Home Prices and Population Going Up in Taylor and Snowflake
Home Prices and Population Going Up in Taylor and Snowflake
Consistent New Construction - Prices Continue to Rise - Homes Selling Fast
If you look around town, new homes are consistently under construction. Snowflake and Taylor continue to experience steady growth. In 2019, Snowflake issued 22 new residential permits and Taylor issued 38. In 2020, Snowflake issued 36 permits and Taylor issued 32 permits. So far in 2021, Taylor has issued 16 permits and Snowflake has issued 11.
According to worldpopulationreview.com, Taylor’s current population is estimated to be 4,457 and Snowflake’s population is estimated to be 6,253. Snowflake’s growth rate since the 2010 census is 11.86% and Taylor’s growth rate is 8.39%. These numbers are pretty remarkable considering that the paper mill, a large employer of the area, closed down in 2012. Although these are estimates, the 2020 Census data is expected to be released soon to identify an even more accurate population.
Not only are new homes being built, existing homes are selling fast and values continue to rise. According to David Mills with SEI Real Estate, median home prices have increased significantly. In 2017, the median home price was $180,000. In 2018, the median home price for the Silver Creek valley was $208,500. Today, the median home price is now $240,000, an increase of 25% (within town proper and with 3 bed/2 bath minimum parameters).
The demand is so high that there is a housing shortage for our community. Homes are being sold in a matter of a few days. As of today, only 12 homes are available for sale within the two towns. Apartments and homes for rent are being leased in hours and many have waiting lists.
There is not one single reason why the community continues to grow, but contributing factors include: retirees, telecommuters, and newer local employers like Copperstate and Walmart. In addition, many new residents work for Navajo County, Snowflake School District, and Summit Healthcare. Finally, much of the new population is here because of the pandemic. People are coming to Taylor and Snowflake to escape strict lockdowns and rules. For example, the school district has offered in-person education since August and many businesses do not enforce mask wearing; both rarities throughout the state and region.
What does this new growth and housing boom mean for the Silver Creek Valley? It’s unforeseen what market trends in housing will be long-term, but it is certain that Taylor and Snowflake are making progress; progress in economic growth, desirability and value.
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