Market analytics · May 2026 archive
Cedar City, Utah real estate market report.
Monthly sold prices, days on market, sale-to-list ratio, and absorption rate. Updated nightly from UtahRealEstate.com and the Washington County Board of Realtors.
Updated · Sources: UtahRealEstate.com & Washington County Board of Realtors
May 2026 · Market Analysis
Cedar City closings pull back in May even as listing activity hits a spring peak.
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Cedar City recorded 45 closings in May 2026, down from 61 in April and below the 54 closings posted in May 2025 — a 17% year-over-year decline in completed sales that stands out against an otherwise active spring listing season. At the same time, active inventory reached 388 homes, up from 340 in April and more than double the 187 active listings Cedar City carried in May 2025. The gap between supply growth and closing volume is the defining tension in the market right now.
Market pulse
Closed sales in Cedar City have been uneven since December: 69 closings in December 2025 gave way to just 37 in January 2026, recovered to 62 in March, briefly touched 61 in April, then fell back to 45 in May — the weakest spring month in this run. Meanwhile, active inventory has climbed steadily every month since December, moving from 208 to 251 to 282 to 318 to 340 and now 388, a consistent build that has pushed the time it would take to sell every currently listed home at May's sales pace to roughly 8.6 months. The sale-to-list ratio has held relatively steady in the 98.4–98.9% range since January, suggesting sellers are still getting close to asking price on homes that do close — but the number of homes selling above list dropped sharply, from 13 in April to just 4 in May. Median days on market improved to 38 in May from 49 in April, though a quarter of homes took longer than 58 days to find a buyer.
Mortgage context
The 30-year fixed rate now sits at 6.75%, up 0.25 percentage points from 6.5% thirty days ago, and well above February's monthly average of 6.19% — the most affordable point of the past several months. That 0.56-percentage-point climb since February has added real cost to every transaction in Cedar City, and with jumbo loans now priced at 7.25%, buyers eyeing the upper end of the market near communities like Old Sorrel Ranch or Canyon Gate face a notably steeper payment hurdle than they did earlier this year. The rate trajectory is a meaningful part of why closings are running below last spring's pace despite strong new-listing activity.
Payment math
On a median-priced home here — about $510,000 with 20% down — the monthly principal-and-interest payment lands at $2,646 at 6.75% — $67 more than 30 days ago at 6.5%, and $150 above the February low when rates averaged 6.19% and the payment would have been $2,496.
If you're buying
With 388 active listings and only 45 closings in May, Cedar City buyers have real negotiating room — particularly on homes that have been sitting past 58 days, where the sale-to-list ratio on slower-moving inventory tends to trail the market average. Target listings in the $400,000–$700,000 range in established neighborhoods like Iron West or Carmel Canyon that have been on market 60 days or more; sellers in that band are increasingly open to price adjustments, as 14 of May's 45 closings involved a prior price reduction. FHA and VA financing at 6.25% also offers a meaningful rate advantage over the conventional 6.75% for qualifying buyers, worth running the numbers on before assuming a conventional loan is the only path.
If you're selling
With closings running below last spring's pace and inventory at 388 homes, Cedar City sellers need to price against what similar homes actually sold for in the past 60 days — not against the spring 2025 market, when conditions were tighter. Homes in the under-$400,000 range are still moving at a median of 31 days, so well-priced entry-level properties near Southern Utah University or in communities like Pointe West have a clear audience; the $400,000–$700,000 band is more competitive, with a 40-day median and more active competition from new construction along the Three Peaks and Iron West corridors. If your home needs work, price it 2–3% below recent comparable sales rather than listing at the top of the range and waiting — the data shows 28 of 45 May closings sold below list price.
Outlook
Over the next 60–90 days, Cedar City's inventory is likely to keep building as new listings have run above 100 per month since March, while the rate environment — now at 6.75% and trending upward — will continue to constrain the buyer pool, particularly for move-up buyers in the $500,000–$700,000 range. Seasonal demand from retirees considering Cedar City as a more affordable alternative to St George may provide some floor to activity, but that buyer segment is also rate-sensitive. If new listings continue at their current pace without a corresponding uptick in closings, sellers should expect longer marketing times and more price negotiation heading into summer.
