Utah Single Family Home Performance Review

Utah Market Data

This week's numbers cover every single-family listing priced $300,000 to $2 million in Salt Lake, Utah, Davis, Weber, Cache, Tooele and Wasatch counties. Single-family includes homes, townhomes, twin homes, and condos.

Homes Going Under Contract

Utah buyers signed 16,944 single-family purchase contracts from January through June, up 4.6% from 16,192 a year earlier. Contracts then fell 10.5% in July and 10.4% in August compared with last year. The four weeks ending September 27 came in 11.2% lower, at 2,097 against 2,362.

August closings fell 14.9% to 2,442 from 2,870, a month after contracts turned. Year to date, closings are down 0.7%, to 22,791 from 22,949.

New listings stayed close to last year all summer, then fell 10.7% in the last four weeks, to 3,020 from 3,381.

Prices and Listings That Did Not Sell

The median sold price per square foot is $230, unchanged from a year ago. Sellers who closed got a median 98.5% of their original list price, the same as last year. The median home spent 39 days on the market, up from 36 last year and the most of any year back to 2019.

Condos had the clearest drop, with a median $276 per square foot this year, down 2.0% from $282. Salt Lake County condos fell 3.1% to $292 and Utah County condos fell 2.3% to $257. Condo prices from July through September were about even with last summer, so most of that drop came earlier in the year. Resale townhomes fell 2.6% to $225, and Weber County townhomes fell 2.2% to $233.

Detached homes rose 0.4% to $227. Davis County detached homes rose the most, up 2.8% to $229, partly because smaller homes sold and smaller homes cost more per square foot. The other counties and price ranges moved too little to call a trend.

This year 65.4% of sales reported a seller concession (money the seller puts toward the buyer's closing costs or rate), up from 62.5% last year. The typical concession held at $10,000.

Of the listings that came off the market this year, 29.1% were canceled, expired or withdrawn instead of sold, up from 24.2% last year. That is the highest share of any year back to 2019.

By Property Type and Price

Detached home sales are up 3.1% this year to 17,057. Townhome sales are down 9.9% to 4,136, and condo sales are down 15.1% to 1,282, the fewest since 2020. About a third of townhome and condo listings that came off the market did not sell (33.9% and 34.5%), compared with 27.3% for detached homes.

Months of supply (how long it would take to sell every active listing at the past year's sales pace) is lowest for detached homes priced $300,000 to $500,000, at 2.7 to 2.8 months. Townhomes from $300,000 to $400,000 have 4.4 months and condos in that range have 5.2. Detached homes over $1 million have 5.3 to 6.3 months.

Over the last 12 weeks, contracts on new homes rose 8.2% to 726, while resale contracts fell 12.7% to 5,941. These counts only include builder homes listed in the MLS.

Contracts By County

Cache is the only county with more contracts over the last 12 weeks, up 13.5% to 319, or 38 more than last year. Tooele fell the most at 15.8%, followed by Utah County at 15.4%. Utah County had the biggest drop by count, 1,951 contracts against 2,305. Davis fell 10.8%, Salt Lake 10.1%, Wasatch 8.5% and Weber 7.8%.

Utah County townhome sales are down 20.0% this year, to 1,665 from 2,082, and median days on market rose to 40 from 29.

The Bottom Line

Utah single-family contracts ran 4.6% ahead of last year through June, then dropped about 11% below last year in July and have stayed there. Detached prices held while condos and resale townhomes slipped about 2% to 3% per square foot, and 29.1% of listings came off the market without selling, the highest share back to 2019. Detached homes under $500,000 are still the tightest part of the market, and condos, townhomes and homes over $1 million have the most supply.

_{Data sourced from UtahRealEstate.com (WFRMLS) listing data for single-family homes, townhomes, twin homes and condos priced $300,000 to $2 million in Salt Lake, Utah, Davis, Weber, Cache, Tooele and Wasatch counties, pulled September 29, 2026. Year-to-date figures cover January 1 through September 27 of each year. Twelve-week and four-week comparisons match the same weekdays in both years. Counts are by listing, so a home listed twice counts twice. UtahInvestor.com analysis.}

Sold Multi-Units This Week

Eight multi-unit properties closed across Utah between September 22 and September 28. Prices ran from $365,000 to $1,575,000, and all eight sold below their final asking price. Four were duplexes, two were fourplexes, one was a triplex and one was an eight-unit building in Vernal. An Orem fourplex sold in 4 days, while a Salt Lake City duplex closed after 323 days on the market.

Mortgage Rates & Financing

Mortgage rates rose sharply again this week. The 30-year fixed sits at 7.58%, up 0.41 from a week ago and 0.77 over the past month. That is a new 52-week high and 1.20 above where the same loan sat a year ago. The 15-year fixed is at 7.20%, FHA is at 7.24% and jumbo loans are at 7.60%, and all six loan types MND tracks are at 52-week highs. The 7/6 SOFR ARM is at 6.87%, which is 0.71 under the 30-year fixed.

The 10-year Treasury closed at 5.26% on September 29, up from 4.96% a week earlier and 4.79% on September 1. Mortgage rates track the 10-year, so the climb in yields pushed rates up this week. Investor loans usually price 0.50 to 0.75 above the owner-occupied 30-year, which puts a rental purchase near 8.08% to 8.33% right now.

_{Source: Mortgage News Daily, rates as of September 29, 2026. 10-year Treasury yield from the U.S. Treasury daily yield curve.}

Utah Headlines

Salt Lake City Planners Back Allowing Fourplexes on About 33,000 Residential Lots — The planning commission voted unanimously to allow duplexes, triplexes, fourplexes and four-unit townhomes on about three-fourths of the city's residential land, and the City Council gets the final vote.

About $30 Billion in Major Projects Is Underway Along the Wasatch Front — The list runs from Texas Instruments' $11 billion chip plant in Lehi to more than 3,300 homes at The Point in Draper and the $1.2 billion Valley Grove project in Pleasant Grove, which includes 420 multifamily units.

Hurricane Is the Only Utah Market Ranked Among the 100 Most Buyer-Friendly in the Country — A ConsumerAffairs ranking of ZIP codes put Hurricane 39th nationally, with 40% of homes selling below asking and 12.9 months of supply.

National Headlines

Mortgage Applications Fell 6% as Rates Hit a Three-Year High — Purchase applications dropped 4% in the week ending September 25 and are 14% below a year ago, according to the Mortgage Bankers Association.

Apartment Prices Are Down 4.7% From a Year Ago — MSCI's U.S. apartment price index fell 4.7% year over year in August, and sales of individual apartment properties dropped 35%.

The Average New Home Sold for 8.8% Less Than a Year Ago — New homes sold at an average $478,700 in August as builders sold at a 684,000 annual pace, with 8.5 months of new-home supply on the market.

Seattle, Las Vegas and Denver Post Home Price Declines as National Gains Trail Inflation — The S&P Cotality Case-Shiller national index rose 1.9% in the year through July, below 3.4% inflation, while prices fell 1.6% in Seattle, 1.3% in Las Vegas and 1.1% in Denver.

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