Market analytics · April 2026 archive
Millcreek, 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
April 2026 · Market Analysis
Millcreek closings accelerate in April as luxury demand pulls the market forward.
Get this report emailed every month
✓ You're in — see you next month.
In April 2026, Millcreek homes that sold moved off the market in a median of just 13 days — down sharply from 22 days in March and the fastest pace since May 2025's 7-day median. That acceleration came even as active inventory climbed to 114 homes, up from 91 in March and 72 in January, giving buyers more to choose from than at any point in the past year. A year ago in April 2025, Millcreek posted 33 closings at a median sale price of $605,000; this April delivered 35 closings at $704,900 — a $99,900 gain in the median with nearly identical transaction volume.
Market pulse
Median days on market in Millcreek traced a wide arc over the past six months: 18 days in November, climbing to 61 in December, then settling into a 28–29 day range through January and February before compressing to 22 in March and 13 in April — the fastest pace in nearly a year. New listings accelerated in parallel, rising from 18 in both November and December to 37 in January, 50 in February, 44 in March, and 64 in April, the highest monthly new-listing count in the trailing 12 months. Active inventory followed, reaching 114 homes in April versus 65 at the December trough. The sale-to-list ratio held firm at 98.7% in April, up from 98.08% in March, suggesting that even with more supply on hand, sellers are not being forced into meaningful concessions — at least not yet.
Mortgage context
The 30-year conventional rate sits at 6.625% today, up 0.375 percentage points over the past 30 days from 6.25% — a meaningful move that adds $139/month to a principal-and-interest payment on a median-priced Millcreek home. Looking back over the past six months, rates touched a low monthly average of 6.19% in February before climbing to 6.48% in March, easing slightly to a 6.42% April average, and now pushing higher again; that February-to-today climb of 0.43 percentage points has added real friction for buyers financing at the conforming limit. Jumbo borrowers face an even steeper hurdle at 7.375%, which matters in a market where 19 of April's 35 closings were above $700,000.
Payment math
On a median-priced home today, P&I lands at $3,611/mo at 6.625% — $139/mo more than 30 days ago at 6.25%, and $161/mo above the February low when rates averaged 6.19% and P&I would have been $3,450.
If you're buying
Target homes in the $400K–$700K band that have been sitting 30 or more days — the April median DOM for that segment was 18 days, but the 75th-percentile DOM citywide was 58 days, meaning a meaningful tail of listings is stale and more negotiable. In neighborhoods like Mountair Acres and along the Parleys View corridor, where price points straddle the conforming/jumbo boundary, sellers who haven't adjusted to today's 6.625% rate environment may still be priced to last winter's buyer pool; those are the homes worth targeting with an offer below ask. If you're financing above the conforming limit, compare the 7.375% jumbo rate against a conventional loan with a larger down payment — the math may favor bringing more cash to closing.
If you're selling
The over-$700K segment is carrying Millcreek right now — 19 of April's 35 closings were in that band, with a median DOM of just 5 days and a median sale of $850,000, so well-prepared luxury homes near Mt. Olympus Cove and Forest Hills are still moving quickly. If you're in the $400K–$700K range, price sharply: the median sale in that band was $649,500 in April against a citywide median list of $591,950, but 22 of 35 closings still came in below list price, and 2 sellers needed a price reduction to close. With 64 new listings hitting in April and inventory at 114, buyers in the mid-range have real alternatives — differentiate on condition and price within 1–2% of recent comps rather than testing the ceiling.
Outlook
Millcreek enters May with 114 active listings and a new-listing pace of 64 per month — if that rate holds, supply will continue building through the spring permitting season, which typically runs through October. The rate environment is working against affordability: at 6.625% today and a May monthly average tracking toward 6.51%, buyers financing near the conforming limit are absorbing payments that are $161/month higher than February's low, which will keep pressure on the $400K–$700K segment even as the luxury tier remains active. Expect DOM to tick back up modestly as inventory accumulates, and watch whether the sale-to-list ratio holds above 98% — a slip below that level would signal that the mid-range is softening faster than the headline numbers suggest.
Watch for
If the 30-year rate crosses 7% — putting jumbo rates above 7.75% — expect the over-$700K segment that drove more than half of April's closings to slow materially, pushing Millcreek's months-of-supply above 4.5 and median DOM back toward the 25–30 day range.
"Millcreek's spring sprint: faster closings, more listings, and the over-$700K segment doing the heavy lifting."
Common questions about Millcreek this month
Is Millcreek a buyer's or seller's market in April 2026? ▾
It depends on the price band. Above $700K, Millcreek is firmly a seller's market — 19 closings in that segment posted a median DOM of just 5 days and a 98.7% sale-to-list ratio. In the $400K–$700K range, conditions are more balanced: inventory is building, 22 of 35 April closings came in below list price, and some homes are sitting past 30 days, giving buyers room to negotiate.
Why did the median sale price jump to $704,900 in April when there are more homes for sale? ▾
The composition of closings shifted upward: 19 of April's 35 sales were above $700K, compared to 17 of 42 in March. That mix shift — not a broad price increase across all segments — is the primary driver of the higher median. The $400K–$700K band actually closed at a median of $649,500, and the under-$400K segment closed at $295,000, both consistent with recent months.
How are rising mortgage rates affecting Millcreek buyers right now? ▾
At today's 6.625% rate, a buyer financing a median-priced $704,900 home faces a P&I payment of $3,611/month — $139 more per month than 30 days ago when rates were at 6.25%, and $161 above February's low. Jumbo borrowers (loans above the conforming limit) are looking at 7.375%, which meaningfully raises the monthly cost on Millcreek's many transactions above $700K.
Are homes near Mt. Olympus and Forest Hills still selling quickly? ▾
Yes. The luxury segment anchored by Mt. Olympus Cove, Forest Hills, and Parleys View continued to move fast in April — the over-$700K band posted a median DOM of just 5 days. A Forest Hills home closed at $2,624,000 in April, and a Parleys View property closed at $1,705,000, both reflecting continued demand for Millcreek's canyon-adjacent, higher-elevation properties.
With inventory rising, should sellers in Millcreek be worried about sitting on the market? ▾
Sellers in the luxury tier have little to worry about right now, but mid-range sellers ($400K–$700K) face a more competitive spring. Active listings reached 114 in April — up 50% from 76 a year ago — and new listings are running at 64 per month. Homes in the $400K–$700K band that aren't differentiated on condition or priced at or below recent comps are the ones accumulating days on market; the 75th-percentile DOM citywide was 58 days in April, meaning a meaningful share of listings are already sitting well past the median.
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
April 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
37 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 11 · 25th percentile 3 · 75th percentile 56
Needed a price change
Sold listings that had a recorded price change before close
2 of 37 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. Lakeview Heights Amd 2 sold · $739K · 3d
- 2. Mountair Acres 2 sold · $699K · 30d
- 3. Quailbrook East 2 sold · $246K · 40d
- 4. Forest Hills Sub 1 sold · $2,624K · 61d
- 5. Parleys View 1 sold · $1,705K · 11d
April 2026 by property type
How each housing type performed last month — 37 closings total across subtypes.
Summary Statistics
| Metric | Apr-26 | Apr-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 37 | 33 | +12.12% | 132 | 101 | +30.69% |
| Median Sale Price | $700,000 | $605,000 | +15.70% | $621,714 | $591,502 | +5.11% |
| Median DOM | 11 | 12 | -8.33% | 22 | 25 | -12.00% |
| Sale-to-List Ratio | 98.53% | 98.83% | -0.30% | 98.54% | 98.49% | +0.05% |
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.