Sales of Wasatch Front homes above the million-dollar mark increased 59 percent in 2017 compared to the previous year, according to data from UtahRealEstate.com. A roaring economy and wealthy transplants are fueling the trend. Last year 257 housing units across the five-county area (Salt Lake, Davis, Utah, Weber, and Tooele counties) sold for $1 million or more. Last year’s sales are a 101 percent increase compared to just 128 units sold in 2014. Nearly three of every four homes sold above $1 million in 2017 were priced from $1 million to $1.5 million. It remains a challenge to sell a home above $1.5 million, even in today’s strong economy. The cumulative days on market for million-dollar homes sold in 2017 was 88 days, down from 118 days in 2016.
Source: Salt Lake City Board of Realtors