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
May 2026 · Market Analysis
Magna homes are selling in days, not weeks — but rising rates are narrowing the buyer pool
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The most striking number out of Magna in May 2026 is not the price — it's how fast homes left the market. The median days on market collapsed to just 8 days, down from 26 in April and a dramatic recovery from the 72-day median recorded in February. That pace put sellers firmly back in control: 14 of 32 closings went above list price, and the sale-to-list ratio reached 100.6% — the first time it has crossed 100% since July 2025. Closings came in at 32, compared to 52 in May 2025, so the volume story is softer than a year ago, but the homes that did sell moved with urgency.
Market pulse
Median days on market in Magna traced a dramatic arc over the past six months: 34 days in December 2025, then a winter slowdown that pushed the figure to 56 days in January 2026 and 72 days in February, before spring pulled it back to 34 in March, 26 in April, and now just 8 days in May. The sale-to-list ratio followed a similar path — dipping to 98.07% in February and 98.68% in April before climbing back to 100.6% in May. Active inventory reached 136 homes in May, up from 120 in April and 99 in March, so supply is building even as the homes that are priced right sell almost immediately. The split between fast-moving and stale listings is widening: homes in the $400,000–$700,000 range had a median of just 6 days on market in May, while the under-$400,000 segment took a median of 27 days — suggesting buyers are competing hardest in the mid-range where Gateway to Little Valley and Destination Pointe have seen recent activity.
Mortgage context
The 30-year fixed rate now sits at 6.75%, up 0.25 percentage points from 6.5% thirty days ago, and up 0.56 percentage points from February's monthly average of 6.19% — the low point of the past seven months. That climb has added real cost for Magna buyers: the monthly principal-and-interest payment on a median-priced home here has risen $133 since February's low. Rates moved from 6.47% in November 2025 down to 6.19% in February 2026, then reversed course, averaging 6.48% in March, 6.42% in April, and 6.55% in May — a trajectory that is now pointing higher into June, which will keep some buyers on the sideline even as well-priced homes move quickly.
Payment math
On a median-priced home here — about $453,000 with 20% down — the monthly principal-and-interest payment lands at $2,348 at 6.75% — $60 more than 30 days ago at 6.5%, and $133 above the February low when rates averaged 6.19% and the payment would have been $2,215.
If you're buying
With a median of just 8 days on market in Magna right now, waiting to schedule showings is a losing strategy — homes in the $400,000–$700,000 range are going in a median of 6 days and 14 of 32 May closings closed above list price. That said, active inventory has climbed to 136 homes, so there are listings sitting longer: target anything past 40 days on market, particularly in Oquirrh Hills or Little Valley Gateway, where a handful of homes have been listed well above what recent comparable sales support — those sellers are more likely to negotiate. FHA and VA rates at 6.25% are meaningfully below the conventional 6.75%, so buyers who qualify should run those numbers before assuming a conventional loan is the only path.
If you're selling
If your home is in the $400,000–$700,000 range and in good condition, May's data says price it at or just below the median list of $457,000 and expect a fast offer — but only if you don't overshoot. The 12 homes that closed below list price in May are a reminder that overpriced listings still sit: with active inventory at 136 and climbing, buyers have alternatives. Sellers in subdivisions like Dixon Downs or Daisy View, where recent comparable sales came in at $592,500 and $599,000 respectively, have a stronger case for premium pricing — but even there, condition and presentation matter more than asking price alone.
Outlook
Over the next 60–90 days, Magna's market faces a tension between genuine buyer urgency — evidenced by the 8-day median and above-list closings — and a rate environment that is moving in the wrong direction for affordability, with the 30-year now at 6.75% and June's monthly average already tracking higher. Active inventory is likely to keep climbing as new listings come in through the summer permitting season, which could give buyers more options and slow the pace somewhat by July. Sellers who list in June with sharp pricing relative to recent comparable sales will still find motivated buyers; those who test the market at aspirational prices may find themselves competing with a growing pool of alternatives, particularly as buyers priced out of Salt Lake City's west-side neighborhoods continue to look at Magna and neighboring Kearns as more accessible options.
Watch for
If the 30-year fixed rate crosses 7% before August, expect the under-$400,000 segment — already taking a median of 27 days to sell — to slow further, and active inventory in Magna to push past 150 homes as buyer qualification thresholds tighten.
"Eight days to contract: Magna's May speed story is real, even as the rate climb bites"
Common questions about Magna this month
Is Magna a buyer's or seller's market in May 2026? ▾
It's a seller's market for well-priced homes in the $400,000–$700,000 range, where the median days on market was just 6 days and 14 of 32 closings went above list price. However, with active inventory at 136 homes and climbing, buyers have more choices than they did in late 2025 — homes that are overpriced relative to recent comparable sales are sitting, so it's not a blanket seller's market across every price point.
Why did homes sell so much faster in May than in February? ▾
February's 72-day median reflected a combination of winter seasonality, elevated rates averaging 6.19% (which sounds low now but was a shock after the November average of 6.47%), and a backlog of listings that had been sitting since fall. Spring brought more motivated buyers back to the market, and by May the shoulder-season slowdown had fully cleared — the median dropped from 72 days in February to 34 in March, 26 in April, and 8 in May.
How much does the current mortgage rate affect my monthly payment on a Magna home? ▾
On a median-priced Magna home at about $453,000 with 20% down, the monthly principal-and-interest payment is $2,348 at today's 6.75% rate. That's $60 more per month than 30 days ago when rates were at 6.5%, and $133 more than February's low when rates averaged 6.19% and the payment would have been $2,215. FHA and VA loans are currently available at 6.25%, which meaningfully reduces that payment for qualifying buyers.
Are there still deals to be found in Magna, or is everything going over asking? ▾
Both are true right now. Twelve of 32 May closings went below list price, so deals exist — they're just concentrated in homes that have been sitting longer than 40 days or are priced above what recent comparable sales support. Oquirrh Hills and some older Little Valley Gateway listings have shown more negotiating room than newer Gateway to Little Valley entries, which have been moving quickly and at or above list.
How does Magna compare to nearby markets for affordability right now? ▾
Magna's median sale price of $452,500 in May sits below what buyers typically encounter in Draper or South Jordan, making it one of the more accessible Salt Lake County options for buyers priced out of those markets. Kearns and West Valley City offer similar price points, but Magna's proximity to the Oquirrh Mountains and its improving I-215 access have kept demand steady even as the rate environment tightens.
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
32 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 8 · 25th percentile 2 · 75th percentile 40
Needed a price change
Sold listings that had a recorded price change before close
5 of 32 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. Gateway To Little Valley 3 sold · $465K · 32d
- 2. Dixon Downs 2 sold · $593K · 46d
- 3. Destination Pointe 2 sold · $491K · 9d
- 4. Daisy View 1 sold · $599K · 10d
- 5. Mahogany Ridge 242 1 sold · $520K · 68d
May 2026 by property type
How each housing type performed last month — 31 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 32 | 52 | -38.46% | 160 | 224 | -28.57% |
| Median Sale Price | $452,500 | $483,000 | -6.31% | $432,888 | $458,851 | -5.66% |
| Median DOM | 8 | 18 | -55.56% | 37 | 25 | +48.00% |
| Sale-to-List Ratio | 100.60% | 99.72% | +0.88% | 99.37% | 99.75% | -0.38% |
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.