First-time buyers in Farmington

Farmington by the numbers

Median list price

$749,900

Median sale price

$668,750

Price per sq ft

$259

Active listings

97

Median days on market

44 days

List price, year over year

-3.9%

Source: Realtor.com Economic Research — data as of June 2026. Citywide medians describe the whole market, not any one home.

First-time buyer questions, answered

How much do I need for a down payment in Farmington, Utah?

Less than most first-time buyers assume. Conventional loans start around 3% down, FHA at 3.5%, and VA and USDA can reach 0% for buyers who qualify. The bigger constraint is usually cash reserves and closing costs, not the down payment itself. Talk to a lender before you assume you're years away — plenty of buyers I work with were closer than they thought.

What credit score do I need to buy my first home?

FHA financing generally opens up in the low-to-mid 500s with a larger down payment and the high 500s with the minimum. Conventional loans usually want 620 or better, and the pricing improves meaningfully as you climb toward 740. A lender can often name two or three specific actions that move your score in 30–60 days.

Does it cost me anything to use a buyer's agent?

Buyer agency compensation is negotiable and spelled out in a written agreement before we tour anything. In some transactions the seller contributes to it, in others it's negotiated into the deal. Either way you'll see the number in writing up front — no surprises at closing. I'll walk you through the agreement line by line before you sign it.

What's the difference between pre-qualified and pre-approved?

Pre-qualification is an estimate based on what you tell a lender. Pre-approval means they've actually reviewed income, assets, and credit. In Farmington, listing agents take pre-approval seriously and largely ignore pre-qualification. Get pre-approved before your first showing — offers move fast here and a weak letter loses ties.

What does a starter home in Farmington actually cost?

Farmington is one of the pricier Davis County cities, so the entry point here is usually a townhome, a condo, or an older single-family home on a smaller lot rather than a new build. If your budget is tight, look at Layton and parts of Clearfield and Syracuse for the same square footage at a lower number. I'll send current, real numbers rather than a stale range.

New construction or resale for a first purchase?

New construction gives you warranty coverage, modern efficiency, and sometimes builder incentives on rate. Resale gives you mature landscaping, established neighborhoods, and a price that already reflects what the home is. First-time buyers often do better on resale in the established parts of town — but the incentives on a slow-selling new phase can flip that math.

Is a home inspection worth it on my first purchase?

Always. It's the cheapest information you'll buy in the whole transaction. In Utah's due-diligence period you can inspect, ask for repairs, negotiate a credit, or walk. Skipping it to look competitive is the single most expensive mistake I see first-time buyers make.

What closing costs should I budget for?

Plan on roughly 2–4% of the purchase price for lender fees, title, appraisal, recording, and prepaid taxes and insurance, plus your earnest money and inspection paid earlier. Seller concessions are negotiable and often used to cover part of that or to buy down your rate. Your lender's loan estimate is the real number — I'll review it with you.

How long does buying a first home take?

From pre-approval to keys, most buyers land in the 45–75 day range: a few weeks of touring, then roughly 30–45 days from accepted offer to closing. Cash purchases close faster; unusual financing or appraisal issues can stretch it. The part you control is having financing lined up before you start looking.

Can I buy with student loan debt?

Frequently, yes. Lenders look at your overall debt-to-income ratio, not the existence of student loans, and income-driven payment plans are usually counted at the payment amount rather than the balance. Get a lender to run the numbers rather than disqualifying yourself on principle.

What is the median home price in Farmington, Utah right now?

As of June 2026, the median list price in Farmington is $749,900 and the median closed sale price is $668,750, or about $259 per square foot (source: Realtor.com Economic Research). Your own number depends on the pocket you're in and the condition of the home — I'll run the comparable sales for your address.

How long do homes take to sell in Farmington, Utah?

In June 2026 the median Farmington home went under contract in 44 days, with 97 homes active on the market (source: Realtor.com Economic Research). Well-priced, well-prepared homes move a lot faster than that median; overpriced ones sit well past it.