Salt Lake City, UT Housing Market Report

The Salt Lake City housing market as of December 2025 is characterized by a steady transition toward a more balanced environment, though it remains slightly tilted in favor of sellers due to consistent price appreciation. With a median home value of $559,279, the market has seen a modest year-over-year increase of 2.04%. However, the most significant shift is found in the inventory levels, which have surged by nearly 20% compared to last year. This influx of active listings, totaling 3,352 units, provides prospective buyers with significantly more options than they had during the supply-constrained periods of previous years.

Price trends over the last six months indicate a resilient upward trajectory, with values climbing steadily from $547,299 in July to the current December peak. This consistent monthly growth suggests that demand remains robust despite broader economic headwinds. The sale-to-list ratio stands at 0.99, signaling that homes are selling very close to their asking prices, though the increase in days on market to 69 days—up 15 days from a year ago—indicates that buyers are becoming more selective and taking more time to conduct due diligence before committing to a purchase.

Looking ahead, the Salt Lake City metro area appears to be entering a phase of sustainable growth rather than rapid volatility. For sellers, the key to success in 2026 will be realistic pricing and property presentation, as the increase in inventory means more competition for buyer attention. For buyers, the current climate offers a rare window of opportunity where they can benefit from rising equity while enjoying more leverage in negotiations than in years past. The rental market is also showing stability, with a 2.16% year-over-year increase bringing median rents to $1,552, reflecting the continued desirability of the region for those not yet ready to transition into homeownership.