What "slow" looks like right now

Homes are still selling, just slower. In Davis County, pending sales in September 2026 were down 32.8% from September 2025, and the number of homes for sale was up 13.6%, according to the Utah Association of Realtors' September 2026 report (MLS data). Months of supply went from 3.5 to 4.0. Salt Lake County looked similar: pending sales down 28.6%, supply up to 4.2 months.

Rates are part of it. Freddie Mac's weekly survey had the average 30-year fixed at 7.24% on October 29, 2026, compared with 6.17% a year earlier. On a $475,000 loan, that's roughly $337 more a month in principal and interest.

Why starting high usually backfires

I know it's tempting to start high and see what happens. You can always come down, right? The problem is that a listing usually gets the most attention in its first couple of weeks, when it's new to every buyer and agent watching the area. If it's priced above the homes around it, buyers compare and move on.

Then the days on market start to pile up, and buyers begin to wonder what's wrong with it. By the time you reduce, you're negotiating from a weaker spot. Chasing the market down is how a lot of homes end up selling for less than they would have at the right price on day one.

Two sets of eyes on your price

I look at price the way an appraiser would (what recent sales can justify on paper) and the way a buyer would (what else they could buy this weekend for the same money). Both matter. A buyer touring three other homes isn't going to pay extra just because you need it.

Utah is a non-disclosure state, so online estimates can miss by a lot (more on that in why Zillow can be wrong).

Price and concessions go together

In a slower market, many buyers will ask for help with closing costs or a rate buydown. That comes out of your proceeds, so it belongs in the pricing conversation from the start.

I think it's smart to decide ahead of time what you'd be willing to offer, and whether you'd rather offer it up front or hold it for negotiation. I wrote more about that in seller concessions and rate buydowns.

A quick example

Example only, with made-up numbers: say recent sales point to about $560,000, and you list at $589,000 to leave room. Showings are light, and after five weeks you drop to $565,000. You've carried an extra month or more of payments, and buyers now see a reduced listing. Starting near $560,000 guarantees nothing, but it puts you in front of your best buyers while the listing is fresh.

What I'd actually recommend

Start with a real market analysis, not an online estimate. Look hard at what's sold lately and at what's sitting unsold, because the homes that haven't sold show you what buyers are saying no to. Then price close to that number and give it two or three weeks. If showings are slow, I'd take that seriously.

I could be wrong on any one home, pricing is never an exact science. And this is your home and your decision. Sometimes holding firm is the right call, especially if you don't have to move. I'll just give you my honest read on where the price should be, even when it's not the number you were hoping for.

Quick answers

Should I price low to start a bidding war?

In a slower market I wouldn't count on it. Pricing right at market value makes sense, but pricing well under it usually only works when several buyers are competing at once.

When should I reduce my price?

There's no fixed rule. If you've had few showings or no offers after two or three weeks, that's usually a sign the price is above what buyers will pay.

Do Utah's median sale prices include seller concessions?

No. The Utah Association of Realtors notes that its median sale prices don't account for seller concessions, so sellers' actual net can be lower than the headline number.

Sources: Utah Association of Realtors: Davis County, September 2026, Utah Association of Realtors: Salt Lake County, September 2026, Freddie Mac Primary Mortgage Market Survey

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