Market analytics · May 2026 archive
Draper, 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
Draper closings rebound to 42 in May as buyers race rates on the Silicon Slopes corridor.
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Draper closed 42 homes in May 2026, up from 36 in April — a 16.7% gain that matched the city's own May 2025 pace exactly, even as the rate environment has grown meaningfully more expensive over the past year. What changed is the composition of that demand: the over-$700K segment carried the month, with 28 of 42 closings above that threshold, while the $400K–$700K band contributed just 12. Active inventory reached 175 homes in May, up from 154 in April and 140 a year ago, giving buyers more to choose from — but the sale-to-list ratio climbed to 99.75%, the sharpest reading in the past six months, signaling that well-priced homes are still drawing near-full-price offers.
Market pulse
Over the past six months, Draper's closed-sales count traced a clear arc: 40 in December 2025, dropping to 31 in January 2026, then recovering to 45 in February, slipping to 37 in March, dipping again to 36 in April, and now rising to 42 in May. Days on market compressed sharply in the spring — from a January peak of 71 days at the median to just 8 in both April and May — suggesting that buyers who do engage are moving decisively. New listings have moderated from April's 87 to 71 in May, which helped keep the sale-to-list ratio firm at 99.75% even as active inventory continued to build. The over-$700K segment is doing the heavy lifting: 28 of May's 42 closings came from that price band, with a median sale price of $1,079,437 and a median of just 5 days on market — compared to 22 days for the $400K–$700K band.
Mortgage context
The 30-year fixed rate now sits at 6.75%, up 0.25 percentage points from 6.50% thirty days ago, and 0.56 percentage points above February's monthly average of 6.19% — the low point of the past seven months. For Draper buyers targeting the city's median price range, that February-to-now climb translates directly into a larger monthly commitment. Jumbo financing, relevant for a significant share of Draper's over-$700K closings, is priced even higher at 7.25%, which is worth factoring into any offer strategy on the bench properties in Suncrest or Fox Landing.
Payment math
On a median-priced home here — about $759,000 with 20% down — the monthly principal-and-interest payment lands at $3,936 at 6.75% — $100 more than 30 days ago at 6.5%, and $223 above the February low when rates averaged 6.19% and the payment would have been $3,713.
If you're buying
Target homes in the $400K–$700K band that have been sitting 20 or more days — the sale-to-list ratio in that segment is softer than the overall 99.75% figure, and 7 of May's 42 closings involved a prior price reduction, meaning motivated sellers exist. In South Mountain and Sunset Ridge at South Mountain, where multiple closings occurred in May, watch for listings that came on in April and haven't moved — those sellers have watched a full spring cycle pass and are more likely to negotiate. If you're financing above $726,200, compare jumbo rates (currently 7.25%) against FHA or VA options at 6.25% to see whether a different loan structure changes your monthly math.
If you're selling
The 99.75% sale-to-list ratio in May tells you the market rewards accurate pricing — not aspirational pricing. Homes in South Mountain and Suncrest that are priced in line with what similar homes actually closed for in April and May are moving in under two weeks; those priced to last year's $920,000 median are sitting in a market where the current median is $758,500. If your home is in the over-$700K segment, condition and presentation matter more than ever: 28 closings competed in that band in May, and buyers at that price point have real alternatives, including newer inventory along the I-15 corridor in Draper Heights and the bench communities.
Outlook
Over the next 60–90 days, Draper's market will be shaped by two competing forces: continued inventory growth (active listings have climbed from 87 in February to 175 in May) and a rate environment that is drifting higher, with the 30-year now at 6.75% and the six-month trend pointing upward since February. Seasonally, June and July typically bring more new listings to the South Mountain and Suncrest corridors as families time moves around the school calendar, which could push active counts toward 200 or above. If closings hold near 40–45 per month, the market stays roughly balanced; if new listings keep outpacing closings, sellers will need to sharpen their pricing to compete — particularly in the $400K–$700K range where days on market are already longer than in the luxury segment.
Watch for
If the 30-year fixed rate crosses 7.00% before August, expect the $400K–$700K segment — already showing 22-day median days on market and softer sale-to-list ratios — to slow further, with active inventory in that band potentially building to the point where list-price reductions become the norm rather than the exception.
"More deals, faster closes, rising rates — Draper's May split the difference between demand and affordability pressure."
Common questions about Draper this month
Is Draper a buyer's or seller's market in May 2026? ▾
It depends on the price range. In the over-$700K segment, homes are closing in a median of 5 days at nearly full asking price — that's firmly seller-favoring. In the $400K–$700K range, the median days on market stretched to 22 in May and 7 of 42 total closings involved a prior price cut, which gives buyers more room to negotiate. Active inventory at 175 homes is the highest it's been since at least last fall, so the overall balance is shifting gradually toward buyers.
Why is the median sale price lower in May 2026 than a year ago? ▾
The May 2026 median of $758,500 is down from $920,000 in May 2025, but this reflects a shift in the mix of homes that closed rather than a broad price decline. In May 2025, 29 of 42 closings were above $700K; in May 2026, that number was 28 — nearly identical — but the $400K–$700K band had a lower median sale price ($587,500 vs. $535,000 a year ago in that band). High-end outliers like the $2.6 million Steeple Chase closing can also move the average without moving the median. Interpret the median with the mix in mind.
How much does the current mortgage rate add to a monthly payment on a typical Draper home? ▾
At today's 6.75% rate, a buyer putting 20% down on a $759,000 home would pay $3,936 per month in principal and interest. That's $100 more than 30 days ago when rates were at 6.50%, and $223 more than in February when rates averaged 6.19% and the same payment would have been $3,713. For homes above $726,200 that require jumbo financing, the rate is currently 7.25%, which adds another $150–$200 per month on top of that.
Which Draper neighborhoods are seeing the most activity right now? ▾
South Mountain has appeared in the top-selling subdivisions every month for the past year and had 2 closings in May with a median sale of $547,400 — on the lower end for the community, suggesting entry-level product moved. Sunset Ridge at South Mountain posted 2 closings at a $911,000 median in May. Suncrest and Fox Landing continue to represent the upper end of the market, with Suncrest closings historically ranging from $895,000 to well over $2 million depending on the specific lot and home size.
Are Draper sellers cutting prices before closing? ▾
In May 2026, 7 of 42 closings involved a seller who had reduced the list price at least once before going under contract. That's the first month this data has been reliably tracked, so there's no direct comparison to prior months, but it represents about 17% of May closings. The concentration appears to be in the $400K–$700K band, where homes are sitting longer. Sellers who price accurately from day one — in line with what similar homes actually closed for in April and May — are still achieving near-list-price offers.
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
42 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 8 · 25th percentile 3 · 75th percentile 28
Needed a price change
Sold listings that had a recorded price change before close
7 of 42 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. Park 2 sold · $1,194K · 19d
- 2. Sunset Ridge At South Mountain 2 sold · $911K · 15d
- 3. South Mountain 2 sold · $547K · 19d
- 4. Inauguration 2 sold · $523K · 19d
- 5. Steeple Chase 1 sold · $2,600K · 28d
May 2026 by property type
How each housing type performed last month — 38 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 42 | 42 | 0.00% | 191 | 168 | +13.69% |
| Median Sale Price | $758,500 | $920,000 | -17.55% | $845,044 | $863,845 | -2.18% |
| Median DOM | 8 | 12 | -33.33% | 26 | 23 | +13.04% |
| Sale-to-List Ratio | 99.75% | 97.97% | +1.82% | 98.68% | 98.44% | +0.24% |
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.