Utah Multi-Units Taking 61 Days to Sell, an 8-Year High

This week's numbers come from UtahRealEstate.com year-to-date reports that go back to 2019. Every year covers the same stretch, January 1 through November 10, so each year lines up with the others.

Multi-unit properties that sold this year spent a median 61 days on the market, up from 37 days last year. That's the longest of the eight years in the report. In 2021 it was 11 days.

The time on market ran 63 days in the first quarter, 55 in the second and 70 in the third. In the third quarter of 2025 it was 44 days.

The median multi-unit sale price per square foot is $233, down 3.2% from $241 last year. It's 6.9% below the 2024 figure of $250 and now sits under 2022's $235. It's still 13.5% above 2021, when it was $205.

The median sale price fell 4.7% to $665,000 from $697,450. New listings asked a median $750,000, down 3.2% from $775,000. Those are list prices, not closed sales.

Utah closed 411 multi-unit sales through November 10, down 4.9% from 432 last year and less than half of the 854 sold in 2021. Only 2023 was lower, at 393.

New listings rose 4.6% to 1,016, the most since 2021. That works out to 40 sales for every 100 new listings, down from 44 last year and 73 in 2021.

New listings have slowed this fall. Since October 1 there have been 95, compared with 137 over the same weeks last year.

Single-family sales total 33,343, down 2.1% from 34,057. Detached homes sold 24,713, up 98 from last year, and their median price rose 0.7% to $579,000. Townhomes and condos sold 802 fewer than last year.

Condo sales fell 10.1% to 2,578, the fewest of the eight years, and the median condo price fell 3.2% to $334,000. Townhome sales fell 8.3% to 5,639, with the median price down 1.2% to $422,000. Twin homes sold 413, down 2.4%, at a median $461,000.

Single-family homes took a median 42 days to sell, up from 39 and the longest of the eight years. New listings rose 0.5% to 52,683, the most since 2020. Since October 1, new listings are down 17.0% to 5,141 from 6,192.

The Bottom Line

Multi-unit properties are taking a median 61 days to sell, the longest since at least 2019, and price per square foot fell for the second year in a row to $233. Multi-unit sales are down 4.9% while new listings are up 4.6%. Single-family sales are down 2.1%, with detached homes flat and condo and townhome sales down 10.1% and 8.3%.

_{Single-family includes homes, townhomes, twin homes, and condos.}

_{Data sourced from UtahRealEstate.com (WFRMLS) year-to-date comparison reports for multi-unit and single-family property, statewide, generated November 11, 2026. Each year covers January 1 through November 10. Fall new listings subtract the first three quarters from the year-to-date total. Multi-unit price per square foot from the UtahRealEstate.com API, closed sales of 2 or more units in Utah, pulled November 11, 2026. UtahInvestor.com analysis.}

Five multi-unit properties closed across Utah between November 3 and November 9. Prices ran from $285,000 to $700,000. Three were duplexes and two were triplexes. Two sold below their final asking price, two sold at asking and one sold $100 above. Days on market ran from 34 to 184, and three of the five had cut their price before selling. A Provo triplex built in 1964 sold for $700,000, or $266 per square foot, after 91 days on the market.

Mortgage rates ended the week where they started. The 30-year fixed is at 7.30%, the same as a week ago, after jumping 0.12 on Tuesday. It is down 0.18 from a month ago and still 0.96 above a year ago. The 15-year fixed is at 6.92%, FHA is at 6.89% and jumbo loans are at 7.40%. The 7/6 SOFR ARM rose 0.09 to 6.80%, which is 0.50 under the 30-year fixed.

The 10-year Treasury closed at 4.98% on November 10, up from 4.88% the day before and 4.95% a week earlier. The jump came the same day the government reported that consumer prices rose 0.4% in October, or 0.3% leaving out food and energy. Investor loans usually price 0.50 to 0.75 above the owner-occupied 30-year, which puts a rental purchase near 7.80% to 8.05% right now.

_{Source: Mortgage News Daily, rates as of November 10, 2026. 10-year Treasury yield from the U.S. Treasury daily yield curve. Inflation from the Bureau of Labor Statistics, October 2026 Consumer Price Index.}

Utah Headlines

Veritas Buys 257 Apartments in Ogden and Salt Lake City — Veritas Investments and capital partner Refound Residential bought three mid-rise buildings, the 148-unit View on 20th in Ogden plus 61-unit and 48-unit buildings in Salt Lake City, at an undisclosed price in deals brokered by Northmarq.

Salt Lake City Will Seek Developers for a 4.7-Acre Lot at the Old Smith's Ballpark — The city's redevelopment agency plans to ask for bids next year on the lot at 55 W. Paxton Ave., which is zoned for buildings up to 90 feet and sits in an opportunity zone (an area where investors can defer capital gains taxes), with construction possible around 2028.

Utah County Population Projected to Double to 1.54 Million by 2065 — The Kem C. Gardner Policy Institute says the county had 765,515 residents in 2025 and added 101,257 people from 2020 to 2025, about 38% of the state's growth.

Republicans Lose Their Two-Thirds Majority in the Utah House — The party lost 16 state House seats in the November 3 election, leaving it short of the 50 seats needed for a two-thirds supermajority, and legislative leaders listed affordable homeownership among their priorities.

National Headlines

Apartment Loan Delinquencies Climb to 8.09% — Trepp data show the late-payment rate on apartment loans packaged into commercial mortgage bonds rose 5 basis points to 8.09%, up from 7.12% a year ago, while loans sent to special servicing (handed off for a workout) jumped 68 basis points to 9.22%.

Salt Lake City Posts the Steepest Drop in Home Sales Among Large Metros — Zillow estimates Salt Lake City home sales fell 22.5% in October from a year earlier, as inventory rose 8.8% and typical rent rose 1.4% to $1,637.

Apartment Developer Confidence Falls 5 Points — The National Association of Home Builders' third-quarter index of apartment building conditions fell to 41, and its occupancy index fell to 69, both down 5 points from a year ago.

CoStar Raises Its 2027 Apartment Rent Forecast to 2.6% — CoStar now expects rents to grow 2.6% by the end of 2027, up from 1.9%, as new apartment deliveries fall 18% to 434,000 units this year and another 19% to about 352,000 next year.

Treasury Names 6,567 New Opportunity Zones — The new tax-break zones take effect January 1 and run through 2036, with fewer tracts than the 8,764 in the first round and a lower income cutoff of 70% of area median income.

Pretium Pays $49.7 Million to Settle Rental Fee Charges Brought by the FTC and Utah — Progress Residential, which manages more than 90,000 single-family rentals, must now advertise rents that include all required monthly fees under a settlement with the FTC and four states, including Utah, without admitting wrongdoing.

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