Real estate trends in Utah | Sellers | Buyers | Investors | The best and worst of Utah | Utah resources
Utah real estate trends (May 2022)
How is the real estate market in Utah? | |
|---|---|
🏠 Average home value: $506,072 | 📈 0.10% home value increase month over month |
💰 Median sale price: $561,600 | ⏳ 36 days on the market |
🔑 Homes on the market: 7,586 | 📆 1.6 months of housing inventory |
🏦 30-year mortgage rate: 5.59000% | 💵 Average income: #N/A |
State of the market: A+ | |
Utah’s real estate market remains hot. Home values and listing prices are on a steady incline, but properties continue to fly off of the market in less than a month. With the limited inventory keeping demand high, this trend may keep going for a while. | |
*Data last updated May 2022 | |
Utah is a state full of geological wonders, from its rugged peaks to its canyons and mesas. The state hosts an impressive 17 National Parks, ranging from Zion's sandstone bluffs to Hovenweep's six prehistoric villages.
While notable Utah cities include Salt Lake City, Provo, and Moab, smaller communities such as River Heights, Kaysville, and Providence have earned a reputation for being especially family-friendly.
Nicknamed the Beehive State for its Mormon roots, Utah still has the highest Mormon population today.
If you're thinking of buying or selling in Utah, these Utah housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3.5K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!
Selling a home in Utah
Utah real estate market forecast for sellers | |
|---|---|
⏰ Homes are selling 46 days slower than the annual average | 💰 Homes are selling for $10,754 less than the annual average |
💸 Average listing commission: 2.68% | 💸 Average buyer's commission: 2.68% |
How to sell a home in Utah
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Utah (June 2021 Rankings)
- 8 Steps to Selling a House in Utah
- How to Sell a House By Owner in Utah (2021 Update)
- 4 Best Utah Flat-Fee MLS Companies in 2021
- Top 5 We Buy Houses for Cash Companies in Utah (2021 Rankings)
Cost to sell a home in Utah
- What's The Average Utah Real Estate Commission In 2021?
- Utah Seller Closing Costs in 2021: How Much Will You Pay?
- The Ultimate Guide to Utah Real Estate Taxes
Buying a home in Utah
How much home you can buy with $300,000 in... | |
|---|---|
🏠 Salt Lake City: 1,250 sq ft | 🏡 Provo: 1,402 sq ft |
🏡 Ogden: 1,376 sq ft | 🏠 St. George: 1,010 sq ft |
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Utah
- The 5 Most Affordable Places to Live In Utah
- The Best Time to Buy a House in Utah
- Everything You Need to Know About Moving to Utah
Investing in Utah real estate
- Top 5 Best Real Estate Investment Markets in Utah
- The Ultimate Guide to Flipping Houses in Utah
- A Beginner's Guide to Buying an Apartment Building
Best of Utah
💡 Did you know…
According to the Clever Data Center, Salt Lake City was ranked number one for a variety of music genres in a Google Trends analysis. The city also has 50% more career musicians per capita compared to the average U.S. metro area.
» Taking notes? 🎵 Learn more about the rankings here: The Best Music Cities in the U.S.
Although it's a little difficult to find brunch cocktails in this city, there are plenty of charming cafes serving up all your favorite mid-morning classics. The average brunch in Salt Lake City only costs $13.30 (compared to the national average of $14.71), so you'll also get to keep more money in your pocket.
» Hungry for more info? 🍳 Read our full study here: The Best Brunch Cities in America
Each month, we compare locations in Utah based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.
Happiest Counties in Utah |
|---|
1. Daggett County |
2. Beaver County |
3. Utah County |
4. Wasatch County |
5. Davis County |
Ready to buy a home in Utah? Eligible buyers get cash back with Clever!
Worst of Utah
Each month, we compare locations in Utah based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.
Least Happy Counties in Utah |
|---|
1. San Juan County |
2. Duchesne County |
3. Carbon County |
4. Uintah County |
5. Piute County |
Utah resources
- Utah Department of Commerce - Division of Real Estate
- Utah's real estate license verification
- Utah's real estate agent code of conduct
- Utah's disclosure forms
- Transfer taxes in Utah
- Home buying assistance programs in Utah
Frequently asked questions about Utah real estate
Currently, it is a seller’s market in Utah. Demand for homes is very high, and inventory is limited — both of which are causing prices to increase. Although the market seems secure for now, each city and town is different, so it’s still best to consult with a local real estate agent to better understand your market.
Yes, Utah is a good state to invest in real estate, especially in a big city like Salt Lake City, where people are always looking for housing. Still, investing requires a lot of preparation, especially your long-term financial plan. Read our guide to investing in real estate to find out more.
It might not be a good time for most people to buy a house in Utah. Listing prices are higher than normal, and there aren’t a lot of properties to choose from. However, mortgage rates are very low right now, meaning that you can still save money over time with a locked-in low rate. For the best results, you’ll need to work with one of the top real estate agents in Utah to find a good deal.
Methodology
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.