Your neighbor’s house has had a sign in the yard since July. Mortgage rates just crossed 7%. So you start to wonder whether your home is quietly worth less than it was in the spring.
Fair question. The August numbers tell a more specific story than the headlines. Some counties dipped, one rose, and asking prices moved more than sale prices.
Short answer: Mostly no. Utah’s statewide median sale price was $525,000 in August 2026, down just 0.4% from a year earlier, while closed sales fell 13.5%. Davis, Weber and Tooele counties dipped, Utah County rose 4.3%, and asking prices are softening faster than sale prices.
Are Utah home prices dropping right now?
Not in any meaningful way statewide. The Utah Association of REALTORS reported a median sale price of $525,000 in August 2026, compared with $527,250 in August 2025. That’s a 0.4% dip.
What dropped was activity. Pending sales fell 21.6% to 3,223 and closed sales fell 13.5% to 3,651. Homie’s September 2026 market analysis of that UAR data found the August slowdown was most evident in transaction volume, while the median price was nearly unchanged.
The longer view is steady too. The Kem C. Gardner Policy Institute reported on September 9, 2026 that Utah’s median sale price rose from $500,000 in the first quarter of 2025 to $520,000 a year later.
Which Utah counties saw home prices fall in August 2026?
Davis, Weber and Tooele counties posted lower median sale prices in August 2026, Salt Lake County held flat, and Utah County rose. Here’s the county pulse from Homie’s September 2026 market analysis of UAR data:
| County | Closed sales, Aug 2026 (YoY) | Median sale price | Price YoY |
|---|---|---|---|
| Utah | 736 (-21.9%) | $524,000 | +4.3% |
| Salt Lake | 987 (-13.9%) | $555,000 | Approx. flat |
| Davis | 310 (-12.7%) | $523,000 | -4.0% |
| Weber | 287 (-14.6%) | $441,000 | -1.3% |
| Tooele | 93 (-15.5%) | $468,700 | -3.4% |
Every county sold fewer homes. Check each one in UAR’s Local Market Updates for Salt Lake, Utah, Davis, Weber and Tooele counties.
Why did Utah County prices rise while Davis County fell?
Supply is the clearest difference. Utah County’s inventory barely grew in August 2026, up 0.9% to 3,396 homes, while Davis County’s jumped 12.0% to 1,150, according to UAR. More competing listings gave Davis buyers more room to push back.
Davis homes took 55 days to sell, up from 45, and sellers got 96.4% of original list price, down from 97.0%. Utah County sellers got 96.7%, up from 96.1%.
One caution: a single month’s median can swing on which homes happened to close, and Davis had just 310 sales. Treat the -4.0% as a flag, not a trend.
Why are Utah home sales falling faster than prices?
Because most Utah sellers aren’t under pressure to sell cheap. When buyers step back, owners who don’t have to move tend to wait rather than slash, so fewer homes change hands at roughly the same prices.
Gardner’s September 2026 report found average equity among Utah homes with a mortgage hit a record of about $304,570 in the first quarter of 2026. That cushion means few need a fire sale. The adjustment shows up as longer listings instead: statewide days until sale rose to 65 in August, from 63.
Our take: prices aren’t falling so much as sales are. That’s a volume problem, and it shows up in your price only if you price for last spring.
What’s the difference between asking price and sale price?
Asking price is what sellers list for. Sale price is what buyers actually pay at closing. Right now the asking side is softening faster.
Realtor.com data on FRED puts the Salt Lake City metro’s median ASKING price at $567,000 in August 2026, down from $583,000 in August 2025, about 2.7% lower. It’s roughly 11% below the May 2022 peak of $637,500. In the Provo-Orem metro, the median asking price slipped to $564,325 from $574,900, about 1.8%.
Meanwhile, Utah County’s median SALE price rose 4.3%. They measure different homes. Listings include everything still unsold, often the overpriced ones. Sales count only homes a buyer agreed to pay for. More on value numbers in our guide to the CMA vs appraisal vs Zestimate.
Are Salt Lake sellers cutting prices?
Yes, a lot of them. Realtor.com counted 1,996 Salt Lake City metro listings with a price reduction in August 2026, about 53% of the 3,756 active listings.
Those 3,756 active listings are the most in the metro’s active listing count since the series began in July 2016. The twist: a year earlier, 1,940 of 3,387 listings had a cut, about 57%. Cuts aren’t new. What’s new is how many homes compete for each buyer.
Are home prices dropping in St. George and Washington County?
A little. UAR’s Washington County Local Market Update shows an August 2026 median sale price of $512,495, down 3.3% from $530,000. The year-to-date median was $525,000, exactly where it was through August 2025.
Unlike the Wasatch Front, closed sales there fell only 5.6%, to 374, and pending sales ticked up 0.8%. Supply is looser, at 5.5 months.
