Salt Lake City, UT 84111 Real Estate Market Report

ZIP Code: 84111
Report Date: April 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) is currently $529,000, reflecting a stable market with modest price appreciation. This price indicates a healthy transaction activity, as it is a more accurate representation of market conditions compared to listing prices. The market has shown an upward trend in prices, suggesting a positive trajectory in value over recent months.

Transaction velocity appears moderate, with elevated inventory levels contributing to a balanced market environment. The median days on market stands at 267 days, indicating a slower sales velocity, which may suggest that buyers are taking their time to make decisions in the current economic climate. Overall, the market remains neutral, supported by steady demand and economic fundamentals, despite elevated interest rate pressure affecting buyer sentiment.

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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 6.38%, which is 0.16% higher than the average rate of 6.22% seen last week.

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. $529,000 is the median sold price, indicating a stable market with modest price appreciation.

2. The median days on market is 267, suggesting a slower sales velocity and potential pricing friction.

3. Market temperature is neutral, reflecting a balanced environment between buyer and seller activity.

4. Elevated interest rate pressure may be impacting buyer sentiment and decision-making processes.

5. The median market rent is $1,550, which remains stable, indicating a consistent rental demand in the area.

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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.