Market analytics · May 2026 archive
Nephi, Utah real estate market report.
Monthly sold prices, days on market, sale-to-list ratio, and absorption rate. Updated nightly from UtahRealEstate.com and the Washington County Board of Realtors.
Updated · Sources: UtahRealEstate.com & Washington County Board of Realtors
May 2026 · Market Analysis
Nephi's price bands split: under-$400K homes close in days while mid-range listings wait months.
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Median days on market in Nephi settled at 51 days in May 2026 — a meaningful shift from April's 65-day pace and a world away from February's 201-day stall, though still slower than a year ago when May 2025 closings moved in just 21 days. The speed story, however, masks a sharp split between price ranges: the 4 homes that closed under $400,000 found buyers in a median of 11 days, while the 9 homes in the $400,000–$700,000 band — neighborhoods like North Ridge Estates, Hunters Meadow, and Savage Bluffs — sat a median of 104 days before closing. Fourteen homes closed in May 2026, compared to 8 in May 2025, so volume is clearly up even as the pace of individual sales varies widely by what you're selling.
Market pulse
After the deep winter slowdown — just 3 closings each in January and February 2026, with median days on market of 105 and 201 days respectively — Nephi's spring rebound has been real and sustained. March brought 10 closings at a 34-day median, April added 12 closings at 65 days, and May reached 14 closings, the strongest monthly volume in the past year. Active inventory pulled back from April's peak of 44 homes to 39 in May, even as only 10 new listings came to market — the lightest new-listing month since September 2025 — suggesting the pool of available homes is tightening rather than building. The sale-to-list ratio eased to 98.18% in May from April's 100.66%, meaning sellers are no longer routinely getting full price, and 4 of 14 closings came in below list.
Mortgage context
The 30-year fixed rate has climbed to 6.75% as of mid-June, up 0.25 percentage points from 6.50% thirty days ago and 0.56 percentage points above February's monthly average of 6.19% — the low point of the past several months. After dipping through January and February, rates reversed sharply in March and have continued rising, which is compressing what buyers in Juab County can afford and pushing some shoppers toward FHA financing at 6.25% or VA loans at 6.25% if they qualify.
Payment math
On a median-priced home here — about $520,000 with 20% down — the monthly principal-and-interest payment lands at $2,696 at 6.75% — $69 more than 30 days ago at 6.50%, and $153 above the February low when rates averaged 6.19% and the payment would have been $2,543.
If you're buying
Target homes that have been sitting 90 days or more — subdivisions like Hunters Meadow and Nebo Heights have seen listings linger well past the 100-day mark, and those sellers are more likely to negotiate. The under-$400,000 segment in Nephi is moving in roughly 11 days, so if that's your price range, come pre-approved and ready to move; if you're shopping the $400,000–$700,000 band, the 98.18% sale-to-list ratio and 4 below-list closings in May signal there's room to offer 1–2% under asking on homes with significant time on market. Buyers priced out of Provo or Salem who are considering the I-15 corridor south should note that Nephi's mid-range inventory is more negotiable right now than it has been in over a year.
If you're selling
If your home is in the $400,000–$700,000 range — the segment covering most of North Ridge Estates, Red Cliff Estates, and Covington Ridge Estates — price at or just below recent comparable sales rather than last spring's list prices; the sale-to-list ratio has slipped from 100.66% in April to 98.18% in May, and homes that opened too high are sitting 100-plus days. Condition and presentation matter more now that buyers have 39 active listings to choose from; homes that are move-in ready and priced within 1% of what similar homes actually closed for are the ones moving in under 60 days.
Outlook
With only 10 new listings entering the market in May and 14 homes closing, Nephi's active inventory is likely to stay in the high-30s to low-40s range through June and July — tight enough that well-priced homes will continue to find buyers, but not so tight that sellers can push prices aggressively. Rising rates, now at 6.75% and trending upward, will keep pressure on the $400,000–$700,000 mid-range where monthly payments are most sensitive to rate moves; expect days on market in that band to stay elevated through summer unless rates pull back. The under-$400,000 segment, where shoulder-season snowmelt has historically brought out first-time buyers from Payson and Spanish Fork looking for affordable Juab County options, should remain the fastest-moving part of the market.
Watch for
If the 30-year fixed rate crosses 7.00%, expect the $400,000–$700,000 segment — already sitting a median of 104 days — to stretch past 130 days and push the sale-to-list ratio below 97% in Nephi.
