Wasatch Front Quarterly Market Reports 2018 Q2 Wasatch Front Market Report - Page 2

Q2 2018 WASATCH FRONT REAL ESTATE OVERVIEW ABOUT THIS REPORT This comprehensive second quarter market report provides an overview of the Wasatch Front real estate markets. We believe our clients should have access to information that facilitates thoughtful real estate decisions. The Wasatch Front markets remain strong with highly segmented areas. The various cities, their neighborhoods, and the outlying areas differ significantly in terms of price, home type, features, and amenities. These statistics cover entire counties and are general in nature. Our predictions: As strong demand and low inventory levels persist, we expect appreciation to continue, sales to remain strong, and a variety of development options to emerge across all sectors of the Wasatch Front. While we anticipate mortgage rates will continue to rise mildly, we also expect increased buyer activity, especially at or below median prices. With a strong regional economy on the Wasatch Front, we see no sign of a market downturn in the foreseeable future. Data interpretation, judgment, and historical context are key elements in making informed decisions: Contact your Berkshire Hathaway HomeServices Utah Properties agent for guidance on navigating the market. Stephen C. Roney Chief Executive Officer & Owner Berkshire Hathaway HomeServices Utah Properties *Data as of 7/1/2018 For all data, we have used a median sales price and an 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. Q2 18 All statistics are based upon Wasatch Front Regional MLS data for the period of 7/1/17 to 6/30/18. © 2018 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.