Salt Lake City, UT 84108 Real Estate Market Report

ZIP Code: 84108
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 Salt Lake City, UT (ZIP: 84108) is currently $982,000, reflecting a stable market despite the ongoing transition towards a more balanced state. The neighborhood has increased 15% since 2023, indicating a positive trend in property values. However, the market is experiencing slower sales velocity, with properties taking a median of 238 days on market. This extended timeframe suggests a shift in buyer sentiment and a need for sellers to adjust expectations accordingly.

Inventory levels are elevated, with excess supply relative to sales activity. This dynamic is compounded by elevated interest rate pressure, which may be impacting buyer engagement. While the median listing price stands at $1,225,000, the gap between listing and sold prices indicates potential pricing friction. Overall, the market temperature is neutral, suggesting a balanced environment where both buyers and sellers may need to recalibrate their strategies to navigate current conditions.

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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

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.

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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, UT 84108 average around 5.89% compared to an estimated 6.09% average when loans originated earlier in 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 is $982,000, indicating a stable market despite a longer selling period.

2. Properties are taking a median of 238 days on market, suggesting slower sales velocity and potential pricing adjustments needed by sellers.

3. The median listing price of $1,225,000 shows a significant gap compared to sold prices, indicating pricing friction in the market.

4. Elevated inventory levels suggest excess supply relative to sales activity, which may impact future pricing trends.

5. Current interest rate pressure is elevated, which could further influence buyer activity and market dynamics.

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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.