vibrant city life, access to world-class outdoor recreation, and growing real estate market makes it an increasingly attractive option for those looking to expand their property portfolio or secure a vacation retreat.
June 2025 Real Estate Market Snapshot
As of June 2025, the median home price in Salt Lake City has climbed to $589,000, reflecting a steady 8.5% year-over-year increase. Homes are spending an average of 51 days on the market—a slight decrease from earlier in the year, suggesting continued buyer interest and market activity.
Top Reasons to Consider a Second Home in SLC
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Diverse and Livable Neighborhoods
From the historic charm of The Avenues to the upscale serenity of Holladay and the outdoor access of Olympus Cove, Salt Lake City offers something for every lifestyle. -
Outdoor Lifestyle Year-Round
With renowned ski resorts, hiking trails, and national parks just a short drive away, SLC is ideal for those who want easy access to nature while maintaining a city-based home base. -
Possible Tax Benefits
A second home may offer tax advantages, such as deductions on mortgage interest, property taxes, and certain rental expenses—though you should consult your tax advisor for personalized guidance.
What to Keep in Mind Before Buying
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Assess Your Finances
Make sure you have a clear picture of your budget, factoring in not just the purchase price but also ongoing costs like maintenance, property taxes, and insurance. -
Know the Market
Local trends matter. Research neighborhood dynamics and growth patterns to help time your purchase wisely. -
Define Your Goals
Whether you plan to use the home as a seasonal getaway, a rental income source, or a long-term investment, your usage goals should shape your buying strategy.
New Trend to Watch: Co-Ownership
Co-ownership continues to gain momentum in 2025. This model allows multiple parties to purchase a property together, sharing both usage time and expenses—making second homeownership more affordable and accessible.
Final Thoughts
Salt Lake City remains a strong contender for second homebuyers in 2025. With rising property values, a desirable lifestyle mix, and growing ownership options, now may be the perfect time to make your move.
