Is the Market Heating Up Again? Here’s What You Need to Know.
As we move into the heart of 2025, it’s clear — the Utah housing market is showing strong signs of momentum. Whether you’re a buyer, seller, or investor, this month’s data provides valuable insights to help you make smart, timely decisions.
So, are we warming up? Yes — and here’s the proof.
📈 Under Contract Listings Are Rising
May 2025 recorded just under 5,500 under contract listings, nearly matching the peak levels we saw back in 2023. This resurgence in buyer activity signals renewed confidence and motivation in the market.
While there’s been concern about inflation and interest rates, one thing remains solid: price stability. The average price per square foot sits at $335, and the median price remains around $250, showing that values are steady — especially in the more affordable ranges.
🏡 Homes Are Selling — and Quickly
About 3,500 homes were sold in May 2025. The sold price per square foot averages at $265, with a median of $235. This tells us that the market is moving, and many homes are selling in just weeks — especially if they’re well-priced and well-presented.
💸 Months of Supply: Tight Inventory in Key Ranges
Let’s talk inventory. The “Months of Supply” metric (MOS) tells us how long it would take to sell all active listings at the current sales pace. Here’s a breakdown:
| Price Range | MOS (May 2025) | Sold-to-List Ratio |
|---|---|---|
| $200K–$300K | 3.22 | 97.1% |
| $300K–$500K | 2.69 | 99.3% |
| $500K–$700K | 3.28 | 99.4% |
| $700K–$1M | 4.48 | 99.0% |
| $1M–$3M | 6.27 | 97.7% |
| $3M+ | 12.66 | 96.9% |
🔹 What does this mean?
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Homes under $700K are selling fast and close to asking price — especially in the $300K–$500K range.
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Even the luxury market ($1M+) is holding strong, with homes getting nearly 97%–99% of their asking price.
💬 Advice for Sellers
If you’re thinking about listing your home, don’t wait. Here’s why:
✅ Homes are moving quickly, especially under $700K
✅ You’re likely to receive close to — or above — asking price
✅ Buyer demand is returning with strength
👉 My Tip: Stage your home, price it right, and list while competition is still moderate. If your home is move-in ready, it could be one of the next “under contract” listings by next month.
💬 Advice for Buyers
Yes, interest rates are still a factor — but waiting could cost you more if prices continue to climb. Here’s what buyers should keep in mind:
✅ Inventory is limited in popular price ranges — act fast
✅ Homes in good condition go under contract quickly
✅ You need to be prepared (and pre-approved!) to compete
👉 My Tip: Partner with a knowledgeable local agent, get your financing ready, and be ready to make strong offers. We’re still far from a buyer’s market — but savvy buyers can win by acting fast and strategically.
📍 Final Thoughts
The Utah real estate market in May 2025 is active, balanced, and full of opportunity. Whether you’re buying your first home, upgrading, downsizing, or investing — the market is giving you a window of time to move with confidence.
💼 Need Guidance? Let’s Chat.
The right advice makes all the difference in this market. Whether you’re buying, selling, or just exploring your options, I’m here to help you make the most of your real estate journey.
📩 Contact me today to schedule your free consultation.
📞 Let’s put a strategy in place that works for you.