Wasatch Back Quarterly Market Reports 2019 Q3 Wasatch Back Market Report

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. These markets remain highly segmented. Our town, its neighborhoods and outlying areas differ significantly in terms of price, home type, home condition, features, and amenities. COALVILLE HOYTSVILLE WANSHIP JEREMY RANCH SUMMIT PARK As we progress through 2019, economists and business professionals are debating the timing of the next recession. While a correction is inevitable, we believe real estate will not lead the way as it did in the Great Recession of 2008. The cause of that recession was a bubble in the housing market created by lack of discipline and oversight in the mortgage industry. Historically, housing does quite well in lower interest rate environments. SNYDERVILLE BASIN GLENWILD SILVER CREEK EAST SUMMIT COUNTY PINEBROOK PROMONTORY KIMBALL SUNPEAK BEAR HOLLOW SILVER CREEK TRAILSIDE SILVER PARK SPRINGS PEOA OAKLEY OLD RANCH ROAD CANYONS PARK MEADOWS THAYNES CANYON QUINN’S JUNCTION THE RETREAT KAMAS VALLEY PROSPECTOR 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 Current positive indicators for real estate include: 1. Tighter mortgage underwriting standards 2. Near historical low interest rates 3. Relative global “safety” in US investments 4. The strength of Utah’s economy and population growth 5. Generally constrained inventory Real estate remains a very local business. Data interpretation, judgement and historical context are key elements to making informed decisions. Contact your Berkshire Hathaway HomeServices Utah Properties agent for guidance on navigating our complex micro-markets. HEBER VALLEY MIDWAY CHARLESTON HEBER DANIEL TIMBERLAKES Stephen C. Roney Chief Executive Officer & Owner Berkshire Hathaway HomeServices Utah Properties All statistics are based upon the Park City Board of Realtors® MLS data for the period of 10/1/18 to 9/30/19.* PROVO CANYON *Data as of 10/1/2019 *Please note small sample size in some instances. 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.

Wasatch Back Quarterly Market Reports 2019 Q3 Wasatch Back Market Report | Page 2