I’m in Utah, and while a lot of markets around the country seem to be heating back up, we’re still very much in a buyer’s market here. Plenty of homes are sitting without selling, and buyers have more leverage than we’ve seen in years. Curious — are you seeing your markets shift back toward sellers, or are buyers still holding the upper hand where you are?
Good to hear what’s happening in Utah. I’m right next door in Idaho, specifically in the Treasure Valley, and our market has shifted noticeably over the past several months. We’re no longer in a “highest and best” frenzy. Instead, conditions are leaning more toward a buyer’s market.
Since January, inventory has more than doubled. In Ada County alone, active listings have climbed from 588 in January to 1,372 in July, pushing months of supply from 1.2 to 2.8. Average days on market have held fairly steady, ticking up slightly from 34 to 35 days.
(Note: these figures reflect existing homes only, not new construction.)
Of course, these are county-wide numbers — each city and price point tells its own story. But overall, sellers are becoming more realistic. Concessions are back on the table, and flexibility is often required to get deals done. Well-priced properties still move quickly, sometimes within just a few days, while overpriced listings sit longer.
For investors, this shift means more negotiation room, better terms, and opportunities to secure properties without bidding wars.