Millcreek, UT 84107 Real Estate Market Report

ZIP Code: 84107
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Millcreek, UT is $542,449.50, reflecting a market that has seen modest price appreciation. The neighborhood has increased up since 2023, indicating a positive trend in property values despite the current economic pressures. The market is characterized by elevated inventory levels, which may indicate a shift towards a more balanced state, allowing buyers some negotiating power as homes are taking longer to sell, with a median of 237 days on market.

Although the market remains fundamentally strong, the elevated interest rate pressure, with current mortgage rates around 6.04%, is tempering overall market activity. This situation suggests that while sellers may still have some leverage, buyers are becoming more discerning, leading to a slower sales velocity and a more cautious approach to pricing.

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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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Property Taxes

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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 near Millcreek UT at approximately 6.04% are 0.4% higher than the recent national average low of 5.6% seen in early 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 listing price stands at $577,000, indicating seller expectations may be higher than recent sale prices.

2. With a median days on market of 237, properties are experiencing slower sales velocity, suggesting a cautious buyer sentiment.

3. The median market rent is $2,061, which may influence buyer decisions as rental costs remain significant.

4. The price year-over-year trend is up, signaling a positive trajectory in property values despite elevated interest rate pressure.

5. The market temperature is currently neutral, indicating a balanced market where neither buyers nor sellers have a distinct advantage.

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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.