April Housing Report published, closed home sales 24% up

Salt Lake City, Utah — According to the April Housing Report published by the Utah Association of Realtors, closed home sales were 24% up. In April 4,845 home sales were a record for the month.

“We are getting a record number of sales as homes go under contract not long after they are listed, which is keeping inventory at near record lows as demand continues to outpace supply,” said Deanna Devey, Director of Communications for the Utah Association of Realtors.

There was an increase of 26.8% from the same time in 2020, the median sales price of a Utah home in April 2021 was $425,000, while inventory at the end of the month was down just over 64% compared to last April.

“Utah needs more housing inventory, particularly for starter homes, to help keep housing in reach for Utah families,” said Devey.

The organization say, sellers are unloading their homes for an average of 103% of their asking  price.