Holladay’s market is entering August with some interesting shifts. Prices are moving higher, but homes are also sitting longer, signaling a more patient buying environment. With inventory slightly down and sales dipping, this east-bench city is showing signs of a market adjusting toward balance.
Prices: On the Rise
In July, the median sales price in Holladay reached $834,500, up 11.3 percent from the same time last year. That’s a notable gain, especially for an already higher-priced market. Sellers are still benefiting from strong values, but affordability remains a challenge for buyers.
Inventory: Fewer Homes Available
Holladay ended July with 88 homes on the market, down 4.4 percent compared to last year. While many other Salt Lake Valley cities are seeing inventory rise, Holladay’s slight dip makes it stand out. Buyers have fewer options here, which keeps competition alive, particularly for well-located or updated homes.
Days on Market: Slowing Down
The average days on market climbed to 61 in July, nearly double the 32 days we saw last year. That 90.6 percent increase is a clear signal that buyers are being more selective and moving at a slower pace. Sellers should plan for longer timelines and price strategically to stay competitive.
Buyer’s or Seller’s Market?
With 2.3 months of supply, Holladay is still leaning toward a seller’s market, but it’s inching closer to balance. Homes are taking longer to sell, and buyers are negotiating more. The result is a market where well-presented homes stand out, while overpriced listings risk sitting.
Interest Rates: The Balancing Force
Mortgage rates in the mid-6 percent range continue to influence buyer behavior. While they put pressure on affordability, Holladay’s desirability keeps demand steady. For buyers ready to commit, slower sales and slightly lower inventory create opportunities.
Neighborhood Spotlight
Holladay’s charm lies in its variety. Walker Lane continues to draw luxury buyers with sprawling estates. Cottonwood Club neighborhoods remain popular with families seeking community amenities. Meanwhile, Old Holladay offers character homes in walkable areas close to shops and dining. Each pocket contributes to Holladay’s lasting appeal.
The Bottom Line
Holladay is showing a market in transition. Prices are up, inventory is slightly tighter, and homes are taking longer to sell. Buyers have more leverage than last year, while sellers still benefit from strong property values. Success in today’s Holladay market comes down to strategy, patience, and preparation.
