Market Overview
balancedSalt Lake County’s median home price of ~$565 K is about 12% above the Utah statewide median, while days‑on‑market are roughly on par with the state average.- •Median closed price: $565,000 (SFR median $721,489, Townhome/Condo median $409,727)
- •Sale‑to‑list ratio: 99.2% – buyers are paying almost list price
- •Average days on market: 50 days, indicating moderate buyer activity
- •Inventory: 2,090 single‑family homes active + 1,450 townhomes/condos active; 622 + 359 under contract
- •Mortgage rates stable around 6.4% (30‑yr) with no major shift in the last 30 days
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Frequently Asked Questions About Salt Lake County Real Estate
Salt Lake County, Utah is currently a balanced market. Salt Lake County’s median home price of ~$565 K is about 12% above the Utah statewide median, while days‑on‑market are roughly on par with the state average.
Home prices in Salt Lake County, Utah have remained flat by 0.0% over the past year. The median sale price went from $550,000 to $550,000 (0.0%).
The Salt Lake County residential market remains balanced, with a median closed price of $565 K and a near‑list sale‑to‑list ratio of 99.2%, suggesting that buyers are still meeting seller expectations but without extreme bidding wars. Single‑family homes command a higher median price ($721 K) than townhomes and condos ($410 K), and inventory levels are modest—about 3,540 active listings versus 3,871 closed transactions in the past three months—keeping the average time on market at 50 days. Major hubs such as Salt Lake City, South Jordan, West Jordan, Herriman, and Sandy reflect these county‑wide trends, with each city seeing similar price pressures and turnover rates.
Economic fundamentals support this equilibrium. Mortgage rates have held steady, hovering around 6.4% for the 30‑year loan, while the Fed Funds rate remains unchanged at 3.63%. Unemployment stays low (Utah 3.6%, national 4.2%), and consumer and real‑estate sentiment indices are flat, indicating no major shifts in buyer confidence. Housing starts and building permits have been steady at roughly 1.5 million units and 1.38 million permits respectively, suggesting supply will keep pace with demand in the near term, reinforcing a balanced market outlook for prospective homebuyers. The market temperature is rated "balanced." Salt Lake County’s median home price of ~$565 K is about 12% above the Utah statewide median, while days‑on‑market are roughly on par with the state average.