Real Estate Market Update June 2022

Page 1

All Available Inventory 2021 For Sale - Wasatch Back For Sale - Wasatch Front

11,885

971

9,704 749 613 8,189 7,334

8,208

502 6,218 5,627 4,507

4,277

4,292

3K

6,215

6,879

6,738

7,149

491 5,864

513 6,025

576 7,474

593 8,016

661 9,186

724 9,140

9,627 826

9,078 6,709

5,920

5,892 168 1,074

6,464

5,856 130 1,030

4,477 143 1,020

5,533

4,476 160 979

4,647

4K

867

7,954 820

7,798 782

7,542 868

6,513 873

6,575 960

1,080

6,919

8,080 1,030 5,730

5K

7,204

7,684

8,407

8,759

9,322

9,720

9,290

7,357

6K

7,806

8,313

8,719

9,917

11,141

11,687 2,110

2,216

11,700 2,077

11,239

11,698 2,071

2,117

11,675 2,173

9,743 2,156

10,562

10,067 2,086

7K

11,019

9K

867

8,690

1,220

10,022

1,386

10K

11,026

Available Inventory is increasing rapidly 10,763

1,596

1,668

12,507

13,254 1,663

13,646 1,528

13,087 1,395

12,596 1,482

11,174

11,595

For Sale - Eastern Utah

1,431

11K

1,497

1,508

11,905

1,484

13,513

For Sale - Southern Utah

12K

8K

2022

14,916 1,559

14,965 1,609

15,514 1,717

15,526 1,749

15,471 1,702

1,630

14,843 1,594

13,537

13,808

13K

2020

1,638

14K

1,655

15K

1,623

14,452

16K

15,478

2019

1,693 154

1,482 139

120 1,241

98 1,173

82 1,127

86 1,010

1,374 129

94 1,126

1,505 141

1,379 219

1,532

1,468 225

146

1,661 221

1,497

1,848 232

155

2,021 248

1,330

2,164 234

172

2,181 221

157 1,202

2,179 216

142 999

2,189 197

173 1,019

2,093 199

200 1,120

1,877

2,112

207

0K

2,230

1K

2,267

2K

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun "All Available Inventory" is the cumulative total number of units that were on the market for sale during the calendar month, as opposed to units remaining available for sale at month end. "Properties Sold" includes any property listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby's. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was compiled on July 10, 2022. Information not verifiable by Park City Board of Realtors®. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. "Eastern Utah" includes Emery, Grand, San Juan, and Wayne Counties. Data for Eastern Utah was not available before November 2019 for this chart. Prepared By Summit Sotheby's International Realty. ©MMXXI Sotheby's International Realty Affiliates, Inc. All Rights Reserved. Sotheby's International Realty® is a licensed trademark to Sotheby's International Realty Affiliates, Inc. An Equal Opportunity Company. Each Office Is Independently Owned And Operated. Copyright© Summit Sotheby's International Realty 2021.


