Millcreek, UT 84106 Real Estate Market Report

ZIP Code: 84106
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the housing market in Millcreek, UT is characterized by a median sold price of $640,500, reflecting a stable market despite recent fluctuations. The neighborhood has increased up since 2023, indicating a resilient demand for homes despite the challenges posed by elevated interest rates. The median days on market has risen to 206, suggesting a slower sales velocity and a shift towards a more balanced market as inventory levels remain elevated relative to sales activity.

The current median listing price stands at $677,200, which highlights a notable gap between asking prices and actual sold prices, potentially indicating seller expectations that may not align with market realities. With median market rent at $2,061, the rental market appears to be strong, further supporting the overall housing demand in the area. However, elevated interest rate pressure continues to challenge affordability for prospective buyers, contributing to a more cautious market atmosphere.

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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

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.

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Liquidity & Velocity

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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 Millcreek, UT, around 5.625% to 6.15% are generally lower than the Utah average of 6.08% as of February 2026.

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 $640,500 indicates a stable market, with prices generally up since 2023.

2. A median days on market of 206 reflects a slower sales velocity, suggesting a transition towards a more balanced market.

3. The median listing price of $677,200 shows a significant gap compared to sold prices, indicating potential pricing friction.

4. Median market rent at $2,061 suggests a strong rental demand, supporting overall housing market stability.

5. Elevated interest rate pressure may continue to challenge affordability, impacting buyer sentiment and market activity.

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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.