📊 Salt Lake City Real Estate in August: What the Numbers Say
As summer winds down, Salt Lake City’s housing market remains active, but signs of a seasonal shift are starting to appear. With many families wrapping up moves before school starts, August provides important insight into what we can expect heading into fall.
This month’s market snapshot reveals:
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Average sales price trends
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Inventory and buyer activity
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Shifts in time on market
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Strategic advice for buyers and sellers
💰 Median Sales Price & Volume
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Average Sales Price: $758,045
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Total Volume Sold: $563,227,948
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Properties Sold: 743
Pricing remains strong, reflecting sustained demand—especially in desirable neighborhoods and for updated homes. Salt Lake County continues to see healthy activity across various price points, particularly between $600K–$800K.
💡 Insight: Buyers hoping to avoid fall competition should act soon. There are opportunities to negotiate now before inventory surges post-Labor Day.
🏡 Inventory & Days on Market
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Homes Available: 2,113
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Average Days on Market: 47 days
Inventory is holding steady, but homes are taking slightly longer to sell. Well-presented listings under $750K still move quickly, but buyers now have more time and choice.
💡 Seller Tip: Late summer is still active. Pricing strategically and prepping for showings remains critical.
📉 Mortgage Rate Snapshot
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30-Year Fixed: ~6.45%
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15-Year Fixed: ~6.00%
Rates remain relatively stable, giving buyers more predictability. Creative financing strategies like temporary buydowns or adjustable-rate mortgages are growing in popularity.
💡 Buyer Tip: This is a great time to lock in a rate or negotiate seller-paid concessions to offset interest costs.
📍 Salt Lake Neighborhoods Seeing High Activity
These areas continue to perform well in August:
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Millcreek: Updated homes under $600K draw strong buyer interest
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Daybreak: Popular with families due to walkability, parks, and schools
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Holladay: Larger homes and tree-lined streets appeal to move-up buyers
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Downtown SLC: Urban buyers love the convenience and lifestyle perks of condos and townhomes
🔮 What to Expect for Fall 2025
Looking ahead, we anticipate:
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A moderate rise in inventory post-Labor Day
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Slight cooling in pricing by mid-September
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Better negotiation leverage for buyers on listings that lingered over summer
💡 Expert Insight: August is a prime month for both buyers and sellers to make their move before competition and changes in pace pick up this fall.
🏁 Ready to Make a Move?
Whether you're buying your first home or selling your current one, understanding these trends can help you make informed, strategic decisions.
📞 Book a call with Move Utah Real Estate to get a personalized August market breakdown and customized plan for your next move.
