Post on 25-Sep-2020
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Better TechnologyBetter Marketing
BETTER RESEARCHBetter Education
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RESIDENTIAL REVIEW
TABLE OF CONTENTS
3 Residential Resale Overview
4 Residential Investment Research
5 Better Technology
6 Corporate & Developer Services
9 Salt Lake & Summit CountiesMarket Research
10 Utah & Sevier Counties Market Research
1 1 Asset Management
13 Beaver & Iron Counties Market Research
14 Washington County & Hurricane Valley Market Research
15 Commercial Real Estate Services
17 Las Vegas & Mesquite AreasMarket Research
BEST OF UTAH
ERA
BROKERS CONSOLIDATE
D
2018CITY
WEEKLY
PL
ATINUM COMPANY
ERA
BROKERS CONSOLIDATE
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2017ERA
NETWORK
GENE FRANCIS AWARD
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BROKERS CONSOLIDATE
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2017TOP
ALL-AROUND
COMPANY
Are you ready to buy, sell, rent, or invest? Let us guide you through the process. Visit with one of our trusted real estate professionals today.
For more information go to:
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LEHI
RICHFIELD
BEAVER
HURRICANEST. GEORGE
MESQUITE
SUMMERLINHENDERSON
SALT LAKE
ERA BROKERS
NAI EXCEL
NAI VEGAS
Leads Delivered to OurAgents Each Month
2K
1
LEAD. INVEST. LEVERAGE.
Five Firms Merged to CreateBrokers Consolidated
1982
Customer ServiceSatisfaction Rating
96%
Tech Platformfor Real Estate — ARTI
#1Amount of Real Estate Sold by Our
Agents Last Year
$1 BIL
Assets We Managefor Our Clients
$250 MIL
ERA Brokers is a real estate company infused with proprietary real estate technology. It is a subsidiary of Brokers Holdings, LLC, which operates residential and commercial brokerages in Utah, Nevada, Arizona, and Idaho. With over 300 agents and staff, Brokers Holdings combined entities closes over 3,400 transactions worth nearly $1 billion in value annually. In addition it manages more than 1,800 property management units for its clients.
SWANEPOEL
ERA
BROKERS CONSOLIDATE
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10002017 MEGA
COMPANY
RISMEDIA
ERA
BROKERS CONSOLIDATE
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500TOP
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REAL TRENDS
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3
RESIDENTIAL RESALE OVERVIEW
T12 Median Sales Price
$316,813$825,755$304,072$152,585$153,299$205,014$279,041$301,954$252,363$258,105
YOY Change
9%15%12%-3%7%9%9%
12%14%14%
Current Inventory
3,348 998
2,616 66 40
342 195
1,198 219
8,921
Building Permits
3,905 95
4,189 6 4
439 388
2,204 328
6,807
Market
Salt Lake County, UTSummit County, UTUtah County, UTSevier County, UTBeaver County, UTIron County, UTHurricane Valley, UTWashington County, UTMesquite, NVLas Vegas, NV
YOY Change
9%7%
10%7%
4%6%
10%12%15%14%
T12 AvgSales Price
$361,791$1,254,765
$336,527$172,160$155,732$218,520$290,673$341,340$265,211
$284,262
View market reports covering Utah & Nevada at:
erabrokers.com
Source: MLS, Local Association of Realtors and Construction Monitor
Average Days on Market
Number of Homes Sold Last 12 Months
Southern Nevada Months Supply of Inventory
Mesquite Las Vegas
Southern Utah Months Supply of Inventory
Iron CoWashington Co Hurricane Valley Sevier Co
Northern Utah Months Supply of Inventory
Summit CoSalt Lake Co Utah Co
34,351
753
4,374
602
1,156
60
306
9,010
1,486
17,678
4 All Rights Reserved | © ERA Brokers Consolidated
RESIDENTIAL INVESTMENT RESEARCH
Las VegasCondo & Townhome Rentals
Available for RentMonth SupplyCondos RentedDays on MarketMedian Rent Price1 Bed Rented Price1 Bed Price/SF2 Bed Rented Price2 Bed Price/SF3 Bed Rented Price3 Bed Price/SF
YE 2015
1,048 1.77
593 47
900 708
0.96 925
0.82 1,034 0.76
YE 2018
611 1.17 523
25 1,100 875 1.21
1,055 0.98 1,295 0.91
Multifamily YE 2018
Vacancy RateStudio/1 Bed2 Bed3 BedAverage RentLease Rate/SFAverage SF
Mesquite
2.3% 641 715
1,070 816
0.84 975
Beaver
6.3% 420 510 665 520 0.52
1,000
Richfield
1.1% 405 544 690 517
0.49 1,051
*The single family revenue index tracks actual revenue received against median home prices. This metric does not take into consideration risk based on market size or operating expenses.
