Salt Lake County Home Prices Hit Record $645,000 in Q2 as Sales Rise 4.62%

1 articles · Updated · Deseret News · Jul 28

$645,000 was the median price for a Salt Lake County single-family home in the second quarter, up 4.88% from a year earlier and the highest quarterly level on record.
2,334 single-family homes sold in April through June, a 4.62% increase from Q2 2025, suggesting demand held up even with 30-year mortgage rates back at 6.58%.
Salt Lake Board of Realtors President Scott Colemere said the market has moved toward balance, with homes typically selling 2% to 3% below list price as sellers and buyers adjust to post-pandemic conditions.
Affordability remains the main risk: gas prices above $4 a gallon and broader inflation tied to the U.S.-Israel war against Iran could weaken consumer confidence and slow home-price growth to 1% or 2%.
Across the broader regional data, condo sales rose while condo prices fell in Salt Lake and Weber counties, underscoring a market that is still active but uneven by property type and location.