Is Salt Lake City the Hottest Market in the US?

If someone asked you to name the hottest housing market in America I don’t think UTAH would come to your mind. However, the hottest market in the country just might lie within Utah’s mountainous borders, here’s why:  

#1 – JOBS

Salt Lake City was listed on Forbes.com as the 12th best place for business and careers. This is driven by Fortune 500 companies like Huntsman, Novus, and Delta Airlines. Salt Lake was also named as one of the “10 Best Places To Retire In America In 2013” by Huffingtonpost.com.  

#2 – Market Performance

According to realestate.com the median days on market for homes in Salt Lake City is only 52, for comparison the average days on market nationwide is 69 as reported by inman.com. This means Salt Lake City homes sell over 30% faster than the national average. According to trulia.com while the number of listings has declined the average listing price continues to climb at a staggering rate of 20% week-over-week in the second quarter of 2014. Obviously this pace can’t continue over the long term but zillow.com has documented the year-over-year increase in property value at 8.7% which is very strong and much more sustainable.  

#3 – LIVABILITY

Salt Lake was listed as the 8th best place to live in the annual livability.com survey. It’s also well known for it’s world class ski resorts as it was the host of the 2002 winter Olympics. Camping, hunting, fishing, biking, hiking and more are there for you to explore if you’re into the outdoors and “smelling the roses”. Also, Salt Lake City has competitive sports like, the NBA’s Utah Jazz who plays in the Energy Solutions Arena and Major League Soccer’s Real Salt Lake who plays in nearby Rio Tinto Stadium.    Now It’s over to you. Have you ever sold real estate in Salt Lake City?  How hot would you rate the market, is it the hottest in the country? Also, don’t miss the last episode of this ongoing series, Is Virginia the Hottest Real Estate Market in the US?