Homes for Sale in Syracuse, Utah

Syracuse’s residential market remains on the higher end of Utah’s price spectrum, with a median closed price of $570,000—roughly $60,000 above the state median. Prices are still climbing, posting a 4.7% increase from the prior month and a 7.3% year‑over‑year gain for single‑family homes. Buyers are aggressive, as reflected by a 99.4% sale‑to‑list ratio, though homes stay on the market a bit longer than the state average (83 days vs. 79). The limited supply of 68 active listings against 90 recent closings keeps the market tilted toward sellers, reinforcing a warm temperature classification. On the macro side, mortgage rates have started to climb again, reaching 6.42% for the 30‑year loan in April after a low‑point of 6.06% in February, aligning with the 30‑day “rising” rate trend. Despite higher financing costs, Utah’s unemployment stays low at 3.6% and consumer sentiment has steadied around 56, while housing starts have risen to 1.49 million units, indicating ongoing construction activity. Regional news notes that mortgage rates are still near a three‑year low, but the recent uptick suggests buyers need to act quickly. Additionally, local regulatory changes—such as the new e‑bike and e‑motorcycle law—signal a supportive environment for modern mobility, which can enhance neighborhood appeal for homebuyers.