Market analytics
Smithfield, 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
Smithfield homes sit 54 days longer as Cache Valley buyers take their time
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The defining number in Smithfield's August 2026 market is 55 — the median days on market, up from just 1 day in July. That 54-day jump is the sharpest single-month slowdown in the past year, and it tells you buyers are no longer rushing. Closings recovered to 15 from July's 8, but active inventory climbed to 113 homes — more than double the 56 on the market in August 2025 — giving those buyers real options and real patience.
Market pulse
Median days on market in Smithfield has been anything but steady this year: 75 days in February, 74 in March, then a sharp compression to 18 in April, 20 in May, and 11 in June before bottoming at 1 day in July. August's rebound to 55 days looks less like a blip and more like a correction toward the longer-run pace — last August also ran 59 days. Active inventory tells the same story: listings climbed from 60 in May to 69 in June, 87 in July, and 113 in August, while the sale-to-list ratio held at 99.03%, meaning sellers aren't panicking yet, but the negotiating window is widening. Five of the 15 August closings involved a prior price reduction, a share worth watching as inventory continues to build.
Mortgage context
The 30-year rate has climbed steadily since February's 6.14% average, reaching 6.77% in August and ticking up another notch to 6.875% as of early September — a 0.125 percentage point rise over the past 30 days. That trajectory matters in a Cache Valley market where the median sale price sits at $400,000: every quarter-point move shifts the monthly payment meaningfully, and buyers who've watched rates climb for six straight months are understandably deliberate about when to commit.
Payment math
At $400,000 with 20% down, the monthly principal-and-interest payment runs $2,102 at today's 6.875% — $27 more than 30 days ago at 6.75%, and $155 above the February low when rates averaged 6.14% and that same loan would have cost $1,947 a month.
If you're buying
With 113 active homes and a median of 55 days on market, buyers have more leverage than at any point this year. Target listings past 60 days — homes in that range are where sellers are most likely to negotiate, and the under-$400K band (seven closings in August at a median of $339,900) shows there's still affordable inventory moving if you act before fall tightens the selection. Golden Forest has been the most active subdivision all year; six homes closed there in August at a median of $342,400, so recent comparable sales in that neighborhood give you a solid anchor for offers.
If you're selling
Price to where homes are actually closing, not where the active shelf is listed — the median list price in August was $450,000 while the median sale came in at $400,000, a $50,000 gap that signals the active inventory is priced above what buyers will pay. If your home is in Smithfield Ridges or North Creek Meadows, condition and presentation matter more now that buyers have 113 choices; a home that needs work priced at last spring's peak will sit. The warm August weather brought more new listings (44 this month, up from 29 in July), so competition among sellers is real heading into fall.
Outlook
Smithfield typically sees listing activity cool after Labor Day as the Cache Valley school year settles in, which should slow new inventory growth — but with 113 active homes already on the market, the supply overhang will take several months of steady closings to work through. Rates near 6.875% and still drifting upward will keep some buyers on the sideline, particularly in the under-$400K range where payment sensitivity is highest. Buyers who've been watching from Logan or North Logan may find September and October offer the best combination of selection and seller flexibility before the winter slowdown reduces both.
Watch for
At August's pace of 15 closings a month, it would take about 7.5 months to sell every home currently listed — if new listings keep arriving above 35 per month through September, that figure likely crosses 9 months of supply and pushes the sale-to-list ratio below 98% by October.
"Speed reversed, inventory doubled, buyers hold the cards — Smithfield's August reset."
Common questions about Smithfield this month
Is Smithfield a buyer's or seller's market in August 2026? ▾
It's shifting toward buyers. With 113 active homes, a median of 55 days on market, and a $50,000 gap between the median list price and median sale price, buyers have more negotiating room than at any point this year. Sellers can still get close to asking — the sale-to-list ratio was 99.03% — but only if they price realistically from the start.
Why did homes take so much longer to sell in August than July? ▾
July's 1-day median was unusually compressed — only 8 homes closed that month, and several appear to have been pre-sold or under contract before hitting the market. August's 55-day median, with 15 closings, is much closer to the historical norm for Smithfield; last August also ran 59 days. The July number was an outlier, not a trend.
Are home prices dropping in Smithfield? ▾
The August median sale price was $400,000, down from $472,000 in July, but both months had small closing counts (15 and 8, respectively) that make month-to-month comparisons noisy. A year ago, August's median was $424,000, so prices are modestly softer year-over-year. The more reliable signal is the $50,000 spread between what sellers are listing at and what buyers are paying — that gap suggests some asking prices need to come down.
Which neighborhoods are seeing the most activity in Smithfield right now? ▾
Golden Forest has been the most consistently active subdivision all year, with 6 closings in August at a median sale price of $342,400 — the most affordable segment of the market. Smithfield Ridges closed one home at $562,500, and North Creek Meadows had one closing at $650,000. Three Creeks Estates had one sale at $770,000 after 129 days on market, a reminder that higher-priced homes are taking significantly longer to move.
How are mortgage rates affecting buyers in Smithfield? ▾
The 30-year rate has risen from 6.14% in February to 6.875% today, adding $155 to the monthly principal-and-interest payment on a median-priced $400,000 home with 20% down. That's meaningful in a market where many buyers are also considering Logan or North Logan as alternatives. FHA financing at 6.375% and VA loans at 6.5% are worth exploring for eligible buyers, as they can meaningfully reduce that monthly number.
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
15 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 55 · 25th percentile 10 · 75th percentile 114
Needed a price change
Sold listings that had a recorded price change before close
5 of 15 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. Golden Forest 6 sold · $342K · 45d
- 2. Three Creeks Estates 1 sold · $770K · 129d
- 3. North Creek Meadows 1 sold · $650K
- 4. Smithfield Ridges 1 sold · $563K · 7d
- 5. Bobcat Meadows 1 sold · $489K
August 2026 by property type
How each housing type performed last month — 15 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 15 | 22 | -31.82% | 129 | 164 | -21.34% |
| Median Sale Price | $400,000 | $424,000 | -5.66% | $454,107 | $461,314 | -1.56% |
| Median DOM | 55 | 59 | -6.78% | 38 | 45 | -15.56% |
| Sale-to-List Ratio | 99.03% | 99.75% | -0.72% | 98.83% | 99.29% | -0.46% |
Past months
Browse historical Smithfield reports — each month's snapshot stays at its own permanent URL.
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.