Utah Housing market update - Episode 168 - January 12th 2026

Here's where things are in the Utah housing market as of 1/12/2026:




-Current Inventory = 10,613: up from previous week, still trending down through winter as we expect but wouldn’t it be interesting if we saw a repeat of Q1 in 2025, where both inventory and sales picked up immediately with the new year? We’ll see.

-Prior Week Average DOM = 76: same as last week.

-Prior Week Average List$ = $690,509: down from previous week, and trending down.

-Prior Week Average Sold$ = $678,180.

-Prior Week List$ vs Sold$ = -$12,329 in the buyer’s favor.

-Prior Week Median Sold$ = $519,995: down from the previous week.

-Prior Week Homes Sold = 394: down from previous week, trending down.

-Currently Under Contract = 3,936: down just a touch from the week before, trending down.

-Prior Week Price Reductions = 1,014: up from the previous week and trending down as we see it from the beginning of the 4th quarter of last year, but as I said last week I do expect the number of price reductions we see weekly to trend up through Q1 just because that is typical. In Q4, a high amount of sellers don’t see the writing on the wall, and when their home has been on the market through Thanksgiving, Christmas and New Year’s they start dropping their asking prices.

-Prior Week Listings Cx/Ex/Withdrawn = 466: dramatically down from the previous week, because we expect the first week of any year to show the highest amount of expired listings all year. 

-Interest Rates (30yr Fixed Conventional) = 6.01%: down from previous week, trending down - national average rates actually dipped barely into the 5% range in the middle of the week last week but then came back up a bit to where we start this week, still under where we were last Monday.




Okay what all this means for Sellers in Utah is that as always, you want to get in front of the direction the market is moving if you don’t want your home to sit on the market for 3+ months. 




That means that as you prep to get your home on the market and you’re looking at comparable homes in your neighborhood and what they’ve sold for in the last 30 days, it may be wise to price your home a little more conservatively than those sold prices. You know who decides what homes are sold for? The most motivated Seller in your neighborhood, that’s who.




What the market data means for Buyers right now is that chances are, you’ll be able to negotiate a deal slightly in your favor. I’ve been saying this for a year+ now and I made a reel about it just last week: the market is leaning in your favor but that doesn’t mean it tipped over completely.




Offers of 5-10% below asking price are not going to be considered if the Seller and their agent know anything about this market. Buyer’s have been securing homes for 1-2% less than asking price on average - so as with everything it is situationally dependent, just understand that you’re gonna make more than 2-3 low ball offers before you figure it out if you’re unwilling to listen to my advice here.




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