Market Update - Q2 2014 Wasatch Back Market Update
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Bacon Brothers


  • The market remains highly segmented and complex
  • The median price of single family homes has continued to gradually increase and is up 4%
  • The median price of condominiums remains constant
  • There has been tremendous interest in vacant land, and lot sales have increased by as much as 78% in some marketplaces when compared to second quarter of last year
  • There has been a 5% increase in inventory when compared to last year
  • We have experienced a 9% increase in total sales volume when compared to second quarter of last year
  • Average sales price is also up 9% from last year


Distressed Sales: We are recovered. 

Distressed sales represent a small 2% of our market. We are back to '06 levels. While we still have some hurdles to cross, our market has recovered and remains stable.

Area Spotlight: Promontory

Victory for vacant land.

Promontory has seen tremendous activity this past quarter, particularly with regards to vacant land. 32 lots sold: a 78% increase from second quarter of last year.

empire pass

Area Spotlight: Empire Pass

In demand.

Empire Pass has seen an 118% increase in units sold and an 143% increase in volume sold when compared to last year. With these latest statistics, Empire Pass has proved to be one of Park City's most robust sub-markets.

Utah's Marketplace: Only good news.

According to the National Association of Realtors, the Utah state government and business community have propelled Utah onto the world economic stage. As a result, Utah’s exports tripled between 2005 and 2012 to $16.1 billion and the state grabbed a nice share of foreign direct investment flowing into the U.S. For four years running (2010–2013), Forbes has crowned Utah the best state in the nation for business.

Posted by Berkshire Hathaway HomeServices Utah Properties on
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