Wasatch Front Quarterly Market Reports 2017 Year End Wasatch Front Market Report

UTAH COUNTY

Utah County is home to community-focused neighborhoods , high-tech companies , and entrepreneurial start-ups . Utah county includes Alpine , American Fork , Cedar Hills , Draper , Eagle Mountain , Elk Ridge , Highland , Lehi , Lindon , Mapleton , Orem , Payson , Pleasant Grove , Provo , Salem , Santaquin , Saratoga Springs , Spanish Fork , Springville , Woodland Hills .

$ SINGLE FAMILY HOMES

$ CONDOMINIUMS

Average and Median Sales Price Average and Median Sales Price

TOWN HOMES

Average and Median Sales Price

AVG MED

$ 100 K $ 200 K $ 300 K $ 400 K

5,104 UNITS $ 256 K $ 230 K

5,388 UNITS $ 238 K $ 272 K

6,274 UNITS $ 292 K $ 265 K

6,615 UNITS $ 314 K $ 284 K

6,503 UNITS $ 341 K $ 309 K

$ 100 K $ 200 K $ 300 K $ 400 K

523 UNITS $ 142 K $ 127 K

582 UNITS $ 141 K $ 131 K

781 UNITS $ 139 K $ 150 K

825 UNITS $ 158 K $ 152 K

1,036 UNITS $ 179 K $ 178 K

$ 100 K $ 200 K $ 300 K $ 400 K

886 UNITS $ 167 K $ 163 K

1,025 UNITS $ 184 K $ 179 K

1,239 UNITS $ 193 K $ 189 K

1,306 UNITS $ 211 K $ 206 K

1,491 UNITS $ 233 K $ 231 K

2013 2014 2015 2016 2017 2013 2014 2015 2016 2017

2013 2014 2015 2016 2017

2017 single family homes

2017 condominiums

2017 town homes

AVERAGE SALES PRICE

MEDIAN SALES PRICE

AVERAGE SALES PRICE

MEDIAN SALES PRICE

AVERAGE SALES PRICE

MEDIAN SALES PRICE

8 % 9 % 14 % 17 % 11 % 12 %

$ 340,746 $ 309,250 $ 179,463 $ 177,658 $ 233,151 $ 230,573

* Percentage change compared to the same time previous year i

Takeaway : From 2016 to 2017 , Utah County saw strong appreciation across all property types . However , similarly to Salt Lake County , Utah County saw an increase in the number of condominiums and town homes sold and a slight decrease in number of single family homes sold . Between affordability of single family homes , scarcity of vacant homesites , and an increase in first time home buyers , it ’ s not surprising that many buyers are turning to condominiums and town homes over single family homes .

YEAR END

2017

All statistics are based upon Wasatch Front Regional MLS data for the period of 1 / 1 / 17 to 12 / 31 / 17 .

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Wasatch Front Quarterly Market Reports 2017 Year End Wasatch Front Market Report | Page 5

8 % 9 % 14 % 17 % 11 % 12 %