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 Salt Lake City, UT (ZIP: 84118) is $430,000, reflecting a stable market despite localized price declines. The neighborhood has decreased 8% since 2022, indicating a shift in market dynamics. While this decrease may suggest some challenges, the median listing price of $429,950 closely aligns with the sold price, indicating that sellers are adjusting expectations to meet current market realities.

Current market conditions reveal elevated inventory levels, contributing to a slower sales velocity with a median days on market of 163 days. This extended time frame for properties on the market suggests a cautious buyer sentiment, likely influenced by elevated interest rate pressure, which is currently affecting affordability across the region. Despite these challenges, the overall market temperature remains neutral, indicating a balanced environment where both buyers and sellers may find opportunities.

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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 Salt Lake City UT 84118 range from 5.625% to 6.58%, indicating property owners who originated loans in 2026 at the higher end of that range may have a refinancing cost opportunity.

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 $430,000, indicating stable transaction values despite recent price declines.

2. The neighborhood has decreased 8% since 2022, reflecting softening market conditions.

3. With a median days on market of 163, properties are experiencing slower sales velocity compared to previous periods.

4. Elevated interest rate pressure is impacting affordability, contributing to declining buyer demand.

5. The median market rent stands at $2,300, suggesting moderate rental market stability amidst overall market fluctuations.

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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.