Salt Lake City, UT 84109 Real Estate Market Report

ZIP Code: 84109
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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 84109 area are approximately 6.35%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.

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 the primary indicator of market value and recent transaction activity, and current transaction data suggest stabilization rather than rapid appreciation or decline; treat recent sales as the representative signal for pricing and liquidity (balanced).

2. The median listing price: 850,000 shows seller expectations above many recent transactions, which may create pricing friction between asking and realized values in negotiations when matched with current transaction signals.

3. The median days on market: 29 points to a moderate sales velocity — not a rapid flip market but also not extremely stagnant — which appears consistent with a neutral market temperature.

4. The median market rent: 2,400 combined with a rent year-over-year trend of flat signals steady rental demand but limited rent growth; investors should expect stable cashflow assumptions rather than upside from rent increases (flat).

5. The interest rate pressure: elevated and local 30-year fixed mortgage rates near 6.35% increase financing costs for buyers and may constrain price acceleration; consider structuring offers and hold strategies with higher financing sensitivity in mind (elevated).

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Notable Properties

The following 3 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.

Salt Lake City, UT 84109 Real Estate Market Report

ZIP Code: 84109
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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Property Taxes

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Liquidity & Velocity

Liquidity metrics unavailable due to insufficient data quality.

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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 84109 area are approximately 6.35%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.

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 primary indicator, median sold price, is unavailable in the provided metrics; this absence may reflect data sampling limits or timing lags in transaction reporting rather than a definitive market shift, so rely on trend and rent signals for current valuation context. neutral

2. The price year-over-year trend is up, which, combined with a reported market temperature of neutral, suggests modest appreciation within a stabilizing market rather than rapid overheating; this appears consistent with a transition toward balanced conditions and moderate pricing momentum.

3. Rental dynamics show a median market rent of 1,800 with a rent year-over-year trend of flat, indicating stabilized rents—rental demand may remain intact but rent growth has moderated, which can temper investor upside near-term and suggest steady cash-flow expectations rather than strong rent-driven appreciation. flat

4. Interest rate pressure is elevated and local financing conditions are summarized as ~6.35% for a 30-year fixed rate in the area; elevated rates may constrain buyer appetites and elongate decision timelines, which could contribute to pricing friction and a slower absorption of available supply. elevated

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Notable Properties

The following 3 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.