Total Single Family, Condo, & Townhome Rentals
Vacancy RateRevenue Index*2 Bed3 Bed4 Bed5 BedAverage RentLease Rate/SFAverage SFMedian Price
Las Vegas
2.5%6.2%1063
1,363 1,623 1,897 1,283 0.83
1,550 256,256
Mesquite
2.5%5.4% 943
1,156 1,321
NA 975
0.77 1,260
252,022
St. George
2.7%4.7% 912
1,220 1,661
2,220 1,232 0.78 1,576
300,335
Beaver
3.4%6.7% 630 885
1,190 NA
885 0.57
1,555 153,299
Richfield
3.0%6.2% 643 799 904 975 775
0.52 1,477
149,526
Demand for rental homes remains strong in every market from Las Vegas to Salt Lake and rental rates continue to increase. Purchasing a home has become more expensive as both home prices and interest rates rise. As the hurdle for purchasing a home gets higher, many potential home buyers become longer term renters. The single family revenue index held mostly flat in 2018 as increased rents were offset by a rise in the median home price and vacancy rates remained mostly unchanged. Average rental data is provided in this report for single family homes, condos and townhomes. Multifamily research is available for Las Vegas, Northern Utah, and Southern Utah, through our affiliates NAI Vegas and NAI Excel. For property specific information, our residential property managers can provide you with a rent analysis for your individual property or portfolio.
Source: MLS, Local Association of Realtors and Construction Monitor
Available for RentMonth SupplySingle Family RentedDays on MarketMedian Rent Price2 Bed Rented Price2 Bed Price/SF3 Bed Rented Price3 Bed Price/SF4 Bed Rented Price4 Bed Price/SF5 Bed Rented Price5 Bed Price/SF
YE 2018
1,274 1.03
1,233 23
1,495 1,350
1.01 1,400 0.89
1,599 0.79
1,900 0.74
Las VegasSingle Family Rentals YE 2015
2,338 1.61
1,453 40
1,295 1,105 0.87
1,262 0.77
1,585 0.70
1,998 0.65
5
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HIRE AGENT
DISCLOSURES
MARKETING
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DISCOVERY
CLOSING
Leading the real estate industry with proprietary technology development. Transparency. Structure. Speed.
To learn more about ARTI® go to:
brokerstechnology.com
Better Technology
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Corporate Services
With approximately 2,350 offices across the world, your ERA Agent can help you with your next move anywhere.
Proudly serving as the #1 relocation providerfor military members & their families.
The trusted resource for home buyers & sellers, offering the most comprehensive search among competing national sites.
A leading global moving & relocation service provider.
The trusted leader among relocation companies, providing mobility services to organizations of all sizes.
Designed for employers who want to offer a benefit to their employees.
CORPORATE SERVICES
7
Providing services in 12 builder communities across our market area. Land Acquisition & Disposition, Market Research, Custom Builder Representation, Finished Lot, Custom Homes, and Model Home Sales Solutions
To learn more about ERA Brokers go to:
erabrokers.com
Developer & Builder Services
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9
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Highlights:
• Median price increased 9%• Inventory rose 13% over last year• Days on market remains low
SALT LAKE COUNTY
3.0%Change in New Listings
2.0%Change in Closed Sales
-3.0%Change in Inventory
Year-Over-Year:
9%Year-Over-Year price
change for the 12 month rolling average.
Highlights:
• Median price is 15% higher• Inventory levels are similar to last year• Days on market remains just over 100 days
SUMMIT COUNTY
-1.0%Change in New Listings
-9.0%Change in Closed Sales
-3.0%Change in Inventory
Year-Over-Year:
15%Year-Over-Year price
change for the 12 month rolling average.
Nov 2017155101115
$637,800 $977,449
95.3%101
9007.8
6
Last 12 Mo203132124
$825,755 $1,254,765
94.5%97
9427.8
8
Nov 2018162110113
$768,000 $1,136,244
91.9%1089988.8
3
+ / --1%
-9%-9%15%7%
-5.2%4%
-3%7%
-31%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -4.5%8.9%-1.7%
20.4%16.2%-3.6%6.9%
10.9%12.9%
-50.0%
Nov 2017 136513231441
$302,000 $345,044
97.0%39
29522.0224
Last 12 Mo189414731473
$316,813 $361,791
98.5%33
28081.9
325
Nov 2018149311661339
$319,900 $362,757
97.1%36
33482.5214
+ / -3%
-2%2%9%9%
-1.6%3%
-3%-5%61%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -9.4%
-11.9%-7.1%5.9%5.1%0.1%
-7.7%13.4%22.1%-4.5%
Source: MLS, Local Association of Realtors and Construction Monitor
0500
10001500
20002500300035004000
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
75
60
45
30
15
0Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
0
200
400
600
800
1000
1200
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
25
50
0
100
125
150
75
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
10 All Rights Reserved | © ERA Brokers Consolidated
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Highlights:
• Median price is 12% higher• Inventory is rising• Days on market hovers around 40 days
UTAH COUNTY
8.0%Change in New Listings
1.0%Change in Closed Sales
1.0%Change in Inventory
Year-Over-Year:
12%Year-Over-Year price
change for the 12 month rolling average.
