Published November 1, 2026 in Market Update

Higher mortgage rates meet a market with more room to choose

By Connie Roller

Real estate, Primary market

Freddie Mac put the average 30-year fixed rate at 7.24% as of October 29, 2026. That is the number shaping every buying decision right now. For sellers, it means buyers are doing harder math before they make an offer. Pricing and preparation matter more than they did a year ago.

These numbers cover the three months ending August 31, 2026. That is the period the Real Estate Data Aggregator counted homes in each ZIP code across Salt Lake City, Sandy, Midvale and Draper.

More homes to choose from, almost everywhere

The National Association of Realtors counted 1.60 million homes for sale across the country in September 2026. That same trend is showing up right here. The Real Estate Data Aggregator counted inventory up 59% in ZIP 84117 compared with a year before. That is the biggest jump in this market. Buyers there have real room to look around.

More inventory does not mean everything is slow. The Real Estate Data Aggregator found 84121 at just 3.1 months of supply, with 48.9% of homes going under contract within two weeks of listing. That is the fastest pace in this market. Meanwhile, 84101 sat at 7.7 months of supply, the highest here.

How long homes are sitting, ZIP by ZIP

Not every home sat long. The Real Estate Data Aggregator showed 84117 actually moved 7 days faster than the same period in 2025, even with all that extra inventory. Pricing to the market can still get a home sold.

Months of supply across the market

Prices: some up, some down

The National Association of Realtors reported existing-home prices up 1.3% nationally in September 2026. Locally, it is a mixed picture. The Real Estate Data Aggregator counted the median sale price in 84117 down 22.6% from a year before, to $620,000. That is a meaningful drop. In the same period, 84111 rose 11.1% to $433,300, and 84108 rose 6.4% to $990,000.

Where homes still sell fast

Even with higher rates, some parts of this market are moving quickly. The Real Estate Data Aggregator found that in 84121, nearly half of all homes, 48.9%, went under contract within two weeks of listing. In 84115, 41.1% did the same. In 84104, 37% did. Those pockets are still competitive.

What sellers are actually getting

Across this market, most sellers are still getting close to their asking price. The Real Estate Data Aggregator put the sale-to-list ratio at 99.4% in 84104 and 99.2% in 84115. The lowest in this market was 84103 at 96.9%. Sellers who price well are not leaving much on the table.

The national picture, for context

Nationally, the National Association of Realtors counted 3.99 million existing-home sales in September 2026. Active inventory was up 8.0% year over year across the U.S., according to Realtor.com. The Salt Lake City area is seeing a bigger inventory jump than that in several ZIP codes, which means local buyers have more leverage here than in many other markets.

One more thing worth knowing: one street can read very differently from the whole ZIP code. The numbers above are a starting point, not the whole story for your home.