Homes for Sale in Lake Point, Utah

Lake Point’s residential market continues to command a premium over the broader Utah market, with a median closed price of $580,000 versus the state’s $510,000. However, the recent 13.2% month‑over‑month price decline and a slightly higher average days‑on‑market (81 days) suggest the market is losing some of its earlier momentum. Inventory remains modest, with 26 active single‑family homes and only 10 transactions closed in the past three months, keeping the sale‑to‑list ratio at a solid 100% but hinting at limited buyer choice. On the macro side, mortgage rates have begun to climb again, reaching 6.42% in April after a short dip to 6.06% in February, which could dampen purchasing power as rates rise. Unemployment rates are stable (U.S. 4.4%, Utah 3.6%) and consumer sentiment holds steady around the mid‑50s, while housing starts and permits show continued construction activity. Combined with regional news that mortgage rates are still near a three‑year low, Lake Point’s market appears balanced—still attractive for sellers but showing early signs of cooling for buyers.