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% |
| 84129 | Taylorsville | Single Family | $235,750 | up 7.45% |
| 84129 | Taylorsville | Condo | $130,000 | up 3.22% |