Wasatch Back Quarterly Market Reports 2019 Year End

ABOUT THIS REPORT This comprehensive 2019 annual 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. The Ikon and Epic ski passes continue to bring new visitors to our amazing part of the country. Vail Resorts remains committed to Park City Mountain, focusing on upgrades throughout Canyons Village. We believe these and other 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 with the continued growth around the Jordanelle and into the Heber Valley. COALVILLE HOYTSVILLE WANSHIP JEREMY RANCH SUMMIT PARK 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 KAMAS VALLEY THE RETREAT PROSPECTOR HIDEOUT CANYON OLD TOWN AERIE LOWER DEER VALLEY TUHAYE PARK CITY LIMITS KAMAS FRANCIS WOODLAND JORDANELLE DEER CREST UPPER DEER VALLEY VICTORY RANCH EMPIRE PASS RIVER VIEW As we launch into 2020, economists and business professionals are debating if we will see a downturn in our economy. While a correction is inevitable, we believe real estate will not lead the way as it did in 2008. The cause of that correction 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. Current positive indicators for real estate include: 1. Near historical low interest rates 2. Relative global “safety” in US investments 3. The strength of Utah’s economy and population growth 4. Generally constrained inventory Real estate remains a very local business. Data interpretation, judgement and historical context are key elements to making informed real estate 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 1/1/19 to 12/31/19.* PROVO CANYON *Data as of 1/6/2020 *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 Year End | Page 2