Market analytics
Magna, 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
Magna contracts in 2 days, but fewer buyers are crossing the finish line
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The headline number out of Magna in June 2026 is a median of just 2 days on market — the fastest pace recorded in the past year, and a sharp drop from May's already-quick 8 days. Homes that did sell moved almost instantly, with a quarter of closings going under contract the same day they were listed. Yet the speed story has a counterweight: only 27 homes closed in June, down 47% from June 2025's 51 closings, and active inventory climbed to 133 — up from 125 in May and 20% above the 111 active listings Magna carried a year ago.
Market pulse
Median days on market in Magna traced a dramatic arc over the past six months: 56 days in January 2026, widening to 72 days in February before spring pulled it back to 34 in March, 26 in April, 8 in May, and now just 2 days in June. The sale-to-list ratio eased slightly to 99.18% in June from May's 100.6%, meaning the frenzied overbid environment of last month cooled a touch — closings split evenly at 9 above list, 9 at list, and 9 below. Active inventory has been building steadily since March's low of 96 homes, reaching 112 in April, 125 in May, and 133 in June, while new listings moderated to 41 after April's peak of 68. At June's sales pace it would take about five months to sell every home currently listed in Magna — a more balanced reading than the sub-three-month pace that defined March and April.
Mortgage context
The 30-year fixed rate reached 6.75% as of early July, up 0.125 percentage points from 6.625% thirty days ago and well above the February monthly average of 6.19% — the low point of the past seven months. Since that February low, rates have climbed 0.56 percentage points, which translates directly into higher monthly costs for Magna buyers financing at today's rates. That sustained upward drift since February is likely one reason closings in Magna are running lighter than a year ago even as individual homes sell quickly once a motivated buyer engages.
Payment math
At $430,000 — Magna's June median sale price — a buyer putting 20% down carries a monthly principal-and-interest payment of $2,231 at today's 6.75% rate; that's $29 more per month than 30 days ago when the rate stood at 6.625%, and $126 above the $2,105 payment that was available in February when the 30-year averaged 6.19%.
If you're buying
The 2-day median is real, but it applies to the homes that actually closed — 7 of those 27 June closings involved a seller who had already cut their price before going under contract, so there is room to negotiate on listings that have been sitting. Target homes in the Little Valley Gateway corridor that have been active past 30 days; the subdivision's June median days on market was 42, well above the overall market, and those sellers are more likely to accept offers below the $460,000 median list price. FHA rates at 6.25% and VA rates at 6.375% are meaningfully below the conventional 6.75%, so buyers who qualify for either program have a real cost advantage right now.
If you're selling
The 2-day median is encouraging, but the 47% drop in closings from a year ago means the pool of active buyers is thinner than the speed figure implies — the homes selling fast are the ones priced sharply. With the median list price sitting at $460,000 against a median sale price of $430,000, sellers who anchor to list price are leaving homes to sit; price within 2-3% of what similar homes actually sold for in Oquirrh Hills and the Tate subdivision rather than what they were listed at. Seven of June's 27 closings involved a price reduction before the sale, so getting the price right at launch matters more than it did in May.
Outlook
Magna enters July with warm summer weather that typically supports showings and open-house traffic, but the combination of 133 active listings, a 30-year rate at 6.75%, and a closing count running well below last year's pace suggests the market will stay selective rather than broadly competitive over the next 60-90 days. Buyers priced out of higher-cost Salt Lake City neighborhoods to the east are still a meaningful source of demand for Magna's sub-$450,000 price band, but that group is rate-sensitive, and further increases could push closings lower even if individual homes continue to go under contract quickly. Sellers who need to move this summer should expect a realistic pricing conversation — the speed of the market benefits well-priced homes, not overpriced ones.
Watch for
At the current pace of new listings running 41 per month against only 27 closings, active inventory could reach 160-plus homes by September if that gap holds — which would likely push the sale-to-list ratio toward the mid-97% range and give buyers noticeably more negotiating room than they have today.
"Two-day median, 27 closings: Magna's June speed story has a catch — volume is down and rates keep climbing."
Common questions about Magna this month
Is Magna a buyer's or seller's market in June 2026? ▾
It's genuinely mixed. The 2-day median days on market and the fact that 9 of 27 closings went above list price point to seller strength on well-priced homes. But 133 active listings, only 27 closings, and 7 price-cut sales in a single month show that overpriced homes are sitting — buyers have real leverage on anything that's been listed more than three or four weeks.
Why are so few homes closing in Magna compared to last year? ▾
June 2025 saw 51 closings; June 2026 had 27 — a 47% drop. The most likely explanation is affordability pressure from higher rates: the 30-year averaged around 6.19% in February and has climbed to 6.75% today, adding roughly $126 a month to the principal-and-interest payment on a median-priced Magna home. That narrows the pool of buyers who can qualify or feel comfortable committing.
What neighborhoods are selling fastest in Magna right now? ▾
Dixon Downs and Gabler's Grove Collection 615 both recorded 0 days on market in June — those homes went under contract immediately. White Farm Village also moved quickly at 2 days. By contrast, Little Valley Gateway's June median was 42 days, suggesting that corridor has more supply relative to demand and buyers there have more room to negotiate.
Should I list my Magna home above $460,000 this summer? ▾
The data argues for caution. The June median list price was $460,000, but the median sale price was $430,000 — a gap of $30,000. Homes in the $400,000-$700,000 band closed at a median of about $499,000, but those were 18 sales out of 27 total, and 7 sellers across the whole market had to cut their price before closing. Pricing at or just below recent comparable sales gives you the best shot at a quick, clean transaction.
How does Magna compare to nearby Salt Lake City for buyers on a budget? ▾
Magna's June median sale price of $430,000 sits well below what most Salt Lake City neighborhoods command, making it one of the more accessible options for buyers commuting west along SR-201 or I-80. The trade-off is that Magna's inventory, while growing, is still limited — 133 active listings across the whole community — so buyers should be ready to move quickly on anything priced correctly in the sub-$400,000 band, where 9 homes closed in June at a median of about $326,000.
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
31 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 19 · 25th percentile 6 · 75th percentile 43
Needed a price change
Sold listings that had a recorded price change before close
7 of 31 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. Tate 3 sold · $420K · 11d
- 2. Little Valley Gateway 3 sold · $416K · 42d
- 3. Park 2 sold · $527K · 16d
- 4. White Farm Village 1 sold · $620K · 2d
- 5. Dixon Downs 1 sold · $600K
June 2026 by property type
How each housing type performed last month — 26 closings total across subtypes.
Summary Statistics
| Metric | Jun-26 | Jun-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 31 | 51 | -39.22% | 192 | 275 | -30.18% |
| Median Sale Price | $444,900 | $454,895 | -2.20% | $434,499 | $458,117 | -5.16% |
| Median DOM | 19 | 14 | +35.71% | 35 | 23 | +52.17% |
| Sale-to-List Ratio | 99.32% | 99.84% | -0.52% | 99.38% | 99.77% | -0.39% |
Past months
Browse historical Magna reports — each month's snapshot stays at its own permanent URL.
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.