The vast majority of Wasatch Front homes sell for less than $500,000. In 2020, 81 percent of homes sold on the
Wasatch Front sold for less the than half-million dollar mark. However, that percentage is down from 2019, when
87 percent of all homes were for less than $500,000. In 2020, 17 percent of homes sold were between $500,000
and $999,999. Just 2 percent of sales for homes priced at $1 million or higher. In 2019, 12 percent of all sales
were between $500,000 and $999,999, and 1 percent of sales were for homes above $1 million.
The article above is from the Salt Lake Realtor issue May 2021, and this gives us an insight about the trend about the
property price after closing. There is a decrease of sale for properties below $500,000 but that’s not bad, it simply
indicates that most homes sold above the half a million price range meaning that property prices are increasing due to
the demand for them compared to the supply of properties currently in the market. For the past couple of months it
rarely happens that a property is sold below the listing price of the seller, there are actually instances that a property is
sold for $30,000 above the listing price after closing.