Homes for Sale in Hyrum, Utah

Hyrum’s residential market is currently in a cooling phase. The median closed price of $450,000 sits 11.8% below Utah’s $510,000 benchmark, and homes are staying on the market longer—85 days versus the state’s 79—while the sale‑to‑list ratio remains near parity at 99.1%. Activity has slowed markedly, with a 35.7% month‑over‑month price decline and only 26 transactions closed against 50 new listings, creating a modest buyer’s‑market environment. Single‑family homes are an exception, posting a healthy median of $508,000 and a 16.8% year‑over‑year price gain, whereas townhomes and condos are lagging, down 20.3% YoY. The broader economic backdrop supports this cooling trend. Mortgage rates, after hovering near a three‑year low earlier in the year, have risen to 6.42% for the 30‑year loan, the highest level in the six‑month window, while the 15‑year rate also ticked upward. Unemployment remains stable (U.S. 4.4%, Utah 3.6%) and consumer sentiment is steady at 56.4, but higher financing costs are likely tempering buyer enthusiasm. Regional news about stable mortgage rates and local regulatory changes (e‑bike law) have limited direct impact on housing demand, reinforcing the current balanced‑to‑cooling market temperature for prospective homebuyers in Hyrum.