Homie’s Utah Housing Market Update October 2020

The real estate market fluctuates often. The local Utah market isn’t an exception! Here’s your monthly update on what’s happening.

Data from Utah MLS from October 1, 2020 to October 31, 2020.

Monthly Sales

According to data from the Utah MLS from October 1, 2020 to October 31, 2020 monthly sales in Utah are rising. At 5,602, there were 417 more monthly sales in October of this year than in September. This is a +15.4% increase from October 2019.

graph showing 5,602 monthly sales in Oct. 2020 compared to 4,213 in Oct. 2019

Data via Utah MLS.

List Price

It’s not just inventory that’s rising, but list prices are rising in Utah, as well. October’s median list price was $369K, a +12% year-over-year increase.

data bubble showing 369k as the median list price in Oct. 2020, 12% increase year over year

Data via Utah MLS.

Sale Price

At $370K, Utah’s sale median sale prices are sitting slightly higher than the median list price. This number is $50K, or +15.6%, higher than sale prices in October 2019.

graph showing median sale price at 370k in Oct. 2020 compared to 322k in Oct. 2019

Data via Utah MLS.

Days on Market (DOM)

Homes in Utah are flying off the market faster and faster all the time. October’s average number of Days on the Market was 9. The previous month’s average DOM was 11, while October of 2019 had an average of 29. This is a whopping -69% decrease. If you’re looking to buy a house, you’ll need to move faster than before.

graph showing average days on market in Oct. 2020 as 9 compared to Oct. 2019 at 28

Data via Utah MLS.

Number of Homes Listed With Homie

A total of 231 homies listed their homes with Homie during the month of October.

Stat showing 231 homes listed by Homie in Oct. 2020

Data via Homie Real Estate.

Turn to a Homie

Homie has local real estate agents in all of our service areas, including throughout Utah. These agents are pros in everything they do, and understanding the local real estate market is their passion. Click to start selling or buying and to get in touch with your dedicated agent.

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