Housing prices in the valley are on the rise

The home sales graph generated by the Wasatch Front MLS is out for the 2nd quarter of 2018.

The green line shows the homes listed.

The black line shows the homes sold.

The blue line shows the median sold price.

This graph shows the previous 5 years for Heber City, Charleston, and Midway.

There were 301 homes listed for sale in the 2nd quarter; April, May and June. There is usually a large jump in inventory every 2nd quarter and this year was no different.  

There were 185 homes sold in the 2nd quarter this year. The black line is following the usual shape. In the previous 5 years there have been more homes sold in the 3rd quarter than the 2nd. Hearing the housing forecasts and real estate market data, I think we can expect the same trend this year.

The median price of homes sold in the 2nd quarter this year was $469,000. This is down a little bit from the 1st quarter because there was more inventory available during the 2nd quarter so the prices were able to decrease a little. As the blue line keeps its general trend upwards as housing prices in the valley continue to climb, it is evident that many people are discovering the wonders of this community and the thriving economy in Utah and moving into the Heber Valley or upgrading their homes. We are experiencing a strong housing market and will probably continue to do so.

I find the statistics of the real estate market fascinating and there is so much information to glean from this graph. If you have any questions and would like to discuss this graph or if you have any other real estate concerns, I would love to talk with you. Give me a call. 801 631-3430

P.S. If you found this interesting, you might like Utah's Prosperity Scorecard stats here.

Brought to you by Heath @ HeathsHomes.com