Market analytics · August 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
August 2026 · Market Analysis
Provo closings slow to a crawl as BYU move-in month brings fewer sales, not more
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Homes in Provo took a median 34 days to sell in August 2026, more than double July's 11 and the slowest close since January's 85-day stretch. Only 36 homes closed, well below the prior 12-month average of 59 and the lightest month of the past year. Active listings kept climbing anyway, reaching 289 — up from 260 in July and more than 60% above last August's 177.
Market pulse
Days on market have swung sharply over the past six months — 33 in March, 19 in April, 21 in May, 15 in June, 11 in July, and now 34 in August, the widest single-month jump of the stretch. Active inventory has moved the opposite direction, rising every month since March's 156 to 289 now, while new listings actually dropped to 74 in August from 119 in July. At this pace it would take about 8 months to sell everything currently on the shelf, up from 5 months in July, though with sales this thin that reading should be treated as a signal of slack rather than a precise timeline. Homes in Ridge and Harbor Park each saw two closings this month, but Harbor Park's median 58 days on market shows the stale end of the market is where the slowdown is concentrated.
Mortgage context
The 30-year averaged 6.77% in August, capping a climb from February's 6.16% low, and sits at 6.875% today — up 0.125 percentage points from 6.75% thirty days ago. That steady upward drift, combined with BYU's fall semester pulling some buyers out of the market in August, is a big part of why closings thinned out even as listings kept building.
Payment math
A median-priced Provo home now runs $503,000, and financing that with 20% down at today's 6.875% rate puts the principal-and-interest payment at $2,641 a month — $33 more than the $2,607 payment thirty days ago at 6.75%, and $189 above the $2,452 payment buyers would have locked in back in February when rates averaged 6.16%.
If you're buying
With 289 homes active against just 36 closings, buyers have more room to negotiate than any month since last winter — target listings past 58 days on market, like the pace seen in Harbor Park this month, where sellers are more likely to talk price. The under-$400K band still moves fastest at a 22-day median, so first-time buyers competing there should expect less room than the luxury segment.
If you're selling
Sixteen of August's 36 closings had already taken a price cut before selling, and the sale-to-list ratio slipped to 98.33% from July's 99.07% — proof that overpricing is getting punished faster than earlier in the summer. Price close to what similar homes over $700K are actually taking, given that segment's median 67-day wait is now the longest of any price band.
Outlook
Expect inventory to keep building through September as BYU's fall semester settles in and new listings stay light, unless rates ease back from 6.875%. Days on market will likely stay elevated in the 30s barring a rate pullback, and sellers who priced for July's fast market will need to adjust as the shelf grows.
Watch for
If new listings stay near August's 74 while active inventory keeps climbing past 300, months of supply likely pushes toward 9 or 10 by October, tipping the market further toward buyers.
"Provo's speed run ends: days on market double in a month"
Common questions about Provo this month
Is Provo a buyer's or seller's market in August 2026? ▾
It's tilting toward buyers. Active listings reached 289 against just 36 closings, days on market doubled to 34 from July's 11, and the sale-to-list ratio slipped to 98.33%. Sellers still have some footing in faster-moving price bands, but the overall pace clearly favors patient buyers right now.
Why did homes sell so much slower in Provo this August? ▾
Days on market jumped from 11 in July to 34 in August, the sharpest single-month change of the past six months. Part of it is BYU's fall semester pulling some buyer urgency out of the market, and part is that active inventory kept growing (289 homes) while new listings actually dropped to 74 from July's 119.
How much has the 30-year mortgage rate affected Provo home payments? ▾
The 30-year sits at 6.875% today, up from 6.75% a month ago, pushing the payment on a $503,000 median home to $2,641 a month with 20% down. That's $33 more than 30 days ago and $189 above what the same home would have cost in February when rates averaged 6.16%.
Are sellers cutting prices in Provo right now? ▾
Yes — 16 of the 36 homes that closed in August had already taken a price reduction before selling. Combined with the sale-to-list ratio dropping to 98.33% from July's 99.07%, it's a sign that asking prices are running ahead of what buyers will actually pay.
Which Provo neighborhoods are seeing the most activity? ▾
Herons Landing, Harbor Park, and Ridge each had two closings in August, the most of any subdivision this month. Harbor Park's homes took a median 58 days to sell, notably slower than Ridge's 4 days, showing how much the pace varies block to block right now.
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
August 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 34 · 25th percentile 13 · 75th percentile 59
Needed a price change
Sold listings that had a recorded price change before close
16 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. Herons Landing 2 sold · $770K · 14d
- 2. Harbor Park 2 sold · $423K · 58d
- 3. Ridge 2 sold · $383K · 4d
- 4. Vintage 1 sold · $1,750K · 78d
- 5. Olde Ivy 1 sold · $802K · 70d
August 2026 by property type
How each housing type performed last month — 36 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 37 | 79 | -53.16% | 420 | 531 | -20.90% |
| Median Sale Price | $500,000 | $432,000 | +15.74% | $480,695 | $464,286 | +3.53% |
| Median DOM | 34 | 26 | +30.77% | 30 | 19 | +57.89% |
| Sale-to-List Ratio | 98.38% | 98.35% | +0.03% | 98.60% | 98.82% | -0.22% |
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.