Market analytics
Provo, 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
June 2026 · Market Analysis
Provo homes are closing in days, not weeks — but inventory keeps building
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The defining number in Provo's June 2026 report isn't the price — it's the speed. The median home that closed this month spent just 4 days on market, down from 20 days in May and 19 days in April, a compression that signals genuine urgency among buyers who do pull the trigger. Yet that urgency is happening against a backdrop of growing supply: active listings reached 304 in June, up from 237 in May and 75% above the 174 active homes Provo carried in June 2025. Closings came in at 58, well below last June's 88, which means more homes are sitting available even as the ones that sell are moving almost instantly.
Market pulse
The speed story in June is real, but it needs context. Median days on market fell from 85 in January to 48 in February, then compressed further to 32 in March, 19 in April, and 20 in May before dropping to just 4 in June — a trajectory that reflects both the warm-weather selling season and a buyer pool that has grown more selective, moving fast on the right home and passing on everything else. The sale-to-list ratio held steady at 98.74%, essentially flat with April's 98.65% and May's 98.55%, which tells you sellers aren't giving much away on price even as inventory builds. Active listings have climbed every month since January's 153, reaching 189 in March, 207 in April, 237 in May, and now 304 in June — a near-doubling in five months. New listings also hit a spring peak of 127 in June, up from 116 in May and 106 in April, so the supply pipeline shows no sign of slowing.
Mortgage context
The 30-year fixed rate in Provo's market sits at 6.75% as of early July, up 0.125 percentage points over the past 30 days from 6.625%. That's part of a longer climb: rates averaged 6.19% in February, drifted to 6.42% in April, and have continued rising through June's 6.66% monthly average to today's 6.75% spot rate — a 0.56 percentage point increase since February's low. For buyers financing near the median price, that multi-month move translates to a meaningfully higher monthly commitment than what was available earlier this year.
Payment math
At $478,000 — close to Provo's June median — a buyer putting 20% down finances $382,400, and at today's 6.75% rate the monthly principal-and-interest payment works out to $2,478; that's $32 more than 30 days ago when the rate stood at 6.625%, and $141 above the February low when rates averaged 6.19% and that same loan would have carried a $2,337 payment.
If you're buying
With 304 active listings and a median days-on-market of just 4, the market is split: well-priced homes in neighborhoods like Indian Hills and Sherwood Hills are moving in days, while the 30 homes that closed below list price in June suggest meaningful negotiating room exists on listings that have been sitting. Target anything past 30 days on market — those sellers are increasingly open to concessions, and with 14 of June's 58 closings involving a prior price reduction, the pool of motivated sellers is real. FHA buyers should also note the 6.25% FHA rate, which runs half a point below the conventional 30-year and can meaningfully change the monthly math on homes priced under $400,000 in areas like Lakewood and the Mountain View corridor.
If you're selling
The 4-day median close time is encouraging, but it belongs to a subset of listings — the 30 homes that sold below list price in June are a reminder that overpricing relative to what similar homes have recently sold for will cost you time and leverage. With 304 competing listings on the market and buyers who have real alternatives, pricing at or just under recent comparable sales in your neighborhood gives you the best shot at landing in that fast-moving group rather than the stale one. Homes in the $400,000–$700,000 band are the most active segment (34 of 58 June closings), so sellers in that range have the deepest buyer pool — but also the most competition from new listings coming in at 127 per month.
Outlook
Provo heads into July and August with the most active inventory in over a year and rates that have moved up 0.56 percentage points since February's low — a combination that will likely keep closing volume below last summer's pace even as the BYU fall semester move-in cycle begins to generate some demand in August. The 4-day median close time suggests motivated buyers are still out there, but with 304 homes to choose from, they have the luxury of being selective, and sellers who price to last spring's conditions will find that patience is expensive. Expect days on market to tick back up modestly as the summer progresses and the initial wave of spring listings ages on the market.
Watch for
At the current pace of new listings running above 120 per month, active inventory likely crosses 350 homes by late August — and if that happens, the sale-to-list ratio probably drifts toward the mid-97% range as sellers begin competing more directly for a buyer pool constrained by 6.75%-plus rates.
"Four-day median close time, 304 active listings, and rates at 6.75% — Provo's June 2026 is a market of contradictions."
Common questions about Provo this month
Is Provo a buyer's or seller's market in June 2026? ▾
It's genuinely mixed. The 4-day median close time and 98.74% sale-to-list ratio look like a seller's market on the surface, but 304 active listings — up from 174 a year ago — and only 58 closings give buyers real options and negotiating room on anything that's been sitting. Homes priced right in desirable areas like Indian Hills and Sherwood Hills are moving fast; everything else is not.
Why are homes selling so fast in Provo if there's more inventory? ▾
The 4-day median masks a split market. The homes that sell are selling almost immediately — likely well-priced, well-conditioned properties that buyers have been watching. The 30 homes that closed below list price in June, and the growing count of listings sitting past 30 days, represent the other side of that story. Speed at the median doesn't mean every home moves fast.
How much does the current mortgage rate affect my monthly payment on a Provo home? ▾
At today's 6.75% rate, a buyer purchasing at Provo's June median of $477,500 with 20% down would pay approximately $2,478 per month in principal and interest. That's $141 more per month than the same purchase would have cost in February when rates averaged 6.19% — a difference that adds up to nearly $1,700 over a year.
Are there price reductions happening in Provo right now? ▾
Yes — 14 of the 58 homes that closed in June had taken a price cut before going under contract. That's a meaningful share (about 24% of closings), and it's a reliable indicator that sellers who started too high are adjusting. Buyers targeting listings with a prior price reduction often find more negotiating flexibility than on freshly listed homes.
What's happening with Provo's condo and lower-priced market? ▾
The under-$400,000 segment closed 16 homes in June at a median of $305,000, with a median of just 2 days on market — the fastest-moving price band. Bavarian Condos near BYU was the most active subdivision with 4 closings at a $305,000 median, reflecting steady demand from students, young professionals, and buyers priced out of the $400K-plus range. With BYU's fall semester approaching, this segment tends to see a secondary demand wave in August.
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
June 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
63 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 1 · 25th percentile 0 · 75th percentile 18
Needed a price change
Sold listings that had a recorded price change before close
15 of 63 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. Bavarian Condos 5 sold · $305K · 0d
- 2. Sherwood Hills 2 sold · $1,001K · 3d
- 3. Indian Hills 2 sold · $739K · 30d
- 4. Lakewood 2 sold · $400K · 16d
- 5. Mountain View 2 sold · $367K · 16d
June 2026 by property type
How each housing type performed last month — 61 closings total across subtypes.
Summary Statistics
| Metric | Jun-26 | Jun-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 63 | 88 | -28.41% | 329 | 382 | -13.87% |
| Median Sale Price | $475,000 | $497,750 | -4.57% | $466,428 | $478,162 | -2.45% |
| Median DOM | 1 | 13 | -92.31% | 30 | 18 | +66.67% |
| Sale-to-List Ratio | 98.95% | 98.53% | +0.43% | 98.54% | 98.95% | -0.41% |
Past months
Browse historical Provo reports — each month's snapshot stays at its own permanent URL.
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.