If you own a home in Lehi or are thinking about buying here, September's numbers give us a pretty good look at what buyers and sellers are dealing with right now.
90 homes closed in Lehi during September 2026, according to MLS data. The median sold price for a single family home was $717,000, while townhomes had a median sold price of $450,000.
But just like we have been seeing across Utah County, the sold price doesn't tell the whole story. About 61% of September closings included a reported seller concession, totaling more than $629,000. And here's the number I find most telling this month:
About 77% of Lehi homes sold below their original asking price.
Mortgage rates also climbed throughout September and have continued higher into October. So let's dig into what is actually happening.
Lehi September 2026 Housing Market at a Glance
- 90 total residential closings
- 66 single family homes sold, $717,000 median sold price
- 21 townhomes sold, $450,000 median sold price
- 52 days median market time overall
- $629,541 in reported seller concessions
- 61% of closings included a concession
- 77% sold below their original asking price
- 24% of September closings were homes built in 2025 or 2026
That combination is worth sitting with. A $717,000 single family median does not look like a weak housing market. But when more than three quarters of homes close below their original asking price, buyers are clearly pushing back on pricing.
What Changed Since August?
Lehi had 90 closings in September, in a similar range to August's 84 and down from 109 in both June and July.
The single family median rose from about $654,000 in August to $717,000 in September. Before reading that as a boom, it's worth knowing how Lehi's median works. Lehi has the widest price range of any city I track, from attainable townhomes to multi million dollar estates, so the median swings with the mix of what closes. September simply had more higher end homes close, which lifts the median without the typical home gaining that kind of value in a single month. That is exactly why I never hang a market read on one month's citywide number.
The more durable story is the one underneath: prices are holding, but buyers are negotiating hard, both on price and through concessions.
By Property Type
| Property Type | Sales | Median Price | Median $/SF | Median DOM |
|---|---|---|---|---|
| Single family | 66 | $717,000 | $229 | 60.5 days |
| Townhome | 21 | $450,000 | $192 | 42 days |
| Condo / Twin | 3 | small sample | — | — |
The gap between a $717,000 single family median and a $450,000 townhome median is Lehi's two market reality in one line. Townhomes also moved a bit faster, a 42 day median against 60.5 for single family.
Single Family Home Sales in Lehi
There were 66 single family home closings in Lehi during September. The median sold price was $717,000, the median days on market was approximately 60.5 days, and the median sold price per square foot was approximately $229.
That $717,000 median is useful for understanding the overall Lehi market, but it absolutely does not mean the typical home in every Lehi neighborhood is worth $717,000. Lehi has a huge range of housing: newer construction, established neighborhoods, townhomes, larger luxury homes, properties near Traverse Mountain, homes with bigger lots, basement apartments, finished and unfinished basements, and homes built decades apart. That's why the neighborhood numbers below matter so much.
Lehi Townhome Sales
There were 21 townhome closings during September at a median sold price of $450,000 and a median of about 42 days on market. Townhomes moved somewhat faster than single family homes based on September's median market time. But even within the townhome market, prices vary substantially depending on community, size, age, garage, HOA, and location, as the neighborhood section shows.
What About Condos?
Only 3 of Lehi's 90 September closings fell outside the single family and townhome categories. With such a small sample, I would not put much weight on a monthly condo median. When there are only a handful of transactions, one unusually expensive or inexpensive sale can dramatically move the number.
77% of Lehi Homes Sold Below Their Original Asking Price
This may be the most important statistic in September's report.
69 of the 90 homes that closed during September sold below their original list price. That's approximately 77% of all September closings.
That doesn't mean every seller took a huge price cut. It means the final sold price was below where the property originally entered the market. And that tells us something important: buyers are paying attention. Homes can still sell for strong prices, but sellers who start too aggressively tend to make adjustments before finding the market. That's a very different market from one where buyers routinely compete above asking just to get a house.
More Than $629,000 in Seller Concessions
Price reductions aren't the only place buyers negotiated. 55 of Lehi's 90 September closings included a reported seller concession. That's approximately 61% of all sales. Those concessions totaled approximately $629,541, with a median contribution around $8,486.
Seller concessions can be used for things like buyer closing costs or financing costs depending on the transaction and loan. This is why sold price alone doesn't tell the entire story. A home that closes at $700,000 with a significant seller contribution is a different transaction from a $700,000 sale where the seller contributes nothing.
How a concession can nudge the recorded price up
A concession is often built into the price rather than taken off it. Say a home would sell for $700,000 clean. A buyer short on closing cash might instead agree to pay $710,000 with the seller crediting $10,000 back at closing. The seller still nets $700,000, the buyer gets closing costs covered, but the recorded sale is $710,000.
