Homes for Sale in Murray, Utah

Murray’s housing market is currently in a balanced state. Prices are modestly above the Utah median (+2.9%) and homes are moving quicker than the state average, reflected in a 10% lower days‑on‑market and a near‑list sale‑to‑list ratio of 98.9%. However, the dramatic 56% month‑over‑month price decline signals a short‑term correction, likely driven by the recent surge in listings (150) outpacing closed sales (95). Single‑family homes remain the dominant segment, with a median price of $572,000 and an average size of 2,545 sq ft, while townhomes/condos are more affordable but have experienced a steeper YoY price drop (‑18.8%). On the macro side, mortgage rates have resumed an upward trajectory, climbing to 6.42% this month after a brief dip to 6.06% in February, which could dampen buyer enthusiasm despite stable unemployment (U.S. 4.4%, Utah 3.6%) and steady consumer sentiment (56.4). Housing starts and permits remain healthy, and regional real‑estate sentiment stays near the mid‑50s, suggesting underlying demand. Local news—power outages affecting FrontRunner and a high‑school fire—are temporary setbacks but underscore the importance of reliable infrastructure for prospective buyers. Overall, Murray offers a slightly premium yet efficiently moving market, with price pressures easing as rates rise and inventory normalizes.