Market analytics · August 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
August 2026 · Market Analysis
Syracuse sellers wait nearly three months as summer closings thin to a trickle
Get this report emailed every month
✓ You're in — see you next month.
The defining number in Syracuse this August is 84 — the median days on market, up from 35 in July and the slowest closing pace since January's 60-day reading. Only 19 homes closed, well below the prior 12-month average of 32, so the figures this month reflect a thin slice of transactions rather than the full market. What those 19 closings do tell us: the homes that did sell sat for a long time first, with a quarter of closings taking more than 113 days to find a buyer.
Market pulse
Active listings reached 135 in August, up from 111 in July and 97 in both May and June — inventory has climbed every month since March's 87. New listings held steady at 52, nearly matching July's 53, so the growing shelf is driven less by fresh supply and more by homes accumulating as they wait for buyers. The sale-to-list ratio stayed firm at 99.44%, which sounds healthy until you notice that only 19 homes actually closed — the ratio reflects what sellers accepted, not how many found takers. Homes priced above $700,000 sat a median 177 days before closing in August, compared to 75 days for the $400,000–$700,000 range, a split that tells you exactly where buyer resistance is concentrated.
Mortgage context
The 30-year fixed rate has climbed steadily since February's 6.14% average, reaching 6.77% in August and ticking up another notch to 6.875% today — a 0.74-percentage-point climb over seven months that adds real weight to monthly budgets. That trajectory has been slow but relentless: 6.48% in March, 6.55% in May, 6.66% in June, 6.79% in July, and now sitting just below 7%. Buyers financing along the I-15 corridor into Hill AFB or Salt Lake City are feeling the cumulative effect more than any single month's move.
Payment math
A $640,000 median-priced home in Syracuse with 20% down carries a monthly principal-and-interest payment of $3,363 at today's 6.875% rate — $43 more than 30 days ago when the rate was 6.75%, and $247 above the February low when rates averaged 6.14% and that same loan would have run $3,116 a month.
If you're buying
With 135 active listings and only 19 closings last month, buyers have real negotiating room — especially on anything that's been sitting past 90 days, which describes a quarter of August's closings before they finally sold. Target homes in the Stillwater and Shoreline corridor neighborhoods that have been listed since June or earlier; sellers there have already watched two months of summer pass without an offer. The $400,000–$700,000 band is where most activity is happening (12 of 19 August closings), and homes in that range are still moving at a median 75 days — patient but not desperate, which means a well-structured offer near list price still works.
If you're selling
Price to where homes are actually closing, not where they're being listed — the median list price in August was $599,900 while the median sale price was $640,000, but that gap is driven by a handful of high-end closings skewing the sold figure upward; the $400,000–$700,000 segment closed at a median $516,250. If your home is above $700,000, the data is blunt: that segment sat a median 177 days before closing in August, and only 6 homes in that range sold all month. Condition and pricing precision matter more right now than timing — homes like Village Cottages that lingered 177 days before closing at $705,000 are a cautionary example of what happens when a property sits through the summer without a price adjustment.
Outlook
With 135 active listings and closings running well below the seasonal norm, the fall market will likely stay buyer-friendly — inventory rarely clears quickly once summer momentum fades, and the Davis County market historically sees fewer new listings from September onward. If rates hold near 6.875% or drift higher toward 7%, the pool of qualified buyers for homes above $700,000 will stay thin, and days on market in that segment could extend further. Buyers who've been watching from the sidelines have more leverage now than at any point this year; sellers who need to move before the holidays should price ahead of the market, not behind it.
Watch for
At the current pace of new listings running around 52 per month against only 19 closings, active inventory could reach 160–170 homes by October — and if that happens, sale-to-list ratios in the $400,000–$700,000 band will likely drift below 98% as sellers compete for a shrinking pool of fall buyers.
"Eighty-four days on market, 19 closings, 135 listings — Syracuse buyers hold the cards heading into fall."
Common questions about Syracuse this month
Is Syracuse a buyer's or seller's market in August 2026? ▾
It's a buyer's market right now. With 135 active listings and only 19 closings in August, there's far more supply than demand. Homes sat a median 84 days before selling, and nearly half of closings went below list price — both signs that buyers have real negotiating leverage.
Why did so few homes close in Syracuse in August 2026? ▾
Closings dropped to 19 in August, compared to 42 in August 2025 and a 12-month average of 32. The combination of rates near 6.875%, a growing inventory shelf, and homes taking longer to sell has slowed the pace significantly. This is a thin sample, so individual high-end sales can move the median around — treat the price figures with some caution.
How long does it take to sell a home in Syracuse right now? ▾
The median was 84 days in August, but the range is wide. A quarter of homes that closed took more than 113 days. Homes in the $400,000–$700,000 range moved faster at a median 75 days, while homes above $700,000 sat a median 177 days before finding a buyer.
Are home prices dropping in Syracuse? ▾
The August median sale price was $640,000 among the 19 homes that closed, up from $597,500 in July — but with only 19 closings, a few high-end sales like the Legacy Park Estates 108 home at $1,025,000 can pull that figure around. The $400,000–$700,000 segment, where most buyers are active, closed at a median $516,250, which is more representative of where the bulk of the market is transacting.
Should I buy now or wait for rates to drop in Syracuse? ▾
Rates have climbed from 6.14% in February to 6.875% today, adding $247 to the monthly principal-and-interest payment on a median-priced home compared to February's low. Whether rates fall from here is uncertain, but what is clear is that inventory is high and sellers are negotiating — buyers who wait for a rate drop may find themselves competing with more buyers if rates do ease. The leverage is on the buyer's side today in a way it hasn't been all year.
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
20 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 75 · 25th percentile 17 · 75th percentile 92
Needed a price change
Sold listings that had a recorded price change before close
4 of 20 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. Legacy Park Estates 108 1 sold · $1,025K
- 2. Cooks Country Cove 1 sold · $892K
- 3. Jones 1 sold · $840K
- 4. Village Cottages 1 sold · $705K · 177d
- 5. Tivoli Gardens 1 sold · $680K · 17d
August 2026 by property type
How each housing type performed last month — 18 closings total across subtypes.
Summary Statistics
| Metric | Aug-26 | Aug-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 20 | 42 | -52.38% | 242 | 261 | -7.28% |
| Median Sale Price | $620,300 | $586,000 | +5.85% | $571,260 | $572,327 | -0.19% |
| Median DOM | 75 | 32 | +134.38% | 35 | 24 | +45.83% |
| Sale-to-List Ratio | 99.47% | 99.06% | +0.41% | 99.43% | 99.52% | -0.09% |
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.