84 homes closed in Lehi during August 2026. That's every closed sale in the city, not just my listings, pulled from the MLS.
The median sale price was about $575,000, and single-family homes ran a median of about $654,000. The story that has defined Lehi all summer held again in August: this is really two markets sharing a zip code. Townhomes moved in under three weeks while larger single-family homes took more than twice as long. And as always, the negotiating showed up in concessions, with sellers handing back about $670,000 in a single month.
Here's the full breakdown, with how the numbers moved from June and July.
The Headline Numbers
- 84 closed sales in Lehi in August 2026 (down from 109 in both June and July, a lighter month)
- Median sale price, all types: about $575,000
- Median single-family price: about $654,000 (easing from $745,000 in June and $683,400 in July)
- Median days on market: 37 (down from 43 in July, a slightly faster month)
- Median price per square foot: about $227
- 33% of homes sold were built in 2025 or 2026. Lehi carries more resale than its neighbors
- 74% of closings included a seller-paid concession, with a median of about $10,000
- Sellers paid about $670,000 in concessions across the month
- 66% sold below their original list price, by a median of about 3.8%
- Sales ranged from the high $280,000s to nearly $2 million
A note on that single-family median. It has stepped down from $745,000 in June to $683,400 in July to about $654,000 in August. Before reading that as prices falling, it's worth knowing what drives Lehi's median: the mix of what sold. Lehi spans everything from attainable townhomes to multi-million-dollar estates, so in months where fewer high-end homes close, the median drops even when individual home values hold. August was a lighter month at the top, which pulls the median down. It's the same lesson Lehi's numbers teach every month: the citywide median tells you the mix, not what your specific home is worth.
By Property Type
Here's the two-market split in one table.
| Property Type | Sales | Median Price | Median $/SF | Median DOM |
|---|---|---|---|---|
| Single-family | 56 | $653,950 | $216 | 42 days |
| Townhome | 26 | $461,000 | $241 | 28 days |
| Condo | 2 | ~$308,000 | $244 | — |
Townhomes, at a $461,000 median, sold in a median of 28 days. Single-family homes, at about $654,000, took 42. When the entry point to a market is that much faster than the move-up tier, it tells you where buyer demand is concentrated: on what people can afford. Notice too that the price per square foot runs highest on the smallest homes, condos at $244 and townhomes at $241 against single-family at $216. That's normal. Smaller homes spread their fixed costs over fewer feet, which is why $/SF is a sanity check, not a pricing method.
What Changed Since July
A lighter, slightly faster month.
Volume eased. 84 sales in August, down from 109 in July and 109 in June. A quieter late-summer month.
The single-family median stepped down, mostly on mix. From $683,400 in July to about $654,000 in August. Fewer high-end homes closed, which pulls Lehi's wide-ranging median down without individual homes losing that kind of value.
Homes sold a touch faster. The median days on market improved from 43 in July to 37 in August.
Concessions held. 74% of sales included a seller-paid concession, right in line with July's 66% to 73% range. Still the defining feature of the market.
Lehi also remains the premium end of this area. Even with the median easing, its single-family median of about $654,000 in August sat well above Saratoga Springs (around $610,000) and Eagle Mountain (around $535,000) the same month, consistent with Lehi's Silicon Slopes buyer base.
The Two-Market Split
The single most useful thing to understand about Lehi is that a townhome and a custom home are not in the same market right now.
The entry level is moving. Townhomes closed in a median of 28 days in August, and the Inverness townhome pocket kept up its remarkable pace at around two weeks. Buyer demand at attainable price points is strong and fast.
The move-up and upper tiers are slower. Single-family homes took a median of 42 days, and the larger, higher-priced homes took longer than that. At the top of the market the buyer pool is smaller, so homes sit longer and come with more negotiating room, even in an active city.
If you take one thing from this report as a buyer or seller, it's this: figure out which tier you're in, and price and strategize to that tier, not to the citywide median.
