First Quarter 1998

UTAH ASSOCIATION OF REALTORS
[Figures reflect sales reported by each Board's Multiple Listing Service.]

First Quarter 1998 Market Report BOARD	# of Sales 1st Qtr. 1997	# of Sales 1st Qtr. 1998	# of Sales % Up/ Down	Avg. Sales Price 1st Qtr. 1997	Avg. Sales Price 1st Qtr. 1998	Avg. Price % Up/ (Down)
Brigham/ Tremonton	81	65	(19.75%)	$104,122.00	$114,845.00	9.95%
Cache/Rich	84	129	53.57%	$113,555.00	$117,423.00	3.41%
Carbon/Emery	26	27	3.85%	$63,117.00	$76,672.00	21.48%
Central Utah	29	28	(3.45%)	$75,836.00	$75,196.00	(0.84%)
Grand/San Juan	20	12	(40%)	$123,765.00	$111,472.00	(9.93%)
Iron County	68	41	(39.71%)	$98,740.00	$99,096.00	0.36%
Ogden	751	771	2.66%	$128,180.00	$125,023.00	(2.46%)
Park City - homes - condos	96 92	92 96	(4.17%) 4.35%	$338,830.00 $287,989.00	$773,600.00 $375,572.00	128.32% 30.41%
Salt Lake - homes - condos	1,786 330	1,757 306	(1.62 %) (7.27%)	$154,996.00 $106,181.00	$162,791.00 $116,564.00	5.03% 9.78%
Tooele County	60	79	31.67%	$106,668.00	$117,793.00	10.60%
Uintah Basin	33	53	60.61%	$73,652.00	$76,931.00	4.45%
Utah County	460	477	3.70%	$145,431.00	$140,399.00	(3.46%)
Wasatch County	17	24	41.18%	$148,597.00	$183,529.00	23.51%
Washington County - homes - condos	193 87	184 108	(4.66%) 24.14%	$125,158.00 $108,876.00	$147,671.00 $117,074.00	17.99% 7.53%

1st Quarter/1998 Utah Average Sales Price for Homes = $160,471.00

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UTAH REALTORS REPORT AN INCREASE IN SALES
FOR FIRST QUARTER 1998

SALT LAKE CITY -- Single-family home sales in Utah increased slightly during first quarter 1998, according to figures released today by the Utah Association of REALTORS7 (UAR). Statewide, sales rose 0.85 percent compared to first quarter 1997, while home prices rose 11.22 percent over the same quarter last year.

"Home sales are off to a strong start in 1998," said Nancy Davis, UAR president. "The vibrant economy and continued low interest rates have combined to create a great buying environment.@

Home prices showed healthy growth among the UAR boards. The average price of a single-family home in first quarter 1998 was $160,471 up $16,192 or 11.22 percent, from first quarter 1997. A comparison of first quarter 1998 figures with fourth quarter 1997 shows an increase in the average home price by 5.52 percent.

"As was the case last quarter, we are finding these increases are consistent throughout the entire state," said Davis. "More than half of the 14 UAR boards showed an increase in the number of sales and 10 of 14 boards showed an increase in average sale price. Overall value continues to increase steadily, making real estate a good investment that is to likely to continue improving throughout the year."

In Northern Utah, the Brigham/Tremonton Board of REALTORS reported a 19.75 percent drop in sales of single-family homes in the first quarter of this year versus first quarter 1997, with an average sales price of $114,845; the Cache/Rich Association of REALTORS in Logan experienced a 53.57 percent increase in homes sales at an average price of $117,423; and the Tooele County Board of REALTORS reported another robust quarter with a 31.67 percent increase in home sales at an average sale price of $117,793. The Greater Ogden Area Association of REALTORS experienced a 2.66 percent increase in home sales at an average sale price of $125,023.

The Salt Lake Board experienced a 1.62 percent decrease in home sales, from the same period in 1997, at an average sale price of $162,791 and reported a 7.27 percent dip in condominium sales at an average sale price of $116,564.

The Carbon/Emery Board of REALTORS reported a 3.85 percent increase in home sales at an average price of $76,672; the Central Utah Board reported a 3.45 percent decrease in home sales during the first quarter of 1997, with an average sale price of $75,196; and the Grand/San Juan Association of REALTORS in Moab reported a 40 percent decrease in home sales with an average sale price of $111,472.

The Uintah Basin Board of REALTORS experienced a healthy 60.61 percent increase in home sales during the first quarter, versus first quarter 1997, at an average sales price of $76,931. The Utah County Association of REALTORS reported a 3.70 percent increase in home sales over first quarter 1997, with an average sale price of $140,399.

The Park City Board experienced a 4.17 percent decrease in sales of homes at a phenomenal average sales price of $773,600, and a 4.35 percent increase in condominium sales at an average sales price of $375,572. Wasatch County reported a 41.18 percent increase in home sales at an average sale price of $183,529.

In Southern Utah, the Washington County Board of REALTORS reported a 4.66 percent decrease in home sales during first quarter at an average price of $147,671 and a 24.41 percent increase in condominium sales at an average price of $117,074. The Iron County Board of REALTORS reported a 39.71 percent decrease in homes sales at an average sale price of $99,096.

The Utah Association of REALTORS serves as "The Voice for Real Estate in Utah," representing more than 7,300 members involved in all aspects of the real estate industry.

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