Midvale, UT 84047 Real Estate Market Report

ZIP Code: 84047
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The real estate market in Midvale, UT is currently characterized by a median sold price of $499,000, reflecting a stable market despite a slight lean towards a buyer's market. The neighborhood has seen prices trend up year-over-year, suggesting a resilient demand amidst stabilizing interest rates. The median listing price stands at $580,000, indicating a notable gap between seller expectations and actual transaction values, which may create pricing friction in negotiations.

Transaction activity appears moderate, with median days on market reaching 232 days. This extended time frame suggests a slower sales velocity, which may be attributed to elevated inventory levels relative to sales activity. The current market temperature is assessed as neutral, indicating balanced conditions where neither buyers nor sellers hold a distinct advantage. Overall, the market reflects a stable environment, but potential buyers may find opportunities due to the existing pricing dynamics.

---

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.

---

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.

---

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

---

Property Taxes

---

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Midvale, UT are averaging 6.38%, which is 0.16% higher than the average rate of 6.22% seen last week.

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

---

Key Findings

1. The median sold price of $499,000 indicates a stable market with potential for negotiation due to the gap with the median listing price of $580,000.

2. With median days on market at 232, the market is experiencing slower sales velocity, suggesting buyers may have more time to evaluate options.

3. The year-over-year price trend is up, indicating a strengthening market despite current buyer advantages.

4. The median market rent is $2,061, which may influence buyer decisions as rental prices show a down trend year-over-year.

5. Interest rates are currently averaging 6.38%, reflecting moderate interest rate pressure that could impact buyer affordability.

---

Notable Properties

The following 8 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.