The Concession Story
Two out of three Lehi sales in August, about 74%, included a seller-paid concession, money the seller credited the buyer at closing, usually to buy down the rate or cover closing costs. Add it up and Lehi sellers handed back about $670,000 in a single month.
A concession doesn't have to be closing costs or a rate buydown, either. Depending on the deal, it can cover repairs, a home warranty, HOA transfer fees, or a more flexible closing timeline. The common thread is that it's value the seller gives without touching the headline price.
How a concession can nudge the recorded price up
This mechanic is worth understanding, because it shapes what the next round of comps looks like.
A concession is often built into the price rather than taken off it. Say a home would sell for $500,000 clean. A buyer short on closing cash might instead agree to pay $510,000 with the seller crediting $10,000 back at closing. The seller still nets $500,000. The buyer gets their closing costs covered. But what got recorded is a $510,000 sale, not a $500,000 one.
Two things follow, and both land on you. The comps drift up, because the next appraisal and the next market analysis both see $510,000. And the buyer financed money they didn't keep, paying interest on that extra $10,000 for the life of the loan with a little less equity than the price tag suggests.
None of this is a trick. Concessions are fully disclosed to the lender and legal, and for a buyer who needs help with closing costs they can be what makes a purchase possible. The point is that the recorded price and the real net price aren't always the same number. It's also the cleanest reason an automated valuation tool misreads this market. It reads $510,000 and moves on, with no idea $10,000 came right back out at the closing table. In a non-disclosure state like Utah, where sale prices aren't even public record, that online estimate is working with even less.
Neighborhood by Neighborhood: Single-Family
Utah is a non-disclosure state, so I don't publish individual sale prices or addresses. These are neighborhood medians only, shown for neighborhoods with enough sales that no single home can be identified.
| Neighborhood | Sales | Median Price | Median DOM |
|---|---|---|---|
| River Point | 7 | ~$688,000 | 70 |
| Spring Ranch | 3 | ~$550,000 | 37 |
| Canyon Hills | 2 | ~$970,000 | 49 |
| Ridge | 2 | ~$610,000 | 62 |
| Holbrook Farms | 2 | ~$575,000 | 73 |
| Stonegate | 2 | ~$535,000 | 44 |
River Point was the busiest single-family neighborhood again, just as it was in June and July, with a 70-day median that reflects its larger homes and the smaller buyer pool at that size and price.
Canyon Hills carried the upper tier this month, with a median near $970,000, a reminder that Lehi's luxury segment stays active even in a lighter month.
Spring Ranch and Stonegate offered more attainable single-family options in the $500,000s and moved at a reasonable pace.
Neighborhood by Neighborhood: Townhomes
| Townhome Neighborhood | Sales | Median Price | Median DOM |
|---|---|---|---|
| Inverness | 10 | ~$545,000 | 17 |
| Inverness by D.R. Horton | 3 | ~$450,000 | 16 |
| Spring Ranch | 2 | ~$408,000 | 38 |
The Inverness townhome pocket was the engine of the fast market again in August, with 10 closings at a 17-day median. When a neighborhood turns that quickly on that much volume, it's the clearest signal in the city of where demand meets pricing.
The Smaller Neighborhoods
Many other Lehi neighborhoods had a sale or two in August, or closed without a subdivision listed in the MLS, spanning from attainable homes up into the luxury tier near $2 million. With only one or two sales each, reporting their prices would risk identifying a specific home in a non-disclosure state, so I've grouped them here.
If you want to know exactly what's happening in your specific neighborhood and tier, that's the kind of detailed, address-level picture I put together privately. It shouldn't live in a public blog post, but I'm always glad to walk you through it one on one.
What This Means If You're Selling
Know which tier you're in. A Lehi townhome and a Lehi custom home are not in the same market. Entry-level product is moving quickly. Larger, higher-priced homes are taking longer and need sharper pricing to compete. Price to your tier, not to the citywide median.
