Salt Lake City, UT 84118 Real Estate Market Report

ZIP Code: 84118
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.

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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 84118 area are averaging 6.35%, reflecting the prevailing market conditions for property owners in this region as of May 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. median sold price: 429,500 — This is the primary indicator of market value in 84118 and reflects recent transaction activity; given the available sample data, this price point should be used for valuation comparables and negotiation anchors in the near term. representative recent sale level.

2. median listing price: 444,900 vs median sold price: 429,500 — The gap between asking and transacted prices suggests some pricing friction and that sellers are testing higher price expectations; buyers may be able to negotiate toward transactions closer to recorded sold levels. pricing gap indicates caution.

3. median days on market: 64 — The longer median days on market points to slower sales velocity and, together with the sample’s elevated inventory relative to sales activity, suggests a more balanced market temperature where transactions require more time and pricing alignment. balanced market conditions.

4. median market rent: 2,295 and rent year-over-year trend: up alongside Current 30-year fixed mortgage rates averaging 6.35% and interest rate pressure: elevated — Strong rental growth supports buy-to-rent economics, but elevated interest rate pressure increases financing costs for buyers; investors should model financing sensitivity carefully while owners consider rent growth as a partial hedge. elevated interest rate pressure.

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Notable Properties

The following 6 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.