Salt Lake City, 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

In Salt Lake City, UT (ZIP: 84107), the median sold price stands at $550,000, reflecting a stable market despite the ongoing adjustments. The neighborhood has increased up since 2023, indicating a modest appreciation in property values. While the local economy remains robust, the market is transitioning from a previously hot seller's environment to a more balanced state, characterized by elevated inventory levels and slower transaction velocity.

The current median days on market is 228, suggesting a slower sales pace as elevated interest rates continue to exert pressure on the market. This dynamic may discourage existing homeowners from listing their properties, contributing to excess supply relative to sales activity. As the market normalizes, buyers may find opportunities amidst the changing landscape, although the elevated interest rate pressure remains a significant factor influencing market liquidity.

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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 the Salt Lake City UT 84107 market average around 5.875%, which is significantly higher than the historical average origination rate of 3.990% for this loan type in Utah.

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 is $555,000, indicating seller expectations are slightly above recent transaction values.

2. With a median days on market of 228, properties are experiencing slower sales velocity, which may suggest a need for price adjustments.

3. The median market rent of $2,061 reflects a rising rental demand, which could attract investors despite the overall market cooling.

4. Current interest rate pressure is elevated, with mortgage rates averaging 5.875%, significantly higher than historical norms, impacting buyer affordability.

5. The market temperature is neutral, indicating a balanced environment where neither buyers nor sellers hold 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.