Every month I pull the full MLS dataset for Salt Lake County and go through it myself. Here is what the market looks like heading into August 2026.
The headline numbers
The median sale price over the last three months (May through July) landed at $560,000. The median home that sold went for 98.8% of its original asking price, in a median of 33 days.
On the supply side, there are 3,291 active listings across the county right now, with a median asking price of about $575,000. Against 3,590 closed sales from May through July, that works out to 2.8 months of supply. A balanced market is typically 4 to 6 months, so the county as a whole still tilts toward sellers, but only modestly, and it varies a lot by city. More on that below.
One housekeeping note: starting this month my dataset also includes the luxury segment above $2 million, which earlier reports excluded. That widens the inventory and sales counts, so this month's totals are not directly comparable to the July report.
What 6.69% money means for your payment
As of August 6, 2026, the 30-year fixed (Freddie Mac weekly average) is sitting at 6.69%. On the county's median sold price of $560,000 with 10% down, that pencils out to roughly $3,249 a month in principal and interest, before taxes, insurance, and any HOA.
A rule of thumb worth memorizing at this rate: every $25,000 of purchase price moves the payment about $145 a month. Buyers are shopping payments, not prices, and that is exactly why getting the list price right matters so much in late summer.
The affordability shelf still favors entry-level buyers
Three financing lines quietly shape this market, and knowing where they sit can save you real money:
FHA reaches to roughly $660,000. Salt Lake County's 2026 FHA loan limit is $637,100, which with 3.5% down finances a purchase price of about $660K.
Utah Housing (UHC FirstHome) reaches to $666,600. First-time buyers can pair down-payment assistance with a purchase price up to $666,600, almost exactly the same shelf as FHA.
The jumbo line sits near $1.04 million. The 2026 conforming loan limit is $832,750; with 20% down that supports a price around $1.04M. Above it, you are into jumbo loans, where rates and underwriting get tougher.
Across the 12 main markets I track, 56% of active listings (1,295 of 2,321) sit at or under the Utah Housing line. If you are shopping with FHA or a Utah Housing loan, more of this county is within reach than most people assume. And if you are selling near those lines, a list price just under $660K opens your home to a meaningfully bigger buyer pool than one just over it.
The 13 markets I track, at a glance
Estimated payment is principal and interest with 10% down at 6.69%, on the median list price.
| Market | Actives | Median list | Est. payment | Months of supply |
|---|---|---|---|---|
| Salt Lake City | 622 | $552,500 | $3,205/mo | 2.5 |
| South Jordan | 352 | $599,450 | $3,478/mo | 3.1 |
| Herriman | 327 | $545,000 | $3,162/mo | 3.4 |
| Sandy | 240 | $749,950 | $4,351/mo | 2.6 |
| Draper | 125 | $899,000 | $5,216/mo | 3.5 |
| Murray | 123 | $565,000 | $3,278/mo | 3.4 |
| Millcreek | 114 | $594,994 | $3,452/mo | 3.1 |
| Holladay | 108 | $945,000 | $5,482/mo | 3.4 |
| Riverton | 97 | $650,000 | $3,771/mo | 2.4 |
| Midvale | 87 | $495,000 | $2,872/mo | 2.4 |
| Cottonwood Heights | 74 | $885,950 | $5,140/mo | 2.6 |
| Bluffdale | 52 | $562,300 | $3,262/mo | 2.9 |
| White City | 0 | n/a | n/a | n/a |
White City is a micro-market and currently has no active listings. I comp it against neighboring Sandy rather than quoting standalone stats.
Three takeaways for August
1. The first price is still the whole game. Countywide, homes that were priced right from day one sold in a median of 17 days and, at the median, brought full original asking price. Homes that started high and reduced later took 63 days and netted 95.2% of the original ask. Six weeks of extra showings and carrying costs, and less money at the end of it. If you are selling this fall, price it right the first time.
2. Balance depends on where you are standing. The county averages 2.8 months of supply, but the range runs from 2.4 months in Riverton and Midvale to 3.5 in Draper. Buyers have the most selection and negotiating room in Draper, Herriman, Murray, and Holladay. Sellers still hold the edge in Riverton, Midvale, Salt Lake City, Sandy, and Cottonwood Heights, where well-priced homes move in three to four weeks.
3. The best buyer opportunity is still at the entry level. With FHA reaching about $660K and Utah Housing to $666,600, over half the inventory in the markets I track is financeable with a low down payment. In a market like Midvale, $2,872 a month on the median listing, owning stacks up surprisingly well against renting comparable space.
Let's talk about your situation
County numbers set the stage, but your street is what matters. If you are thinking about buying or selling this fall, or just want a straight answer on what your home would sell for in this market, reach out and I will walk you through it. No pressure, no scripts.
Mike
Based on information from UtahRealEstate.com for the period May 1, 2026 through July 31, 2026.