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Market Report

Stay ahead of the market with real-time data, expert insights, and trends impacting buyers, sellers, and investors in Salt Lake County.

Salt Lake County Market Report - October 2025

The Utah real estate market is constantly evolving, and right now is no exception. Whether you’re buying, selling, or investing, understanding the latest trends gives you the upper hand. I track the numbers closely every month so you don’t have to...then break them down into what they actually mean for you.

Let’s dive into this month’s Salt Lake County market update and see where the opportunities are.

Data current through October 2025 — updated monthly with WFR-MLS data.

Quick Snapshot: Where the Market Stands

Single Family Homes

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Single Family Homes

Single-family homes continue to be the foundation of Salt Lake County’s housing market. Prices rose to $639,000, a clear sign that buyers still value space, privacy, and long-term investment potential even with interest rates higher than a few years ago.

Homes are now taking an average of 51 days to sell compared with 41 days last year. This does not mean the market is slowing down dramatically. Instead, it reflects a more balanced environment. Buyers can shop with less urgency, and sellers have to be more strategic, but transactions are still happening consistently.

Inventory rose to 3.1 months of supply, up from 2.4 last year. That increase is healthy. Buyers get more options, sellers face more competition, and the market as a whole feels more sustainable. Sellers who price and prepare their homes properly still see strong results.

New listings increased, which shows seller confidence. Closed sales dipped slightly, which is a natural result of higher borrowing costs. Even so, the single-family market remains steady. Buyers who are ready can finally shop without pressure, and sellers still hold plenty of power when they lean into the right pricing and marketing plan.

Condos & Townhomes

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Condos and Townhomes

Condos and townhomes are adjusting the fastest. The median price slipped slightly to $419,000, which creates a real opening for buyers who want to break into the market at a more affordable level.

Marketing times stretched to 71 days compared with 51 a year ago. This shows buyers are being selective and willing to negotiate, while sellers must be patient. With 4.0 months of supply compared with 3.0 last year, buyers clearly have more leverage in this segment.

New listings were essentially flat, while closed sales dropped almost 10 percent. That slowdown signals a cooling pace, but it also creates opportunity. Buyers who act now can take advantage of the softer conditions. Sellers who adapt with smart pricing and attractive concessions can still get deals done. Investors, in particular, should pay attention here. Rental demand across Salt Lake County remains strong, and attached housing often delivers better entry points with solid cash flow potential.

Interest Rates

Interest Rates & Market Impact

Interest rates are still the biggest factor shaping today’s housing market. The good news is that rates have come down from their January peak. At 6.30 percent for a 30-year loan and 5.49 percent for a 15-year loan, we are back to the same levels we saw last fall. That stability has given buyers more confidence to step back in.

For buyers, the takeaway is this: do not wait on the sidelines hoping for a perfect moment. Even with rates where they are, homes are holding value. If you buy now, you can build equity while the market stays strong, then refinance when rates eventually drop further.

Sellers should know that these rate levels keep demand steady. The frenzy of ultra-low rates is gone, but so are the overwhelming bidding wars. Today’s buyers are serious, prepared, and ready to act on the right property.

Investors need to think carefully about financing costs, but with rental demand so strong in Salt Lake County, opportunities remain. The Fed’s recent rate cut is a sign that monetary policy is easing, and if that trend continues, financing will become even more favorable heading into 2026.

What This Means for You

For Buyers
This is your chance to breathe. You finally have options, time to negotiate, and the ability to make confident choices. Rates are not as low as in the past, but prices are steady, and competition is calmer. The right home, the right neighborhood, the right deal...it is all possible now.

For Sellers
You are still in a strong position. Prices are stable, demand is alive, and well-prepared homes are moving. Success today comes from smart pricing, strong presentation, and targeted marketing. Those who get it right are still seeing fantastic results.

For Investors
Condos and townhomes present some of the best opportunities we have seen in years. With slightly lower prices and more time on the market, you can identify solid investments that deliver long-term value. Paired with steady rental demand, this is a window worth watching.

Compare Home Prices in Nearby Counties

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Let’s Talk Strategy

Markets like this create both challenges and opportunities—and the right move depends entirely on your goals. I’m here to help you navigate the numbers, the timing, and the negotiations to make sure you win in this market. 

 

Contact me today for a custom neighborhood report or a one-on-one strategy session.

Thank You!

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Contact Details

Nick Booth Real Estate

Phone

(801) 980-2058

Email

[email protected]

Address

400 East 5900 South Salt Lake City, UT 84107

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