Market analytics · April 2026 archive
South Salt Lake, 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
April 2026 · Market Analysis
South Salt Lake closings more than doubled in April as spring demand returned to the Millcreek corridor.
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South Salt Lake closed 14 homes in April 2026, up from just 6 in March and more than the 10 recorded in April 2025 — a clear sign that spring demand arrived with force after a slow winter. The sale-to-list ratio climbed to 100.45%, the first time it crossed 100% since January, meaning buyers are once again paying at or above asking price on balance. Active inventory reached 46 homes, up from 39 in March, while 22 new listings entered the market — nearly matching March's new-listing count and keeping supply from tightening further.
Market pulse
Closed sales in South Salt Lake bottomed at 5 in both January and February 2026, then edged to 6 in March before jumping to 14 in April — a pattern consistent with a market that was waiting for spring rather than structurally stalled. Median days on market held relatively steady: 103 days in January, 5 in February (a small-sample artifact of that month's mix), 22 in March, and 24 in April, suggesting homes that are priced correctly are moving in roughly three weeks. The sale-to-list ratio recovered from 98.35% in February and 99.40% in March to 100.45% in April, with 5 homes selling above list and 5 at list — a meaningful shift from March when only 2 of 6 closings cleared asking price. Active inventory has been building since the winter trough of 22 homes in November 2025, reaching 28 in January, 29 in February, 39 in March, and 46 in April, giving buyers more to choose from even as demand picked up.
Mortgage context
The 30-year fixed rate sits at 6.625% as of late May, up 0.375 pp from 30 days ago and 0.43 pp above February's monthly average of 6.19% — the softest rate point of the past six months. After dipping to a 6.19% average in February, rates climbed through March (6.48%) and April (6.42%) before moving higher still, which is compressing affordability just as South Salt Lake's spring buying season accelerates. FHA financing at 6.00% and VA at 6.25% remain meaningfully cheaper than the conventional rate, and given South Salt Lake's price point — where the $400K–$700K band dominated April closings — those programs are worth running the numbers on for qualifying buyers.
Payment math
On a median-priced home today, P&I lands at $2,569/mo at 6.625% — $99/mo more than 30 days ago at 6.25%, and $114/mo above the February low when rates averaged 6.19% and P&I would have been $2,455.
If you're buying
Target homes in the Prestwick and Lower Mill Creek corridor that have been sitting 60-plus days — the Prestwick subdivision logged a median DOM of 114 days on its April closings, and the under-$400K band (median DOM of 35 days) is moving slower than the $400K–$700K sweet spot, suggesting negotiating room exists at the lower end. With the sale-to-list ratio at 100.45% overall, well-priced homes in the $450K–$550K range are attracting competition, so come in with financing fully buttoned up; but homes with price-change history (3 of 14 April closings had prior reductions) are signaling sellers who have already adjusted and may have more flexibility. If you're stretching on the conventional rate, run FHA (6.00%) or VA (6.25%) scenarios — on a $500K purchase the monthly savings versus 6.625% conventional are material.
If you're selling
April's 100.45% sale-to-list ratio is encouraging, but it's driven by correctly priced homes — the 4 closings that sold below list are a reminder that overpricing still costs time and money in South Salt Lake. If your home is in the $400K–$700K band (which captured 11 of 14 April closings), price at or just under the nearest comp rather than testing above it; the Big Field Sur area and Lower Mill Creek Sub both saw quick sales at strong prices in April, so condition and presentation matter more than aggressive list pricing. With 46 active listings competing for buyers, sellers who can differentiate on updates, parking, or proximity to the I-15 commute corridor will move faster than those relying on the market to do the work.
Outlook
South Salt Lake enters May and June with building inventory (46 active listings, 22 new in April) and a buyer pool that demonstrated real appetite in April, but rising rates — now at 6.625% and trending higher — will keep a ceiling on how far prices can run. Seasonality typically supports continued closing volume through June, and if new listings keep pace with the 20–22 per month seen in March and April, absorption should stay in the 3–4 month range, which is balanced rather than tilted sharply toward either side. Buyers priced out of Salt Lake City's tighter submarkets like Sugar House or the Avenues may continue to look at South Salt Lake as a value alternative, which could sustain demand even if rate headwinds persist.
