Market analytics · May 2026 archive
Syracuse, 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
May 2026 · Market Analysis
Syracuse listings climb 56% from a year ago, giving buyers more room to negotiate along the Shoreline corridor.
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The defining shift in Syracuse this May is on the supply side: active listings reached 128 homes, up from 82 a year ago in May 2025 — a 56% increase that gives buyers more choices than they've had in over a year. New listings also accelerated, with 60 homes hitting the market in May 2026 compared to 39 in May 2025, a 54% jump that reflects sellers growing more confident heading into summer. Despite the inventory build, the median sale price held at $597,000 in May 2026, up from $585,000 a year ago, suggesting that demand hasn't evaporated — it's just more spread out across a larger pool of available homes.
Market pulse
Active inventory in Syracuse has climbed steadily since the winter floor: 71 homes in December 2025, 77 in January, 91 in February, 98 in March, 103 in April, and now 128 in May 2026 — nearly doubling from the December low in five months. Despite that supply build, days on market have continued to compress, dropping from a January peak of 60 days to 43 in February, 28 in March, 20 in April, and 16 in May — meaning well-priced homes are still moving quickly even as the overall pool grows. The sale-to-list ratio eased slightly to 99.67% in May from April's near-perfect 99.93%, and 7 of the 30 May closings involved a price reduction before going under contract — the first month this figure is reliably tracked. The over-$700,000 segment showed particular strength, with 8 closings at a median of $816,900, compared to 7 closings at $714,000 in April, while the $400,000–$700,000 band saw 20 closings at a median of $527,450.
Mortgage context
The 30-year fixed rate in Syracuse now sits at 6.75%, up 0.25 percentage points from 6.5% thirty days ago, and well above the February monthly average of 6.19% — a 0.56-percentage-point climb that has meaningfully raised the cost of carrying a median-priced home. That rate trajectory, combined with a growing inventory pool, is giving some buyers pause: the added monthly cost compared to February's rate environment is real enough to push borderline buyers toward FHA (currently at 6.25%) or VA (also 6.25%) financing, particularly in the $400,000–$550,000 range where most closings are happening. Buyers who locked in during February's rate dip are sitting on a meaningful advantage over those entering the market today.
Payment math
On a median-priced home here — about $597,000 with 20% down — the monthly principal-and-interest payment lands at $3,098 at 6.75% — $79 more than 30 days ago at 6.5%, and $176 above the February low when rates averaged 6.19% and the payment would have been $2,922.
If you're buying
With 128 active listings and at-pace inventory building, buyers in Syracuse have real negotiating room on homes that have been sitting — particularly in the RC's Parkwest and Stillwater communities, where some listings are running past 30–80 days on market and the sale-to-list ratio on stale inventory tends to drift below the market average. Target homes past 45 days on market and lean on the 7 May closings that required a price cut as evidence that sellers in this market are adjusting — that's a conversation-starter for a below-ask offer. If you're financing with a conventional loan, also price out FHA at 6.25%, which could save you $150–$200 per month on a home in the $500,000–$550,000 range compared to the current 6.75% conventional rate.
If you're selling
Sellers in Syracuse need to price against what's actually closing in May 2026, not what similar homes listed for in early spring — the median sale price of $597,000 is solid, but 13 of 30 May closings went below list price, and 7 required a price cut before finding a buyer. In the Parkview at Shoreline and Village at the Bluff communities, where recent comparable sales are plentiful, pricing within 1–2% of those figures and presenting the home in move-in condition is the fastest path to a clean offer; homes that stretch above recent sales are sitting longer as buyers gain more alternatives. With 60 new listings entering the market in May alone, the window for premium pricing is narrowing — sellers who list in June with a sharp price will face less competition than those who wait until July when the summer inventory peak typically arrives.