Watch for
If the 30-year fixed rate crosses 7%, expect the time it would take to sell all active Cedar City listings at the prevailing sales pace to stretch past 10 months, putting meaningful downward pressure on list prices in the $400,000–$700,000 band where competition is already stiffest.
"More homes, fewer buyers closing — Cedar City's May gap between supply and demand is the story of the spring."
Common questions about Cedar City this month
Is Cedar City a buyer's or seller's market in May 2026? ▾
The data points toward a buyer's market. With 388 active listings and only 45 closings in May, buyers have more choices and more leverage than at any point in the past year. That said, well-priced homes under $400,000 are still moving in about 31 days, so it's not uniformly slow — the advantage is most pronounced in the $400,000–$700,000 range, where inventory is deepest.
Why did Cedar City home prices jump to $510,000 in May when closings were down? ▾
The May median of $510,000 reflects the mix of homes that actually closed, not the overall market. With only 45 closings, a shift toward more mid-range and upper-end transactions — 23 closings in the $400,000–$700,000 band versus 18 under $400,000 — can move the median significantly. Interpret the May median with some caution given the lighter closing volume.
How does Cedar City compare to St George for buyers priced out of the Wasatch Front? ▾
Cedar City has historically offered lower entry prices than St George, and that gap remains meaningful — the May median here was $510,000 versus considerably higher figures in Washington County. Cedar City also draws retirees and remote workers who want Southern Utah's outdoor lifestyle at a lower price point, which supports steady demand even when the broader market softens.
Are price reductions common in Cedar City right now? ▾
Yes — 14 of the 45 homes that closed in May had taken a price reduction before going under contract, which is the first month this data has been reliably tracked. That's roughly 31% of closings, a meaningful share that suggests sellers who priced optimistically at listing are adjusting to meet the market. Buyers targeting homes with prior price cuts may find additional room to negotiate.
What neighborhoods or subdivisions are selling fastest in Cedar City right now? ▾
In May, Old Sorrel Ranch saw two closings at a median of just 3 days on market, suggesting strong demand for that community's price point around $630,000. Meadows Ranch East also closed in 0 days (meaning it went under contract before or immediately at listing). At the other end, Kanarra Kove Too had a home sit 200 days before closing — a reminder that the upper end of the market, particularly above $800,000, moves much more slowly in Cedar City.
Number of Listings
Active inventory · new listings · sold per month
Listing Prices
Active median list · new median list · sold median sale
Absorption Rate
Months of supply — active inventory ÷ monthly sold rate
Sale-to-List Ratio
Close price ÷ original list — buyer/seller leverage
Days on Market
Median days from listing to close
Price Volume
Total dollar volume — active · new · sold per month
May 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
45 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 38 · 25th percentile 9 · 75th percentile 58
Needed a price change
Sold listings that had a recorded price change before close
15 of 45 sold homes had at least one price change while listed. Lower = sellers are pricing right the first time.
Sales by price band
Closed-price bucket → sold count and median days to contract
Top subdivisions this month
Ranked by closed count
- 1. Not Available 3 sold · $525K · 40d
- 2. Old Sorrel Ranch 2 sold · $630K · 3d
- 3. Kanarra Kove Too Subdivision 1 sold · $815K · 200d
- 4. Meadows Ranch East Subdivision 1 sold · $676K · 0d
- 5. Canyon Gate Subdivision 1 sold · $650K · 56d
May 2026 by property type
How each housing type performed last month — 44 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 45 | 54 | -16.67% | 250 | 231 | +8.23% |
| Median Sale Price | $510,000 | $387,000 | +31.78% | $441,754 | $395,851 | +11.60% |
| Median DOM | 38 | 41 | -7.32% | 62 | 46 | +34.78% |
| Sale-to-List Ratio | 98.46% | 98.98% | -0.53% | 98.73% | 98.57% | +0.16% |
Sources: UtahRealEstate.com and the Washington County Board of Realtors, aggregated by Best Utah Real Estate. Sale-to-list ratio compares closing price to the final list price (post-reduction). Absorption rate = active inventory ÷ monthly sold rate.