Salt Lake City, UT 84116 Real Estate Market Report

ZIP Code: 84116
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.

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Key Findings

1. median sold price is the primary indicator of current market value and recent transactions, but the metric is not provided in the available data, which limits transaction-based price confirmation and forces reliance on listing-price and trend signals for valuation context. neutral

2. median listing price is $475,000, and given the sample's elevated inventory relative to sales activity this listing-level signal may overstate achievable sale prices unless sellers adjust expectations to prevailing trade conditions. balanced-to-cautious

3. median days on market is 84, which indicates slower sales velocity and suggests pricing friction; properties may require longer marketing time or price concessions to reach closed transactions. slower sales velocity

4. market temperature is neutral while price year-over-year trend and rent year-over-year trend are both up, but with elevated interest rate pressure; this mix suggests steady price momentum tempered by financing headwinds that may keep market movement moderate. caution

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Notable Properties

The following 1 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 84116 Real Estate Market Report

ZIP Code: 84116
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.

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Key Findings

1. median sold price is the primary indicator of market value and recent transaction activity for 84116, but a recent sample median sold price is not provided in the available metrics, so interpret liquidity and pricing using transaction context and trend signals instead (representative recent sale needed).

2. price year-over-year trend: up indicates ongoing moderate appreciation; combined with a reported neutral market temperature, this suggests pricing is firming but the market remains balanced enough that sellers should moderate expectations and buyers may find negotiation room.

3. median market rent: 1,240 and a rent year-over-year trend: up together signal strengthening rental demand and income support for valuation arguments; investors should consider this positive rental momentum when underwriting, while recognizing sales transactions remain the primary value driver (rental upside).

4. interest rate pressure: elevated and sample-level observations of elevated inventory relative to sales activity may temper near-term velocity and create pricing friction, so expect slower sales velocity and the need for competitive pricing or concessions to convert listings into closed transactions.

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Notable Properties

The following 1 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.