Cedar City, UT 84721 Real Estate Market Report

ZIP Code: 84721
Report Date: April 2026
Market Temperature: COLD
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Cedar City housing market is characterized by a median sold price of $298,000, reflecting a stable environment with very modest price appreciation. Currently, the market is experiencing a flat price trend, suggesting a period of equilibrium where buyer and seller expectations are aligning. However, homes are taking significantly longer to sell, with a median days on market of 334 days, indicating a slower sales velocity and a market that may favor buyers due to elevated inventory levels.

In contrast to the housing market, the rental market is showing strong demand, with a median market rent of $2,205 and an upward trend in rents year-over-year. This divergence between the housing and rental markets may indicate a shift in buyer sentiment, with potential buyers opting for rental options amidst elevated interest rate pressure, which currently stands at 6.38% for 30-year fixed mortgages, higher than the previous year's average. Overall, the market appears to be navigating a complex landscape with both opportunities and challenges.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Cedar City, UT are averaging 6.38%, which is 0.26% higher than the 6.12% average from March 2025.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $298,000 indicates a stable market environment with very modest price appreciation.

2. Homes are taking longer to sell, with a median days on market of 334 days, reflecting slower sales velocity.

3. The market temperature is currently cold, suggesting a cautious approach from buyers and sellers alike.

4. Elevated inventory levels are present, which may indicate excess supply relative to sales activity.

5. The rental market is performing well, with a median market rent of $2,205 and rents trending up year-over-year.

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Notable Properties

The following 1 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.