Utah’s housing market has been a wild ride, and if you’re looking to buy, sell, or just understand where things stand, you’re not alone. Home prices are high, interest rates are unpredictable, and affordable housing seems harder to find than a decent parking spot in downtown Salt Lake. So, what does this mean for you? We spoke with real estate expert and attorney Asha Klarich to break it all down.
Are Utah Home Prices Really That High?
Yes, and they’re not dropping anytime soon. The average home in Utah now costs $517,000, a 1% increase from last year. While that might not seem like much, Klarich points out that demand is still strong, especially in the Salt Lake Valley.
“People still want to live in Salt Lake, but the rising prices mean buyers are adjusting expectations,” she says. “They’re looking at townhomes, condos, and moving farther into the suburbs.”
If you were hoping to snag a single-family home in the heart of Salt Lake City, you’re likely out of luck unless you’ve got deep pockets or serious renovation skills…