Salt Lake City, UT 84117 Real Estate Market Report

ZIP Code: 84117
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.

---

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

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.

---

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

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.

---

Key Findings

1. median sold price is the primary indicator of realized market value and recent transaction activity, but a median sold price is not provided in the available metrics, so recent transaction-level pricing cannot be directly cited from this dataset; this absence may reflect a very small sample of closed sales in the analyzed dataset or delayed reporting. contextual

2. median listing price is 1,719,950, which suggests seller price expectations are elevated relative to typical urban SLC inventory; given the dataset shows elevated inventory relative to sales, this gap may indicate pricing friction where some listings will need adjustment to transact at recorded market levels.

3. median days on market is 52, which, combined with the sample’s elevated inventory relative to sales, appears to indicate moderate-to-slower sales velocity rather than rapid turnover—sellers should expect longer marketing windows and plan pricing and carrying-cost strategies accordingly.

4. median price per square foot is 401 and median market rent is 1,500, while the price year-over-year trend is up and rent year-over-year trend is up; this mix points to modest appreciation pressure on values alongside continuing rental demand, but elevated interest rate pressure (elevated) may constrain buyer affordability and slow conversion of listings to closed sales.

---

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 84117 Real Estate Market Report

ZIP Code: 84117
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.

---

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

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.

---

Rental Market

---

Property Taxes

---

Liquidity & Velocity

---

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.

---

Key Findings

1. median sold price (unavailable) — The median sold price is the primary indicator of realized market value and recent transaction activity; the metric is not provided in the dataset and may be missing due to reporting lag or sample limitations, which constrains definitive statements about recent sale-level appreciation. neutral data availability

2. 450,000 median listing price paired with 81 median days on market suggests pricing friction between seller expectations and transaction pace; the neutral market temperature implies a balanced environment where modest concessions or price adjustments may be required to convert listings into closed sales.

3. 310 median price per square foot and 1,200 median market rent indicate a market where rental demand is relevant to valuation; with rent year-over-year trend up and rental demand persisting, investors and owner-occupiers should weigh cashflow and replacement-cost comparisons when underwriting acquisitions.

4. elevated interest rate pressure remains a headwind for affordability and can lengthen marketing times despite a price year-over-year trend up; combined with the sample's representation of active supply, this suggests elevated interest rate pressure may keep buyers more selective and slow transaction velocity, so price strategy and buyer incentives will be critical in the near term.

---

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.