RESIDENTIAL REVIEW...Utah County, UT Sevier County, UT Beaver County, UT Iron County, UT Hurricane...

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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

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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


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.


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

®

HIRE AGENT

DISCLOSURES

MARKETING

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DISCOVERY

CLOSING

Leading the real estate industry with proprietary technology development. Transparency. Structure. Speed.

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Better Technology


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:

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Developer & Builder Services


9

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


Year-Over-Year:



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%


+ / -9.4%

-11.9%-7.1%5.9%5.1%0.1%

-7.7%13.4%22.1%-4.5%


0500

10001500

20002500300035004000

Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18

75

60

45

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0Nov 17 Jan 18 Mar 18 May 18 Jul 18 Sep 18 Nov 18

0

200

400

600

800

1000

1200


25

50

0

100

125

150

75







Highlights:

• Median price is 12% higher• Inventory is rising• Days on market hovers around 40 days

UTAH COUNTY



1.0%Change in Inventory

Year-Over-Year:



Highlights:

• Median price is holding steady• Inventory levels are falling• Days on market is holding steady

SEVIER COUNTY




Year-Over-Year:

-3%Year-Over-Year price


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


+ / -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%


+ / -19.1%

-10.4%-4.9%10.0%6.7%0.7%

-2.4%33.5%40.4%

-34.6%


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

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40

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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

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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


13





Highlights:

• Median price continues to rise• Inventory ranges between 40-60 units• Days on market varies significantly

BEAVER COUNTY




Year-Over-Year:



Highlights:

• Median price is 9% higher• Inventory levels are drifting lower• Days on market is holding steady

IRON COUNTY




Year-Over-Year:



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%


+ / -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


+ / --44.4%-83.3%

14.3%23.6%-4.3%-2.4%

-64.0%-25.9%-35.2%

N/A


0

75

150

225

300


1020304050607080


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




Highlights:

• Median price is up 9%• Inventory rose at the end of the year• Days on market is between 40-60 days

HURRICANE VALLEY




Year-Over-Year:



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%


+ / -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




Year-Over-Year:




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%


+ / -2.3%

-25.2%-14.0%

7.2%21.9%-0.5%25.0%13.4%31.9%

-26.9%



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

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15

View over 300 properties for sale or lease.

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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


17








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%


+ / -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








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%


0

2000

4000

6000

8000

10000


75

60

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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

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RESIDENTIAL REVIEW...Utah County, UT Sevier County, UT Beaver County, UT Iron County, UT Hurricane...

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