Our 2019 Yalecrest Spring Real Estate Report shows strong 1st quarter home sales with optimistic increases over most market indicators. Between 2018 and 2019, 1st quarter median selling price rose 14.7%. The average Yalecrest-area home sold for $500,000 in March 2018 and rose to $525,000 this year. Cost per square foot has remained relatively stable over the last several months, hovering around $233/SF and at nearly the exact same price as last year.
First quarter 2019 inventory is similar to 2018 numbers and reflects typical seasonal real estate downturns. Overall, homes are trending to sit on the market longer in 2019 than last year, especially those that are larger and overpriced.
Expect Yalecrest home prices to rise 5-10% this year coinciding with general Salt Lake County home price projections. You will also see typical seasonal upticks in most indicators during the 2nd quarter.
The Yalecrest area can look forward to a steady and robust market in 2019!