Highlights:
• Median price is holding steady• Inventory levels are falling• Days on market is holding steady
SEVIER COUNTY
9.0%Change in New Listings
38.0%Change in Closed Sales
-13.0%Change in Inventory
Year-Over-Year:
-3%Year-Over-Year price
change for the 12 month rolling average.
Nov 2017231718
$139,000 $154,712
94.8%67985.4
N/A
Last 12 Mo302626
$152,585 $172,160
94.7%6181
3.6N/A
Nov 2018262226
$175,950 $181,395
94.4%62662.5
N/A
+ / -9%
27%38%-3%7%
-7.1%-28%-13%-33%N/A
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -13.0%29.4%44.4%26.6%17.2%
-0.4%-7.5%
-32.7%-53.4%
N/A
Nov 2017868718736
$280,750 $324,711
98.2%42
19592.7
292
Last 12 Mo1212786751
$304,072 $336,527
99.2%38
21042.8
349
Nov 20181034643700
$308,924 $346,348
98.9%41
26163.7191
+ / -8%1%1%
12%10%
-0.9%-4%
1%-2%15%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -19.1%
-10.4%-4.9%10.0%6.7%0.7%
-2.4%33.5%40.4%
-34.6%
Source: MLS, Local Association of Realtors and Construction Monitor
0
500
1000
1500
2000
2500
3000
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
75
60
45
30
15
0
0
20
40
60
80
100
120
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18 Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
25
50
0
100
125
150
75
11
We combine the best people, technology, marketing, and research to deliver you the best management experience. 1,800 Units and $250 Million in Assets Managed
To learn more about our Property Management go to:
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Asset Management Services
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13
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Highlights:
• Median price continues to rise• Inventory ranges between 40-60 units• Days on market varies significantly
BEAVER COUNTY
-11.0%Change in New Listings
-13.0%Change in Closed Sales
-7.0%Change in Inventory
Year-Over-Year:
7%Year-Over-Year price
change for the 12 month rolling average.
Highlights:
• Median price is 9% higher• Inventory levels are drifting lower• Days on market is holding steady
IRON COUNTY
0.0%Change in New Listings
11.0%Change in Closed Sales
-12.0%Change in Inventory
Year-Over-Year:
9%Year-Over-Year price
change for the 12 month rolling average.
Dec 2017 706478
$187,200 $201,909
97.9%1003574.6
15
Last 12 Mo121
10696
$205,014 $218,520
96.7%1023794.132
Dec 2018764965
$219,000 $238,521
97.4%1033425.320
+ / -0%5%11%9%6%
-3.9%-9%-12%
-20%43%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -8.6%
-23.4%-16.7%17.0%18.1%
-0.5%3.0%
-4.2%15.0%33.3%
Nov 2017 967
$97,500 $127,571
97.3%272547.7
N/A
Last 12 Mo866
$153,299 $155,732
92.5%14659
16.0N/A
Nov 2018518
$120,500 $122,063
95.0%98405.0
N/A
+ / --11%-13%-13%
7%4%
-8.9%-40%
-7%9%
N/A
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / --44.4%-83.3%
14.3%23.6%-4.3%-2.4%
-64.0%-25.9%-35.2%
N/A
Source: MLS, Local Association of Realtors and Construction Monitor
0
75
150
225
300
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 180
1020304050607080
Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18
0
100
200
300
400
500
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
25
50
0
100
125
150
75
14 All Rights Reserved | © ERA Brokers Consolidated
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Highlights:
• Median price is up 9%• Inventory rose at the end of the year• Days on market is between 40-60 days
HURRICANE VALLEY
-5.0%Change in New Listings
-17.0%Change in Closed Sales
-10.0%Change in Inventory
Year-Over-Year:
9%Year-Over-Year price
change for the 12 month rolling average.
