Homes for Sale in Price, Utah

The Price, Utah housing market is currently in a cooling phase. Over the past three months the median closed price slid to $290,000—a 36.2% drop from the prior month—and sits 43% below the Utah statewide median. Homes are lingering longer, with an average of 122 days on market, 55% more than the state average, while the sale‑to‑list ratio stays healthy at 96.3%, indicating that motivated sellers can still fetch near‑list offers. Inventory remains modest, with 63 single‑family homes listed and only 41 transactions closed, suggesting limited buyer competition but also a cautious buyer pool. Economic indicators reinforce this slowdown. The 30‑year mortgage rate, after a brief dip to 6.06% in March, has risen again to 6.42% in the most recent month, marking a 30‑day upward trend that pressures affordability. Unemployment rates are stable (U.S. 4.4%, Utah 3.6%) and consumer sentiment has plateaued around 56, while housing starts and permits have leveled off, hinting at a steady but not expanding supply environment. Regional news of an “as‑is” selling trend in Orem reflects growing buyer sensitivity to repair costs, a factor likely to temper demand in Price as well. Buyers should expect continued price concessions, longer search times, and the need for careful budgeting given rising financing costs.