Utah Housing Market Update - January 5th - Episode 167

Here's where things are in the Utah housing market as of 1/5/2026: And we’ll look at it across the 4th Quarter of 2025, as well as taking a look at the entire year of 2025…




-Current Inventory = 10,422: down a significant chunk from last week, clearly trending down - and looking at it across the year shows us something interesting I was talking about in Q1: normally we see inventory dip for the first month or two of the year, but in 2025 the inventory pickup was immediate. Other than that, normal pattern across the year here for inventory - we saw it get as high as 13,700 at its highest point, which is higher than we’ve had Utah housing supply in over a decade, so we like that.

-Prior Week Average DOM = 76: up from last week, trending up. There was never a point in 2025 when Average Days on Market went below 50 days.

-Prior Week Average List$ = $707,632: that’s up from last week a bit, though it is continuing to trend down right now as it did through the 4th quarter. Looking at it from the beginning of 2025 shows us that Average List$ came very moderately up across the course of the year, and we saw it as low as $625K one week and up to $860K at it’s highest point; it wasn’t that high for long.

-Prior Week Average Sold$ = $719,501

-Prior Week List$ vs Sold$ = $11,859 in the Seller’s favor

-Prior Week Median Sold$ = $525,000: up from the previous week.

-Prior Week Homes Sold = 449: up from previous week, trending down as we expect right now, and this saw a range of anything from 305 to 763 homes sold any given week throughout 2025. Looking at this year-long graph may give us some insight as to why inventory behaved a little differently in Q1 of last year - because the buyers were out! We see the first 4 data points of homes sold in 2025 tank a little bit, but the buyers were already out in relative droves immediately at the beginning of the year making offers, as we’ll see in the next year-chart, and that is atypical - normally that rush of buyers comes in March/April.

-Currently Under Contract = 3,972: down from previous week, and trending down across Q4. The chart showing homes under contract across 2025 further verifies what the last data set showed us on homes sold - a different pattern than usual showing more people getting under contract on homes immediately with the start of the new year. Like I said this isn’t the normal pattern on these data sets but if this happens again this year, it would support keeping our inventory high, and that would be exactly what we need if interest rates continue trending down as they have.

-Prior Week Price Reductions = 557: up from last week, trending down across 2025’s Q4, and I did say I anticipate it starting to trend back up now, so we’ll see. The way this trended across 2025 shows that this data set was one vector working in favor of buyers in our market, and as there are fewer sellers and buyers on the market in winter, there are fewer price drops during those months.

-Prior Week Listings Cx/Ex/Withdrawn = 1,220: up dramatically from last week as I said it would be - because this shows more than anything that a lot of agents wrote their listing agreements to expire at the end of the year, so the lion’s share of this number is showing that. Across the year we see that this was another vector creating downward pressure on Utah home prices across the year. 

-Interest Rates (30yr Fixed Conventional) = 6.19%: the same as last week and as low as we have seen it all year. Trending down across Q4 as it did across the entire year; we started 2025 at the high point of around 7.25% and we ended the year around 6.20%, so we’ve travelled down more than 1 full percentage point, and this looks like the “soft landing” that economists talked about wanting some 3-4 years ago. It’s just happening a lot more gradually and softly than they had in mind.




Remember that I track interest rates from the following website:




https://www.mortgagenewsdaily.com/




If you have any questions about the information in this video or if you're interested in buying or selling a home in Utah in the coming months, please feel free to reach out to me. You know that I know this market like the back of my hand, and I'd love to be on your team and make sure you always know what’s happening next and what to do. Let’s have a conversation!




I'd love to hear from you,




Christopher




801.834.9713

christopher.mcgee@kw.com