Dec 2017354854
$248,000 $264,076
97.6%401472.721
Last 12 Mo725650
$279,041 $290,673
98.9%51
1573.229
Dec 2018443440
$283,750 $296,615
97.4%61
1954.9
10
+ / --5%
-15%-17%
9%10%
-1.5%-14%-10%
8%-7%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -25.7%
-29.2%-25.9%
14.4%12.3%-0.2%52.5%32.7%79.1%
-52.4%
Highlights:
• Median price is up 12%• Inventory rose, then reverted to mean• Days on market is holding steady
WASHINGTON COUNTY
3.0%Change in New Listings
1.0%Change in Closed Sales
1.0%Change in Inventory
Year-Over-Year:
12%Year-Over-Year price
change for the 12 month rolling average.
Days on MarketInventory of Homes for Sale
Dec 2017260314357
$284,500 $308,941
97.4%44
10563.0160
Last 12 Mo485379365
$301,954 $341,340
97.8%56
11193.2184
Dec 2018266235307
$305,000 $376,560
96.9%55
11983.9117
+ / -3%
-6%1%
12%12%
-2.2%-14%
1%0%
23%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -2.3%
-25.2%-14.0%
7.2%21.9%-0.5%25.0%13.4%31.9%
-26.9%
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
Source: MLS, Local Association of Realtors and Construction Monitor
0200400600800
100012001400
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
75
60
45
30
15
0
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
0
50
100
150
200
250
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
75
60
45
30
15
0
15
View over 300 properties for sale or lease.
naiexcel.com and naivegas.com
Access commercial real estate research for Northern Utah, Southern Utah, and Las Vegas.
Commercial, Industrial, and Investment Solutions
Sold by NAI Excel | St. George, Utah Manufacturing Plant — 237,003 SF
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Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
15%Year-Over-Year price
change for the 12 month rolling average.
6.0%Change in New Listings
2.0%Change in Closed Sales
-18.0%Change in Inventory
Year-Over-Year:
Dec 2017549366
$242,500 $245,213
98.6%46
2163.326
Last 12 Mo85
12563
$252,363 $265,211
98.1%50
2063.427
Dec 201862
10453
$245,000 $243,759
97.4%55
2194.116
+ / -6%
-2%2%
14%15%
-2.3%-21%-18%-23%
3%
New ListingsPending SalesClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -14.8%11.8%
-19.7%1.0%
-0.6%-1.2%19.6%
1.4%26.3%
-38.5%
Highlights:
• Median price is up 14%, but slowing• Inventory is rising• Days on market is rising
MESQUITE AREA
Days on MarketInventory of Homes for Sale
By Month 12 Month Rolling Average By Month 12 Month Rolling Average
14%Year-Over-Year price
change for the 12 month rolling average.
7.0%Change in New Listings
-6.0%Change in Closed Sales
5.0%Change in Inventory
Year-Over-Year:Highlights:
• Median price is up 14%, but slowing• Inventory is trending down• Days on market is between 45-55 days
LAS VEGAS AREA
Dec 2017 22512711
$240,000 $264,895
98.6%34
52271.9
423
Last 12 Mo38252863
$258,105 $284,262
99.1%29
67442.4
567
Dec 201825542226
$265,000 $292,752
97.5%37
89214.0399
+ / -7%
-6%14%14%
-1.0%-18%
5%13%
-18%
New ListingsClosed SalesMedian Sales PriceAverage Sales PriceList to Sale Price Ratio Days on MarketInventory of Homes for SaleMonths Supply of InventoryBuilding Permits
+ / -13.5%
-17.9%10.4%10.5%-1.1%8.8%
70.7%107.9%-5.7%
Source: MLS, Local Association of Realtors and Construction Monitor
0
2000
4000
6000
8000
10000
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
75
60
45
30
15
0
0
50
100
150
200
250
300
Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Dec 17 Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18
75
60
45
30
15
0
No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein. This report is submitted subject to errors or omissions without notice. No warranties or representations are made or implied as to the condition of any of the information contained herein.
erabrokers.com
Summerlin1735 Village Center CircleLas Vegas, NV 89134702.873.4500
Henderson2855 St. Rose ParkwayHenderson, NV 89052702.940.4500
Salt Lake9350 South 150 East #410Sandy, UT 84070801.341.0901
Lehi2901 North Ashton BoulevardLehi, UT 84043801.341.0909
St. George 201 East St. George BoulevardSt. George, UT 84770435.628.1606
Mesquite 1155 West Pioneer Boulevard #104 Mesquite, NV 89027702.346.7200
Hurricane10 North 100 WestHurricane, UT 84737435.635.4636
Richfield745 South Main StreetRichfield, UT 84701435.896.9609
Beaver395 South Main StreetBeaver, UT 84713435.438.1606