Salt Lake City, UT 84106 Real Estate Market Report

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

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Executive Overview

The Salt Lake City housing market in ZIP code 84106 is currently characterized by a median sold price of $640,000, reflecting a stable market with modest price appreciation. The neighborhood has increased 15% since 2023, indicating a positive trend in property values. However, the market is experiencing a shift towards a more balanced environment, as evidenced by the median days on market of 234, suggesting that homes are taking longer to sell compared to previous periods. This may indicate a gradual cooling of the previously heated market conditions, as buyers are taking more time to make purchasing decisions.

Inventory levels are elevated, with a notable increase in active listings relative to sales activity. This excess supply is contributing to a neutral market temperature, which suggests that while sellers still have some leverage, buyers are gaining more options. Additionally, the median market rent stands at $2,061, showing a strong rental demand with moderate rent increases, which may further influence buyer decisions as they weigh the benefits of purchasing versus renting in the current economic climate.

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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 in Salt Lake City are averaging 6.61% compared to approximately 6.11% when loans originated 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 sold price of $640,000 indicates a stable market with modest appreciation, having increased 15% since 2023.

2. Homes are taking longer to sell, with a median days on market of 234, suggesting a slower sales velocity.

3. Elevated inventory levels are present, indicating excess supply relative to sales activity, which may affect pricing dynamics.

4. The median market rent of $2,061 reflects strong rental demand, with moderate increases that may influence buyer behavior.

5. The market temperature is currently neutral, suggesting a balanced environment where buyers have more options compared to previous periods.

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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.