First Quarter 1999

Utah Association of REALTORSÒ
[Figures reflect sales reported by each Board's Multiple Listing Service]

First Quarter 1999 Market Report	No.Sales 1st QTR. 1998	No Sales 1st QTR. 1999	No. Sales %Up/ (Down)	Ave. Sale Price 1st Qtr. 1998	Ave. Sale Price 1st Qtr. 1999	Ave. Price %Up/ (Down)

Brigham/ Tremonton	65	67	3.08%	$114,845	$104,879	(8.68%)
Cache/Rich	129	114	(11.63%)	$117,423	$118,481	0.90%
Carbon/Emery	27	33	22.22%	$76,672	$79,081	3.14%
Central Utah	28	43	53.57%	$75,196	$96,412	28.21%
Grand/SanJuan	12	22	83.33%	$111,472	$117,023	4.98%
Iron County	41	75	82.93%	$99,096	$105,851	6.82%
Ogden homes condos	771 n/a	731 38	(5.19%) n/a	$125,023 n/a	$132,136 $89,653	5.69% n/a
Park City homes condos	92 96	108 99	17.39% 3.13%	$773,600 $375,572	$474,494 $422,100	(38.66%) 12.39%
Salt Lake homes condos	1,757 306	1,973 320	12.29% 4.58%	$162,791 $116,564	$164,908 $123,336	1.15% 5.81%
Tooele County	79	97	22.78%	$117,793	$122,169	3.72%
Uintah Basin	53	29	(45.28%)	$76,931	$76,736	(0.25%)
Utah County homes condos	477 n/a	449 98	(5.87%) n/a	$140,399 n/a	$157,791 $106,044	12.39% n/a
Wasatch County	24	12	(50.00%)	$183,529	$160,775	(12.40%)
Washington County homes condos	184 108	220 69	19.57% (36.11%)	$147,671 $117,074	$139,593 $108,008	(5.47%) (7.74%)
1^st Quarter /1999 Utah Average Sales Price for Homes = $158,193

Date: May 5, 1999
Media Contact: Cami Rozanas (801) 364-0088

Utah REALTORS® Report An Increase In Sales
For First Quarter 1999

SALT LAKE CITY: The first quarter of 1999 showed an increase in single-family homes sales compared to the same period last year, according to figures released by the Utah Association of REALTORS7 (UAR). Statewide, sales rose 8.19 percent.

"Utah is in a strong economic situation. The median income has gone up. Interest rates remain low. As a result, we're seeing a continued increase in sales," says UAR President Ed Tugaw.

Utah homes sold for an average price of $158, 193Cdown 1.42 percent from first quarter 1998 and .62 percent from fourth quarter 1998. When excluding Park City homes, whose high end prices skew the overall data, the state's first quarter 1999 average home price was $149,354. This is a 5.51 percent increase in home prices from first quarter 1998 and a 1 percent decrease from fourth quarter 1998 when excluding Park City home sales for those time periods.

Local boards throughout the state experienced growth in both prices and sales. Compared to first quarter 1998, average home prices rose in nine of 14 boards and sales increased in the same number of boards.

"Home sales are up in most areas and prices are staying relatively stable. This is a perfect market for first-time home buyers and those who may want to move up," says Tugaw.

Utah's figures fall in line with national trends, according to information released by the National Association of REALTORSÒ (NAR). "A combination of factors- excellent housing affordability conditions and a strong desire by consumers to buy- are keeping the market incredibly strong," explains NAR President Sharon A. Millett. "The market continues to draw both first-time and trade-up buyers."

In Northern Utah, the Brigham/Tremonton Board reported a 3.08 percent increase in single-family home sales in the first quarter of 1999 versus the first quarter of 1998 and an average home price of $104,879; the Logan-based Cache/Rich Association of REALTORSÒ experienced an 11.63 percent drop in sales from the same time period in 1998, with an average home price of $118,481; and the Greater Ogden Area Association of REALTORSÒ showed a 5.19 percent decrease in sales and an average price of $132,136. The Tooele County Board of REALTORSÒ experienced a 22.78 percent boost in sales from first quarter 1998 with an average selling price of $122,169.

Salt Lake area home sales rose 12.29 percent from the same period in 1998, according to the Salt Lake Board of REALTORSÒ . The average home price was $164,908. Condominium sales rose 4.58 percent with an average price of $123,336.

The Carbon/Emery Board of REALTORSÒ reported a 22.22 percent rise in sales from first quarter 1998 with an average home price of $79,081; the Central Utah Board saw a 53.57 percent jump in sales with an average price of $96,412; and sales at the Grand/San Juan Board in Moab climbed 83.33 percent with homes selling for an average price of $114,023.

Home sales in Park City rose 17.39 percent compared to first quarter 1998, according to the Park City Board of REALTORSÒ . The average selling price was $474,494. Condominium sales increased 3.13 percent with an average price of $422,100.

The Wasatch County Board experienced a 50 percent drop in sales from first quarter 1998. Homes sold for an average price of $160,775.

The Utah County Board reported a 5.87 percent decrease in home sales from first quarter 1998. The average sale price was $157,791. The Uintah Basin Board saw a 45.28 percent drop in sales, with an average home price of $76,736.

In Southern Utah, the Washington County Board of REALTORSÒ showed a 19.57 rise in sales compared to first quarter 1998 and an average selling price of $139,593. Condominium sales dropped 36.11 percent, with an average price of $108,008. The Iron County Board saw a strong increase of 82.93 percent. Homes sold for an average price of $105,851.
The Utah Association of REALTORSÒ serves as "The Voice for Real Estate in Utah," representing more than 7,500 members involved in all aspects of the real estate industry.

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