Salt Lake City, UT 84118 Real Estate Market Report

ZIP Code: 84118
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in the Salt Lake City, UT (ZIP: 84118) market is currently $434,900, reflecting a stable market environment. The neighborhood has decreased 8% since 2022, indicating a slight softening in property values over the past year. Despite this decline, the market remains resilient, with robust underlying demand supported by positive economic fundamentals, including job growth.

Inventory levels are elevated, with a notable increase in the median days on market, currently at 168 days. This suggests a slower sales velocity, as properties are taking longer to sell compared to previous periods. The market temperature is classified as neutral, indicating a balance between buyer and seller activity, although the excess supply relative to sales may create pricing friction in the near term.

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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

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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 the Salt Lake City market at 5.500% are significantly lower than the average origination rate of 6.580% seen earlier in 2026.

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. The median sold price is $434,900, which reflects a slight decrease of 8% since 2022 indicating softening in property values.

2. Median days on market are at 168 days, suggesting a slower sales velocity and longer selling times.

3. The median price per square foot stands at $365.43, which may indicate pricing friction as buyers adjust to market conditions.

4. The median market rent is $2,300, showing an upward trend in rental prices year-over-year.

5. Current interest rate pressure is classified as moderate, which could influence buyer sentiment and affordability.

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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.