Two things follow. The comps drift up, because the next appraisal and market analysis both see the higher number. And the buyer financed money they didn't keep, paying interest on it 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. The point is that the recorded price and the real net price aren't always the same number, which is one reason an automated valuation tool misreads this market, especially in a non disclosure state like Utah where sale prices aren't public record.
Mortgage Rates Climbed Throughout September
According to Freddie Mac, the national average 30 year fixed mortgage rate moved from 6.71% on September 3 to 6.76% on September 10, 6.95% on September 17, and 7.03% on September 24. Then on October 1, Freddie Mac reported an average of 7.28%, the highest since late 2023.
There is no getting around the fact that higher rates affect affordability. Even relatively small changes in rates can materially affect monthly payments and purchasing power.
But there is another side to the equation.
Higher Rates Can Create More Negotiating Opportunities
When rates rise, some buyers leave the market or decide to wait. That can mean less competition for the buyers who remain. And September's Lehi numbers show plenty of negotiation happening: 77% sold below original asking price, 61% included concessions, and more than $629,000 in concessions were reported during the month.
That doesn't mean higher rates are good for buyers. A higher rate can significantly increase the monthly payment. But buyers should look at the whole transaction, not just one number. What can you negotiate on price? Will the seller contribute toward closing costs? Could a concession go toward a mortgage rate buydown? Is a builder offering financing incentives? How much competition is there for that particular home? Those questions matter.
And if rates eventually fall enough in the future, refinancing may be an option for homeowners who qualify and for whom the numbers make sense. I would never buy a home assuming a future refinance has to happen, though. Nobody can guarantee where rates will go.
New Construction Is Part of Lehi's Market, But It Isn't Dominating It
Here's a real difference between Lehi and the rapidly developing communities farther west in Utah County. 22 of Lehi's 90 September closings were homes built in 2025 or 2026, about 24% of sales. So new construction matters in Lehi, but roughly three quarters of September's closed market was older homes. That means resale competition plays a much larger role in Lehi's numbers than in a market where most closings are brand new.
For sellers, nearby builder incentives still matter. If a buyer is comparing your resale home against a new home with financing incentives, closing cost assistance, or upgrades, that needs to be part of your pricing strategy. I broke that down in my guide on new construction vs. an existing home.
Lehi Home Sales by Neighborhood
This is where the numbers become much more useful. Lehi's citywide single family median was $717,000, but individual communities can look completely different.
I also separate single family homes from townhomes whenever possible. Combining a $750,000 single family home with a $400,000 townhome into one neighborhood median isn't useful to either homeowner. Utah is a non disclosure state, so I report aggregate neighborhood medians only, never individual addresses or sale prices, and only where there are enough sales to avoid identifying a specific home.
| Community | Property Type | Sales | Median Price | Median DOM |
|---|---|---|---|---|
| Holbrook Farms | Single Family | 5 | ~$503,300 | 102 |
| River Point | Single Family | 4 | ~$732,950 | 70 |
| Crossing at Traverse | Single Family | 2 | ~$821,500 | 41 |
| Canyon Point | Single Family | 2 | ~$1,090,000 | 22 |
| Hunters Grove | Single Family | 2 | ~$800,000 | 72 |
| Vistas at the Point | Townhome | 3 | ~$598,851 | 11 |
| Pilgrims Landing | Townhome | 3 | ~$365,000 | 37 |
| Inverness | Townhome | 2 | ~$550,000 | 23 |
Holbrook Farms
Holbrook Farms was one of the more active single family communities in September, with 5 closings at a median around $503,300. New construction and newer homes can influence its monthly statistics. With five transactions the median is useful, but I still wouldn't use $503,300 as an automatic valuation for another Holbrook Farms home. Size, lot, builder, floor plan, basement finish, garage, and upgrades still matter.
River Point
River Point recorded 4 single family closings at a median around $732,950, noticeably above Lehi's lower priced communities. With only four sales, be careful interpreting month to month changes, since one different home closing can move the median considerably at this sample size.
Pilgrims Landing
Pilgrims Landing had 3 townhome closings at a median of $365,000. This is a perfect example of why property type matters when talking about "Lehi home prices." A buyer looking at a Pilgrims Landing townhome is shopping in a very different price range than someone looking for a detached single family home elsewhere in Lehi.
Vistas at the Point
Vistas at the Point recorded 3 townhome closings at a median around $598,851, substantially higher than the overall Lehi townhome median of $450,000, and they moved fast at an 11 day median. That doesn't mean one community is "better" or that every townhome there is worth about $599,000. It shows how dramatically product, size, age, and location change the numbers even within the same city.
