Market Overview
balancedTooele County’s median home price of $460 k is roughly $90 k below the Utah median, with longer days on market, indicating a more buyer‑friendly environment than the state overall.- •Sale‑to‑list ratio remains high at 99.3%, showing homes still fetch near‑list prices.
- •Median price for single‑family homes is $589 k, while townhomes/condos sit at $352 k.
- •Inventory is ample: 335 active SFR listings and 42 active condos, with 70‑day average market time.
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Frequently Asked Questions About Tooele County Real Estate
Tooele County, Utah is currently a balanced market. Tooele County’s median home price of $460 k is roughly $90 k below the Utah median, with longer days on market, indicating a more buyer‑friendly environment than the state overall.
Home prices in Tooele County, Utah have decreased by 8.7% over the past year. The median sale price went from $468,385 to $427,500 (-8.7%).
The Tooele County market is currently balanced, with a median closed price of $460 k and a sale‑to‑list ratio of 99.3%, indicating that buyers are still paying close to asking prices. However, homes are staying on the market for an average of 70 days, and the inventory of new listings (509) exceeds the 346 closed transactions over the past three months, suggesting that supply is outpacing demand. Single‑family homes dominate the market (289 sold) with a median price of $589 k, while townhomes and condos are priced lower at $352 k and represent a smaller share of activity.
Economic indicators over the past six months show stable but slightly rising mortgage rates (30‑year up from 6.11% to 6.49%) and steady Fed Funds rates at 3.63%. Unemployment remains low and unchanged at both the national (4.3%) and Utah (3.6%) levels, and consumer sentiment is flat. Housing starts and building permits have been constant, while real‑estate sentiment indices hover around the neutral 50‑point mark. Together, these factors keep the market neutral to mildly cooling, offering buyers in Tooele, Grantsville, Stansbury Park, Lake Point, and Erda a reasonable amount of choice without the pressure of a hot market. The market temperature is rated "balanced." Tooele County’s median home price of $460 k is roughly $90 k below the Utah median, with longer days on market, indicating a more buyer‑friendly environment than the state overall.