Wasatch Back Quarterly Market Reports 2018 Q3 Wasatch Back Market Report - Page 2

ABOUT THIS REPORT This comprehensive third quarter report provides an overview of the Summit and Wasatch County real estate markets. We believe it’s important that our clients 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 and median 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 As Alterra has announced enhancements throughout Deer Valley® Resort (including the new Ikon Pass) and Vail Resorts® is continuing their commitment to Park City Mountain, focusing on upgrades throughout Canyons Village. We believe these factors will continue to drive our markets in a positive direction. Additionally, we anticipate significant activity in the Mayflower area over the coming years with positive benefits for our community. In the meantime, our clients continue to find numerous buying opportunities in Summit and Wasatch counties especially in the Heber Valley, Jordanelle, and East Summit County neighborhoods. Data interpretation, judgment, and historical context are key elements in 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 10/1/17 to 9/30/18.* *Please note small sample size in some instances. PROVO CANYON *Data as of 9/30/2018 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.