Salt Lake County Annual Home 2016

Summary of how the Salt Lake County Utah housing market performed in 2016.

2016 Annual Housing Market Update

2016 was another good year for the Salt Lake County housing market. The median sales price for a home in Salt Lake County climbed 6.64% to stand at $265,000. While prices were up, the number of new homes coming into the market remained flat. There were 22378 new home listings and 17939 homes sold in the year (up 3.54%). The number that stood out was the median days on market, which is the median number of days it takes a new home listing to go under contract. For 2016 this was just 14 days, a very good number, and the sign of a strong sellers market. This number was actually 36.36% better than in 2015.

Single Family Home Sales

The median sales price of a single family home nearly broke the $300,000 level, standing at $295,000 (up 8.10%). Number of homes sold in the quarter was pretty much flat, with 13,544 homes sold (up 0.95%) and 17,255 new listings (down 2.48%). It took just a median of 13 days for a new home listing to go under contract, 38% faster than last year.

Condo Home Sales

The condo real estate market was if anything even stronger than that of single family homes. The median condo sales price climbed 7.94% to stand at $169,900. The number of condos sold in 2016 saw a sharp rise, with 1,946 sales, up 8.59% on 2015 and the number of days on market fell sharply to stand at 14 days (a very impressive 57.58% better than 2015).

Zip Code City Property Type Median Price Percentage Change
84009 * South Jordan Single Family $380,000 up 4.11%
84009 * South Jordan Condo $197,450 N/A
84020 Draper Single Family $445,000 up 5.70%
84020 Draper Condo $220,000 up 26.22%
84044 Magna Single Family $196,750 up 12.43%
84044 Magna Condo $114,000 up 29.99%
84047 Midvale Single Family $245,000 up 6.99%
84047 Midvale Condo $141,900 up 3.77%
84065 Riverton Single Family $359,639 up 10.66%
84065 Riverton Condo $167,500 down 23.43%
84070 Sandy Single Family $268,500 up 11.88%
84070 Sandy Condo $165,450 up 4.75%
84084 West Jordan Single Family $250,000 up 8.74%
84084 West Jordan Condo $159,000 up 6.00%
84088 West Jordan Single Family $279,000 up 11.60%
84088 West Jordan Condo $195,700 up 7.23%
84092 Sandy Single Family $395,000 up 4.41%
84092 Sandy Condo $430,000 N/A
84093 Sandy Single Family $362,250 up 3.50%
84093 Sandy Condo $269,000 N/A
84094 Sandy Single Family $280,000 up 7.69%
84094 Sandy Condo $166,900 up 26.44%
84095 South Jordan Single Family $397,500 up 11.34%
84095 South Jordan Condo $199,725 up 9.74%
84096 Herriman Single Family $337,000 up 6.95%
84096 Herriman Condo $175,000 down 3.71%
84101 Salt Lake City Single Family $177,000 up 5.99%
84101 Salt Lake City Condo $275,000 up 16.40%
84102 Salt Lake City Single Family $345,000 up 12.02%
84102 Salt Lake City Condo $191,000 up 8.83%
84103 Salt Lake City Single Family $487,000 up 9.07%
84103 Salt Lake City Condo $197,500 up 6.18%
84104 Salt Lake City Single Family $169,000 up 9.03%
84104 Salt Lake City Condo $65,500 N/A
84105 Salt Lake City Single Family $381,000 up 13.73%
84105 Salt Lake City Condo $392,100 N/A
84106 Salt Lake City Single Family $312,000 up 11.47%
84106 Salt Lake City Condo $163,500 up 9.00%
84107 Murray Single Family $270,000 up 6.95%
84107 Murray Condo $126,500 up 5.46%
84108 Salt Lake City Single Family $472,400 up 7.36%
84108 Salt Lake City Condo $286,000 up 10.42%
84109 Salt Lake City Single Family $395,000 up 12.86%
84109 Salt Lake City Condo $160,000 up 14.29%
84111 Salt Lake City Single Family $252,000 up 12.00%
84111 Salt Lake City Condo $229,500 down 0.22%
84115 South Salt Lake Single Family $225,000 up 10.97%
84115 South Salt Lake Condo $109,500 down 19.93%
84116 Salt Lake City Single Family $210,000 up 16.67%
84116 Salt Lake City Condo $74,500 down 1.08%
84117 Holladay Single Family $410,000 up 10.95%
84117 Holladay Condo $150,000 up 20.48%
84118 Taylorsville/Kearns Single Family $210,000 up 10.58%
84118 Taylorsville/Kearns Condo $97,550 N/A
84119 West Valley City Single Family $210,000 up 15.07%
84119 West Valley City Condo $137,000 up 9.60%
84120 West Valley City Single Family $213,125 up 9.86%
84120 West Valley City Condo $184,000 N/A
84121 Cottonwood Single Family $375,000 up 11.94%
84121 Cottonwood Condo $197,000 down 8.37%
84123 Taylorsville/Murray Single Family $274,000 up 10.15%
84123 Taylorsville/Murray Condo $118,600 up 1.15%
84124 Holladay Single Family $418,050 up 12.83%
84124 Holladay Condo $221,050 up 6.79%
84128 West Valley City Single Family $230,000 up 10.50%
84128 West Valley City Condo $178,097 up 17.91%
Data for home prices information provided by WFRMLS.
* The 84009 zip code was added to South Jordan in the 3rd quarter 2015.