Salt Lake City, UT 84121 Real Estate Market Report

ZIP Code: 84121
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the median sold price in Salt Lake City, UT (ZIP: 84121) stands at $749,000, reflecting a gradual stabilization in the housing market. This price point indicates a modest appreciation trend, contributing to a more balanced market environment. The neighborhood has experienced an upward trajectory in pricing, aligning with the overall market sentiment of increasing value.

The market is currently characterized by elevated inventory levels, suggesting that buyers have more options and negotiating power compared to previous periods. The median days on market is 194, indicating a slower sales velocity, which may suggest a shift towards a more cautious buyer sentiment. With a neutral market temperature and moderate interest rate pressure, the landscape appears stable, albeit with some pricing friction as sellers adjust to market realities.

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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 is $749,000, indicating a stable market with potential for continued appreciation.

2. With 194 days on market, properties are experiencing slower sales velocity, suggesting a need for strategic pricing to attract buyers.

3. The median listing price of $776,450.5 reflects a gap between seller expectations and market realities, indicating potential pricing adjustments.

4. The median market rent has risen to $2,590, which may influence buyer decisions as rental options become more competitive.

5. The market temperature is neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage.

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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.