Outlook
Over the next 60–90 days, Syracuse buyers should expect inventory to remain elevated or grow further as the summer listing season continues — the I-15 corridor communities in Davis County typically see their peak new-listing months in June and July, which will add more competition for sellers. Rates at 6.75% and trending upward are the primary headwind: if the 30-year holds above 6.75% through July, expect days on market to drift back toward the mid-20s and the sale-to-list ratio to ease further toward the 99%–99.5% range. Buyers priced out of Layton or Kaysville to the north may continue to look at Syracuse as a relative value, which should keep demand from falling off sharply even as supply grows.
Watch for
If the 30-year fixed rate crosses 7% before August, expect the months of supply in Syracuse to climb past 5 — at that point, sellers in the $500,000–$600,000 range will face meaningful pressure to cut prices to compete with the growing pool of active listings.
"More homes, higher rates, steadier prices — Syracuse buyers have options in May, but the math is getting harder."
Common questions about Syracuse this month
Is Syracuse a buyer's or seller's market in May 2026? ▾
It's moving toward a more balanced market. Active listings have climbed to 128 homes — up 56% from a year ago — and at May's pace of 30 closings it would take about 4.3 months to sell every home currently listed. That's above the 2–3 month range that defined the market through most of 2025, giving buyers more leverage than they had a year ago, though well-priced homes are still selling in under three weeks.
Are homes in Syracuse selling below asking price? ▾
Some are. In May 2026, 13 of 30 closings went below list price, and 7 required a price reduction before going under contract. The overall sale-to-list ratio was 99.67%, meaning the average home sold very close to its asking price — but that average masks a split between homes that sold quickly at or above list and homes that sat longer and needed a cut to close.
What's the typical price range for homes selling in Syracuse right now? ▾
The bulk of May 2026 closings — 20 of 30 — fell in the $400,000–$700,000 range, with a median sale price of $527,450 in that band. Eight homes closed above $700,000 at a median of $816,900, with Parkview at Shoreline leading that segment. Only 2 homes closed under $400,000, reflecting how little inventory remains at that price point.
How are rising mortgage rates affecting the Syracuse market? ▾
The 30-year fixed rate is at 6.75% as of early June, up 0.56 percentage points from February's average of 6.19%. On a median-priced $597,000 home with 20% down, that translates to a monthly principal-and-interest payment of $3,098 — $176 more per month than buyers would have paid in February. That added cost is one reason closings dipped to 30 in May from 36 in April, even as more homes came to market.
Which neighborhoods in Syracuse are seeing the most activity? ▾
RC's Parkwest led May closings with 3 sales at a median of $469,900, though those homes averaged 81 days on market — suggesting some price negotiation was involved. Parkview at Shoreline and Village at the Bluff each had 2 closings, with Parkview at a median of $714,900 and Village at the Bluff at $539,900. Stillwater and Sunset Park Villas also each recorded 2 closings, with Sunset Park Villas moving quickly at a median of just 2 days on market.
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 ÷ original list — buyer/seller leverage
Days on Market
Median days from listing to close
Price Volume
Total dollar volume — active · new · sold per month
May 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
31 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 16 · 25th percentile 6 · 75th percentile 39
Needed a price change
Sold listings that had a recorded price change before close
8 of 31 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. Rc's Parkwest 3 sold · $470K · 81d
- 2. Parkview At Shoreline 2 sold · $715K · 36d
- 3. Still Water 2 sold · $551K · 29d
- 4. Village At The Bluff 2 sold · $540K · 32d
- 5. Sunset Park Villas 2 sold · $493K · 2d
May 2026 by property type
How each housing type performed last month — 31 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 31 | 33 | -6.06% | 162 | 144 | +12.50% |
| Median Sale Price | $600,000 | $585,000 | +2.56% | $580,148 | $567,806 | +2.17% |
| Median DOM | 16 | 14 | +14.29% | 32 | 24 | +33.33% |
| Sale-to-List Ratio | 99.73% | 99.67% | +0.06% | 99.58% | 99.64% | -0.06% |
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.