"Nephi in May: faster closings overall, but the market is running two speeds depending on price."
Common questions about Nephi this month
Is Nephi a buyer's or seller's market in May 2026? ▾
It depends on the price range. Under $400,000, homes are moving in about 11 days and that segment still favors sellers. In the $400,000–$700,000 range — where most of the active inventory sits — buyers have more leverage: 4 of 14 May closings came in below list price, and the median days on market for that band was 104 days. At 39 active listings and a pace of roughly 14 closings per month, it would take about 2.8 months to sell every home currently listed, which is technically a seller's market overall, but the mid-range is behaving more like a balanced one.
Why are some Nephi homes sitting so long while others sell in under two weeks? ▾
Price is the primary driver. Homes under $400,000 — often smaller lots or older Nephi Townsite-area properties — are attracting buyers quickly because they're accessible at current rates. Homes in the $400,000–$700,000 range, including newer subdivisions like Hunters Meadow and Savage Bluffs, carry monthly payments above $2,500 with 20% down at today's 6.75% rate, which narrows the buyer pool. Listings that opened at last spring's prices without adjusting for the rate environment are the ones accumulating days on market.
How do May 2026 home prices in Nephi compare to a year ago? ▾
The median sale price in May 2026 was $519,500, compared to $397,700 in May 2025 — a significant jump. However, the mix of homes sold shifted: May 2025 had 4 closings under $400,000 and only 3 in the $400K–$700K band, while May 2026 had 9 closings in the mid-range and just 4 under $400,000. That mix shift accounts for much of the median increase, so the numbers don't mean every home in Nephi appreciated by that margin.
What's the impact of rising mortgage rates on buying a home in Nephi right now? ▾
At today's 30-year rate of 6.75%, a buyer putting 20% down on a median-priced $520,000 home pays $2,696 per month in principal and interest. That's $153 more per month than it would have been in February when rates averaged 6.19%, and $69 more than just 30 days ago. For buyers stretching to the top of the $400K–$700K range, that rate creep meaningfully affects what they can qualify for — and it's one reason that segment is taking longer to close.
Are there good deals to be found in Nephi's current market? ▾
Homes that have been listed for 90 days or more — and there are several in subdivisions like Hunters Meadow and Nebo Heights — are the most likely candidates for negotiation. In May, 4 of 14 closings came in below list price, and the overall sale-to-list ratio was 98.18%, meaning buyers on average paid about 1.8% under asking. Homes that have sat through the winter and into spring without a price adjustment are often the ones where sellers are most motivated, particularly in the $500,000–$600,000 range.
Number of Listings
Active inventory · new listings · sold per month
Listing Prices
Active median list · new median list · sold median sale
Absorption Rate
Months of supply — active inventory ÷ monthly sold rate
Sale-to-List Ratio
Close price ÷ original list — buyer/seller leverage
Days on Market
Median days from listing to close
Price Volume
Total dollar volume — active · new · sold per month
May 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
14 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 51 · 25th percentile 9 · 75th percentile 106
Needed a price change
Sold listings that had a recorded price change before close
2 of 14 sold homes had at least one price change while listed. Lower = sellers are pricing right the first time.
Sales by price band
Closed-price bucket → sold count and median days to contract
Top subdivisions this month
Ranked by closed count
- 1. Savage Bluffs Subdivision 1 sold · $550K · 105d
- 2. North Ridge Estates 1 sold · $545K · 56d
- 3. Red Cliff Estates Subdivision 1 sold · $545K · 46d
- 4. Hunters Meadow Subd 1 sold · $520K · 363d
- 5. Nebo Heights Subd 1 sold · $519K · 117d
May 2026 by property type
How each housing type performed last month — 14 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 14 | 8 | +75.00% | 42 | 27 | +55.56% |
| Median Sale Price | $519,500 | $397,700 | +30.63% | $477,824 | $440,948 | +8.36% |
| Median DOM | 51 | 21 | +142.86% | 66 | 53 | +24.53% |
| Sale-to-List Ratio | 98.18% | 97.39% | +0.81% | 99.29% | 96.63% | +2.75% |
Sources: UtahRealEstate.com and the Washington County Board of Realtors, aggregated by Best Utah Real Estate. Sale-to-list ratio compares closing price to the final list price (post-reduction). Absorption rate = active inventory ÷ monthly sold rate.