Other Lehi Communities
September also included single family sales in communities such as Canyon Point, Crossing at Traverse, Hunters Grove, Green, Ridge, Cold Spring Ranch, and Chappel Valley, plus townhome sales in The Exchange II and Willow Point, among others. Some had only one or two closings. When the sample is that small, I don't publish a number and call it the neighborhood's median. One sale isn't a trend, it's one transaction. If you want the numbers for your specific community, I can pull those directly from the MLS and prepare a private comparative market analysis.
Why Neighborhood Level Data Matters So Much in Lehi
If you remember only one thing from this report, I hope it's this: a citywide median is not a home valuation.
Lehi's September single family median was $717,000. But we had communities closing around the $500,000 range and others substantially higher. Those differences don't mean one neighborhood gained value and another lost it. The homes themselves are different, and some samples are small. Even two homes in the same neighborhood can be very different: square footage, lot size, finished versus unfinished basement, garage size, age, condition, views, upgrades, current competition, and nearby new construction incentives all move value. That's why I look at the actual comparable properties when determining what a home may realistically sell for.
What September Means for Lehi Buyers
Buyers have an unusual combination right now. Rates are high, but negotiating power is far more visible than in a hot, competitive market. When 77% of September sales close below their original asking price and 61% include concessions, I would look at the whole deal instead of assuming the list price is the end of the conversation.
That doesn't mean every seller will negotiate. A well priced home in a desirable location can still attract competition. But buyers should know what comparable homes actually sold for, understand current inventory, and work with their lender to decide whether negotiating price, closing costs, or financing assistance makes the biggest difference for them.
What September Means for Lehi Sellers
Homes are still selling. 90 residential properties closed during September, and the single family median held at $717,000. But September also tells sellers that buyers are price sensitive.
When 77% of closed properties sold below their original asking price, I wouldn't rely on a "start high and see what happens" strategy. The first few weeks of a listing matter most. Buyers can see the other homes available, they can see price reductions, and they may be comparing your home against builder incentives. The goal isn't to be the cheapest house. It's to understand where your home fits among the choices buyers have right now.
Frequently Asked Questions About the Lehi Housing Market
What was the median home price in Lehi in September 2026?
The median sold price for a single family home was $717,000, and for a townhome $450,000. These are MLS medians for homes that closed during September, not estimates of every home's value. The single family median rose from about $654,000 in August, largely because more higher end homes closed.
Is Lehi a buyer's or seller's market right now?
It depends on the price tier. Entry level townhomes moved faster, some under two weeks, which favors sellers. Larger single family homes took longer, with more negotiating room, which favors buyers. Overall, 77% of September sales closed below original asking and 61% included a concession.
Did home prices drop in Lehi?
No. The single family median actually rose in September. That increase is mostly a change in what sold, since Lehi spans attainable townhomes to multi million dollar estates and a month with more high end closings lifts the median.
How many homes sold in Lehi in September?
90 residential closings were reported in the MLS, including 66 single family homes and 21 townhomes, plus three properties in other residential categories.
How long are homes taking to sell in Lehi?
The overall September median was about 52 days. Single family homes had a median of about 60.5 days, while townhomes had a median of about 42 days.
Are Lehi homes selling below asking price?
About 77% of September closings sold below their original list price. That doesn't necessarily mean below the most recent asking price, since some properties had price reductions before receiving an offer. That's an important distinction.
Are mortgage rates above 7%?
Freddie Mac reported the national average 30 year fixed mortgage rate at 7.03% on September 24 and 7.28% on October 1, 2026, the highest since late 2023. Individual borrowers may receive higher or lower rates depending on loan, credit, down payment, and other factors. The PMMS is a national average, not a quote for a particular borrower.
How much is my Lehi home worth?
That depends on far more than the citywide median. Your neighborhood, square footage, lot, age, condition, basement, garage, upgrades, and current competition all materially affect value. A personalized comparative market analysis using current MLS data is much more useful than applying Lehi's $717,000 median to an individual property.
Related Reading
- Lehi Home Sales: August 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
This report is based on 90 residential closings reported through the MLS in Lehi, Utah, with sold dates from September 1 through September 30, 2026. The report uses aggregated MLS statistics rather than publishing identifiable individual sold properties. 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. Where a community is made up of several MLS phases, related phases are combined before reporting neighborhood numbers.
Seller concessions reflect concessions reported through the MLS and may include seller paid closing costs, financing considerations, or other reported credits. Days on market reflects MLS listing time and should be interpreted alongside property type and whether new construction is involved. Mortgage rate information comes from Freddie Mac's Primary Mortgage Market Survey and represents national averages rather than an individual rate quote.
A comparative market analysis is not an appraisal and should not be used as one. A formal appraisal can only be performed by a licensed appraiser.
Source: UtahRealEstate.com MLS sold data, Lehi residential closings, September 1 through September 30, 2026.