Market analytics · July 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
July 2026 · Market Analysis
Millcreek homes close in 8 days even as the shelf of listings hits 127.
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Homes that sold in Millcreek this July moved to contract in a median of just 8 days, down from 13 in both May and June and the fastest pace of the past six months. That speed is happening alongside a rising shelf of choices — active listings reached 127, up from 109 in June and 97 in May — and just 24 closings, the lightest month since last November's 17. It's a split market: the homes that move, move immediately, while a growing pile of others sit unsold.
Market pulse
Days on market have compressed steadily since April's 12, holding at 13 through May and June before dropping to 8 in July — the fastest read since before last winter. But sold counts have moved the other way, from 37 in April to 35, then 26, then 24 in July, even as active inventory climbed from 85 to 127 over the same stretch. The sale-to-list ratio sits at 98.84%, down slightly from June's 99.5%, and price cuts hit 6 of July's 24 closings, up from zero as recently as March. Compared to July 2025's 33 sales at a 20-day median, this July closed fewer homes twice as fast — a market where speed and volume have decoupled.
Mortgage context
The 30-year rate has held flat at 6.75% over the past 30 days, but it's climbed steadily since February's 6.19% average, through 6.48% in March, 6.55% in May, and 6.66% in June. That six-month climb, not a recent jump, is the bigger affordability story for Millcreek buyers weighing a $719,000 median-priced home this month.
Payment math
Financing July's $719,000 median home with 20% down runs $3,731 a month in principal and interest at today's flat 6.75% rate — unchanged from 30 days ago, but $212 more than the $3,519 payment buyers locked in back in February, when rates averaged 6.19%.
If you're buying
Closings that do happen are moving fast — median days on market fell to 8 in July, with a quarter of homes gone in a single day — so have financing ready before you tour. Active listings reached 127, the highest of the past six months, giving you more room to negotiate below the $600,000 median list price, especially in the under-$400,000 band where the two July closings still took 36 days. Look at Park and Canyon Rim, both of which posted closings this month, if you want a Millcreek address without the wait times seen in pricier Mt. Olympus streets.
If you're selling
The Ivy sold three homes this month at a flat $600,000 with zero days on market — that's the template if you're pricing a townhome or newer build, and it's the fastest-moving pocket in the city right now. Elsewhere, price close to what's actually closing, not the $600,000 median list: July's median sale of $719,000 came in well above list, but that gap reflects a heavier mix of over-$700,000 homes (13 of 24 sales), not a broad seller's edge. With inventory up to 127 from 109 in June and only 24 closings, homes outside hot pockets like The Ivy need to be sharp on day one or risk sitting alongside the growing shelf of active listings.
Outlook
Expect inventory to keep climbing through late summer as new listings hold near 46 a month while closings lag, pushing the shelf past 127 before the fall slowdown typically sets in along the Wasatch Front. Rates near 6.75% will keep some buyers on the sideline, particularly in the $400,000-$700,000 band where July saw only 9 sales versus 18 in March. Watch corridors like Canyon Rim and the streets near Mount Olympus for whether higher-end demand keeps absorbing the over-$700,000 supply that made up 13 of July's 24 closings.
Watch for
If new listings keep outpacing closings at July's pace — 46 new against just 24 sold — active inventory could push past 140 by September, softening the sale-to-list ratio below 98%.
"Millcreek in July: fewer sales, faster ones, more homes to choose from."
Common questions about Millcreek this month
Is Millcreek a buyer's or seller's market in July 2026? ▾
It's mixed by segment. Inventory reached 127 active listings against just 24 closings, which favors buyers overall, but homes priced right — like the three that closed in The Ivy at a flat $600,000 with zero days on market — are still moving instantly. If you're not in one of those fast-moving pockets, expect more negotiating room than a year ago.
Why did the median sale price jump to $719,000 in July? ▾
It's a mix shift, not broad appreciation — 13 of July's 24 closings were over $700,000, compared to just 9 in the $400,000-$700,000 range. The under-$400,000 band saw only 2 sales all month, so the median is being pulled up by a heavier share of higher-end closings rather than price growth across the board.
How much has the 30-year rate cost Millcreek buyers this year? ▾
Rates have climbed from a six-month low of 6.19% in February to 6.75% today, adding $212 a month to the payment on a median-priced home. On July's $719,000 median, that's the difference between a $3,519 payment in February and $3,731 now.
Should I expect more homes to choose from later this summer? ▾
Likely yes. New listings have held near 46-68 a month since April while closings have fallen to 24, so active inventory has climbed from 85 in April to 127 in July. Unless closings pick back up, the shelf of unsold homes should keep growing into late summer.
Are days on market really faster, or is that just a few quick sales skewing things? ▾
It's broad-based — the fastest quarter of homes closed in just 1 day in July, down from 3 days in June, and the median across all 24 sales was 8 days. That's the quickest read of the past six months, even with fewer total sales.
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
July 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
24 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 8 · 25th percentile 1 · 75th percentile 23
Needed a price change
Sold listings that had a recorded price change before close
6 of 24 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 3 sold · $600K · 0d
- 2. Park 2 sold · $1,701K · 17d
- 3. Mt. Olympus 1 sold · $1,541K · 8d
- 4. Canyon Rim 1 sold · $1,525K · 19d
- 5. Heugly Acres 1 sold · $1,295K
July 2026 by property type
How each housing type performed last month — 24 closings total across subtypes.
Summary Statistics
| Metric | Jul-26 | Jul-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 24 | 33 | -27.27% | 217 | 211 | +2.84% |
| Median Sale Price | $719,000 | $640,000 | +12.34% | $640,909 | $589,354 | +8.75% |
| Median DOM | 8 | 20 | -60.00% | 18 | 19 | -5.26% |
| Sale-to-List Ratio | 98.84% | 98.58% | +0.26% | 98.82% | 98.71% | +0.11% |
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.