Market analytics · May 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
May 2026 · Market Analysis
South Salt Lake homes are closing in 13 days — buyers who hesitate are losing out.
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The defining shift in South Salt Lake's May 2026 market was speed: the median days on market fell to just 13, down from 22 in April and a sharp contrast to the 32 days recorded in May 2025. That acceleration came even as 26 new listings entered the market — the most in any month since at least last spring — and active inventory reached 48 homes, up from 44 in April. Sixteen homes closed in May, matching the pace of July 2025 and running well ahead of the prior 12-month average of 11 closings per month.
Market pulse
After bottoming at 5 closings each in January and February 2026, South Salt Lake's sales volume recovered steadily — 6 in March, 15 in April, and 16 in May — while the time homes spent on the market compressed dramatically. Median days on market went from 103 in January to 22 in both February and March (note: February's 5-day median reflects a very small sample of 5 closings), held at 22 in April, then dropped to 13 in May. The sale-to-list ratio eased slightly from April's 100.53% to 98.92% in May, suggesting that while buyers are still moving quickly, the brief window of above-asking bidding wars has cooled a notch. New listings have also picked up — 20 in March, 22 in April, 26 in May — giving buyers more to choose from along corridors like the Millcreek area and near the Riverfront master-planned community.
Mortgage context
The 30-year fixed rate has climbed to 6.75% — up 0.25 percentage points from 6.5% thirty days ago and 0.56 percentage points above February's monthly average of 6.19%, which was the low point of the past several months. That rate trajectory is adding real cost for South Salt Lake buyers: the monthly principal-and-interest payment on a median-priced home here has risen $132 since February's low, a meaningful headwind in a city where a large share of closings still happen below $400,000. FHA and VA options at 6.25% remain a meaningful alternative for eligible buyers in this price range.
Payment math
On a median-priced home here — about $447,000 with 20% down — the monthly principal-and-interest payment lands at $2,322 at 6.75% — $59 more than 30 days ago at 6.5%, and $132 above the February 2026 low when rates averaged 6.19% and the payment would have been $2,190.
If you're buying
With median days on market at just 13 in May, well-priced homes in South Salt Lake — particularly in the $400,000–$700,000 band near neighborhoods like Nibley Gardens and the Prestwick area — are not sitting. Target homes that have been listed 30 or more days; the sale-to-list ratio on those tends to run closer to 96–97%, giving you room to negotiate, versus the 98–100% range on fresh listings. If you qualify for FHA or VA financing, the 6.25% rate available on those programs saves roughly $100 per month compared to a conventional 30-year at 6.75% on a home in this price range — worth running the numbers before assuming conventional is your only path.
If you're selling
May's 13-day median shows that correctly priced homes in South Salt Lake are moving fast, but the sale-to-list ratio slipping from 100.53% in April to 98.92% in May is a signal that overpricing is no longer being bailed out by competition. Price at or just under recent comparable sales — homes in the $400,000–$500,000 range near the Lower Mill Creek and Waverly Station areas are the most active segment right now, with 7 closings in May at a median of $495,000. With 26 new listings hitting the market in May and active inventory at 48, sellers who need to differentiate should focus on condition and move-in readiness rather than holding out for a bidding war.
Outlook
Over the next 60–90 days, South Salt Lake is likely to see continued listing activity as the spring shoulder season gives way to summer — historically, new listings in this city have peaked in the May–July window. If the 30-year rate holds near 6.75% or climbs further, the under-$400,000 segment (which accounted for 7 of 16 May closings) may soften first, as that buyer pool is most sensitive to monthly payment increases. The $400,000–$700,000 range, anchored by demand from buyers priced out of Salt Lake City proper and commuting along the I-15 corridor, is likely to remain the most competitive segment through summer.
Watch for
If the 30-year fixed rate crosses 7%, expect the under-$400,000 segment in South Salt Lake — which already showed a median sale price of $330,000 in May — to see days on market stretch back toward the 30–40 day range as payment-sensitive buyers pull back or shift toward FHA and VA products.
"Faster closings, more listings, rising rates — South Salt Lake's May told three stories at once."
Common questions about South Salt Lake this month
Is South Salt Lake a buyer's or seller's market in May 2026? ▾
It's still tilted toward sellers, but less sharply than in April. Homes are closing in a median of 13 days and the sale-to-list ratio is 98.92%, meaning most sellers are getting very close to their asking price. However, with 48 active listings and 26 new listings added in May, buyers have more options than they did in the winter months, and homes that are overpriced or need work are starting to sit longer.
How much does it cost per month to buy a median-priced home in South Salt Lake right now? ▾
At the current 30-year rate of 6.75% with 20% down on a $447,000 home, the monthly principal-and-interest payment is about $2,322. That's $59 more per month than 30 days ago when rates were at 6.5%, and $132 more than February's low when rates averaged 6.19%. Buyers who qualify for FHA financing at 6.25% can trim that payment by roughly $100 per month.
Why did the median sale price drop from $503,000 in April to $447,450 in May? ▾
The mix of homes that closed shifted. In April, 12 of 15 closings were in the $400,000–$700,000 range. In May, the split was more even — 7 closings under $400,000 (median $330,000), 7 in the $400,000–$700,000 range (median $495,000), and 2 above $700,000. When more lower-priced homes close in a given month, the overall median moves down even if prices within each segment are stable.
Are homes in South Salt Lake selling above asking price? ▾
Some are, but it's less common than it was in April. In May, 4 of 16 closings went above list price, 7 closed at list price, and 5 closed below. In April, 5 of 15 went above list and the overall sale-to-list ratio was 100.53%. The May ratio of 98.92% suggests the market is competitive but not the frenzied multiple-offer environment seen briefly in April.
Which neighborhoods or areas in South Salt Lake are seeing the most activity? ▾
The Park subdivision recorded 3 closings in May at a median of $290,000 — consistent with its role as one of the more affordable pockets in the city. Nibley Gardens produced a $750,000 sale, and the Burton Place and Spring View Park areas each had closings above $545,000, showing that the upper end of the South Salt Lake market remains active. The Riverfront master-planned community and the Prestwick area have been recurring names in recent months' closing data as well.
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
16 sold homes that had a list price recorded
Days on market spread
Quartile distribution
Median 13 · 25th percentile 1 · 75th percentile 30
Needed a price change
Sold listings that had a recorded price change before close
4 of 16 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. Park 3 sold · $290K · 18d
- 2. Nibley Gardens 1 sold · $750K · 4d
- 3. Spring View Park 1 sold · $548K · 118d
- 4. Burton Place 1 sold · $545K · 63d
- 5. 300 Lofts 1 sold · $495K · 0d
May 2026 by property type
How each housing type performed last month — 16 closings total across subtypes.
Summary Statistics
| Metric | May-26 | May-25 | % Chg | 2026 YTD | 2025 YTD | % Chg |
|---|---|---|---|---|---|---|
| Sold Count | 16 | 13 | +23.08% | 47 | 49 | -4.08% |
| Median Sale Price | $447,450 | $397,830 | +12.47% | $463,802 | $406,869 | +13.99% |
| Median DOM | 13 | 32 | -59.38% | 26 | 34 | -23.53% |
| Sale-to-List Ratio | 98.92% | 98.62% | +0.30% | 99.59% | 98.84% | +0.76% |
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.