Market analytics · May 2026 archive
Hyrum, 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
Hyrum homes are closing in 17 days — buyers are moving fast despite rising rates
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The defining story in Hyrum's May 2026 market is how quickly homes are moving off the shelf. The median days on market fell to just 17 in May — down from 32 in April and a dramatic drop from the 150-day median recorded in February — meaning the typical home that sold in May went under contract in under three weeks. That speed came alongside 11 closings and a sale-to-list ratio of 99.81%, even as active inventory climbed to 65 homes, up from 42 a year ago in May 2025.
Market pulse
The pace of closings in Hyrum has been volatile but the direction of days on market is unmistakable: from a sluggish 150-day median in February, the market tightened to 48 days in March, 32 in April, and then 17 in May — a compression that cuts across both price bands, with the under-$400K segment and the $400K–$700K segment both landing at a 17-day median in May. Active inventory has been building steadily, moving from 39 homes in February to 40 in March, 58 in April, and 65 in May, while new listings moderated to 21 in May after a burst of 30 in April. The sale-to-list ratio has held above 99% since March, and in May 6 of the 11 closings sold at or above list price — a sign that well-priced homes are still attracting competitive attention even as the overall supply grows.
Mortgage context
The 30-year fixed rate now sits at 6.75%, up 0.25 percentage points from 6.5% 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 Cache Valley buyers eyeing Hyrum, that rate climb since February has added real dollars to every monthly payment, and the June monthly average of 6.68% shows the trend has not reversed. FHA and VA options at 6.25% remain meaningfully cheaper for qualifying buyers, which may be helping sustain demand even as conventional financing costs more.
Payment math
On a median-priced home here — about $432,000 with 20% down — the monthly principal-and-interest payment lands at $2,242 at 6.75% — $57 more than 30 days ago at 6.5%, and $128 above the February low when rates averaged 6.19% and the payment would have been $2,114.
If you're buying
Target homes that have been sitting 30 or more days — the upper quartile of days on market in May was 44 days, and those sellers are more likely to negotiate; the 5 closings that sold below list in May show there is room to move on stale inventory. In Canyon Estates and the Mt. Sterling Farms corridor, where recent closings ranged from $550,000 to $625,000, ask for recent comparable sales before anchoring to list price — the median list price of $495,000 in May ran well above the $432,000 median sale, suggesting some sellers are still pricing to last spring's expectations. Buyers priced out of Logan or North Logan may find Hyrum's Cache Valley location and the US-89 commute corridor a workable alternative at a lower entry point.
If you're selling
The 17-day median is working in your favor right now, but only for homes priced in line with what buyers are actually paying — the gap between the May median list price of $495,000 and the median sale price of $432,000 is a warning that overpriced listings are sitting while correctly priced ones are closing fast. If your home is in Elk Mountain, Canyon Estates, or the Westridge area, lean on the most recent comparable sales from March through May rather than last year's numbers, when the median was $520,000. With 65 active listings competing for 11 buyers per month, presentation and pricing discipline matter more than they did six months ago.
Outlook
Over the next 60–90 days, Hyrum's market faces a familiar Cache Valley summer pattern: new listing activity typically holds steady through June before easing in late July, which could keep active inventory in the 60–75 range. If the 30-year rate stays near or above 6.75%, the pool of buyers who can comfortably afford the $400K–$700K band — which accounted for 8 of 11 May closings — will remain constrained, and days on market could drift back toward the 25–35 day range seen in March and April. Sellers who price sharply and buyers who move quickly on well-priced homes are likely to define the summer; hesitation on either side tends to stall deals in a market this small.
Watch for
If the 30-year rate crosses 7%, the $400K–$700K segment — which has driven the majority of Hyrum closings for the past year — could see days on market climb back above 45 and the sale-to-list ratio slip below 99%, shifting negotiating leverage noticeably toward buyers.
"Hyrum's speed-up month: closings cut to 17 days while inventory keeps climbing and rates keep biting."
Common questions about Hyrum this month
Is Hyrum a buyer's or seller's market in May 2026? ▾
It's a split picture. Homes that are priced correctly are moving in about 17 days with sale-to-list ratios near 100%, which favors sellers. But with 65 active listings and only 11 closings in May, it would take roughly 6 months to sell every home currently listed at that pace — a level that gives buyers real options and some negotiating room on homes that have been sitting longer than 30 days.
Why did days on market drop so sharply in Hyrum this spring? ▾
After a slow winter — February's median was 150 days — the spring selling season brought a wave of motivated buyers who had been waiting out the mud season and rate uncertainty. March through May saw progressively faster closings (48, 32, then 17 days), likely reflecting pent-up demand from Cache Valley households who wanted to be settled before the USU fall semester and the summer construction window. The pattern is consistent with how this northern Utah alpine market typically accelerates once snowmelt clears.
What are homes actually selling for in Hyrum right now? ▾
The median sale price in May 2026 was $432,000, down from $465,000 in April and $508,000 in March — though those month-to-month swings partly reflect which price bands were most active each month. Homes in the $400K–$700K range, which made up 8 of 11 May closings, had a median sale price of $487,500. The under-$400K segment (3 closings) came in at a $340,000 median.
How does the current mortgage rate affect buying a home in Hyrum? ▾
At today's 30-year rate of 6.75%, a buyer putting 20% down on a $432,000 home pays $2,242 per month in principal and interest. That's $128 more per month than it would have been in February when rates averaged 6.19%. FHA loans at 6.25% can reduce that payment for qualifying buyers, and VA loans at the same rate are worth exploring for eligible Cache Valley military families connected to Hill Air Force Base.
Are there price reductions happening in Hyrum? ▾
In May 2026, 4 of the 11 closings involved a seller who had reduced their price before going under contract — that's the first month this figure is reliably tracked in our data. The median list price of $495,000 running well above the $432,000 median sale price suggests some sellers are still anchoring to last year's expectations, and those are the listings most likely to require a price adjustment before closing.
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
11 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 17 · 25th percentile 10 · 75th percentile 44
Needed a price change
Sold listings that had a recorded price change before close
5 of 11 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. Canyon Estates Subdivision 1 sold · $625K · 0d
- 2. Canyon Estatesphase 1 1 sold · $600K · 13d
- 3. Mt. Sterling Farms 1 sold · $550K · 21d
- 4. Mountian View Drive 1 sold · $432K · 44d
- 5. Rama Park 1 sold · $420K · 53d
May 2026 by property type
How each housing type performed last month — 9 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 11 | 9 | +22.22% | 47 | 54 | -12.96% |
| Median Sale Price | $432,000 | $520,000 | -16.92% | $456,330 | $461,717 | -1.17% |
| Median DOM | 17 | 55 | -69.09% | 47 | 46 | +2.17% |
| Sale-to-List Ratio | 99.63% | 99.25% | +0.38% | 99.31% | 99.12% | +0.19% |
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.