Salt Lake City, UT 84111 Real Estate Market Report

ZIP Code: 84111
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: 84111) currently stands at $519,000, reflecting the actual market transactions and providing a clearer picture of market value compared to listing prices. The market appears to be transitioning towards a more balanced environment, with 246 days as the median days on market indicating slower sales velocity. This trend suggests that while there is a significant gap between the median listing price of $847,500 and the median sold price, it may create pricing friction as sellers adjust expectations to align with buyer sentiment.

Inventory conditions show elevated levels, with excess supply relative to sales activity contributing to a neutral market temperature. Elevated interest rates are tempering buyer activity, which may further impact transaction volume in the near term. Despite these challenges, the long-term outlook remains positive due to strong local economic fundamentals, suggesting potential for future appreciation as the market stabilizes.

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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

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 the Salt Lake City market average around 6.00% to 6.58%, which is notably lower than the 6.87% average seen one year ago, presenting a favorable comparison for recent borrowers.

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. $519,000 is the current median sold price, indicating a significant gap from the median listing price of $847,500, which may create pricing friction as sellers adjust expectations.

2. The median days on market is 246 days, reflecting a slower sales velocity and suggesting that buyers are taking more time to make purchasing decisions.

3. Inventory levels are elevated, indicating excess supply relative to sales activity, which may lead to further price adjustments as the market seeks balance.

4. The market temperature is currently neutral, suggesting a balanced environment where neither buyers nor sellers have a distinct advantage.

5. Elevated interest rate pressure is impacting buyer activity, which may lead to moderate transaction volume in the coming months.

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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.