Properties Sold 291

# Sold - Southern Utah

100 4,122

132 3,742 3,682

3,790

166

191

3,579

3,066 3,047 2,558

2,485

3,450 198

195

3,263 3,068

2,865

2,638

195

190 3,198

2,982

3,018

2,939

3,004 2,934

2,949 2,703

2,638

2,653

193

3,311

207

3,384

238

3,421

2,938

3,442

206

3,735

3,654

4,035

3,977

3,858

3,710

3,543

3,851

3,885

3,468

241

191

3,495 3,487

2,956

260

242

3,295

116

4,255

4,738

79

286

245

2,544

2,764 2,448

2,405

382

263

Number of properties sold is starting to decline

2,388

137

262

2,663

198

313

161

3,513

4,643

4,735

405

2,550

3,025

3,174

216

143

2,170

390

# Sold - Eastern Utah

3,941

216

191

130

333

3,484

172

# Sold - Wasatch Front

2,930

3,579

147

3,272

220

3,311

4,232

196

2022 # Sold - Wasatch Back

183

3,698

4,194 3,911

4,283 3,625

207

2021

5,149

2020

4,569

2019

2,697 2,821

2,681

2,419 2,250

2,060 1,960

1,915

1,965

1,945 1,818

1,733

321

310

397

497

563

469

503

525

425

435

425

431 29

Jan Feb Mar Apr May Jun

346

359

26

23

487 10

391

453

20

13

580 16

698

38

629

31

639

27

632

27

530 32

455 30

552 377

417

22

20

36

544 39

449

536

38

36

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

476 40

495 32

495 35

432

478

33

36

508 40

362

376

18

28

515

465

17

29

413

410

18

25

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

"All Available Inventory" is the cumulative total number of units that were on the market for sale during the calendar month, as opposed to units remaining available for sale at month end. "Properties Sold" includes any property listed as sold for the respective calendar month in the respective MLS, and is not restricted to properties sold by Summit Sotheby's. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was compiled on July 10, 2022. Information not verifiable by Park City Board of Realtors®. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. "Eastern Utah" includes Emery, Grand, San Juan, and Wayne Counties. Prepared By Summit Sotheby's International Realty. ©MMXXI Sotheby's International Realty Affiliates, Inc. All Rights Reserved. Sotheby's International Realty® is a licensed trademark to Sotheby's International Realty Affiliates, Inc. An Equal Opportunity Company. Each Office Is Independently Owned And Operated. Copyright© Summit Sotheby's International Realty 2021.


Months Supply of Inventory Statewide - Utah 2020

2021

2022

15.8

This results in the MSI increasing across the state

Wasatch Back

13.3

9.5 7.0

6.5

5.7 4.2 3.1

2.1

2.3

2.4

2.7

1.9

2.0

1.9

1.6

1.9

2.0

1.8

1.5

1.6

1.9

1.4

1.1

1.7

1.3

1.9

1.7

2.4

3.4

2.2

Wasatch Front

2.0 1.7

1.9

1.7 1.4 1.2

1.1

1.1

1.2 1.0

1.0

1.0

1.0

0.9

0.9

0.9 0.6

3.9 3.5

1.1

1.2

1.3 1.1

0.9

1.0

1.0

0.9

0.9

0.7

1.0 0.8

3.7

3.5

Southern Utah

3.1 2.4 1.8 1.5

Jan

Feb

Mar

Apr

May

Jun

Jul

1.3

Aug

1.5 1.2

Sep

1.1

Oct

1.3

1.2 0.9

Nov

Dec

Jan

0.8 Feb

0.7 Mar

1.4

1.6

1.8

2.0

2.2 1.9

1.7

1.6

1.7 1.4

1.3

1.3

Feb

Mar

0.8 Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Apr

May

Jun

Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not verifiable by the Park City Board of Realtors.


