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The Salt Lake Market Update April, 2025

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Real Estate Market Snapshot

- Last Updated April 2, 2025

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The Utah real estate market is entering spring 2025 with some interesting changes. Mortgage interest rates are hovering in the mid-6% range (KSL), which is higher than a few years ago and continues to impact affordability for buyers. The good news is that housing inventory is gradually improving – as of February, there were over 14,000 homes on the market statewide, about 1,900 more than the same time last year (Salt Lake Tribune). Prices remain high by historical standards, but price growth has cooled significantly. In fact, the statewide median home price in Feb 2025 was around $547,700 – up only 2.3% from a year ago (UtahRealEstate).

Salt Lake County Housing Market Trends (Spring 2025)

Salt Lake County’s median sale price is about $539,000 as of February 2025 (Redfin). Homes are taking longer to sell – around 58 days on market, up from 45 days this time last year. Inventory is up: approximately 3,000 homes for sale in March 2025, a 59% increase from February (Realtor.com).

Utah County Housing Market Trends (Spring 2025)

The median sale price in Utah County is around $515,000 (Redfin). Homes are spending 59 days on market, versus 41 a year ago. February sales dropped slightly, with under 600 homes sold. Inventory is up due to new construction, especially in Lehi and Eagle Mountain (UtahRealEstate).

Davis County Housing Market Trends (Spring 2025)

The median sale price in Davis County was $535,000 in Jan 2025, up 8–9% year-over-year (Rocket Mortgage). Some listing prices dipped slightly, but sold prices remain strong. Homes are averaging 60 days on market, slightly faster than last year. Inventory sits around 897 active listings (Realtor.com).

Comparing the Three Markets

  • Salt Lake County: Most expensive historically, now leveling off. Inventory rising quickly. Balanced pace.

  • Utah County: Slightly lower prices, slower appreciation. Good inventory from new construction.

  • Davis County: Strong appreciation recently. Still fast-moving. Tight inventory.

Is It a Good Time to Buy or Sell?

Buyers: More listings, less competition, room for negotiation. Sellers are offering concessions. (Salt Lake Tribune)

Sellers: Homes still selling at high prices. Be strategic: price right, consider offering incentives. Homes are taking longer to sell, but buyers are serious.

3–6 Month Outlook

Expect modest price gains. Salt Lake Board of Realtors forecasts median home prices to rise about 2% this year (KSL). Rates may hold or drop slightly, which could bring more buyers back into the market. More listings expected, but no oversupply.

Ready to Make Your Move? Contact The Alex Lehauli Group

If you’re thinking about buying or selling a home in Salt Lake County, Utah County, or Davis County, reach out to the Alex Lehauli Group. We understand the local market and are here to guide you through every step. Contact us today and let’s talk strategy!

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