Which city experienced the highest real estate appreciation rate in Salt Lake County in the past decade [2012-2022]? Here’s a hint, it’s not on the east bench.
Salt Lake County's real estate market has experienced explosive appreciation for the last ten years. Of course, some areas have appreciated much faster than others, but most homeowners in every SLC city should be sitting on hefty equity gains.
If you're looking to buy a home in the fastest-appreciating areas, this resource will help you determine where to invest your hard-earned money.
While the past can not predict the future, it does provide valuable insight. We gathered home sales data from every city in Salt Lake County to determine which areas appreciate at the highest rate. The results are fascinating.
Average sold prices can be skewed by a few extraordinarily high or low home sales in the area, so we used the median sales price to arrive at the most accurate results.
We placed all the single-family home sales data by the city in a spreadsheet below to study and arrive at your own conclusions.
This information should not be used to determine the appreciation of any individual home. The value of any particular home requires specific sales data based on sales in your area.
We'd be happy to provide a free, comparative market analysis (CMA) for anyone curious about the current market value of their Utah home.
10-Year Single Family Home Appreciation
As you probably noticed in the graphic above, different cities appreciate at different rates. Some areas will appreciate twice as fast as others. Indeed, every part of Salt Lake County and most towns in the state of Utah have seen significant real estate price appreciation.
Emigration Canyon experienced the lowest single-family home appreciation in the county and still increased by a whopping 91% over the past decade [2012-2022].
Copperton and Magna both saw an explosive 250% appreciation, with Kearns close behind at 236% appreciation.
10-Year Salt Lake County Home Price
Data source: Wasatch Front Regional Multiple Listing Service (WRMLS)
Median Sale Price
Now let's take a look at Salt Lake County single-family real estate appreciation as a whole.
SLC, UT, saw the median home price soar from $212,000 in 2012 to new heights of $606,000 in 2022. For homeowners fortunate enough to purchase a house in 2012 and sell in 2022, they rode the real estate rocketship up for a $394,000 profit or 186% gain. Not too shabby.
Congratulations to anyone lucky (nobody is that good) enough to have perfectly bought the bottom and then sold the top of the most significant real estate bull market of our lifetime.
Salt Lake County median home prices increased from $425,000 in 2020 to $533,000 in 2021, an astonishing 25% increase in home values. This was the highest year-over-year (YOY) price increase in the past decade.
Aaron Peters is the creator of DiscountAgent.com. Aaron has sold over $150,000,000 in Utah real estate and has over 110 five-star Google reviews.
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My Assistant Toeby
My name is Aaron Peters. I'm a full-time discount real estate agent in Utah and the creator of DiscountAgent.com. Thank you for taking time out of your busy day to read this blog post. I'm always open to suggestions from readers.
Toeby(a.k.a Toesy) was born with only three toes on his front left paw. Luckily for him, his only job requirement as my assistant is to nap and remind me that life isn't about sitting at my desk staring at a computer all day. Who's a good boy?
Contact me at 801.243.8900 If you own a company and would like to participate in an interview that is helpful to DiscountAgent.com readers.
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