Wasatch Back Quarterly Market Reports 2019 Q1 Wasatch Back Market Report | Page 6

HEBER VALLEY Open space and farmland encompass the scenic Heber Valley. This area features remarkable views of Mount Timpanogos and countless recreational opportunities. The Heber Valley includes the neighborhoods of Midway, Charleston, Provo Canyon, Heber, Daniel, and Timberlakes. avg med avg 2015 med 2016 2019 single family homes AVERAGE SALES PRICE 6% 17% $696,008 avg med 2017 avg med 2018 2019 single family homes MEDIAN SALES PRICE 8% $534,000 avg med 0 2019 2019 condos/town homes MEDIAN SALES PRICE 5% $264,500 avg med 2015 avg med avg med 2016 2017 2019 vacant land AVERAGE 0 50 K 100 K 100 K 150 K 200 K 250 K 300 K Average and Median Sales Price 200 K 300 K 400 K 500 K 600 K 350 K 700 K 400 K 800 K VACANT LAND UNITS $ Average and Median Sales Price SINGLE FAMILY HOMES $250 $ avg med med avg med 2018 2019 vacant land MEDIAN SALES PRICE SALES PRICE 20% 25% $309,604 2019 $249,000 *Percentage change compared to the same time previous year, rolling 12 month format. Please note small sample size in some instances. i Takeaway: Current inventory throughout the Heber Valley remains constrained as construction lags. Midway saw a 15% decrease in the number of single family homes sold in the past 12 months, however, the average sales price increased 10%. The median sales price increased 32% reflecting more high-end property sales in the Midway area. Additionally, vacant land sales throughout the Heber Valley remain consistent from the same time in the previous year despite a significant increase in both average and median sales price. FIRST QTR 2019 All statistics are based upon Park City Board of Realtors MLS data for the period of 4/1/18 to 3/31/19. © 2019 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed.