JULY METRICS
With over half of 2025 now behind us, we wanted to give a quick update of what we’ve seen in the market and what can be expected for the rest of the year and beyond.
There are a few graphs that best explain the market’s current trajectory.
First is the Home Sales graph. This shows three important metrics; Median Sold Price, Total Number of Homes Sold, and Total Number of Homes Listed.
The Real Estate Collective services all of Utah so we’ve pulled data for the entire state as well as our two major markets (Utah and Salt Lake County, and Washington County)
The biggest thing that stands out in these is the Median Sold Price. Over 2024, there was a slight downturn in the Median Sold Price as the which was largely attributed to rising interest rates and lingering COVID-19 market corrections. This Summer, the Median Sold Price resumed its typical upward trend across the state indicating a return to balance for the market moving forward.
Also worth noting, particularly in the State-Wide and Northern Utah data sets is the strong upward trend of available inventory. This is following a typical trend for Q2 and is great news particularly for buyers who may have been struggling to find listings earlier in the year.
Absorption is another important metric to look at to gauge the health of the Real Estate Market. This gives an indication of future trends as it shows how many months worth of available inventory there is. A balanced market trends between 3 and 4 months of available inventory. The latest Absorption Report from the WFMLS estimated 3.41 months worth of inventory indicating a well balanced market. Individual markets are experiencing some variation but both the north and south counties in our reports stayed within the 3 to 4 month range indicating that we will be seeing a health market over the next few months.
The final data set we’ll touch on is Median Days on Market (DOM). Many homebuyers are still reeling from the Pandemic-period when the DOM dropped down to 6 days. As has been mentioned already, the market has gotten much more balanced and now is hovering in the low 30s.
INTEREST RATE TRENDS
Interest rates have been major drivers in the housing market lately. When rates began to rise in 2023 and 2024, many homebuyers seemed to hold off in anticipation of future rate drops. Experts are indicating that we have, at least for the foreseeable future, gotten the interest rate spike behind us with Fannie Mae predicting a steady decline to low 6%’s by the end of 2026.
Our preferred mortgage partners are optimistic as well and are able to provide multiple program options to buyers to help keep interest rates down as much as possible as we wait for market rates to come down.
For personalized mortgage information, Sean Knudsen of Vonk Lending can be reached at 801.722.9691.
WHY IS UTAH’S HOUSING MARKET SO STRONG?
The bottom line is Utah is a great place to live!
US News ranked Utah as the best state to live based on metrics that included: economy, fiscal stability, education, crime rate, and infrastructure.
This has supported a continued population increase over the last decade as people opt to move to Utah and Utahns stay put. This has created enough demand to support years of housing market growth.
WHAT CAN WE EXPECT FOR FALL 2025?
All indicators are pointing to slow but steady growth as we close out 2025. The downward-trending interest rates paired with plenty of available inventory have created a balanced market that we can expect to carry through the rest of the year.
WHY USE THE REAL ESTATE COLLECTIVE?
While the Median Days on Market for the state has hovered in the 30’s our team has an average in the low 20’s this means we’re getting homes sold more than 10 days faster than the state average! Our listings also sell for average of 100% list price, 3% higher than the state average of 97%.
We work hard to stay on top of market trends to achieve the best possible outcomes for our clients. Our agents are trained extensively on proper home valuation and they have access to a full support team of admin staff to help with marketing and transaction management for each listing. Our streamlined processes mean shorter time to list (4-6 weeks) and faster list to close.
Whether you’re buying or selling, we’re ready to help! (435) 767-1246