For the last 30 days in Salt Lake County:
Average days on market: 13
Average list price: $630,499
Average sales price: $648,274
Total sales: 1,288
Homes available: 1,329
Here are some historical facts for you:
1) In a normal market, the days on market averages 120-180 days. We are still WAY below that.
2) Average sales price is normally 97% of average listing price, not 103% of it.
3) Lastly, there's normally 5,000 +/- homes available to purchase on the market, today we are at 1,329.
Yes, the market is slowing, but seller FOMO has not gripped the Salt Lake market yet, not even close.