Utah Real Estate Market Forecast: What to Expect in Q4 2025

Utah’s housing market continues to be one of the nation’s most dynamic and competitive. As we head into Q4 2025, understanding current trends and expert projections is vital—whether you’re buying, selling, or investing. This forecast dissects key market indicators and outlines what Utah real estate stakeholders should expect in the coming months.

1. Price Trends: Stabilization After the Boom

1. 2024 saw a moderation in price growth, with Utah’s median home price rising just 3.6%, hitting approximately $506,500 last quarter—down slightly from previous peaks of around $510,000
2. In major metro areas including Salt Lake, Provo-Orem, and St. George, prices remain among the top 10% nationally, placing them among the most expensive U.S. markets

Q4 2025 Outlook: Expect continued moderate price growth (2–4%), with more balance between buyers and sellers.

Population & Jobs: Still Growing, Still Demand

1. Utah’s population continues rising steadily—up from around 3.2 million to over 3.5 million—thanks to migration and strong birth rates
2. Job growth remains robust, especially in tech (Silicon Slopes), healthcare, and education. Employment growth for 2025 is projected at +1.7%, adding over 13,800 jobs in the Salt Lake metro alone

Why It Matters: Population and job momentum continue to anchor demand—rental or ownership—despite rising rates.

Housing Supply: Still Catching Up

1. Utah’s existing home supply rebounded to 18,385 listings in June 2025, representing a 20% year-over-year increase
2. Yet, new construction remains below demand. Utah recorded its lowest level of residential builds since 2016, approximately 21,966 units in 2024
3. In Salt Lake City, the pipeline for new multifamily construction has decreased by nearly 30%, but net absorption exceeded deliveries, indicating tight fundamentals persisting into Q4 2025

Market Impact: Supply growth is gradual, reducing upward pressure on prices but keeping buyers active.

Interest Rates: High Enough to Shape Behavior

1. Mortgage rates remain elevated in 2025, hovering in the 6.5–7.5% range nationally, dampening affordability and softening demand from price-sensitive buyers
2. The Fed hasn’t cut rates as quickly as expected, contributing to these higher borrowing costs

Buyer Insight: Increased interest rates are motivating more buyers to rent until rates stabilize or to focus on entry-level, lower-priced properties.

Submarket Spotlight: Salt Lake City to Park City

Salt Lake City

1. Ranked the 10th hottest housing market in the U.S. for 2025, thanks to high demand, low inventory, and better relative affordability compared to other Western metros—according to Zillow and Axios reporting
2. Office vacancy is down and the city is exploring loft conversions to add housing supply downtown

Provo–Orem

1. Now leads the nation in housing stock freshness, with median home age of just six years—the youngest among major metros
2. A construction boom is ongoing, tied to Utah County’s rapid growth and tech sector expansion.

Park City & Summit County

1. Prices remain stratospheric (average home price ~$2.37M), but nearby areas like Midway, Heber, and Kamas are rising fast with new luxury buildouts and more accessible pricing

What to Expect in Q4 2025: A Summary Table

What This Means for You

Buyers

1. Best Time: Late summer to fall offers more listings and negotiation leverage.
2. Strategy: Lean into lower-priced or newly built housing, especially in Utah County and secondary metros.
3. Watch: Affordability and job hubs like Silicon Slopes may shift demand.

Sellers

1. Timing is still strong, but inventory rise means pricing needs to remain competitive.
2. Value Proposition: Highlight features (e.g. walkability, schools) to justify premium pricing.

Investors

1. Opportunity in rentals: Even with price moderation, vacancy rates remain low. Salt Lake City Q4 multifamily rents projected to rise 2.5% by year-end, with 92.4% occupancy forecasted
2. Focus: Secondary markets like Provo and Park City suburbs have investor appeal—new construction yields and strong capital growth potential.

Are You Ready?

Ready to take advantage of Utah’s dynamic real estate market in Q4 2025? Whether you’re buying, selling, or investing, make your move backed by expert data and local insight.

What We Offer:

1. Custom zip-code market reports
2. Buyer and seller strategy sessions
3. Exclusive access to listings in high-growth Utah submarkets

Contact Wilde Real Estate today to schedule your free consultation and navigate Utah’s hottest housing trends with confidence.

References:

1. Zillow and Axios summary of Utah as one of the hottest housing markets in 2025 realestateinparkcity.com
2. Utah’s State of the State’s Housing Market report tracks supply, prices, and demographic trends Cloudfront
3. MMG Real Estate Advisors’ Salt Lake City rent and construction forecast for Q4 2025 mmgrea.com
4. Redfin data on Utah housing inventory and market metrics as of June 2025 redfin.com