Market analytics · July 2026 archive
Provo, 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
Provo homes close in 8 days as luxury sales near The Preserve lift July's median
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Homes in Provo sold in a median of just 8 days in July 2026, down from 15 in June and the fastest close of the past six months. That speed is happening even as active listings reached 310 — up from 246 in June and more than double December's 129 — giving buyers more to browse while the ones who move fast still win. Only 48 homes closed, below the prior 12-month average of 60, so this month's $559,600 median sale price reflects a smaller, pricier group of closings rather than a broad market shift.
Market pulse
Days on market have compressed steadily since May's 21, falling to 15 in June and now 8 in July — the fastest turnaround of the past six months even as the top quarter of listings still take 36 days. Active inventory has more than doubled since December's low, climbing from 201 in May to 246 in June to 310 in July, while new listings actually eased slightly to 119 from June's 128. Sale-to-list ratio ticked up to 99.16%, the tightest of the run, and 16 of July's 48 closings had taken a price cut first — a meaningful share, though that column only became reliable starting in May. Closings over $700,000 jumped to 13 from June's 9, concentrated in homes near The Preserve, Stone Gate, and 250 I Street, which pulled both the median and average sale price up sharply.
Mortgage context
The 30-year mortgage rate has climbed steadily from February's 6.19% average to July's 6.79%, and now sits at 6.875% — up 0.25 percentage points in the past 30 days alone from 6.625%. That climb has added $74 to the monthly payment on a median-priced Provo home and is likely part of why closings stayed light this month even as homes sold fast.
Payment math
A $560,000 median-priced Provo home financed with 20% down now runs $2,941 a month in principal and interest at 6.875%, $74 more than 30 days ago when the rate sat at 6.625% and the payment was $2,867 — and $202 above February's low of $2,739, when rates averaged 6.19%.
If you're buying
Speed is now your biggest obstacle: a quarter of July closings went under contract within 3 days, so have financing pre-approved before you tour. High-end inventory is where leverage still exists — homes over $700K took a median 8 days but 13 of them closed, well above June's 9, so sellers there are still negotiable on terms even if not price. Skip anchoring to the $495,000 median list price; actual closings ran $64,600 above that.
If you're selling
List like it's still June — homes are selling at 99.16% of list, the tightest ratio in this run, so overpricing is the only thing that will slow you down now. Price-cut sellers are a real group this month (16 of 48 closings took a reduction first), so if a home like those near Grandview Park North or The Preserve isn't drawing offers in the first week, adjust fast rather than wait it out. With active listings at 310 — up from 246 in June and 201 in May — you're competing against the most choice buyers have had all year.
Outlook
Expect inventory to keep building into fall — listings have climbed every month since December even as new listings cooled slightly in July, a pattern that typically continues once BYU's fall semester move-in wraps up. With rates near 6.9% and climbing, some buyers may pull back further, which could ease the pace of sales even if the current 310 active listings keep growing. Sellers pricing to last month's near-99% ratio should still expect fast offers on well-prepped homes, but the days of near-guaranteed multiple offers in every price band are fading outside the luxury segment.
Watch for
If the 30-year crosses 7% in August, expect closings to fall further below the 60-per-month average and active inventory to push past 350 by September as fewer buyers can absorb the added payment.
"Provo sells fast, but fewer are buying"
Common questions about Provo this month
Is Provo a buyer's or seller's market in July 2026? ▾
It still leans toward sellers on speed — homes sold at 99.16% of list price with a median of just 8 days on market, the fastest close of the past six months. But active listings hit 310, up from 246 in June and more than double December's 129, so buyers finally have real inventory to choose from even as good homes move fast.
Why did the median sale price jump to $559,600 in Provo this month? ▾
Closings shifted toward higher-end homes: 13 of the 48 July sales were over $700,000, versus 9 in June, including several homes above $1 million near The Preserve and Stone Gate. With only 48 total closings versus a 12-month average of 60, a handful of luxury sales pulled the median and average price up more than a typical month would.
How much has the 30-year mortgage rate changed recently in Provo? ▾
The 30-year averaged 6.19% back in February and has climbed to 6.875% today, up 0.25 percentage points in just the last 30 days from 6.625%. That 30-day move alone added $74 to the monthly payment on a median-priced Provo home.
Why are homes selling so fast in Provo right now? ▾
Median days on market fell to 8 in July from 15 in June and 21 in May — a near 47% drop from June alone. Warm summer weather typically brings out serious buyers in Utah County, and with sale-to-list ratios near 99%, well-priced homes aren't sitting long enough for buyers to negotiate much.
Should I expect more homes to choose from in Provo this fall? ▾
Likely yes in the near term — active listings have climbed every month since December's 129, reaching 310 in July, even though new listings actually eased slightly to 119 from June's 128. If new listings keep slowing while rates near 7% cool demand, that inventory could keep building into fall.
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
50 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 10 · 25th percentile 3 · 75th percentile 44
Needed a price change
Sold listings that had a recorded price change before close
16 of 50 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. 250 I Street 2 sold · $1,050K · 0d
- 2. Stone Gate 1 sold · $6,100K
- 3. The Preserve 1 sold · $2,075K · 42d
- 4. The Estates At Burr Orchards 1 sold · $975K
- 5. Grandview Park North 1 sold · $919K
July 2026 by property type
How each housing type performed last month — 49 closings total across subtypes.
Summary Statistics
| Metric | Jul-26 | Jul-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 50 | 70 | -28.57% | 380 | 452 | -15.93% |
| Median Sale Price | $559,600 | $425,000 | +31.67% | $478,708 | $469,929 | +1.87% |
| Median DOM | 10 | 17 | -41.18% | 30 | 18 | +66.67% |
| Sale-to-List Ratio | 99.06% | 98.63% | +0.44% | 98.61% | 98.90% | -0.29% |
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.