Is Salt Lake City, UT 84116 a buyer’s or seller’s market?

The Salt Lake City housing market right now

In the three months ending August 31, 2026, 32% of homes in Salt Lake City, UT 84116 sold above their list price, the typical home went under contract in 31 days and there were 4.7 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 42 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (30% then), homes sold more slowly (25 days then) and the median sale price rose 11% to $479,792. Overall, Salt Lake City is about as competitive as it was a year ago.

Within Salt Lake County, homes here sell faster than in 74% of the county’s ZIP codes, and sell more often over asking than in 94%. On our competition score, Salt Lake City ranks #7 of 110 UT ZIP codes with enough sales (score 57 out of 100).

Nearby, buyers who want less competition could look at Bingham Canyon 84006 (0% sold over asking) or Salt Lake City 84111 (4% sold over asking).