Months Supply of Inventory Wasatch Back, Utah 2020

2021

2022

Wasatch Back

15.8 13.3 9.5 7.0

6.5

5.7 4.2

17.2

3.1

2.1

2.3

2.4

2.7

1.9

2.0

1.9

1.6

1.9

2.0

1.8

1.5

1.6

1.9

1.4

1.1

1.7

1.3

1.9

1.7

2.4

3.4

17.1

Park City

15.1

10.3 8.2

7.0 5.6 3.1

2.5

2.4

2.9

3.7

3.8 2.0

2.2

1.9

2.8

2.5

2.2

2.1

3.4 1.1

1.5

1.3

1.6

1.7

1.7

1.8

3.7

1.5

14.2 11.2 8.8 4.9

6.2 3.7 2.2

2.5

2.4

2.2

2.7

Oct

8.5

Sep

Snyderville

17.6

2.0

1.2

2.1

1.9

1.8

2.2

1.9

1.9

1.6

2.3

1.8

1.6

1.6

1.9

1.7

2.3

3.4 1.9

2.0

10.6 7.7 5.6

1.6

2.5

Jun

2.1

3.3

May

1.2

Apr

2.2

Mar

Jul

2.0

Feb

Jun

2.3

Jan

May

2.1

3.0

Dec

1.4

Nov

1.6

Oct

1.7

Sep

1.3

Aug

1.2

Apr

2.2

Feb

1.6 Jan

2.3

Dec

3.3

Nov

1.6 Aug

2.2

Jul

Jun

May

Apr

Mar

Feb

3.3

Mar

4.9 3.0

Jan

Heber / Midway

14.9

Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not verifiable by the Park City Board of Realtors.


Months Supply of Inventory Wasatch Front, Utah 2020

2021

2022

Wasatch Front

2.2 2.0 1.7

1.9

1.7 1.4 1.2

1.1

1.1

1.2 1.0

1.0

1.0

1.0

0.9

0.9

0.9 0.6

1.1

1.2

1.3 1.1

0.9

1.0

1.0

0.9

0.9

0.7

1.0 0.8

Davis County

2.0 1.6 1.3

1.3

1.3

1.2 1.0

0.9

0.8

0.8

0.8

0.7

0.8

0.7

0.7

Salt Lake County

0.5 1.8 1.5

0.6

0.6

0.6

0.8

0.6

0.8

0.8

0.8

0.7

0.8

0.5 1.9

1.8

1.5 1.3 1.1

1.1

1.0

1.0

1.0

1.0

0.9

0.9

1.0

0.9 0.6

2.5

Utah County

0.9

0.8

0.7

2.1

0.7

0.6

0.9

1.0

0.9

0.9

0.7

1.0 0.8

0.8

0.7

0.7 2.6

2.5

2.0 1.7

1.7 1.4

1.3

1.2

1.2

1.1

1.2

1.4

1.3

1.2 1.0 0.8

Jan

1.1

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

0.7 Mar

0.8

0.8

0.8

Apr

May

Jun

1.2

1.1

1.2

1.2 1.0

0.9

Jul

Aug

Sep

Oct

1.4

Nov

Dec

Jan

1.0

Feb

Mar

Apr

May

Jun

Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not verifiable by the Park City Board of Realtors.


Months Supply of Inventory Southern Utah 2020 3.9

2021

2022

3.7

Southern Utah

3.5

2.4 2.0 1.8 1.5

1.3

1.5 1.2

1.1

1.3

1.2 0.9

0.8

0.7

1.4

1.6

1.8

2.2 1.9

1.7

1.6

1.7 1.4

1.3

1.3

0.8

4.1

St George

3.1 2.6 2.2 1.6

1.6

1.7 1.4

1.4 1.1

1.3

0.9

0.8

0.8

0.6

0.8

1.0

1.2

1.9

1.9

1.9 1.6

1.3

1.3

1.2

1.2

1.1

1.3

Ivins

4.4

2.6 2.1 1.7

2.0

1.9 1.6

1.4 1.1

1.6 1.1

1.5 1.0

Jun

May

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Apr

0.7 Mar

0.8 Feb

Dec

Oct

0.8 Jan

1.2

1.0

Sep

Aug

Jul

Jun

May

Apr

Mar

1.0

1.9

1.8

Jun

1.5 1.1

1.6

May

1.9

Nov

1.8

Months Supply of Inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Data is aggregated from three different MLS databases (PCBAOR, WFMLS, WCMLS) and was pulled on July 10, 2022. Properties Sold includes any property listed as sold that month in the respective MLS, and is not restricted to only properties sold by Summit Sotheby's. 'Wasatch Back' includes all listings from Summit and Wasatch Counties. 'Southern Utah' includes Washington and Iron Counties. 'Wasatch Front' includes Davis, Salt Lake, and Utah Counties. Prepared By Summit Sotheby's International Realty. Information not verifiable by the Park City Board of Realtors.


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