The latest numbers are in from the Utah Association of REALTORS® — and the Utah housing market is clearly shifting. In this month’s MTN Buff Podcast, we break down the January 2026 data and what it means heading into the spring market across Utah.
The Big Picture: A Market in Adjustment
Here’s what we’re seeing statewide year-over-year:
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New Listings: 4,969 (down 1.2%)
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Pending Sales: 3,091 (down 5.6%)
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Closed Sales: 2,430 (down 0.7%)
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Median Sales Price: $505,000 (up 1.4%)
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Inventory: 12,957 homes (up 6.8%)
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Days on Market: 80 days (up 15.9%)
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Months Supply: 3.6 months (up 2.9%)
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Percent of List Price Received: 95.2% (down 1.1%)
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Housing Affordability Index: 83 (up 6.4%)
This is no longer the hyper-competitive 2021 market — but it’s also not a crash.
It’s a rebalancing.
Inventory Is Up — But Not Oversupplied
Inventory increased 6.8% year-over-year to nearly 13,000 homes. Months supply rose slightly to 3.6 months.
For context:
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Under 3 months = strong seller’s market
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4–6 months = balanced market
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6+ months = buyer’s market
We’re inching closer to balance — but we’re not there yet.
This means:
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Buyers have more options.
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Sellers face more competition.
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Pricing strategy matters more than ever.
Prices Are Still Rising (Just Slower)
The median price increased to $505,000, up 1.4% from last year.
That’s modest growth compared to pandemic-era spikes, but it’s still growth.
Meanwhile:
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Average sales price decreased 1.8% to $676,602.
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Sellers are receiving 95.2% of original list price, down from 96.3% last year.
Buyers have negotiating power again — but values are holding.
Homes Are Taking Longer to Sell
Days on market jumped from 69 to 80 days — a 15.9% increase.
This is one of the clearest indicators of shifting dynamics.
Sellers can no longer:
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Overprice and expect multiple offers
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Skip staging or prep work
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Ignore buyer concessions
Presentation, marketing, and pricing now directly impact outcomes.
Affordability Is Improving (Slightly)
The Housing Affordability Index rose from 78 to 83 — a 6.4% improvement.
Lower mortgage rates combined with slower price growth are helping some buyers re-enter the market.
That said, affordability is still tight compared to historical norms — especially along the Wasatch Front and in resort areas like Park City.
What This Means for Buyers
If you’re thinking about buying in 2026:
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More inventory means more leverage
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Fewer bidding wars
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Greater negotiation flexibility
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Seller concessions are returning
Home prices are not falling dramatically. Waiting for a major correction may not be the strategy people expect.
Smart buyers right now are:
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Negotiating rate buydowns
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Requesting closing cost credits
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Targeting homes that have been sitting longer
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Locking in before spring competition ramps up
What This Means for Sellers
If you’re planning to list:
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Price correctly from day one.
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Expect longer market times.
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Invest in preparation (staging, photography, strategy).
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Be ready for negotiation.
The market rewards well-positioned homes — and punishes overpriced ones.
Is 2026 a Good Year to Move?
Yes — but it’s no longer automatic.
This is a strategy-driven market.
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Investors can find opportunity in motivated listings.
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Buyers can negotiate.
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Sellers can still capture equity if priced correctly.
The key difference from prior years is that you need a plan.
Final Thoughts
The Utah housing market isn’t crashing. It’s normalizing.
Inventory is rising.
Days on market are increasing.
Price growth is slowing.
For the first time in years, we’re approaching something closer to balance.
If you’re watching the market closely — or trying to decide whether to buy, sell, refinance, or invest — this is the data that matters.
And if you want the full breakdown with context, strategy, and what we’re seeing locally across Northern Utah and the Wasatch Back, tune into this month’s MTN Buff Podcast episode.
In 2026, the opportunity isn’t gone — it’s just different.
Here is some of the data we reference in the podcast.
January 2025 | Housing Supply Overview
January 2025 | Monthly Indicators
January 2025 | Q4: Quarterly Activity
Here’s to a strong, informed start to 2026 — and to making smart real estate moves in the year ahead.
https://youtu.be/BusmTyR7fTU