It may be 👻 season, but these stats are anything but scary.

Hi friends,

Happy Fall! As LM Montgomery put it, “I’m so glad I live in a world where there are Octobers.”

We are too — and the current state of the real estate market sure doesn’t hurt. Leaves are falling, SLC’s median sales price is rising, and inventory is expanding fast. We can’t help but wonder, is listing in the fall the new listing in the spring?

Median sales prices skyrocketed by 3% from August to September, and by 2% compared to the last three month’s average. In tandem with rapidly increasing housing inventory, sellers who take a proactive approach and list their homes this fall could close at a higher price than those who wait till after the holidays.

In September, Months Supply of Inventory skyrocketed by 44% from August, indicating Salt Lake City’s real estate market is following a similar pattern as markets around the country.

According to Realtor.com, an uptick this late in the season is abnormal and indicates housing inventory will continue its upward trajectory, increasing competition in traditional listing months.

Chief Economist at Zillow, Skylar Olsen, believes supply and demand imbalance will continue to strengthen home value until the beginning of 2024.

While inventory is still low compared to previous years, sellers have a window of opportunity to capitalize on higher median sales prices and relocate to a more aligned home in time for the holidays.

Speaking of which, nothing’s more festive and exciting than immediately getting to warm your new space with family, friends, and that beautiful sense of togetherness we look forward to all year long.

If you’ve been thinking about selling, we’d love to talk it through and ensure you receive the top price for your home. Simply schedule a free consultation using the link below or reach out to 801.949.9878.

Looking forward,

Julia and Kate