Market analytics · June 2026 archive
Lehi, 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
June 2026 · Market Analysis
Lehi closings drop 31% in June as Silicon Slopes buyers pause against higher rates.
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Lehi's June story is about who didn't show up: only 92 homes closed, down from 134 in May and well below the 124 closed in June 2025. That drop came even as active inventory climbed to 448 — the highest point in this six-month stretch — meaning sellers are listing into a pool of buyers that's noticeably smaller than it was a month ago.
Market pulse
Active inventory has climbed every month since March's 339, reaching 373 in April, 379 in May, and 448 in June — a buildup that's now outpacing demand. Sold counts, by contrast, have been choppy: 127 in April, 134 in May, then a drop to 92 in June, in line with the 92 closed back in November but well off the 124-134 range Lehi ran through most of the spring. Days on market held roughly flat at 21 in June versus 17 in May, but the top quarter of listings took 55 days or longer, up from 32 in May. Price cuts before sale jumped to 39 of 92 closings in June, continuing May's shift (38 of 134) after months of just 0-5 — a real change in seller behavior, not a data artifact, now that two straight months confirm it.
Mortgage context
The 30-year sits at 6.875% as of mid-July, up 0.25 percentage points from 6.625% just 30 days ago, and has climbed steadily from 6.19% in February to 6.66% in June's monthly average. That trajectory tracks almost exactly with June's pullback in closings — buyers who could stretch to a payment in February are increasingly priced to the sidelines now.
Payment math
On Lehi's $585,000 median home with 20% down, financing at today's 6.875% runs $3,077 a month in principal and interest, up $78 from the $2,999 payment 30 days ago at 6.625%, and $211 above the $2,866 payment buyers would have locked in back in February 2026 when rates averaged 6.19%.
If you're buying
Closings fell to 92 in June from 134 in May — 42 fewer buyers competing for space even as active inventory rose to 448. Use that gap: target listings in the 400k-700k band, where median days on market hit 22 and price cuts hit 39 of 92 closings, and don't be afraid to open 3-5% under list on anything past three weeks unsold.
If you're selling
With 39 of June's 92 closings involving a price cut before selling, pricing at April or May levels is what's stalling homes now — Inverness by D.R. Horton's median jumped to 24 days from 13 in May as buyers got choosier. Price to the 400k-700k band's actual $529,990 median, not last spring's numbers, and expect to negotiate off list more often than not: only 32 of 92 June sales hit list price exactly.
Outlook
Expect inventory to keep building through late summer if new listings (177 in June) continue outrunning closings, giving buyers more leverage on anything sitting past three weeks. Rates near 6.875% will likely keep dampening the closing count into fall, though warm alpine summer weather through September should keep some seasonal demand moving in subdivisions like Inverness and Spring Ranch. Sellers who price to June's actual closed numbers rather than May's should still find buyers, just fewer of them.
Watch for
If new listings keep outpacing closings at June's pace — 177 new against just 92 sold — active inventory could push past 500 by August, and if the 30-year holds above 6.85%, expect the sale-to-list ratio to slip below 99% for the first time since spring.
"Lehi's demand pulled back just as supply kept building."
Common questions about Lehi this month
Is Lehi a buyer's or seller's market in June 2026? ▾
It's tilting toward buyers for the first time this year. Active inventory reached 448, up from 339 in March, while closings fell to 92 from 134 in May. With 39 of those 92 sales involving a price cut first, sellers are losing some of the pricing power they had this spring.
Why did home sales slow down in Lehi this June? ▾
Higher borrowing costs are the clearest driver. The 30-year mortgage rate climbed to 6.875% by mid-July, up from 6.19% in February, pushing the monthly payment on a median $585,000 home up $211 since that February low. Closings fell to 92 from May's 134 over the same stretch rates kept climbing.
Are sellers cutting prices in Lehi right now? ▾
Yes, more than earlier this year. 39 of June's 92 closings involved a price reduction before selling, matching May's 38 of 134 — a real shift after months of just 0-5 price cuts per month in the data we've tracked since January.
What's a reasonable days-on-market expectation for Lehi listings this summer? ▾
Median days on market sat at 21 in June, similar to April and May, but a quarter of listings took 55 days or longer to sell, up from 32 in May. Homes in the 400k-700k range are moving fastest at a 22-day median; anything over 700k or under 400k is more likely to sit.
How much does today's mortgage rate add to a typical Lehi house payment? ▾
On the $585,000 median home with 20% down, financing at 6.875% runs $3,077 a month in principal and interest, versus $2,866 back in February when rates averaged 6.19%. That's a $211 monthly increase in five months, separate from any price appreciation.
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
June 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
98 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 22 · 25th percentile 4 · 75th percentile 55
Needed a price change
Sold listings that had a recorded price change before close
41 of 98 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. Inverness By D.r. Horton 15 sold · $530K · 26d
- 2. Inverness 12 sold · $545K · 5d
- 3. River Point 7 sold · $692K · 138d
- 4. Spring Ranch 5 sold · $400K · 57d
- 5. Pioneer Meadows 3 sold · $665K · 85d
June 2026 by property type
How each housing type performed last month — 98 closings total across subtypes.
Summary Statistics
| Metric | Jun-26 | Jun-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 98 | 124 | -20.97% | 685 | 644 | +6.37% |
| Median Sale Price | $597,950 | $622,500 | -3.94% | $569,434 | $545,564 | +4.38% |
| Median DOM | 22 | 27 | -18.52% | 28 | 34 | -17.65% |
| Sale-to-List Ratio | 99.11% | 98.87% | +0.24% | 99.22% | 98.89% | +0.33% |
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.