Uintah Basin Housing Market
REAL ESTATE MARKET STATISTICS!
Since the beginning of the year 2020 the Vernal, Roosevelt, and Duchesne, Utah housing market's have seen big changes. In the past, the Basin economy has been mainly reliant on the oilfield and natural gas resources. In 2020 the price of oil dipped below $20.00 per barrel, and at that time there was not much activity in the oilfield. The Basin seen home sales and home prices increase and more people moving into the area, unrelated to the Oilfield Industry. Prior to 2020 home values went up and down with the oilfield industry, and has been a boom and bust cycle for years.
Uintah County Residential Sales Statistics.
In the first quarter of 2020 in Uintah County, the average sales price of Residential Property was at $193,000 In the first quarter of 2022 the average sales price raised to $262, 000 Duchesne County's first quarter of 2020 sold statistics for Residential Property was at an average sales price of $171, 000 and the first quarter of 2022 it is at $283,000 and still increasing.
Duchesne County Residential Sales Statistics.
(information from Wasatch Front MLS)
Residential home values have not seen declines and are staying stable in Vernal, Roosevelt, and Duchesne, UT City's. It appears people are still wanting to move to rural areas.