Published September 20, 2026 in Market Update

More than 66% of Draper homes for sale have already cut their price

By Listing Leads

Real estate, Draper 84020

Something shifted in Draper this summer. In the spring, the typical home found a buyer in 15 days and sellers got 99.2% of what they first asked. By August, the typical home was sitting 67 days before it sold, and sellers were getting 94% of what they first asked. That is not a small move. I pulled every listing in the 84020 zip code through September 13, 2026.

Homes that waited longer gave up real money

The numbers by how long a home sat are the clearest way to see what waiting costs. The typical home that sold in the first month got 100% of what it first asked. The typical sale price was $815,000.

Homes that took two months to sell got 94.9% of what they first asked. The typical sale price dropped to $742,500. Homes that took three months got 94%. Homes that took four months got 92.3%. The longer a home sat, the more the seller gave back. That pattern held at every price point.

And it is not just a price cut. Fifty-two homes came off the market with no sale at all. They never found a buyer. The typical first price on those homes was $859,950. The typical first price on homes that did sell was $819,900. The homes that gave up started $40,050 higher than the ones that sold.

That is not a small group. Of the 171 homes for sale in Draper right now, 113 have already lowered what they are asking. The typical cut is $50,000. The biggest single cut on any one home is $385,000, on Somerset Ridge Drive. All told, sellers have cut $8,251,024 from their prices so far.

At the pace homes have been selling lately, it would take 3.9 months to sell every home for sale right now. That sits just under the four-month line where the market starts to tip toward buyers.

Not every price range is in the same spot. Homes that first asked under $600K gave up at the highest rate: 23.9% of that group came off the market with no sale. The $600K to $750K range and the $750K to $1M range each saw 12.1% give up. Above $1M, the rate climbs again: 20% in the $1M to $1.4M range, and 21.3% above $1.4M. If you are in the middle of the market, your odds of finding a buyer are better. If you are at the low end or the high end, the first price you set matters even more.

The size of the home tells a similar story. Homes between 3,500 and 5,000 square feet had the most homes give up: 17. They also sat the longest of any size group, with a typical 27 days on the market. Smaller homes, under 1,500 square feet, had only one give up, and the typical home sold in 18 days. Bigger is not always harder to sell, but it is harder to price.

What this means if you are selling or buying right now

If you are selling, the first price you set matters more than it did in the spring. In May, the typical seller got 100% of what they first asked. That is no longer true across the board. Homes that sat into August got 94% of their first price. In Suncrest, one home on Silkwood Court sat 94 days and sold for $736,100 after starting at $795,000. A similar-sized home on Aspen Grove Court, also in Suncrest, was priced at $815,000 and sold in 7 days at $815,000. Same neighborhood. Very different outcomes. The price you pick on day one is the thing that decides which path you are on.

If you are buying, the shift is real but not dramatic. Sellers are cutting prices and paying money back at closing. In this market, 51.5% of sellers paid money back to the buyer, with a typical amount of $9,500. The last home that sold more than 3% over its asking price went under contract on June 8, on Pepi Band Road. In the 97 days since, 86 lived-in homes went under contract and none of them sparked that kind of competition. You have more room to negotiate than buyers did in the spring, but homes priced well are still moving.