Newly released data from Realtor.com for February shows that potential buyers and sellers in Washington County saw houses sell for lower than January's median sales price of $462,187.
The median home sold for $428,315, an analysis of data from Realtor.com shows. That means February, the most recent month for which figures are available, was down 7.3% from January. Included in these sales are single-family homes, condominiums and townhomes.
Compared to February 2023, the median home sales price was down 13% at $428,315 compared to $492,267.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.thespectrum.com.
Here is a breakdown on median sale prices:
- Looking only at single-family homes, the $472,031 median selling price in Washington County was down 10.1% in February from $525,000 the month prior. Since February 2023, the sales price of single-family homes was down 5.6% from a median of $500,000. Eleven single family homes sold for $1 million or more during the month, compared to eight recorded transactions of at least $1 million in February 2023.
- Condominiums and townhomes increased by 4.6% in sales price during February to a median of $364,990 from $349,029 in January. Compared to February 2023, the sales price of condominiums and townhomes was up 0.8% from $361,965. One condominium or townhouse sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in February 2023.
About recorded home sales in Washington County and Utah
In February, the number of recorded sales in Washington County dropped by 19.4% since February 2023 from 423 to 341. All residential home sales totaled to $89 million.
In Utah, homes sold at a median of $485,071 during February, up 3.2% from $469,988 in January. There were 3,276 recorded sales across the state during February, down 3.1% from 3,381 recorded sales in February 2023.
The total value of recorded residential home sales in Utah increased by 15.8% from $911.9 million in January to $1.1 billion this February.
Out of all residential home sales in Utah, 2.72% of homes sold for at least $1 million in February, down from 3.19% in February 2023.
Sales prices of single-family homes across Utah increased by 4.4% from a median of $493,750 in January to $515,566 in February. Since February 2023, the sales price of single-family homes across the state was up 3.1% from $500,000.
Across the state, the sales price of condominiums and townhomes dropped 0.7% from a median of $360,000 in January to $357,358 during February. The median sales price of condominiums and townhomes is down 1.8% from the median of $363,712 in February 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
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