Market Overview
coolingUtah County’s median home price (~$525 k) sits about 15% above the state median, while inventory and days‑on‑market are higher, indicating a softer market than Utah overall.- •Median closed price $525,000; SFR median $855,763, Townhome/Condo median $482,252.
- •72 days on market vs 30‑45 days typical in a hot market; 4,894 new listings vs 2,331 closed transactions (≈2.1 × supply).
- •Sale‑to‑list ratio 99.6% (near parity) and 30‑day mortgage rates edging up to 6.35%.
- •Low unemployment (Utah 3.6%) and steady consumer sentiment, but rising rates and modestly higher CPI shelter index (422.9) pressure affordability.
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Frequently Asked Questions About Utah County Real Estate
Utah County, Utah is currently a cooling market that is shifting toward buyers. Utah County’s median home price (~$525 k) sits about 15% above the state median, while inventory and days‑on‑market are higher, indicating a softer market than Utah overall.
Home prices in Utah County, Utah have increased by 10.0% over the past year. The median sale price went from $499,900 to $549,990 (+10.0%).
Utah County’s residential market is transitioning toward a buyer‑friendly environment. Over the past three months, the median sale price held at $525 k, but homes are staying on the market for an average of 72 days, and the sale‑to‑list ratio has slipped to 99.6%, signaling that sellers are receiving near‑list offers rather than premiums. Inventory is abundant, with 4,894 new listings and 1,928 active single‑family homes, outpacing the 2,331 closed transactions, which creates upward pressure on days‑on‑market and gives buyers more negotiating leverage.
The broader economic backdrop supports this cooling trend. Mortgage rates have risen modestly over the last six months, climbing from 6.24% to 6.35% on the 30‑year, while the Fed Funds rate has stabilized at 3.64%. Local unemployment remains low at 3.6%, and consumer sentiment has steadied, but the CPI shelter index’s upward drift and a slight uptick in mortgage rates erode affordability. Housing starts and building permits remain strong, suggesting supply will continue to grow, further tempering price acceleration. Buyers in Provo, Lehi, Saratoga Springs, Eagle Mountain, and Spanish Fork can expect more choice, longer negotiation windows, and the opportunity to secure homes at prices that are still above the state average but no longer in a frenzy‑driven market. The market temperature is rated "cooling." Utah County’s median home price (~$525 k) sits about 15% above the state median, while inventory and days‑on‑market are higher, indicating a softer market than Utah overall.