Park City Real Estate Statistics / Trends

Carol is Chair of the Park City Board of Realtors Statistics Committee.  Statistics are issued quarterly.  To receive Statistics Committee updates – Click Here to Sign Up (Email)

Sales volume has leveled at normal levels; less activity in some significant market areas.

• • Gated communities, such as Promontory, show continued robust sales in number of homes sold.
• • Homes priced below median typically sell in a quarter of the time of a house priced above median.
• • Median prices in city limits are stable, compared to other areas.

The number of sales is again stable year-over-year, although somewhat depressed due to mortgage interest rates.

INVENTORY

Inventory recently set new record lows, now seems to be stabilizing again at normal levels..

The median price for all property types is rising, but the point to make on current market valuations is that they are highly segmented. Median and average prices are trending up in all neighborhoods, although some areas are significantly greater, some lower.

A significant trend is an increase in the premium paid for new construction, as building supply prices continue to skyrocket.

Valuations vary widely across property types and locations. The Park City / Deer Valley market remains unusually complex and segmented. I expect this complexity to continue, in an otherwise upward trend. An additional emerging trend which I expect to continue is robust interest in areas outside Park City proper, such as Kimball Junction, Kamas, Heber City, and Midway.