Salt Lake County home sales fell 5.2% from June to July, and pending sales plunged 14.7% over the same stretch, signaling that the housing slowdown is hitting Holladay sellers hard and raising questions about how long Cottonwood Heights can buck the trend.

Year-over-year, closed sales were up slightly and pending activity was roughly flat, meaning the drop is a month-over-month story rather than a year-over-year collapse. But the pace matters for local sellers watching homes sit longer.

Holladay: fewer sales, longer waits

Just 16 homes closed in Holladay in July, down from 39 a year earlier, according to MLS data compiled by Best Utah Real Estate. The median sale price hit $1,070,000, though that figure reflects a tiny sample and likely mix shift rather than broad appreciation. Homes that did sell spent a median 38 days on market, 20 days longer than July 2025, and closed at 97% of list price.

Unsold inventory stood at 146 homes with a median asking price of $813,900, down 16.2% from a year ago. Sellers are cutting prices even as closed-sale figures remain elevated.

Cottonwood Heights: mixed signals

Cottonwood Heights remains in seller's-market territory. Salt Lake Realty Group's August snapshot showed 2.36 months of supply overall and just 2.05 months for single-family homes. But the luxury segment above $1 million is softer: 49 listings, 21 under contract and 3.26 months of supply.

Movoto market data updated Aug. 9 pegged the median sale price at $949,000, with 121 active listings and 28 homes carrying price reductions.

National backdrop

Nationally, Redfin data released Wednesday, Aug. 12 showed 285,312 closed sales in July, down 4.1% from June and the lowest monthly total since September 2024. The average 30-year mortgage rate climbed to 6.54%, a one-year high, and 14% of sale agreements fell through before closing, the highest share since 2023.

As we reported July 22, Salt Lake County's median single-family price hit a record $645,000 in the second quarter. The new volume data suggests that price ceiling is now pushing buyers to the sidelines.

County-wide, homes spent a median 51 days on market in July, up 4.1% year over year, with 3.1 months of inventory, per a Joel Carson market report updated Aug. 5.

The next comparable data release, covering August closed sales, is expected in mid-September.