What Does All This Growth Mean for Your Home's Value?

What the research says (and doesn't say) about new stores, new neighborhoods and your equity

In Part 1 of this series, we looked at whether western Weber County is becoming the next suburban hot spot. In Part 2, we looked at what's actually being built. Now for the question homeowners ask me most: is all of this good for my home's value?

The honest answer is that it depends, and anyone who promises you a specific number is guessing. Here's what the data and the research actually show.

📊 What prices are doing right now

Start with the county. According to Salt Lake Board of Realtors data reported by Utah News Dispatch on July 21, 2026, the median price of a single-family home in Weber County was $499,000 in the second quarter of 2026. That's up 3.11% from a year earlier, while single-family sales dropped 4.42% to 757.

Now zoom in on West Haven, one of the fastest-growing cities in the state. According to the Wasatch Front Regional MLS, 220 single-family homes sold in West Haven over the past 12 months (September 21, 2025 to September 21, 2026), with a median sales price of $604,495. In the 12 months before that, 218 homes sold at a median of $593,201. That's a gain of about 1.9%. Homes also took a little longer to sell: the median was 53 days on market, up from 42.

So what does that tell us? Even with all the new construction and new businesses, West Haven has seen steady, modest price growth and a slightly slower pace, not a runaway market. Keep in mind that a citywide median is just one number, and your street, your neighborhood and your type of home can look quite different.

🛒 Do new stores raise nearby home values?

You've probably heard that a new Costco, Target or grocery store boosts the homes around it. The research is more mixed than the headlines. Silas Kwok of the Vancouver School of Economics studied Costco openings across the U.S. from 2002 to 2020. According to The Close, he found no measurable nationwide price bump within 20 miles over the following two and a half years. But within 5 miles, homes in denser areas saw about 7.9% appreciation, and homes in higher-income areas saw about 5.2%.

Even the researchers note it's hard to untangle cause and effect. Big retailers often choose areas that are already growing, so it's tough to say whether the store lifts prices or simply shows up where prices were headed anyway.

🚧 It isn't all upside

A Fresno State study, published in June 2026 in the Journal of Real Estate Practice and Education, looked at a Costco that moved across Clovis, California. Homes within two miles of the old location rose about 8-9% after the store left, which the researchers linked to less traffic and noise. Around the new location, prices showed no lasting change once other factors were accounted for, with some dips during construction and a rebound after opening.

That's one California city, and the researchers themselves cautioned against applying it everywhere. But it's a good reminder that convenience and traffic often come as a package.

🏠 The bigger driver: supply

Utah still has a housing shortage. According to Utah News Dispatch, the governor set a goal of building 35,000 starter homes by 2028, and only about 7,412 had been completed as of that July report, mostly in Utah County. When demand is strong and supply is tight, that tends to matter for prices at least as much as what opens down the street.

🔍 What I'd watch as a homeowner

Where your home sits in relation to new development matters. Being close enough for the convenience but not right on top of a busy access road is a very different situation from living next to a construction zone. Timing matters too, since construction can be noisy and messy before the benefits arrive. And new neighborhoods nearby can mean more choices for buyers, which is something we'll dig into in Part 4.

Coming next in this series: New Construction vs. Established Neighborhoods in Weber County

In the meantime, I'd love to hear from you. Have you noticed changes near your home, good or bad? Leave a comment or send me a message.

Sources: Wasatch Front Regional MLS (West Haven single-family sales, September 2024 to September 2026); Utah News Dispatch (Weber County home prices, July 21, 2026); The Close (Costco and home value research); Fresnoland (Fresno State Costco relocation study, July 2026).