Monica Cook Home and Lifestyles

The Salt Lake Board of Realtors and Utah Association of Realtors today released the official market statistics for Salt Lake County and Utah today. The big story is two fold: Home sales have gone up again in Salt Lake County for the 12th straight month, as the housing economy improves. However, because listings are staying stagnant, the housing inventory in the Salt Lake area is at a 15 year low, ... with only 4.9 months of inventory on the market. Some other points from today’s stats release: Median home prices increased to $199,950, up 7 percent compared to $187,000 of May 2011. We’re getting awfully close to having medians above $200,000 again. Average days on market is also down significantly, 68 DOM compared to 78 last May. Homes are selling more quickly. New listings in the SL market went down 3.6%, whereas they went up 2.4% statewide. Pending sales (i.e., under contracts) went up 29.5% compared to last May. People are getting more for their homes: an average of 95% of l...