MARKET STATISTICS

Looking Forward and Looking Back

2025 Annual Review and 2026 Predictions

Here's what happened in 2025

"Running in place." According to the Salt Lake Board of Realtors 2026 Housing Forecast Report, there has been little change in real estate indicators between 2024 and 2025. In Salt Lake County about 300 fewer homes were sold in 2025 versus 2024, while the median sales price rose up just 1.9%. Median days on the market increased from 29 to 36 days in 2025, a small change.

"Over the past three years, housing prices have flatlined in Salt Lake County. From 2022 to 2025, the median price increased by just 3.8%, from $530,000 to $550,000."

Summary of 2025 Salt Lake County Real Estate Indicators

Category	2024	2025	% Change
Residential Sales	12,090	11,797	-2.4%
Median Sales Price	$539,900	$550,000	1.9%
Median Days on Market	29	36	24.1%

Source: UtahRealEstate.com

Historically, home sales are weak.

When adjusting for population growth, real estate sales per 1,000 population are running at the lowest level in the past 25 years. In the past three years sales were all under 10 sales per 1,000 people (9.4, 9.9 and 9.5). The 25 year average is 44% higher, at 13.7 sales.

Home Prices are Sticky, and likely Stable for Two More Years

The median sales price of a home in Salt Lake County increased 40% from 2020 to 2022. The idea that prices were in for a serious drop in 2023 did not happen (only a 2.8% drop). From 2022 to 2025, prices have stabilized with small increases and a total increase of 3.8%, from $530,000 to $550,000.

If the actual increase continues at the recent pace of around 2% annually, the median sales price of a home in Salt Lake County would be $572,200 in 2027.

In other words, by 2027, time will offset the COVID-19 price surge, and the local market will return to near normal levels of price change, which historically are an annual growth rate of 5.7% (25 year annual average)

So, that's what happened in 2025. What can we expect in 2026? It looks like not everything is going to be perfect, but things are looking favorable for moderate, more balanced growth in the housing market.

2025-2026 Salt Lake County Housing Forecast Review and Summary

What is the forecast for 2026?

MARKET NEGATIVES
-Economic uncertainty and slowing Utah economy
-Slowing net migration rate (people moving in versus out of Utah)
-Interest rate lock: over 61% of mortgage holders have interest rates below 4%

MARKET POSITIVES
-Lowering mortgage interest rates, low 6% range
-4th year of pandemic recovery
-Favorable population age, relatively high share of young households

RESIDENTIAL SALES PREDICTIONS
-Total Residential Sales - 12,100 units, up 2.5%
-Median Sales Price - Nearly unchanged, slight improvement of 2%

So, moderate improvement is in the forecast. We see more inventory coming, prices will slowly increase, and rates will be stable or lowering. Ready to move? It is a good time for a change!