Current home values in Utah

Home values have been rising throughout Utah and are up 1.7% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $816,622, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Utah: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $816,622 home at 3.33% would give a typical Utah homebuyer a monthly payment of $2,872, assuming a 20% down payment.

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How the Utah housing market stacks up

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Older couples can take a day trip to go hiking in Utah

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Utah, they're predicted to rise 3.7%.

Homes right now are going on the market in Utah at a median price of $174 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Utah home prices over the last 10 years

Year Avg. Price
2020* $353,639
2019 $347,588
2018 $319,550
2017 $284,017
2016 $259,425
2015 $240,783
2014 $229,200
2013 $213,167
2012 $197,442
2011 $199,000
2010 $214,767
2009 $231,858

*2020 price average through March 31, 2020.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in Utah is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $435,620
2019 $597,500
2018 $550,000
2017 $492,500
2016 $445,000
2015 $410,000
2014 $392,500
2013 $375,000
2012 $342,500
2011 $345,000
2010 $375,000
2009 $395,000

*2020 price average through March 31, 2020.

Get peace-of-mind on your home insurance

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