Wasatch Front home prices have never been higher, hitting a median sales value of $300,000 in the second quarter of 2017.
According to figures released Thursday by the Salt Lake Board of Realtors, that’s up $25,000, or 8.1 percent, over the same period a year ago. Since then, sales prices rose in all but two of the 85 ZIP codes within Salt Lake, Utah, Davis, Tooele and Weber counties.
A shortage of homes on the market is helping to fuel these escalating prices. Many would-be sellers are sitting tight because it’s so hard to find a new, affordable home after they part with the one they’re in.