Market analytics · June 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
June 2026 · Market Analysis
Millcreek closings drop 28% as buyers near Wasatch Boulevard face 7.25% rates
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Millcreek closed just 26 homes in June 2026, down from 36 in May and well below the 43 sold in June 2025 — a pullback in actual buying activity, not just a pricing story. Active listings kept climbing to 94, the highest of the past six months, while new listings eased to 47 from May's 68, so the growing inventory is sitting rather than turning over quickly. With homes selling at a median of just 13 days but volume thinning out, this reads as a market where the buyers left are moving fast, but fewer buyers are showing up at all.
Market pulse
Sold counts have swung from 42 in March to 37 in April, 36 in May, and now 26 in June — a steady descent even as the sale-to-list ratio climbed to 99.5%, the highest reading of the past six months. Median days on market has held tight at 12-13 days since April, but the spread is widening: this month's 75th-percentile days-on-market fell to 30 from 33 in May, meaning most sales are still quick, but active inventory building to 94 homes suggests the properties that aren't moving in two weeks are starting to stack up. Opus Green, a repeat name in the top-subdivisions list, saw its June sales sit a median of 73 days versus a 0-day flip in June 2025, showing even popular pockets aren't immune. Compared to June 2025's 43 sales and $522,000 median price, this June's 26 sales at $667,500 look stronger on price but considerably thinner on volume.
Mortgage context
The 30-year rate has climbed steadily since February's 6.13% average, through 6.48% in March, 6.55% in May, and 6.66% in June, and now sits at a 7.25% spot rate — up 0.5 percentage points in the past 30 days alone. That's a meaningful jump for anyone financing a home along the Mount Olympus bench or in the Millcreek Cottages developments, where price points already run well above the citywide median.
Payment math
A median-priced Millcreek home at $668,000 with 20% down now runs $3,643 a month in principal and interest at 7.25%, which is $179 more than the $3,464 payment buyers faced just 30 days ago at 6.75%, and a full $397 above the $3,246 payment available back in February when rates averaged 6.13%.
If you're buying
Closings dropped to 26 in June from 36 in May, so competition for the homes that do come up has thinned — the under-$400K band saw only 3 sales, so budget buyers need to move fast when something in that range hits Opus Green or Quailbrook East, where recent deals closed in the low $500Ks. With sale-to-list at 99.5%, don't assume you have room to lowball; instead target listings sitting past the 30-day mark (the 75th-percentile line) where sellers are more likely to negotiate. If you're priced out near the Wasatch Boulevard corridor, Holladay and Cottonwood Heights are worth a look as close-in alternatives.
If you're selling
List against what's actually closing, not against the $594,000 median ask — the median sale price of $667,500 shows buyers are paying above list-price expectations in the 400-700K band, where June's median days on market ran just 6. Homes in Opus Green took a median of 73 days this month, a reminder that even in a tight market, staging and condition matter more once you're past three weeks. If your home is near the Mount Olympus bench or Highland Circle area, lean into the view and lot premium — that's where June's highest sales landed.
Outlook
Expect the volume slowdown to continue through late summer if the 30-year rate holds near 7.25% — new listings already eased to 47 in June from 68 in April and May, suggesting sellers are pulling back too. Buyers with financing lined up should have more negotiating room on homes near the Mount Olympus Acres and Highland Circle areas that sat unsold past 30 days, while sellers along Wasatch Boulevard and closer to the Cottonwood Heights line should expect fewer competing offers than they saw this spring.
Watch for
If the 30-year rate keeps climbing toward 7.5% by fall, expect June's already-thin 26 closings to slip further, pushing active inventory past 100 homes and absorption above 4 months by September.
"Millcreek's demand cools as rates climb past 7%"
Common questions about Millcreek this month
Is Millcreek a buyer's or seller's market in June 2026? ▾
It's tilting toward buyers on volume but sellers on price. Only 26 homes closed in June, down from 36 in May, yet the sale-to-list ratio reached 99.5% and the median sale price hit $667,500. Fewer transactions are happening, but the ones that close are still fetching close to full asking price.
Why did the number of homes sold in Millcreek drop so much in June? ▾
Closings fell to 26 from 36 in May and 43 in June 2025, likely tied to the 30-year rate climbing to 7.25% today from 6.13% back in February. Higher borrowing costs are pricing out some buyers who would have closed in prior months, even as active inventory grew to 94 listings.
How much has the rate increase affected monthly payments on a Millcreek home? ▾
On the $668,000 median-priced home with 20% down, the monthly principal-and-interest payment is now $3,643 at 7.25%, up $179 from just 30 days ago and $397 above February's low of $3,246. That's a real hit to purchasing power for buyers looking near Opus Green or the Millcreek Cottages developments.
Are homes still selling fast in Millcreek despite the slowdown? ▾
Yes — median days on market held at 13 days in June, similar to April and May. But the spread is widening: some listings, like those in Opus Green this month, took a median of 73 days to sell, so pace varies a lot by neighborhood and price band.
Should sellers near Wasatch Boulevard price above the current median list? ▾
Not necessarily. June's median list price was $594,000 but the median sale price came in at $667,500, showing buyers are paying above initial asking prices in the 400-700K band. Pricing too high risks sitting past 30 days, when negotiating leverage shifts toward buyers.
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
26 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 13 · 25th percentile 3 · 75th percentile 30
Needed a price change
Sold listings that had a recorded price change before close
8 of 26 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. The Ivy 2 sold · $600K · 0d
- 2. Opus Green 2 sold · $524K · 73d
- 3. Park 1 sold · $2,361K · 3d
- 4. Highland Circle 1 sold · $1,600K · 30d
- 5. Mount Olympus Acres 1 sold · $1,400K · 3d
June 2026 by property type
How each housing type performed last month — 25 closings total across subtypes.
Summary Statistics
| Metric | Jun-26 | Jun-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 26 | 43 | -39.53% | 194 | 178 | +8.99% |
| Median Sale Price | $667,500 | $522,000 | +27.87% | $628,460 | $579,965 | +8.36% |
| Median DOM | 13 | 14 | -7.14% | 19 | 19 | 0.00% |
| Sale-to-List Ratio | 99.50% | 98.51% | +1.00% | 98.83% | 98.74% | +0.09% |
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.