Salt Lake City Real Estate Market Report
This market report includes up-to-date information on the Salt Lake City Metro Area courtesy of the WFR-MLS as provided by Joel Carson, Salt Lake City's #1 real estate agent.
Last Updated: July 8, 2025
Is Salt Lake City a Buyer's or Seller's Market?
In June 2025, 402 single-family home listings were in inventory, while 169 sold. Salt Lake City has 2.4 months of inventory available (under 5 months available inventory is considered a seller's market). Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Single Family Homes
Months of Inventory
2.4
49.4% Increase
June 2024 vs June 2025
Median Sales Price
$635,000
8% Decrease
June 2024 vs June 2025
Days on Market
26
16.1% Decrease
June 2024 vs June 2025
Are Salt Lake City Home Prices Dropping?
Prices Drop Slightly Compared to 2024
The median sales price of single-family homes in June 2025 was $635,500, reflecting a 8% decrease compared to June 2024. While prices have dipped, the market remains active with steady buyer interest and healthy inventory levels.
Salt Lake City Median Sales Price Past 5 Years
How Much Does a House Cost in Salt Lake City?
Depending on the size and type of home you choose, you can multiply the estimated square footage by avg. price per square foot to get an idea of how much a house might cost in Salt Lake City. The average square footage of a single-family home in Salt Lake City is approx. 2,000 Sq. Ft. while the average for condos & townhomes is approx. 1,200 Sq. Ft.
Single Family Homes
Price Per Sq. Ft
$356
7.4% Increase
June 2024 vs June 2025
Condos & Townhomes
Price Per Sq. Ft.
$356
3.2% Increase
June 2024 vs June 2025
Is Now a Good Time to Buy a Home in SLC?
Although we are technically in a seller's market, it may still be a good time to buy. Many people are sitting on the sidelines hoping for mortgage interest rates to fall. If rates dip steeply, you will see more buyers enter the market, driving up home prices further. Buying today and refinancing at a lower interest rate when rates drop, can be a wise strategy.
Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States
11/1/1971-06/1/2025
Is Now a Good Time to Sell a Home in SLC?
This is a great time to sell a home. There is still a high demand for housing and many buyers are looking to purchase immediately. Homes are selling at historically high prices.
Salt Lake County Real Estate Market
In June 2025, 1,580 new listings were added to the MLS, and 1,070 homes were sold, which means Salt Lake County currently has 2.9 months of single family, condo, and townhome inventory available. Salt Lake County is seller's market.
Months of Inventory
2.9
40.3% Increase
June 2024 vs June 2025
Median Sales Price
$550,000
1.3% Decrease
June 2024 vs June 2025
Days on Market
43
16.2% Increase
June 2024 vs June 2025
Compare Home Prices in Popular Salt Lake County Cities
A year-over-year comparison of all dwelling types: Single family homes, condos, and townhomes show that the most populated cities in Salt Lake County are starting to see a cooling trend, with prices decreasing or only slightly up year-over-year.
Median Sales Price
SFHs, Condos, & Townhomes
Salt Lake City
prices decreased by
10.9%
June 2025 $543,500 | 230 homes sold
vs.
June 2024 $610,000 | 269 homes sold
Median Sales Price
SFHs, Condos, & Townhomes
West Valley City
prices decreased by
2.2%
June 2025 $465,000 | 87 homes sold
vs.
June 2024 $475,450 | 76 homes sold
Median Sales Price
SFHs, Condos, & Townhomes
Sandy
prices increased by
0.8%
June 2025 $655,000 | 85 homes sold
vs.
June 2024 $650,000 | 79 homes sold
Median Sales Price
SFHs, Condos, & Townhomes
West Jordan
prices increased by
4%
June 2025 $540,000 | 100 homes sold
vs.
June 2024 $519,500 | 95 homes sold
Home Sales Dip, Prices Follow in Most Salt Lake County Cities
Home prices have decreased in Salt Lake City and West Valley City, while Sandy and West Jordan has seen a slight uptick. Countywide, the number of homes sold is higher than this time last year. Interest rates are coming down off the highs we saw a few months ago, but not enough to fuel a buying frenzy. Larger cities, such as Salt Lake are seeing the largest decrease in prices that we've seen in some time.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy.