May 2025 MLS Market Update
Utah MLS Market Update May 2025
The real estate market in Utah continues to show resilience and steady activity as we move through 2025. Whether you’re considering buying or selling in Park City, Salt Lake City, or surrounding areas, understanding the latest MLS statistics is crucial to making informed decisions.
Key Highlights for May 2025
- Median Days on Market: 33 days (steady from last month)
- Total Homes Sold: 3,784 (up 1.6% year-over-year)
- Single Family Homes: 2,781
- Multi-Family Homes: 1,003
- Median Price per Square Foot: $237
- Median Sold Price:
- Single Family: $575,000 (unchanged from last May)
- Condo/Townhome: Down 4.8% compared to last May
- Residential Inventory:
- 2025 Listings Entered: 6,149
- 2024 Listings Entered: 5,704
Market Overview
The Utah housing market keeps a consistent pace with median days on market holding steady at 33 days. This indicates a brisk market where homes are selling quickly. The slight increase in total homes sold (+1.6%) reflects growing buyer confidence and demand.
Inventory growth is also notable, with over 6,100 new listings entered so far this year, marking an increase compared to 2024. This expanded inventory provides buyers with more options, potentially balancing the market dynamics.
“A stable median days on market combined with rising sales and inventory suggests a healthy market environment ripe for both buyers and sellers,” says local real estate expert.
Price Insights
- The median price per square foot sits at $237, a key metric for evaluating property value across neighborhoods.
- Single-family homes maintain their median sold price at $575,000, signaling pricing stability.
- Condo and townhome prices have softened slightly with a 4.8% decrease year-over-year, which could create attractive opportunities for entry-level buyers or investors.
Why This Matters for Your Utah Home Search
If you’re exploring homes in Park City, Salt Lake City, or nearby communities:
- Sellers can expect their properties to sell quickly given the steady days on market.
- Buyers will benefit from increased inventory and a slight dip in condo/townhome prices.
- The stable pricing in single-family homes provides predictability for budgeting.
What’s Next?
As summer approaches, the Utah real estate market is poised for continued activity. For personalized insights tailored to your neighborhood or property type, contact us for FREE detailed home and market reports or contact one of our local experts.
Summary: Utah MLS Market Snapshot May 2025
| Metric | May 2025 | Change from Last Year |
|---|---|---|
| Median Days on Market | 33 days | No change |
| Total Homes Sold | 3,784 | +1.6% |
| Single Family Sold | 2,781 | |
| Multi-Family Sold | 1,003 | |
| Median Price per Sq Ft | $237 | |
| Median Sold Price (Single Family) | $575,000 | No change |
| Median Sold Price (Condo/Townhome) | $400,000 | -4.8% |
| Residential Inventory (Listings Entered) | 6,149 (2025) | +7.8% vs. 2024 |
For more detailed Utah real estate insights and the latest listings, visit UtahDigs.com.
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