Utah started 2024 with a total of 5,905 single-family homes on the market, with a median home price of $659,000 and an average price per square foot of $317.33. By the end of the year, inventory had increased to 7,270 homes on the market (+23%), with a median home price of $649,950 (-1%), and an average price per square foot of $309 (-3%).
At the start of 2024, the median days on market (DOM) was 77 days – by the end of the year, median DOM had decreased to 77 days.
Utah started the year with 34.33% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 36.84% of homes for sale had taken a price cut.