Will 7% mortgage rates push Utah home prices lower?
Nobody can say yet, because the August price data came before rates jumped. Freddie Mac reported the 30-year fixed at 7.03% on September 24, 2026, up from 6.30% a year earlier.
Most August closings came from contracts signed earlier in the summer, when the weekly average ran between 6.43% and 6.69% from July through mid-August, per Freddie Mac’s series on FRED. Higher rates shrink what buyers can borrow, which tends to show up first in fewer sales. A loan officer can run your own payment numbers.
Is Utah a buyer’s market now?
It’s closer to balanced than it has been in years, but not a clear buyer’s market. UAR reported 4.6 months of supply statewide in August 2026, up from 4.5. A common rule of thumb calls about six months balanced.
County supply ranged from 3.9 months in Davis to 4.5 in Weber and Tooele and 5.5 in Washington. Price band matters more. Homie’s September 2026 analysis of UAR data shows 3.9 months of supply for homes from $250,000 to $499,999, versus 6.5 months at $1.5 million and above.
What does this mean for your home’s value?
Your home is probably worth about what similar homes near you sold for this summer, not what they listed for in the spring. Homie’s September 2026 analysis of its Utah sales found homes priced right at launch sold in about 34 days, versus about 101 days after a later reduction, and 53% of solds needed a cut. Those are historical baselines, not a fresh September reading.
If you’re sizing up your number, work through it in this order:
- Closed sales nearby, last 90 days. They carry the most weight because a buyer actually paid them.
- Pending sales. Recent contracts show where buyers are landing right now.
- Your competition. Active listings near your price and how long they’ve sat.
- Online estimates. Useful as a rough range. Least reliable of the four.
A free Homie home value report pulls those comps together for your address. For property tax questions, your county assessor is the right call.
When will the next Utah home price data come out?
Mid-October. That’s when UAR typically posts its September reports, the first to show sales from contracts signed after rates climbed toward 7%. Freddie Mac updates rates every Thursday. For a wider look at the fall slowdown, read Is the Utah Market Cooling Off? Sort Of.
Quick answers
Are Utah home prices going down in 2026?
Only slightly, and not everywhere. Utah’s statewide median sale price was $525,000 in August 2026, down 0.4% from a year earlier, per the Utah Association of REALTORS. Year-to-date medians through August were up 5.0% in Utah County and 2.0% in Salt Lake County, and down 0.8% in Davis County. Sales volume fell much more than prices.
Is a Utah housing crash coming?
The August 2026 data doesn’t look like one. Statewide prices were nearly flat, supply sat at 4.6 months, and sellers still received 95.9% of their original list price on average, per UAR. Record homeowner equity, reported by the Gardner Policy Institute, means few owners are forced to sell. Nobody can promise where prices go next, especially with rates above 7%.
Which Utah county had the biggest price drop in August 2026?
Among the Wasatch Front counties in Homie’s September 2026 analysis of UAR data, Davis County fell the most: its median sale price dropped 4.0% to $523,000. Tooele County followed at -3.4% and Weber County at -1.3%. Washington County, home to St. George, fell 3.3% to $512,495. Utah County rose 4.3% to $524,000.
Should I wait for prices to drop before buying in Utah?
Waiting is a bet, not a plan. August 2026 prices barely moved statewide, while rates rose to 7.03% by late September. A small price dip can be wiped out by a higher rate. What buyers do have now is more choice: 17,274 homes for sale statewide in August. A loan officer can compare payments at today’s rates for you.
How do I find out what my Utah home is worth?
Start with recent closed sales of similar homes near you, since those reflect what buyers actually paid. An agent’s comparative market analysis (CMA) pulls those comps and adjusts for condition and features. A licensed appraiser gives the formal opinion of value lenders use. A free home value report is a quick first step.
The bottom line
Utah home prices mostly held in August 2026. Sales didn’t. Davis, Weber and Tooele counties dipped, Utah County climbed, and asking prices in the Salt Lake and Provo metros are coming down to meet what buyers will pay. If you price off this summer’s closings instead of last spring’s hopes, the slowdown matters a lot less to your number.
Curious where your home lands? Get a free home value report from a local Homie agent, built on real sales near you. Prefer to talk it through first? Browse our agent directory. Whether you’re buying, selling, or doing both, Homie has your back.
— The Homie Team
*Examples are for illustrative purposes only. This article is general information, not legal, tax, lending or insurance advice.
*Market data from the Utah Association of REALTORS (Monthly Indicators and Local Market Updates, August 2026), Homie’s September 2026 market analysis of UAR data, Realtor.com via FRED (August 2026), the Kem C. Gardner Policy Institute (September 2026) and Freddie Mac (September 2026). All data obtained from sources deemed reliable but not verified. Information not guaranteed.