Top Mega Teams in Utah – Ranked by Sides

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Rank – State SidesTeam NameCompanyLocationSidesProfile
1The Perry GroupThe Perry GroupSalt Lake City, UT 767.0View Profile
2Utah Life Real Estate GroupUtah Life Real Estate GroupFarmington, UT 728.0View Profile
4The Stern TeamKeller WilliamsSalt Lake City, UT 274.9View Profile
5Red Sign TeamKeller WilliamsOrem, UT 255.3View Profile

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2023 Utah Housing Market Summary

Utah started 2023 with a total of 6,447 single-family homes on the market, with a median home price of $620,400 and an average price per square foot of $294. By the end of the year, inventory had decreased to 6,085 homes on the market (-5%), with a median home price of $650,000 (+4%) and an average price per square foot of $311 (+5%).

At the start of 2023, the median days on market (DOM) was 77 days – by the end of the year, median DOM had remained the same at 77 days.

Utah started the year with 42% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 37% of Utah homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Utah started 2023 as a seller’s market, with an MAI score of 42; by the end of the year, the MAI had dropped to 37 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

Housing Market News

Lower mortgage rates attracting more homebuyers 

Sep 16, 2024By

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

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