Utah Housing Market Update - February 16 2026
Utah’s housing market update for February 16, 2026 shows increasing buyer activity paired with moderate downward pricing pressure. Last week, 470 homes sold and 5,133 homes went under contract — both up from the previous week, signaling strengthening demand. Meanwhile, the average list price dropped to $656,130, down roughly $40,000 week-over-week, and the average sold price came in at $643,479, leaving a $12,651 negotiation gap in buyers’ favor. The median sold price fell to $489,450, the lowest seen in some time, reflecting early-year price adjustments. Interest rates remain stable at 6.04%, supporting affordability and fueling activity. Sellers who price ahead of the market’s downward trend are selling faster, while overpricing leads to longer days on market. Buyers have more leverage than in recent months, but properly priced homes are still drawing competition. As always, hyper-local data remains the key to making confident real estate decisions in Utah.
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