Homes are sitting longer, inventory is rising, and pricing is adjusting. Here’s what the local market looks like right now.

Why are some Wasatch Front homes getting multiple offers while others sit for sixty days or more? If you are buying, selling, or investing right now, this question probably feels real.

Homes are selling every week, yet others stay on the market with little activity. The gap comes down to what the numbers show and how buyers respond to the current conditions.

What the data shows. Weekly market tracking along the Wasatch Front reveals clear shifts from last year.

  • Inventory is up. As of today, there are about 25% more homes on the market than this time last year, and it has stayed between 20% and 30% higher for roughly the last 60 days. Days on market have also increased. The average now runs at 60 days.
  • Interest rates add pressure. They have moved between 6% and 6.5% and are currently around 6.25%. Buyers know how that affects their payment, which shapes what they are willing to consider.

What’s causing homes to sit? More homes on the market means buyers have more options. Higher interest rates mean they are careful with their monthly payment. Because of this, overpriced homes are being skipped. Even when a home is a buyer’s favorite, they walk away if the price does not reflect today’s market conditions.

“Well-priced, market-ready homes are getting attention.”

Buyers are informed, understand their choices, and avoid properties priced based on expectations from one, three, or five years ago. The market and the terms are different today.

Why do some homes sell fast? Homes that are priced right and well-positioned are still getting multiple offers. When price, condition, and showability line up with what buyers expect, activity follows. Properties prepared correctly are going under contract. The homes that align with current market standards are the ones that move.

How a lower offer still won. A $900,000 property recently hit the market and received multiple offers. Representing the buyer, the submitted offer was $10,000 less than a stronger competing offer. The seller’s agent chose it anyway because of a long working relationship and trust that the deal would close.

The property was well priced, the value was clear, and the transaction moved forward. Both the buyer and seller were pleased with the outcome.

The market today is segmented. Price, presentation, and negotiation matter more than anything. Hundreds, even thousands, of homes are selling, but not every home listed will make it to the finish line. The well-priced ones that look right and meet today’s standards are getting attention.

If you are thinking about buying or selling, now is the time to review the right steps for this market. Just reach out. You can call me at (801) 285-0521 or email me at Justin@JustinUdy.com. Let’s go over the details so you can make the most of today’s opportunities.