Every month I pull the full MLS dataset for Salt Lake County and go through it myself. Here’s what May 2026 actually looked like.
The headline numbers
The median sales price landed at $572,500, up 2.1% from a year ago. Not a big move, but steady. The average sale price came in at $656,896, essentially flat year-over-year.
Closed sales were 1,160 for the month, down about 7% from May 2025 on a month-to-month comparison, but up 1.9% on a year-to-date basis. Normal seasonal variation. Nothing alarming.
The number I keep coming back to: pending sales hit 1,588, which is up 16.3% versus May 2025. That’s buyers making decisions. That’s the real demand signal.
Supply is rising, demand is keeping up
New listings came in at 1,859, which is actually down 6.3% from a year ago. Inventory overall sits at 3,427 active listings, up 7.5% year-over-year. Months of supply is at 3.0, which is up 15.6% from last May.
So yes, there’s more inventory than there was. But the pending sales number tells you buyers are absorbing it. This isn’t a market piling up with unsold homes. It’s a market finding its footing after a few years of historically low supply.
For reference, a balanced market is typically 4–6 months of supply. We’re still below that.
Where it’s tightest: $500K–$700K
Break it down by price range and the picture gets sharper. The $500,000–$700,000 range has only 2.31 months of supply right now, the tightest segment in the county. Homes there are selling at 99.8% of list price. That’s essentially full ask.
If you’re buying in that range, you’re not in a buyer’s market. You need to be ready to move and your offer needs to be clean.
Above $700K it loosens up. Below $500K it depends heavily on condition and location, but well-priced homes are still moving.
Single family vs. condo and townhouse
Single family median is $639,900. Months of supply is 2.18, very tight. If you’re selling a well-maintained single family home in Salt Lake County, you’re in a good position.
Condos and townhouses have a median of $415,550 and months of supply around 4.2. More balanced. More negotiating room on both sides. Still not a buyer’s market, but less urgency than the single family segment.
Days on market and sale-to-list
Average days on market is 48, up 4.4% from a year ago. Homes are taking a little longer than they did at the peak. Overpriced listings sit. Correctly priced listings still move quickly.
Sale-to-list ratio countywide is 97.8%. That’s the discount buyers are averaging. In the $500K–$700K range it’s 99.8%. Price matters, but it matters differently depending on where you are in the market.
What this means if you’re buying or selling
Sellers: Pricing correctly is the whole game right now. The days of list it and watch offers pile up are behind us in most segments. But priced right, in good condition, with decent photos, you’ll sell. The pending sales volume backs that up.
Buyers: You have more options than you did two years ago. Interest rates are still a factor, but inventory is higher and the frantic bidding wars of 2021–2022 are not the baseline anymore. In the $500K–$700K range you still need to compete. Above $800K you have more room to negotiate.
If you want to talk through what any of this means for your specific situation, whether you’re thinking about buying, selling, or just trying to understand what your home is worth, reach out. That’s what I’m here for.
, Mike
