Salt Lake City, UT 84117 Real Estate Market Report

ZIP Code: 84117
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The housing market in Salt Lake City, UT (ZIP: 84117) is currently characterized by a median sold price of $934,999, reflecting a stable market environment. This price point indicates a modest appreciation trend, with the market showing signs of balance as inventory levels increase. The median days on market stands at 285, suggesting a slower sales velocity, which may indicate a shift towards a more cautious buyer sentiment amidst elevated inventory levels.

With median listing prices reaching $994,450, there is a notable gap between asking prices and actual sold prices, which could reflect seller expectations that are not fully aligned with current market realities. The overall market temperature is described as neutral, indicating a balanced condition where neither buyers nor sellers have a distinct advantage. This stability is further supported by a median market rent of $2,360, which continues to show strength, suggesting ongoing demand in the rental sector despite the broader market dynamics.

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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. The median sold price of $934,999 indicates a stable market environment with modest appreciation.

2. With median days on market at 285, the market is experiencing slower sales velocity, suggesting a cautious buyer sentiment.

3. The median listing price of $994,450 shows a significant gap compared to sold prices, indicating potential pricing friction for sellers.

4. The market temperature is neutral, reflecting balanced conditions between buyers and sellers.

5. A median market rent of $2,360 suggests strong rental demand, contributing to the overall market stability.

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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.