Market analytics
Garden 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
April 2026 · Market Analysis
Latest published analysis. September 2026 commentary publishes on Oct 5.
Garden City's Bear Lake listings build as buyers take their time — median DOM hits 200 days
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In April 2026, the median days-on-market in Garden City reached 200 days — more than double March's 77-day median and well above the 76-day reading from April 2025. That shift tells the clearest story of the month: properties along the Bear Lake corridor are sitting considerably longer before finding buyers, even as closings ticked up to 10 sales compared to 7 in April 2025. Active inventory climbed to 156 homes, up from 138 in March and 120 in February, giving buyers a wider selection than they've seen in at least a year.
Market pulse
Median DOM in Garden City has been volatile over the past six months, moving from 129 days in November 2025 to a brief 8-day reading in January 2026 (on just 5 closings), then back to 77 days in March before reaching 200 days in April. The p75 DOM — meaning the slowest quarter of closings — reached 267 days in April, indicating that a meaningful share of what's closing now entered the market well before the 2025 summer season. Active inventory has grown steadily from 92 homes in December 2025 to 120 in February, 138 in March, and 156 in April, while new listings held at 28 for the third consecutive month. The sale-to-list ratio remained relatively stable at 98.09% in April, close to March's 98.28%, suggesting that homes that do close are not being heavily discounted at the finish line — but 8 of 10 April closings still came in below list price.
Mortgage context
The 30-year fixed rate now sits at 6.625%, up 0.375 pp over the past 30 days from 6.25% thirty days ago, and 0.43 pp above February's monthly average of 6.19% — the low point of the past six months. For a second-home or vacation property market like Garden City, where jumbo financing is common on higher-end Bear Lake properties, the jumbo rate at 7.375% adds further friction for buyers in the over-$700K segment. The rate climb since February has meaningfully changed the monthly math for buyers who were underwriting deals at winter's lower rates.
Payment math
On a median-priced home today, P&I lands at $3,535/mo at 6.625% — $136/mo more than 30 days ago at 6.25%, and $158/mo above the February low when rates averaged 6.19% and P&I would have been $3,377.
If you're buying
Target listings in the Sweetwater and Golf Course Sub areas that have been active for 180 days or more — the p75 DOM of 267 days means a meaningful share of inventory has been sitting since before the 2025 summer season, and sellers in that cohort are more likely to negotiate. In the $400K–$700K band, the April median sale came in at $570,250 with a median DOM of 199 days, which suggests room to open below list; the overall sale-to-list ratio of 98.09% applies to homes that actually closed, not to the broader pool of stale listings where concessions tend to be larger.
If you're selling
With 156 active listings competing for 10 buyers in April, pricing discipline is essential — homes in the Omega Sub and Swan Creek Village neighborhoods that are priced at or above last spring's comps are contributing to the DOM creep, not beating it. If your property has been active more than 90 days, a price adjustment of 3–5% is likely more effective than waiting for a seasonal uptick that the inventory data suggests may not materialize quickly; the over-$700K segment saw a median DOM of 268 days in April, meaning luxury Bear Lake properties are averaging nearly nine months on market before closing.
Outlook
Over the next 60–90 days, Garden City enters its peak Bear Lake recreation season, which historically draws the most buyer traffic of the year — but with 156 active listings and rates at 6.625% (and the May monthly average already tracking at 6.51%), the demand side faces real affordability headwinds, particularly for second-home buyers financing at jumbo rates. If new listings continue arriving at 28 per month while closings stay in the 8–10 range, active inventory will likely cross 175–180 homes by mid-summer, giving buyers in communities like Waterdance and Bridgerland Village more negotiating room than they've had in recent summers. Sellers who price competitively before the July peak will have the best chance of avoiding the 200-plus-day DOM cohort.
Watch for
If the 30-year rate climbs past 7% this summer, expect the over-$700K segment — which already posted a 268-day median DOM in April — to see closings slow further and active inventory in that band extend well past current levels.
"Patience required: Garden City's spring market belongs to buyers willing to wait out long-tenured listings."
Common questions about Garden City this month
Is Garden City a buyer's or seller's market in April 2026? ▾
The data points toward a buyer's market. Active inventory reached 156 homes in April while only 10 properties closed, and 8 of those 10 sold below list price. The median days-on-market of 200 days means buyers have time to be selective and negotiate — conditions that favor the buyer side of the table.
Why are homes in Garden City sitting so long before selling? ▾
The Bear Lake vacation and second-home market is sensitive to financing costs, and the 30-year rate has climbed 0.43 pp since February's low of 6.19% to today's 6.625% — with jumbo rates at 7.375% for higher-priced properties. Combined with 156 active listings competing for a limited pool of buyers, properties in communities like Golf Course Sub and Omega Sub are averaging well over six months on market before closing.
What price range is moving fastest in Garden City right now? ▾
The under-$400K segment had the shortest DOM in April at just 6 days, though only 1 property closed in that band. In the $400K–$700K range, the median DOM was 199 days on 4 closings, and the over-$700K segment posted a 268-day median DOM on 5 closings. Relative to the broader market, lower-priced properties are finding buyers more quickly, though all segments are slower than a year ago.
How does April 2026 compare to April 2025 in Garden City? ▾
Closings rose from 7 in April 2025 to 10 in April 2026, and the median sale price moved from $443,000 to $690,000. However, active inventory grew from 55 to 156 homes over the same period, and median DOM expanded from 76 to 200 days — meaning more homes are selling, but buyers are taking considerably longer to commit and have far more options to choose from.
Are Bear Lake properties near Waterdance or Sweetwater selling at asking price? ▾
The overall sale-to-list ratio in April was 98.09%, meaning homes that closed came in close to — but generally below — their list prices. The Waterdance Sub recorded one closing at $1,745,000 after 58 days on market, while Sweetwater-area properties have historically taken 100–220 days to close. Sellers in these communities should expect buyers to negotiate, particularly on listings that have been active more than 90 days.
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 ÷ list price — buyer/seller leverage
Days on Market
Median days from listing to under contract
Price Volume
Total dollar volume — active · new · sold per month
September 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
9 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 62 · 25th percentile 50 · 75th percentile 85
Needed a price change
Sold listings that had a recorded price change before close
5 of 9 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. Swan Creek Village 2 sold · $664K · 72d
- 2. Bridgerland Village 1 sold · $840K
- 3. Lochwood 1 sold · $595K
- 4. Sweetwater Sub 1 sold · $585K · 62d
- 5. Garden City Lake Residences 1 sold · $525K
September 2026 by property type
How each housing type performed last month — 6 closings total across subtypes.
Summary Statistics
| Metric | Sep-26 | Sep-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 9 | 19 | -52.63% | 58 | 75 | -22.67% |
| Median Sale Price | $525,000 | $699,900 | -24.99% | $629,418 | $598,733 | +5.12% |
| Median DOM | 62 | 73 | -15.07% | 95 | 84 | +13.10% |
| Sale-to-List Ratio | 91.76% | 95.10% | -3.51% | 96.56% | 96.03% | +0.55% |
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.