Market analytics · August 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
August 2026 · Market Analysis
Lehi closings drop to 65 in August as Silicon Slopes buyers wait out rates near 6.9%.
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Only 65 homes closed in Lehi in August 2026, the lightest month in over a year and roughly 57% of the typical 115 sales the market has averaged over the past twelve months. That's down sharply from July's 108 and less than half of last August's 134, even as active listings kept climbing to 407 — the highest point in this six-month stretch. With so few closings, treat the $575,000 median sale price as a snapshot of a thin month, not a clean read on where values are headed.
Market pulse
Closings have fallen every month since May's 134, dropping to 99 in June, 108 in July, and now just 65 in August — while active inventory moved the other way, climbing from 322 in May to 357, 370, and 407 in August. That combination pushed the pace of sales relative to supply to 6.26 months, more than double March's 2.32. New listings also slowed, falling from 146 in July to 114 in August, suggesting some sellers are pulling back rather than testing a softer market. Median days on market crept up to 28 from 21 in July, though that's still faster than last August's 41.
Mortgage context
The 30-year averaged 6.16% back in February and has climbed in nearly every month since, reaching 6.79% in July before easing slightly to 6.77% for August's average. Today's spot rate sits at 6.875%, up 0.125 percentage points over the past 30 days — enough to keep monthly payments creeping higher and likely a factor in why so few Lehi buyers closed in August.
Payment math
A $575,000 median-priced home with 20% down now runs $3,022 a month in principal and interest at today's 6.875% rate, $38 more than the $2,984 payment buyers faced 30 days ago at 6.75%, and $217 above the $2,805 payment from February's 6.16% low.
If you're buying
With only 65 closings against 407 active listings, you have room to negotiate — 37 of August's sales closed below asking. Look hard at River Point, where the median days on market hit 35 and sellers are more open to price talk, and don't anchor to the $599,900 median list price when the median sale came in at $575,000. Rates sitting near 6.875% mean it pays to ask about rate buydowns rather than chase a lower list price alone.
If you're selling
Sixty-five sales is the lightest closing count in over a year, so price to what's actually landing, not what's sitting — Inverness homes closed at a median $544,990 with just 12 days on market, proof that realistic pricing still moves fast here. With 35 of August's sellers already taking a price cut before closing, don't wait until fall to adjust if showings go quiet in the first two weeks.
Outlook
With inventory still building and rates hovering near 6.9%, expect the slower pace to carry into fall — traditionally a quieter season along the Silicon Slopes corridor even before rate pressure. Buyers who can close should find more room to negotiate on price and terms than they've had all year; sellers who need to move should price closer to what River Point and Inverness are actually closing at, not the $599,900 list median.
Watch for
If new listings keep falling toward August's 114 while closings stay near 65, months-of-supply could push past 8 by November even without another rate increase.
"Lehi's quietest August in years, with buyers on the sidelines."
Common questions about Lehi this month
Is Lehi a buyer's or seller's market in August 2026? ▾
Inventory reached 407 active listings against only 65 closings, pushing the pace of sales relative to supply to 6.26 months — well above the 2.3 to 3 month range seen earlier this year. That shift favors buyers on negotiating room, even though the sale-to-list ratio held at 99.24%, meaning well-priced homes are still closing close to asking.
Why did so few homes sell in Lehi this August? ▾
Only 65 homes closed, down from 108 in July and 134 in August 2025, and well below the 115 average sale count over the past year. Rates near 6.875% today, up from 6.16% in February, are a likely factor, along with new listings slowing to 114 from July's 146.
What's happening with home prices in Lehi right now? ▾
August's median sale price of $575,000 should be read cautiously given the light closing count. Within the data, Inverness homes closed at a median $544,990 and River Point at $688,450, showing a wide range depending on the neighborhood rather than one clear price trend.
How much has the mortgage rate increase affected monthly payments in Lehi? ▾
A median-priced $575,000 home with 20% down now costs $3,022 a month in principal and interest at 6.875%, up $38 from 30 days ago and $217 more than February's 6.16% low would have produced. That's a meaningful move for buyers stretching to qualify.
Which Lehi neighborhoods are selling fastest right now? ▾
Inverness led August with 11 closings at a median 12 days on market, while Spring Ranch also moved quickly at 12 days. River Point, by contrast, took a median 35 days despite posting the highest median sale price among the top subdivisions at $688,450.
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
August 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
65 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 28 · 25th percentile 10 · 75th percentile 66
Needed a price change
Sold listings that had a recorded price change before close
35 of 65 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 11 sold · $545K · 12d
- 2. River Point 7 sold · $688K · 35d
- 3. Inverness By D.r. Horton 4 sold · $495K · 33d
- 4. Spring Ranch 3 sold · $540K · 12d
- 5. Pilgrims Landing 3 sold · $500K
August 2026 by property type
How each housing type performed last month — 63 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 65 | 134 | -51.49% | 860 | 926 | -7.13% |
| Median Sale Price | $575,000 | $604,050 | -4.81% | $578,278 | $567,104 | +1.97% |
| Median DOM | 28 | 41 | -31.71% | 27 | 35 | -22.86% |
| Sale-to-List Ratio | 99.24% | 98.51% | +0.74% | 99.17% | 98.80% | +0.37% |
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.