Market analytics · May 2026 archive
Farmington, 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
Farmington homes are closing in days, not weeks — but rising rates are quietly raising the cost of entry.
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The headline number in Farmington's May 2026 market is the median days on market: 3 days, down from 8 in April and 15 in March, meaning the typical home that closed in May went under contract almost immediately after hitting the MLS. That speed stands in sharp contrast to a year ago, when May 2025's median sat at 15 days and 35 homes closed compared to 19 this May. Active inventory climbed to 72 homes — up from 65 in April and 55 a year ago — so the faster pace is happening even as more choices sit on the market, a sign that well-priced homes are being absorbed quickly while others wait.
Market pulse
The six-month arc of days on market in Farmington tells a striking story: the median sat at 62 days in December 2025, fell to 26 in January, held near 28 in February, dropped to 15 in March, reached 8 in April, and then landed at just 3 days in May 2026. That is not a gradual trend — it is a near-complete compression of time-to-contract over five months. The over-$700K price band is driving much of this: 12 of May's 19 closings came from that segment, with a median of 11 days on market, while the $400K–$700K band closed in a median of just 1 day. The sale-to-list ratio eased slightly to 98.45% in May from 98.66% in April, and 9 of 19 closings came in below list price, suggesting that while homes move fast, buyers are still finding some room to negotiate — particularly on homes that had already taken a price cut before going under contract (4 of 19 May closings fell into that category).
Mortgage context
The 30-year fixed rate reached 6.75% as of mid-June, 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. After dipping through January and February, rates climbed back through March (6.48%), held near 6.42% in April, and have now moved to their steepest level since November 2025. For buyers in Farmington, where the median sale price is $740,000, that rate trajectory has a real dollar cost that is hard to ignore.
Payment math
On a median-priced home here — about $740,000 with 20% down — the monthly principal-and-interest payment lands at $3,840 at 6.75% — $98 more than 30 days ago at 6.50%, and $218 above the February low when rates averaged 6.19% and the payment would have been $3,622.
If you're buying
Target homes that have been sitting for more than 30 days — the upper quartile of days on market in May was 27 days, meaning anything past that threshold is genuinely stale by Farmington's current standards, and those sellers are more likely to accept offers below list. In the Station Park corridor and Farmington Orchards neighborhoods, recent comparable sales show a wide range of outcomes: Station Park closed at a median of $607,380 in May while Farmington Orchards moved at $785,000, so use actual closed prices in those specific subdivisions rather than the citywide median when anchoring your offer. With jumbo rates now at 7.25% for loans above conforming limits, buyers financing above roughly $800,000 should price in that premium carefully — the difference between a conforming and jumbo payment on a $1M home is meaningful.
If you're selling
The median days-on-market compression to 3 days is real, but it applies to homes priced in line with what buyers can finance at today's rates — not to homes priced to last spring's peak expectations. With 72 active listings now competing for 19 closings per month, at May's pace it would take about 3.8 months to sell every home currently listed, which gives buyers enough alternatives to walk away from overpriced homes. Sellers in Chestnut Farms and Hidden Farm Estates, where recent closings have ranged from $1.4M to over $2M, should lean on condition and staging to justify premium pricing rather than testing the market with aspirational list prices — the 4 price-cut closings in May are a reminder that corrections happen when sellers overshoot. Price within 2% of what similar homes have actually closed for in your subdivision over the past 60 days, and you are likely to see an offer within the first week.
Outlook
Over the next 60 to 90 days, Farmington's market faces a tug-of-war between strong buyer urgency — evidenced by the near-instant contract pace — and rising borrowing costs that are compressing what buyers can afford. The 30-year rate has climbed from 6.19% in February to 6.75% today, and if it continues toward 7%, some buyers currently shopping in the $600K–$750K range along the I-15 Davis County corridor may shift their search toward more affordable Davis County cities like Layton or Clearfield, or pause entirely. New listings have been running at 30–38 per month since March, and if that pace continues into summer while closings stay near 19–23 per month, active inventory will keep building — which gradually shifts negotiating leverage toward buyers.
Watch for
If the 30-year fixed rate crosses 7.00%, expect the $400K–$700K segment — which closed in a median of just 1 day in May — to slow noticeably, as that price band is most sensitive to monthly payment increases and has the thinnest margin before buyers are priced out of qualifying.
"Median days on market fell to 3 in May — the fastest pace in months — while borrowing costs climbed to their steepest point since last fall."
Common questions about Farmington this month
Is Farmington a buyer's or seller's market in May 2026? ▾
It is split between the two, depending on price. Homes in the $400K–$700K range are moving in a median of 1 day, which is firmly seller territory. But with 72 active listings and only 19 closings in May, buyers have enough choices that overpriced homes are sitting — 9 of 19 closings came in below list price. Call it a seller's market for well-priced homes and a buyer's market for anything that needs a correction.
Why are homes in Farmington selling so fast if inventory is rising? ▾
The fast pace applies specifically to homes priced in line with what buyers can finance today. Active inventory has grown from 44 homes in December 2025 to 72 in May 2026, but new listings are also being absorbed quickly when they are priced correctly. The homes sitting longest — the upper quartile in May took more than 27 days — tend to be those priced above what recent comparable sales in their subdivision support.
How much has the monthly payment on a Farmington home changed in the past few months? ▾
At the current 6.75% rate, the monthly principal-and-interest payment on a median-priced $740,000 home with 20% down is $3,840. That is $218 more per month than it would have been in February 2026 when rates averaged 6.19% and the payment would have been $3,622. The 30-day move alone added $98 to that payment as rates climbed from 6.50% to 6.75%.
What neighborhoods in Farmington are seeing the most activity right now? ▾
Station Park and Chestnut Farms have been the most consistently active subdivisions over the past several months. In May, Station Park closed 2 homes at a median of $607,380 with a 14-day median, while Chestnut Farms closed 2 homes at a median of $1,395,000 but with a longer 54-day median — reflecting the patience required at the upper end. Farmington Orchards and Farmington Ranches also had closings in May, at $785,000 and $749,900 respectively.
Should I wait for rates to drop before buying in Farmington? ▾
Rates have moved in the opposite direction since February's 6.19% low, reaching 6.75% today — a climb of 0.56 percentage points that added $218 to the monthly payment on a median-priced home. Whether rates fall from here is uncertain, but Farmington's inventory is building gradually, which means buyers who wait may find more choices. The trade-off is that if rates stay elevated or rise further, the payment cost of waiting could outweigh the benefit of more selection.
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
19 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 3 · 25th percentile 0 · 75th percentile 27
Needed a price change
Sold listings that had a recorded price change before close
4 of 19 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. Chestnut Farms 2 sold · $1,395K · 54d
- 2. Station Park 2 sold · $607K · 14d
- 3. Meadow View Phase 2 1 sold · $1,095K · 85d
- 4. Farmington Orchards 1 sold · $785K · 6d
- 5. Farmington Ranches 1 sold · $750K · 0d
May 2026 by property type
How each housing type performed last month — 18 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 19 | 35 | -45.71% | 87 | 115 | -24.35% |
| Median Sale Price | $740,000 | $614,450 | +20.43% | $671,901 | $627,919 | +7.00% |
| Median DOM | 3 | 15 | -80.00% | 14 | 21 | -33.33% |
| Sale-to-List Ratio | 98.45% | 99.77% | -1.32% | 99.14% | 99.21% | -0.07% |
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.