Watch for
If the 30-year fixed rate crosses 7.00%, expect South Salt Lake's monthly closings to retreat toward the 6–8 range seen in the winter months, as the $400K–$700K buyer pool — already stretching at 6.625% — loses meaningful purchasing power.
"South Salt Lake's spring switch flipped — 14 closings, a 100.45% sale-to-list ratio, and buyers competing again."
Common questions about South Salt Lake this month
Is South Salt Lake a buyer's or seller's market in April 2026? ▾
It's closer to balanced, leaning slightly toward sellers in the $400K–$700K range. The sale-to-list ratio of 100.45% and 5 homes selling above list price indicate competition for well-priced inventory, but 46 active listings and 4 homes selling below list show buyers still have options and leverage on stale or overpriced properties. Absorption at 3.29 months sits in the middle of the balanced range.
What price range is moving fastest in South Salt Lake right now? ▾
The $400K–$700K band is clearly the most active segment, accounting for 11 of 14 April closings at a median sale price of $510,000 and a median DOM of 21 days. The under-$400K band (3 closings, median DOM 35 days) is moving more slowly, and no homes above $700K closed in April. Buyers and sellers in the $450K–$550K range are seeing the most competitive conditions.
How are rising mortgage rates affecting South Salt Lake buyers in spring 2026? ▾
The 30-year rate has climbed from a 6.19% average in February to 6.625% today — a 0.43 percentage-point increase that translates to roughly $114/mo more in P&I on a median-priced home. That said, April's closing volume still jumped to 14, suggesting buyers are absorbing the higher costs rather than stepping away entirely. FHA (6.00%) and VA (6.25%) options offer meaningful relief for qualifying buyers in this price range.
Which neighborhoods in South Salt Lake are seeing the most activity? ▾
Prestwick recorded 2 closings in April at a median sale of $501,500, though with a median DOM of 114 days those were longer-tenured listings finally clearing. Big Field Sur produced a quick 3-day sale at $660,000, and Lower Mill Creek Sub closed at $510,000 in 17 days — both suggesting strong demand for move-in-ready product near the Millcreek corridor. The Park subdivision has been a consistent presence across multiple months, typically in the $400K–$435K range.
Should I wait for rates to drop before buying in South Salt Lake? ▾
Rates averaged 6.19% in February — the low point of the past six months — and have since climbed to 6.625%, with the near-term trend pointing higher. Waiting for a rate drop is a timing bet with no guaranteed payoff, and April's data shows 14 other buyers decided not to wait. A more practical approach is to shop the 46 currently active listings for homes with prior price reductions or longer days on market, where sellers may be more flexible on price even if rates stay elevated.
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
April 2026 cohort breakdown
Distribution of what closed last month — by price band, sale-vs-list outcome, and top subdivisions.
How sales priced vs asking
15 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 22 · 25th percentile 12 · 75th percentile 85
Needed a price change
Sold listings that had a recorded price change before close
3 of 15 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. Prestwick 2 sold · $502K · 114d
- 2. Big Field Sur 1 sold · $660K · 3d
- 3. Granite 1 sold · $565K · 0d
- 4. Lower Mill Creek Sub 1 sold · $510K · 17d
- 5. Park 1 sold · $435K · 9d
April 2026 by property type
How each housing type performed last month — 10 closings total across subtypes.
Summary Statistics
| Metric | Apr-26 | Apr-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 15 | 10 | +50.00% | 31 | 36 | -13.89% |
| Median Sale Price | $503,000 | $412,500 | +21.94% | $472,242 | $410,133 | +15.14% |
| Median DOM | 22 | 19 | +15.79% | 32 | 35 | -8.57% |
| Sale-to-List Ratio | 100.53% | 98.81% | +1.74% | 99.93% | 98.91% | +1.03% |
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.