The Utah real estate market continues to evolve, with new trends emerging in early 2025. Whether you’re buying, selling, or investing, understanding the latest data is key to making informed decisions. Let’s break down what’s happening in Utah’s housing market right now.
1. Home Listings & Sales Activity
- New Listings: 4,441 (+0.51% from last month, +3.23% from three months ago)
- Active Listings: 9,998 (+4.64% from last month, but -9.07% from a year ago)
- Homes Under Contract: 4,535 (+1.98% from last month, +3.78% from last year)
- Sold Homes: 2,544 (+1.61% from last month, but -8.55% from last year)
What this means: New listings are increasing slightly, but the number of homes selling remains lower than last year. This suggests that while inventory is growing, demand may not be keeping up at the same pace.
2. Home Prices & Market Trends
- Price Growth: The price per square foot continues to rise, nearing $300 per sq. ft on average.
- Price Range Distribution:
- 44% of homes sold fall in the $300K-$500K range
- 29% are in the $500K-$700K range
- Higher-priced homes ($1M+) make up a much smaller share of sales.
What this means: The market is still competitive, especially in the mid-price ranges. Buyers looking in the $300K-$700K bracket should expect strong competition, while luxury homes may take longer to sell.
3. Days on Market (DOM) Is Rising
- Average DOM: 73 days (+5.8% from last month, +19.67% from three months ago)
What this means: Homes are sitting on the market longer, giving buyers more room to negotiate. This shift suggests a slight cooling from the fast-paced seller’s market seen in previous years.
4. What Buyers & Sellers Should Do Next
For Buyers:
✅ More inventory means more options—take your time, but act fast on well-priced homes.
✅ Interest rates and competition still impact affordability, so get pre-approved early.
✅ Homes in the $300K-$700K range are in demand, so be prepared for multiple offers.
For Sellers:
✅ Pricing competitively is key—overpriced homes may sit on the market longer.
✅ With rising DOM, strong marketing and staging are essential.
✅ Be flexible with negotiations, as buyers have more leverage than before.
Final Thoughts
The Utah real estate market is shifting, with inventory growing and homes taking longer to sell. However, home prices remain strong, particularly in the $300K-$700K range. Whether you’re a buyer or seller, adapting to these trends will help you succeed in 2025’s market.