Market analytics · July 2026 archive
Salt Lake City, 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
Salt Lake City closings drop 36% as summer rate hikes cool the market
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Closed sales fell to 135 in July, down 36% from June's 212 and the lightest month since January's 152 — a sharp break after five straight months averaging near 245. Active listings kept climbing anyway, reaching 857, up from 663 in June and more than 200 higher than any month since last summer. With median list price at $539,999 well under the $655,000 median sale price, the mix skewed toward pricier closings even as everyday demand pulled back.
Market pulse
Days on market ticked up slightly to 13 in July after bottoming near 9 in May, but the bigger story is the collapse in sold-above-list activity: only 29 homes sold above asking in July versus 90 in May, while 84 sold below list. Absorption stretched to 6.35 months of supply-equivalent pace, up sharply from 3.13 in June and 2.24 back in April and May, signaling inventory is building faster than the current sales pace can work through. New listings held fairly steady at 356, down only modestly from June's 370, so the active count is climbing mostly because homes aren't leaving the shelf as fast. PARK subdivision kept its usual top spot with 11 sales, but at a $525,000 median — below both May's $582,500 and June's $530,000 for the same area.
Mortgage context
The 30-year averaged 6.79% in July, continuing a climb from February's 6.19% low through 6.42% in April and 6.66% in June. Today's spot rate sits at 6.875%, up 0.25 percentage points from 6.625% just 30 days ago, adding $87 a month to the payment on a median-priced home — a 2.6% jump in one month alone. That kind of rate move is a real driver of July's pullback in closings, layered on top of typical late-summer fatigue.
Payment math
A $655,000 median home with 20% down runs $3,442 a month in principal and interest at today's 6.875% rate, $87 more than the $3,355 it would have cost 30 days ago at 6.625%, and $236 above the $3,206 payment homebuyers locked in back in February 2026 when rates averaged 6.19%.
If you're buying
With only 29 of 135 closings going above list price and 84 selling below, you have room to negotiate — especially over $700K, where median days on market is just 10 but sale prices are running below list far more often than not. Look at PLAT F and PLAT A, both closing under $440,000 with days on market in the single digits to 20s, if you're priced under $500K. Anywhere with 40+ days on market, treat the list price as a starting point, not a target.
If you're selling
Sale-to-list slipped to 97.96%, the softest reading since spring, so pricing 2-3% below what you think comparable homes are worth will get more attention than testing the top of the range. With 857 active listings against just 135 closings, buyers can be patient — homes in COUNTRY CLUB HEIGHTS and YALECREST that closed this month took 20 and 8 days respectively, but only because they were priced to move, not to test the market. Don't chase June's numbers; July's buyer pool is thinner and pickier.
Outlook
Expect inventory to keep building into August unless closings rebound — rate relief looks unlikely given the climb from 6.42% in April to nearly 6.9% today. Sellers should brace for slower absorption and softer sale-to-list ratios through late summer, while buyers who can stomach today's payment have more leverage than they've had since at least last winter. Watch whether closings recover toward the 200-plus pace seen from March through June, or settle into a lower rate-driven baseline.
Watch for
If active listings keep climbing past July's 857 while closings stay near 135 a month, months-of-supply likely pushes toward 8 to 9 by early fall, further softening the sale-to-list ratio below 97%.
"Salt Lake City's inventory swells while buyers step back"
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
143 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 14 · 25th percentile 6 · 75th percentile 46
Needed a price change
Sold listings that had a recorded price change before close
46 of 143 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. Park 12 sold · $523K · 11d
- 2. Plat F 4 sold · $412K · 8d
- 3. Yalecrest 2 sold · $1,188K · 8d
- 4. Country Club Heights 2 sold · $733K · 20d
- 5. Plat A 2 sold · $437K · 28d
July 2026 by property type
How each housing type performed last month — 140 closings total across subtypes.
Summary Statistics
| Metric | Jul-26 | Jul-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 143 | 248 | -42.34% | 1,463 | 1,623 | -9.86% |
| Median Sale Price | $650,000 | $548,500 | +18.51% | $582,479 | $537,879 | +8.29% |
| Median DOM | 14 | 17 | -17.65% | 18 | 20 | -10.00% |
| Sale-to-List Ratio | 97.93% | 98.49% | -0.57% | 98.74% | 98.81% | -0.07% |
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.