Wasatch Back Quarterly Market Reports 2019 Year End

HEBER VALLEY Open space and farmland encompass the scenic Heber Valley. This area features remarkable views of Mount Timpanogos and countless recreational opportunities. The Heber Valley includes the neighborhoods of Midway, Charleston, Provo Canyon, Heber, Daniel, and Timberlakes. 700 K 350 K 100 K 100 K 0 150 K 200 K 250 K K 300 K 200 K 300 K 400 K 500 K 600 K Average and Median Sales Price 400 K 800 K VACANT LAND $ Average and Median Sales Price SINGLE FAMILY HOMES $259 K $ 50 K avg med avg 2015 med 2016 avg med 2017 avg med 2018 avg med 0 2019 UNITS 241 357 335 325 323 2019 single family homes AVERAGE SALES PRICE 6% 3% $697,851 2019 single family homes MEDIAN SALES PRICE 4% $528,000 avg med 2015 avg med 2016 avg med 2017 avg med med 2018 avg med 2019 UNITS 145 155 175 167 105 2019 condos/townhomes MEDIAN SALES PRICE 5% $279,400 2019 vacant land AVERAGE SALES PRICE 15% $314,902 2019 vacant land MEDIAN SALES PRICE 9% $250,000 *Percentage change compared to the same time previous year, rolling 12 month format. Please note small sample size in some instances. i Takeaway: As the Mayflower development continues to take shape, we predict a positive impact on sales throughout Wasatch County. The Heber Valley continues to see a wide range of housing options, most notably with the launch of lots at Highlands directly above the U.V.U. campus. Red Ledges experienced a 23% increase in average sales price for single family homes and the development has caught the attention of luxury buyers interested in balanced amenities and a rural mountain feel. The number of condominiums sold in the area increased 71% over the past year with a substantial increase in stacked multi-level condos sold. Vacant land in the Heber Valley continues to experience constrained inventory with a 26% decrease in the number of lots sold. Residential lots in Red Ledges continue to gain interest resulting in a 14% increase in the average sales price of a dream homesite. YEAR END 2019 All statistics are based upon Park City Board of Realtors MLS data for the period of 1/1/19 to 12/31/19. © 2020 BHH Affiliates, LLC. An independently owned and operated 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.

Wasatch Back Quarterly Market Reports 2019 Year End | Page 6