Orem, UT Home Values & Market Trends
Real estate market trends reflect that there have been 918 transactions over the past year in Orem. The median value for residential home transactions that occurred over the previous year is $503,703.5. The number of current listings in Orem is 39, and the percentage of properties for sale in the city is 39.00%. Orem, UT currently has 19 properties in foreclosure, 0 bank owned properties, 3 properties headed for auction, and 39 properties for sale.
Orem, UT Real Estate Market Overview
Housing Market Summary for Orem, UT
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $525K | $494.5K | -5.80% |
| Median Sold Price | $500K | $494.5K | -1.10% |
| Homes For Sale | 40 | 33 | -17.50% |
| Homes Sold | 799 | 724 | -9.39% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Orem, UT
Browse Homes in Orem, UT
Orem home values range from $123,695 to $8,834,614. The median estimated value of a home in Orem is $503,703.5. The median list price of a home is 520,000, and the total count of properties in the city is 23,155.
- Pre-ForeclosurePre-foreclosure homes account for 0.07% of all residential properties in Orem, UT with 84058 containing 6 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 3 zips within Orem, UT; of those zips, the estimated home value for pre-foreclosure homes ranges from $1,092,843 in 84057 to the lowest home value of $293,335 in 84058.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Orem, UT ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Orem, UT. There are 3 zips within Orem, UT; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions84058 has 1 auction properties, the highest number of properties going to auction in a single zip in the state of Orem, UT. Auction homes and other auction properties account for 0.01% of all properties in Orem, UT. There are 3 zips within Orem, UT; of those zips, the median estimated home value for homes going to auction ranges from $930,762 in 84058 to the lowest value of $500,444 in 84058.
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Guide for Orem, UT
The Salt Lake City real estate market is experiencing significant shifts, as average property values have dropped citywide. However, neighbourhood trends vary, with West Valley City seeing a slight rise in property values, while others like North Salt Lake show a decline. This fluctuation highlights the importance of localized analysis in real estate investment.
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