Wasatch Back Quarterly Market Reports 2018 Q1 Wasatch Back Market Overview - Page 2

ABOUT THIS REPORT This comprehensive first quarter report provides an overview of the Summit and Wasatch County real estate market. We believe our clients should have access to information that facilitates thoughtful real estate decisions. The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, features, and amenities. For example, while Park Meadows and Upper Deer Valley share the same zip code, average home prices in these two neighborhoods vary significantly. COALVILLE HOYTSVILLE WANSHIP JEREMY RANCH SUMMIT PARK SNYDERVILLE BASIN GLENWILD SILVER CREEK EAST SUMMIT COUNTY PINEBROOK PROMONTORY KIMBALL SUNPEAK BEAR HOLLOW SILVER CREEK TRAILSIDE PARK SILVER SPRINGS PEOA OAKLEY OLD RANCH ROAD CANYONS PARK MEADOWS THAYNES CANYON QUINN’S JUNCTION THE RETREAT KAMAS VALLEY PROSPECTOR Vail Resorts® continued their commitment to Park City Mountain, focusing on upgrades throughout Canyons Village, and Deer Valley® Resort obtained the #1 Ski Resort ranking from Ski Magazine. We believe these factors and others will continue to drive our market. Throughout the Wasatch Back the market remains stable in number of properties sold with an approximate 9% increase in median price across all property types. Summit and Wasatch counties and the surrounding areas provide numerous buying opportunities especially in the Heber Valley, Jordanelle, and East Summit County neighborhoods. Data interpretation, judgment, and historical context are key elements to making informed decisions: Contact your Utah Properties agent for guidance on navigating our marketplace. HIDEOUT CANYON OLD TOWN AERIE LOWER DEER VALLEY KAMAS FRANCIS WOODLAND TUHAYE PARK CITY LIMITS JORDANELLE DEER CREST UPPER DEER VALLEY VICTORY RANCH EMPIRE PASS RIVER VIEW Stephen C. Roney Chief Executive Officer & Owner Berkshire Hathaway HomeServices Utah Properties HEBER VALLEY MIDWAY CHARLESTON HEBER DANIEL TIMBERLAKES All statistics are based upon the Park City Board of Realtors® MLS data for the period of 4/1/2017 to 3/31/2018.* *Please note small sample size in some instances. PROVO CANYON *Data as of 4/1/2018 For all data, we have used median sales price and 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 believe it’s important to use both median and average in order to give a holistic view of the market.