Utah Home Prices Hit Record High as Market Shows Mixed Signals

Data from the Salt Lake Board of Realtors show the median price for a single-family house in Salt Lake County climbed to $645,000 in Q2 2026, a 4.88% rise over the prior year and the highest quarterly median on record. The quarter recorded 2,334 single-family sales, 4.62% more than in Q2 2025, with strong performance in parts of Salt Lake City, South Jordan, West Jordan and Taylorsville. Some zip codes, such as Alpine in Utah County, posted median prices above $1.5 million, while condo prices fell in Salt Lake and Weber counties despite higher transaction volumes.

Scott Colemere, president of the Salt Lake Board of Realtors, called the market "bipolar," noting sellers still act like the pandemic boom while buyers react to mortgage rates that have more than doubled. He said the higher rates have produced modest discounts of 2-3% off list prices, creating a near-balanced market. Colemere remains cautiously optimistic, seeing a steady 5% annual appreciation as a sign of a healthy market if consumer confidence holds.