Market analytics · August 2026 archive
Spanish Fork, 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
Spanish Fork closings dropped to 25 in August, but the homes that sold moved fast.
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The homes that did sell in Spanish Fork this August moved at a median 11 days — down from 33 days in July and the fastest pace since May's similarly compressed reading. That speed, though, tells only half the story: just 25 homes closed in August, compared to the prior 12-month average of 49 closings, so the quick pace reflects a narrow group of highly motivated buyers rather than broad demand. Meanwhile, active inventory reached 288 homes — up from 214 in July and 157 in March — meaning the shelf is fuller than it's been all year even as the closing table stays quiet.
Market pulse
Active listings have climbed every month since March — 157, then 152 in April, 171 in May, 198 in June, 214 in July, and now 288 in August — while closings have stayed well below the pace needed to keep up. Of the 25 homes that closed in August, 13 sold below list price and 10 had already taken a price cut before going under contract. The sale-to-list ratio held at 99.08%, nearly identical to June's 99.16%, so sellers are still getting close to asking — but only the ones priced correctly are getting offers at all. The median list price of $578,950 sits close to the median sale price of $569,900, a tighter gap than we saw in May and June when the active shelf was priced well above what buyers were actually paying.
Mortgage context
The 30-year fixed rate has climbed steadily since February's 6.14% monthly average, moving through 6.48% in March, 6.66% in June, and 6.79% in July before settling at a 6.77% average in August. At today's spot rate of 6.875% — up 0.125 percentage points over the past 30 days — monthly carrying costs on a typical Spanish Fork home are meaningfully higher than they were six months ago, and that gap is almost certainly a factor in why fewer buyers are reaching the closing table.
Payment math
A $570,000 home financed with 20% down carries a monthly principal-and-interest payment of $2,995 at today's 6.875% rate — $38 more than 30 days ago at 6.75%, and $220 above the February low when rates averaged 6.14% and that same loan would have run $2,775 a month.
If you're buying
With 288 active listings and only 25 closings last month, buyers have real room to negotiate — especially on homes that have already taken a price cut. Target listings past 30 days on market; the $400,000–$700,000 band, where 15 of August's 25 closings landed, is where sellers are most likely to move on price. Meadow Creek and Sunset Park both saw closings in August at prices that reflect the current supply reality — pull recent comparable sales in those neighborhoods before making an offer.
If you're selling
Price to where the market is closing, not where it was in spring. The median sale price of $569,900 is meaningful, but with 288 homes competing for a pool of buyers that produced only 25 closings in August, overpricing by even 3–4% means sitting. Homes above $700,000 — like the two that closed in Maple Mountain at a median $816,500 — moved in 7 days, suggesting that segment rewards sharp pricing; Legacy Farms at Spanish Fork and Canyon View Meadows sellers should study those results carefully before setting their number.
Outlook
Inventory at 288 homes heading into September, combined with rates near 6.875%, points to continued buyer selectivity through October. Historically, Spanish Fork sees new listings slow after Labor Day, which could stabilize the active count — but closings will need to pick up from August's 25 to prevent the supply imbalance from widening further. Buyers relocating from higher-cost Utah County markets like Provo or Orem may find the most opportunity here in the next 60–90 days, particularly if rate relief materializes.
Watch for
At August's closing pace of 25 sales per month, it would take roughly 11.5 months to sell every home currently listed — if new listings keep arriving at 100-plus per month through September, that figure climbs past 13 months and sellers in the $500,000–$600,000 range will face meaningful downward pressure on achievable prices.
"Thin volume, quick closings, and 288 listings waiting — Spanish Fork's August split the story in two."
Common questions about Spanish Fork this month
Is Spanish Fork a buyer's or seller's market in August 2026? ▾
It's leaning toward buyers right now. With 288 active listings and only 25 closings in August, there's far more supply than demand. Sellers are still getting about 99% of their asking price on homes that sell, but 13 of 25 closings went below list — and 10 involved a price cut before the deal was struck.
Why did homes sell so fast in August if the market is slow? ▾
The 11-day median is a bit misleading. Only 25 homes closed — well below the typical monthly pace — so the speed reflects a small group of well-priced homes that attracted motivated buyers quickly. The other 263 active listings are still waiting. Fast closings and thin volume can coexist when buyers are highly selective.
How does August 2026 compare to August 2025 in Spanish Fork? ▾
August 2025 produced 64 closings at a median sale price of $447,450. This August had 25 closings at a median of $569,900 — so prices are up about 27% year over year, but volume is down 61%. Active inventory also grew from 161 homes a year ago to 288 today, a 79% increase.
What price range is actually moving in Spanish Fork right now? ▾
The $400,000–$700,000 band accounted for 15 of August's 25 closings, with a median sale price of $515,000. Eight homes above $700,000 also closed, including two in Maple Mountain at a median of $816,500 in just 7 days. The under-$400,000 segment was nearly absent — only 2 closings — reflecting how little entry-level inventory remains.
Should I wait for mortgage rates to drop before buying in Spanish Fork? ▾
Rates have moved from 6.14% in February to 6.875% today, adding $220 a month to the principal-and-interest payment on a median-priced home. Whether they fall meaningfully in the next 90 days is uncertain, but the current inventory level — 288 homes — gives buyers negotiating room that didn't exist earlier this year. Waiting for rates while inventory tightens is a trade-off worth thinking through carefully.
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
26 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 14 · 25th percentile 0 · 75th percentile 19
Needed a price change
Sold listings that had a recorded price change before close
11 of 26 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. Maple Mountain 2 sold · $817K · 7d
- 2. Canyon View Meadows 2 sold · $747K · 9d
- 3. Meadow Creek 2 sold · $530K · 23d
- 4. Whispering Willow 2 sold · $437K
- 5. Sunset Park 2 sold · $426K · 14d
August 2026 by property type
How each housing type performed last month — 25 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 26 | 64 | -59.38% | 352 | 450 | -21.78% |
| Median Sale Price | $592,450 | $447,450 | +32.41% | $508,112 | $472,785 | +7.47% |
| Median DOM | 14 | 33 | -57.58% | 33 | 28 | +17.86% |
| Sale-to-List Ratio | 99.12% | 98.91% | +0.21% | 99.62% | 99.41% | +0.21% |
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.