Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Market Trends & Data
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago, 08/05/2022

User Stats

214
Posts
154
Votes
Alan Walker
  • Real Estate Agent
  • Salt Lake City, UT
154
Votes |
214
Posts

Market of the Moment - 8/5/2022

Alan Walker
  • Real Estate Agent
  • Salt Lake City, UT
Posted

We've seen a leveling off this week. Active homes dropped slightly, days on market are all double digit. Fewer price reductions and more expired listings.

Hard to say if we have reached "the new normal" yet.

Median sales price in Salt Lake County for the month of July is 600,000 per the MLS. Down 50,000 from two months before. That is less than 10%, correction territory. So far the trend is going down for median sales price, which is a relief to most.

We'll have to see what August's median sales price is to see if we are continuing down or if we are indeed leveling off to a new normal.

I'm not sure if it was RBG or Madonna that said, "You've got to let your body go with the flow". That's all we can do right now. Vogue.