Inventory in Wasatch County has inched up, with active listings rising slightly from last month and sitting notably higher than a year ago. Months of supply is now 7.5, almost double last year’s level and well above Utah’s 5.4 months, reinforcing its status as a buyer’s market. At the same time, contract activity shows some momentum, as pending sales jumped more than 30 percent month over month and are up nearly 10 percent year over year.
Pricing is adjusting to these conditions. The typical home value has fallen nearly 12 percent from a year ago and dropped more than 8 percent just since August, even as the median list price is up about 9 percent year over year. Sellers are also seeing fewer bidding wars, with only a small share of homes closing above list price and the average sale-to-list ratio around 96 percent.
Homes are taking some time to move, with a median of 77 days on market that is similar to last year but longer than in midsummer. Despite that, off-market-in-two-weeks activity and the recent rise in homes sold show that well-positioned listings can still attract buyers. With Wasatch County’s prices trending down while inventory and contract flow shift, conditions can be nuanced. Agent Pronto can connect both buyers and sellers with an agent who understands these dynamics and can guide each step of the process.
