Here's a full breakdown of Salt Lake County real estate market conditions as of May 2026, pulled directly from MLS data.
Supply: Inventory Is Elevated
Active listings in April 2026 hit 3,172, up from 2,741 in March and the highest level since mid-2025. Seasonally adjusted, supply is sitting at 92.82% of the historical range, meaning there are more homes on the market right now than is typical for this time of year. Inventory has been climbing steadily since January (2,479 → 2,610 → 2,741 → 3,172).
New listings entering the market in April totaled 6,284, up 4.2% compared to April 2025, so fresh inventory is continuing to flow in.
Demand: Sales Softening
April saw 1,142 homes sold, the seasonally adjusted demand index came in at just 27.01%, which is well below historical norms for this time of year. Year-to-date, 3,996 homes have closed (+3.0% vs the same period last year), so the annual pace is still healthy. But month-to-month demand is cooling relative to how active spring markets have been historically in Salt Lake County.
Months of Supply: 2.78, Still a Seller's Market
With 3,172 active listings and 1,142 sales in April, there are 2.78 months of supply, meaning if no new listings entered the market, it would take about 2.8 months to sell everything currently available. Under 4 months is traditionally considered a seller's market. However, the seasonally adjusted months-of-supply index at 92.47% indicates the balance is tilting toward buyers more than it historically has at this time of year.
Takeaway for sellers: You're still in favorable territory, but pricing competitively matters more than it did 18 months ago.
Takeaway for buyers: More choices than usual and slightly less competition, a better window than the past few years.
Pricing: Stable and Holding
The median sold price per square foot in May 2026 is $264/sqft, up 0.69% quarter-over-quarter vs the same period last year. Pricing has been remarkably stable, the median has held in the $259–$264/sqft range throughout the past 24 months with no meaningful decline.
The median sold-to-list ratio remains at 100%, homes are still selling at full asking price. The average is 99.58%, meaning a small number of properties are selling slightly under asking, but the typical transaction closes right at list price.
Days on Market: Normalizing
Median days on market is currently 34 days (MTD), up 13.3% from 30 days at the same point last year. The average is 52 days. This is a normalization from the ultra-competitive 2021–2022 period, not a sign of distress, homes are still selling, just with a bit more time for buyers to make decisions.
Back to Market: Fewer Failed Transactions
Back-to-market listings in April came in at 920, down 1.4% from April 2025. Fewer homes falling out of contract is a sign of transaction health, buyers who go under contract are following through.
Summary
More inventory than usual for this season, buyers have more choices.
Demand below seasonal norms, less bidding war pressure.
2.78 months of supply, technically still a seller's market.
Prices stable at $264/sqft median, homes selling at 100% of list.
34-day median DOM, enough time to be thoughtful, not leisurely.
Questions about what these numbers mean for your specific situation? Reach out, I'm happy to walk through how current conditions affect your buying or selling timeline.
