Homes for Sale in Washington Terrace, Utah

Washington Terrace’s residential market remains attractive for buyers seeking value. The median closed price of $385,000 is roughly $125,000 below the Utah statewide median, yet prices are gaining momentum, rising 3.9% month‑over‑month. Homes are moving quickly, with an average of 69 days on market—12% faster than the state average—and a sale‑to‑list ratio of 98.7%, suggesting that listings are priced competitively and buyers are comfortable meeting those prices. Single‑family homes dominate activity, accounting for 25 of the 26 recent sales, while condo and townhome inventory remains limited. On the macro side, mortgage rates have begun to climb again, with the 30‑year rate increasing from 6.13% to 6.42% over the past month, the only upward move in an otherwise declining six‑month trend. Unemployment remains low and stable (Utah 3.6%, U.S. 4.4%), and consumer sentiment has held steady around the mid‑50s, supporting buyer confidence. Together, these factors keep the market in a balanced state: price appreciation and swift sales are tempered by rising financing costs, making Washington Terrace a solid, value‑oriented option without the heat of a hot market.