Price off sold homes, not active ones. Active listings show what other sellers hope to get. Sold homes show what buyers actually paid. In a non-disclosure state that sold data isn't public, which is exactly why a real comparative market analysis built from the MLS beats any website estimate.
Budget for the concession before you list. With about three in four sales including one, plan for a credit to come back out at closing.
Overpricing is the expensive mistake. 66% of homes sold below their original list price, by a median of about 3.8%. On a $654,000 home that's roughly $25,000, most of it from starting too high and correcting late.
What This Means If You're Buying
Match your strategy to the tier. The entry level moved fast in August, with townhomes closing in a median under three weeks and the Inverness pocket in about two. If you're shopping there, be ready to act. In the move-up and upper tiers, homes are sitting longer, which means more room to negotiate and less pressure to rush.
And ask what's available beyond the price. Nearly three out of four August buyers got a concession. If you're negotiating only on sticker price, you're pushing on the one lever a seller is least willing to move. Just don't let a high day count on a new build spook you, since builders list homes before they're finished.
Frequently Asked Questions
What was the median home price in Lehi in August 2026? The overall median across all property types was about $575,000. Single-family homes ran a median of about $654,000, townhomes $461,000, and condos about $308,000. The single-family median has eased from $745,000 in June and $683,400 in July, largely because fewer high-end homes closed, which shifts Lehi's wide-ranging median.
Is Lehi a buyer's or seller's market right now? It depends on the price tier. Entry-level townhomes moved fast in August, in a median under three weeks, which favors sellers. Larger single-family homes took longer and came with more negotiating room, which favors buyers. Overall, 74% of sales included a seller-paid concession.
Did home prices drop in Lehi? The single-family median stepped down to about $654,000, but that's mostly a change in what sold, not individual homes losing value. Lehi spans attainable townhomes to multi-million-dollar estates, so in a month with fewer high-end closings, the median falls even when values hold.
Why are Lehi homes more expensive than nearby cities? Lehi sits in the middle of Silicon Slopes and carries more of the higher-priced, move-up housing stock, which lifts the median. Even in August's lighter month, its single-family median stayed well above Saratoga Springs and Eagle Mountain.
How long are homes taking to sell in Lehi? The citywide median was 37 days in August, but that hides a real split. Townhomes sold in a median of 28 days while single-family homes took 42. New construction can also stretch the number, since builders often list before a home is finished.
What are seller concessions, and why do they matter? A concession is money or value the seller gives the buyer at closing, often a rate buydown or closing-cost credit, but it can also cover repairs, a home warranty, or HOA transfer fees. In August, Lehi sellers paid out about $670,000 in concessions, which is why sale price alone understates how much buyers actually gained.
How much is my Lehi home worth? That depends on your home's size, condition, location, and which tier of the market it sits in. A market report gives you the citywide picture, but a comparative market analysis on your specific home is the real answer. You can request a free home valuation and I'll put one together.
Related Reading
- Lehi Home Sales: July 2026 Market Report
- New Construction vs. an Existing Home in Utah County
- Is Buying a Home the Right Move in 2026? A Utah County Buyer's Guide
- What Adds Value to a Home in Saratoga Springs
About This Data
Figures come from the UtahRealEstate.com MLS and cover all 84 residential closings recorded in Lehi between August 1 and August 31, 2026, including single-family homes, townhomes, and condominiums. Medians are rounded. Utah is a non-disclosure state, meaning sale prices are not public record, so no individual addresses or sale prices are published here. Neighborhoods with too few sales to report without identifying a specific home, or with no subdivision listed in the MLS, are grouped rather than listed with pricing.
Days on market reflects MLS listing time and can overstate real market time on new construction, where listings are frequently posted before the home is complete.
A CMA is not an appraisal and should not be used as one. A formal appraisal can only be performed by a licensed appraiser.
Source: MLS sold data, Lehi, August 1-31, 2026 (84 residential closings).