Wasatch Back Quarterly Market Reports 2017 Q2 Wasatch Back Market Report

ABOUT THIS REPORT PARK CITY LIMITS This comprehensive midyear market report provides an overview of Summit and Wasatch County real estate. We The heart of Park City spans from the world-class Deer Valley Resort® to the iconic white barn, McPolin Farm. Park City Proper believe our clients should have access to information includes the neighborhoods: Old Town, Thaynes Canyon, Deer Valley, Aeire, Prospector, and Park Meadows. that facilitates thoughtful real estate decisions. The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ signiﬁcantly in canyons park meadows thaynes canyon quinn’s junction stability in total number of properties sold as well as in kamas valley deer crest Q2 2013 hideout canyon KAMAS FRANCIS WOODLAND tuhaye JORDANELLE upper deer valley Data interpretation, judgment, and historical context are AVERAGE key elements to making informed decisions: Contact your SALES PRICE agent for guidance on navigating our marketplace. victory ranch empire pass 15.37% river view $2,286,981 Stephen C. Roney provo canyon *Data as of 7/1/2017 heber daniel Q2 2015 ave med Q2 2016 ave med 0 Q2 2017 ave med Q2 2013 ave med Q2 2014 ave med ave med ave med ave med Q2 2015 Q2 2016 Q2 2017 Q2 2017 single family home MEDIAN SALES PRICE 14.29% $1,800,000 Q2 2017 vacant land AVERAGE SALES PRICE 0.70% $752,250 Q2 2017 condo/townhome AVERAGE SALES PRICE Q2 2017 condo/townhome MEDIAN SALES PRICE 7.20% $1,044,816 2.67% $730,000 *Percentage change compared to the same time previous year Chairman, CEO & Owner Berkshire Hathaway HomeServices Utah Properties HEBER VALLEY midway charleston med Q2 2014 Q2 2017 single family home prospector PARK CITY LIMITS 200 K ave average and median sale price. the retreat old town aerie lower deer valley med 0 ave 400 K 300 K last year, across the Wasatch Back the market is seeing PEOA OAKLEY old ranch road demand signiﬁcantly. Overall, compared to this time 600 K silver creek trailside park 600 K 800 K silver springs rise mildly, we do not see this trend inﬂuencing buyer 1 .0 M sunpeak bear hollow 900 K 1 .2 M kimball 1 .2 M 1 .5 M Average and Median Sales Price promontory 1 .4 M to come to market in 2017/2018 in the Jordanelle, Heber, Finally, while we expect mortgage rates will continue to EAST SUMMIT COUNTY pinebrook 2. 1 M CONDOMINIUM & TOWNHOME summit park SNYDERVILLE BASIN glenwild silver creek 1 .6 M 1 .8 M especially in Park City proper residential neighborhoods. jeremy ranch 2.4 M Our predictions: We expect additional new developments and Canyons areas. Inventory will remain low in many areas, $ Average and Median Sales Price neighborhoods vary significantly. SINGLE FAMILY HOME the same zip code, average home prices in these two $ example, while Deer Valley and Prospector areas share terms of price, home type, features, and amenities. For coalville hoytsville wanship timberlakes i All statistics are based upon the Park City Board of Realtors® MLS data for the period of 4/1/2017 to 6/30/2017.* For all data, we have used a median sales price and an average sales price. The median is the middle point of all prices—half the sales are less than the median and half the sales are more. The average is all the property prices added together and then divided by the number of properties. The difference between the median and the average is that the median is not as affected by outlying very large or very small sale numbers, whereas the average can be skewed significantly by one very high or very low sales price. We feel it’s important to use both median and average in order to give a holistic view of the market. Takeaway: Throughout Park City Proper the market is stable in quantity of properties sold with a marked increase in price for single family homes compared to this time last year. Notably, the Park Meadows neighborhood saw a 40% increase in number of single family homes sold and an approximate 20% increase in median price. Q2 17 All statistics are based upon Park City Board of Realtors MLS data for the period of 4/1/17 to 6/30/17. © 2017 BHH Affiliates, LLC. An independentwperated 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.

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