Market analytics
Washington, 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
Rising rates and a buyer pause leave Washington with more homes and fewer closings in May.
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Closed sales in Washington dropped to 62 in May 2026 — less than half of April's 119 closings and well below the 127 recorded in May 2025, a 51% year-over-year decline that stands as the clearest signal of how much buyer momentum has cooled. To put the volume in context, the monthly average over the prior 12 months was 107 closings; May's 62 came in at roughly 58% of that pace, which means the numbers here reflect an unusually quiet month rather than a clean read on the whole market. Active inventory, meanwhile, reached 563 homes — up from 490 in April and 481 in March — so the gap between what's available and what's actually selling widened considerably.
Market pulse
Closed sales in Washington traced a sharp arc over the past six months: 121 in December, falling to 73 in January, recovering to 97 in February, then jumping to 143 in March before settling back to 119 in April and dropping to 62 in May. Days on market followed a similar pattern in reverse — the median fell to just 28 days in March as buyers moved quickly, then climbed to 32 in April and back to 47 in May, matching the slower pace seen in January and July 2025. The sale-to-list ratio slipped from April's 99.25% to 98.38% in May, and the count of homes that sold below list price (31) now outnumbers those that sold above (7) by more than four to one. Active inventory has grown steadily since December's 321 homes, reaching 393 in January, 483 in February, and now 563 in May — a consistent build that reflects new listings coming in faster than closings can absorb them.
Mortgage context
The 30-year fixed rate has climbed from a six-month low of 6.19% in February to 6.75% today — a move of 0.56 percentage points that has added meaningfully to monthly costs for Washington buyers. Over just the past 30 days, the rate rose 0.25 percentage points from 6.5%, and the May monthly average of 6.55% was the steepest since last November's 6.47%. For buyers considering FHA or VA financing, the 6.25% rate on those programs offers some relief, but jumbo borrowers — relevant for the Coral Canyon and Finley Farms price ranges — are looking at 7.25%, which is a real constraint on the over-$700K segment.
Payment math
On a median-priced home here — about $516,000 with 20% down — the monthly principal-and-interest payment lands at $2,677 at 6.75% — $68 more than 30 days ago at 6.5%, and $151 above the February low when rates averaged 6.19% and the payment would have been $2,526.
If you're buying
With 27 of May's 62 closings involving a seller who had already cut their price, and the sale-to-list ratio back at 98.38%, buyers have real room to negotiate — particularly on homes that have been sitting. Target listings past 45 days on market in Long Valley and Coral Canyon, where the median days on market for the $400K–$700K band reached 47 in May; sellers in that range are increasingly motivated. If you qualify for FHA or VA financing at 6.25%, you're working with a meaningful rate advantage over conventional borrowers — use that to your benefit when making offers on homes priced under $500K in communities like Iron Top at Long Valley or Red Trails Sunrise Valley.
If you're selling
With 563 active listings competing for just 62 buyers in May, pricing discipline matters more than it has at any point in the past year — homes priced to April's stronger sale-to-list environment are sitting. In Solis at Coral Canyon, the four homes that did close in May moved in a median of just 15 days, suggesting that well-positioned, correctly priced inventory still finds buyers quickly; the problem is overpricing relative to what recent comparable sales actually support. If your home is in the $400K–$700K range and hasn't gone under contract within 30 days, a price adjustment of 2–3% is likely more effective than waiting — the 27 price-cut closings in May show that sellers who adjusted did get to the closing table.
Outlook
Over the next 60–90 days, Washington buyers should expect inventory to remain elevated and negotiating conditions to stay favorable, particularly if the 30-year rate holds above 6.75% and continues to suppress demand from rate-sensitive buyers who might otherwise be shopping in the $450K–$600K range in communities like Standing Rock West at Long Valley or Lavender Canyon. Seasonally, summer in Washington's high-desert climate tends to slow foot traffic as temperatures climb, which could keep closings below the 100-per-month pace seen through most of 2025. If new listings continue arriving at roughly 155 per month while closings stay near May's pace, the supply-demand gap will widen further — giving buyers in St George's neighboring market of Washington more leverage heading into fall than they've had in over a year.
Watch for
If the 30-year fixed rate crosses 7% before August, expect monthly closings in Washington to remain below 80 and the median days on market to push past 55, as the $400K–$700K buyer pool — already the most rate-sensitive segment — pulls back further.
"Washington's May reality check: closings fell sharply while inventory kept climbing and rates hit a six-month high."
Common questions about Washington this month
Is Washington, Utah a buyer's or seller's market in May 2026? ▾
Conditions have shifted toward buyers. With 563 active listings and only 62 closings in May, there's roughly nine months of supply at the current sales pace — well above the four-to-five months that typically marks a balanced market. Buyers have more homes to choose from, more time to decide, and more room to negotiate than at any point in the past year.
Why did so few homes close in Washington in May 2026? ▾
May's 62 closings were unusually light — about 58% of the prior 12-month average of 107 per month. The most likely factors are rising mortgage rates (the 30-year climbed from 6.19% in February to 6.75% today) and a broader buyer hesitation that's been building since March's strong close. Some of May's would-be closings may also push into June as pending contracts work through the pipeline.
Are home prices dropping in Washington, Utah? ▾
The median sale price of homes that closed in May was $515,995, which is close to the range seen over the past several months ($494,990–$549,000). However, because May's closing volume was unusually low, the median is less reliable as a market-wide signal this month. What is clear is that 27 of 62 closings involved a seller who had already reduced their asking price, and the sale-to-list ratio slipped to 98.38% — meaning buyers are successfully negotiating modest discounts off list.
Which Washington neighborhoods are still moving quickly? ▾
Solis at Coral Canyon stood out in May, with four closings at a median of just 15 days on market and a median sale price of $551,944. Standing Rock West at Long Valley also moved quickly (median 9 days), though only two homes closed there. In contrast, Red Trails Sunrise Valley saw a median of 68 days on market for its two May closings, reflecting the slower pace in some outer communities.
How do Washington mortgage rates compare to the rest of Utah right now? ▾
Washington buyers are facing the same national rate environment as buyers in Salt Lake City, St George, or Lehi — the 30-year fixed is at 6.75% as of mid-June 2026, up 0.25 percentage points over the past 30 days. FHA and VA loans are available at 6.25%, which is a meaningful advantage for eligible buyers. Jumbo loans (generally for homes above roughly $766,550) are priced at 7.25%, which is a real headwind for Washington's luxury segment in communities like Finley Farms and Heights at Washington Bench.
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
June 2026 by property type
How each housing type performed last month — 62 closings total across subtypes.
Summary Statistics
| Metric | Jun-26 | Jun-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | — | 97 | — | 497 | 567 | -12.35% |
| Median Sale Price | — | $549,900 | — | $505,621 | $521,276 | -3.00% |
| Median DOM | — | 27 | — | 38 | 31 | +22.58% |
| Sale-to-List Ratio | — | 98.40% | — | 98.53% | 98.56% | -0.03% |
Past months
Browse historical Washington 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.