Salt Lake City, UT 84116 Real Estate Market Report

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.

Market Metrics

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.

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.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. median sold price is the primary indicator of neighborhood value and recent transaction activity, but it is not provided in the available metrics; this likely reflects insufficient or non-representative closed-sale data in the sampled dataset rather than a stable market signal. insufficient sales sample
2. median listing price — 479,500 suggests current seller expectations are at this price point; without a reliable median sold price to confirm, this may indicate a pricing gap between asking levels and realized transactions.
3. median days on market — 55 combined with elevated inventory relative to sales activity suggests slower sales velocity and increased time for listings to find buyers, while the reported market temperature is neutral, implying the market is roughly balanced rather than strongly favoring buyers or sellers.
4. median market rent — 1,295 is rising alongside a reported rent year-over-year trend of up, which supports continued rental demand; however, elevated interest rate pressure and current mortgage rate ranges of 6.4% to 6.8% may constrain purchase affordability and keep some buyers in the rental market, with median price per square foot — 313 providing a unit-price reference for valuation comparisons.

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.