The following analysis of the Salt Lake County real estate market is provided by Windermere Real Estate Principal Economist Jeff Tucker. We hope that this information may assist you with making better-informed real estate decisions.
ECONOMIC OVERVIEW
Market conditions in Salt Lake County swung sharply in buyers’ favor early in 2025, as rapid inventory growth led to modest price declines. More recently, however, the market has begun to look more balanced rather than distinctly a buyer’s market.
All in all, Salt Lake County has shifted into a more balanced market, driven by modest price growth and a slowdown from the significant inventory buildup seen earlier in 2025.
Active Listings
Active listings at the end of December stood at 1,423 homes, up 12% from a year ago—a major slowdown from the 43% inventory growth seen in July of last year.
Median Sold Price
In December, the median sale price in Salt Lake County rose 5% year over year—from $594,000 to $625,000. That marked the fifth straight month of price gains, reversing a trend of modest price declines in mid-summer.
New Listings
Salt Lake County experienced strong year-over-year growth in new listings early in 2025, exceeding 20% in March and April, but slowing to just 7% growth in December. The waning seller enthusiasm is helping to rebalance the market.
Closed Sales
Closed home sales in December 2025 rose 2% compared to December 2024, capping a fourth quarter that roughly matched the strong sales seen in the same period the year before.
Days on Market
The average number of days it took to sell a home in Salt Lake County ended the year at 61 days, just slightly longer than the 60-day average at the end of 2024.
CONCLUSIONS
All of the markets covered in this report shifted in buyers’ favor in 2025, though some, like Salt Lake County, show that the pendulum can—and will—begin to swing back toward more balanced conditions.
Going forward, buyers should be aware that in most markets, there are more listings than in recent years, home prices have remained roughly flat for at least a year, and mortgage rates are near three-year lows. Together, these factors create a strong opportunity to buy. That said, buyers should also be mindful of the usual spring surge in competition, which will accelerate home sales and push prices higher, as it does every year. Savvy buyers can try to get ahead by shopping earlier, but they should also be prepared to write a competitive offer if their ideal home hits the market this spring.
For sellers, the peak selling season is fast approaching. But even in a more balanced market, homes do not sell themselves. The best outcomes still depend on presenting the home well, setting the right list price, and marketing effectively to the right buyers. With the right strategy, this spring presents a great opportunity to sell for the best possible price, especially as lower mortgage rates bring more buyers off the fence.
Sources: TrendGraphix analysis of NWMLS, RMLS, Spokane MLS, MetroList MLS, and Wasatch Front MLS data.
About Jeff Tucker
As Principal Economist for Windermere Real Estate, Jeff Tucker is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Jeff has over 10 years of experience as an economist at companies such as Zillow, Amazon, and AirDNA.
