A Tale of Two Zip Codes: Same City, Different Markets

When people find out that I’m in real estate, the first question I usually get is, “What’s happening in the market?”

And everyone’s favorite response (sarcasm intended) is: “It depends.”

That answer can sound evasive, but it’s accurate. The housing market isn’t one single thing. It changes by state, by county, by city, and often by zip code, neighborhood, or even street.

South Jordan is a perfect example of why that matters.

Here’s a real snapshot using November MLS data and year-over-year comparisons.

At a high level, Utah is moving in a clear direction. Active listings are up about 19 percent year over year, while sold listings are down nearly 12 percent. Months of supply has climbed to 4.72 months, up from 3.49 last year. Prices per square foot are essentially flat at around $230, but homes are taking longer to sell, with median days on market increasing from 41 to 48.

Salt Lake County tells a similar, but slightly steadier story. Inventory is up more than 21 percent, sales are down about 11 percent, and months of supply has increased from 2.79 to 3.81 months. Prices per square foot are down roughly 3 percent, and median days on market have increased from 37 to 43 days.

That’s the backdrop.

Now let’s look at South Jordan.

Across the city as a whole, active listings are up nearly 39 percent year over year. Unlike the county and the state, sold listings are also up, increasing more than 11 percent. Months of supply sits at 4.22 months, up from 3.38. Prices per square foot are only slightly lower, down about 1.5 percent, and median days on market are unchanged at 59.

But South Jordan isn’t one market.

It’s two very different ones, divided almost cleanly by Bangerter Highway. Homes west of Bangerter fall into 84009, while homes east of Bangerter fall into 84095.

In 84009, west of Bangerter, active listings are up more than 36 percent year over year, while sales are flat. Months of supply has increased from 3.15 to 4.31 months. Prices per square foot are down slightly, about half a percent, and median days on market have increased from 65 to 67 days.

This side of South Jordan is giving buyers more options and more time. Sellers need to be more deliberate with pricing and presentation.

Just across Bangerter Highway, in 84095, the data flips.

Active listings are up nearly 48 percent, but sold listings are up more than 69 percent year over year. Months of supply has declined from 4.54 to 3.95 months. Prices per square foot are up more than 4 percent, and median days on market have dropped sharply, from 48 to 36 days.

Same city. Different sides of the same road. Very different outcomes.

This is why broad headlines and county-wide stats miss the mark. They don’t tell you which side of the city is absorbing inventory and which side is slowing down. They don’t tell you whether pricing power favors buyers or sellers on your street.

That’s what “it depends” actually means.

If you’re thinking about buying or selling in South Jordan, the zip code matters. And sometimes the street matters even more.

If you want to see how this looks for your specific area, that’s where the conversation becomes useful.