Elk Ridge Housing Update: Prices Mixed, Inventory Tight
Elk Ridge, UT – March 24, 2026 – Home values remain elevated while recent sales show softer pricing and limited inventory.
Home prices in Elk Ridge are showing mixed signals this spring, with values elevated overall but recent sales trending lower year over year.
Top takeaways
- Zillow reports a typical home value of $723K, up 4.5% from a year ago (through Feb. 2026).
- Redfin shows a $585K median sale price in Jan. 2026, down 6.1% year over year.
- Inventory remains limited, with 11 homes listed at the end of February.
Market snapshot
Zillow’s Home Value Index places the typical Elk Ridge home at about $723,000 as of February 28, 2026, reflecting continued long-term appreciation. However, Redfin data for January shows a median sale price of $585,000, down 6.1% from a year earlier. Homes sold after a median 86 days on market, faster than last year, but the market is described as not very competitive.
Only three homes closed in January, underscoring how small shifts in activity can move local statistics. Sale-to-list ratios hover near 99%, suggesting most sellers are pricing close to market expectations.
What’s for sale
Active listings remain thin. Zillow reported 11 homes for sale at the end of February. Options typically include larger single-family homes, reflecting the city’s predominantly owner-occupied housing stock.
Land opportunities are also available. Recent listings show residential lots around one-third to nearly half an acre, offering custom-build potential in established subdivisions.
Development context
City planning documents indicate Elk Ridge has more than 200 approved building lots in subdivisions, along with additional lots of record. Permit activity has slowed from peak years earlier in the decade, pointing to steadier, moderate growth rather than rapid expansion.
Are you seeing more listings, price reductions, or new builds in your neighborhood this month?
Sources
https://www.zillow.com/home-values/11296/elk-ridge-ut/
https://www.redfin.com/city/5763/UT/Elk-Ridge/housing-market
https://www.landsearch.com/properties/320-e-ridgeview-dr-elk-ridge-ut-84651/5103502