Homes for Sale in Morgan, Utah

Morgan’s residential market remains on the hotter side of balanced, driven by a striking 52.1% month‑over‑month price jump and a median price that is roughly 8% above the Utah average. Buyers are competing aggressively, as reflected by a 97.1% sale‑to‑list ratio and a 4.6% faster turnover (75 days on market vs. 79 statewide). The limited supply—only 20 closed sales against 30 new listings in the last quarter—has kept inventory tight, especially in the single‑family segment where the median price sits at $661,000, a 19.1% year‑over‑year increase. On the macro side, mortgage rates, which have hovered near a three‑year low nationally, are now edging higher, with the 30‑year rate rising from 6.06% to 6.42% in the past 30 days. The Fed Funds rate has stabilized at 3.64%, and both national and Utah unemployment rates remain steady (4.4% and 3.6% respectively), supporting buyer confidence. Consumer sentiment has held at a solid 56.4, and housing starts have plateaued, suggesting no imminent surge in new supply. Together, these factors point to a “warm” market: strong price momentum and low inventory, tempered slightly by the recent uptick in borrowing costs.