they’re interested in.
A total of 182 homies listed their homes with Homie during the month of November. This number is up from 154 during the same time period last year.
Homie’s local real estate agents can help you navigate Utah’s hot housing market and find your ideal home. Work with a Homie to get an amazing deal whether you’re buying or selling. Click the links to get in touch with your dedicated agent.