Tag Archives: statistics

Greater Park City Market Update 2018

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the 1st Quarter of 2018.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Ask a Summit Sotheby’s International Realty REALTOR® for help interpreting these charts.

Greater Park City Market Update | 2017

We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area comparing 2017 with previous years’ data. This update also provides market data for Summit County, Wasatch County, 84060, 80498 and individual Park City MLS areas.

Greater Park City – Single Family Homes – All MLS: The number of single family homes sold was up 11% year over year with 1,283 units sold and sales volume was up 15% at $1,494,577,807. The average days on market was 87 days representing a 7% reduction year over year. The average sale price was up 4% to $1,164,909 and the average price per sq. ft. was $291.

Greater Park City – Condos – All MLS: The number of condos sold was up 4% year over year with 906 units sold while total sales volume was up 14% at $701,607,987. The average days on market was 99 days and up 24% year over year. The average sale price was up 9% to $774,402 and the average price per sq. ft. was $429.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

No matter where you are in the real estate process of buying or selling, understanding the real estate trends is essential to your success in the local housing market so please contact your local Summit SIR sales associates for help!

Greater Park City Market Update | Q4 2017

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the 4th Quarter of 2017.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Ask a Summit Sotheby’s International Realty REALTOR® for help interpreting these charts.

Greater Park City Market Update | Q3 2017

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the 3rd Quarter of 2017.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Ask a Summit Sotheby’s International Realty REALTOR® for help interpreting these charts.

Park City Board of Realtors 2nd Quarter 2017 Statistics

pcpictureAugust 16, 2017 – Within the broader Park City market area, a changing geographic trend continues

At the close of the second quarter year-over-year housing statistics released by the Park City Board of REALTORS® show steady market growth and absorption of inventory in Summit and Wasatch Counties. With a unique mix of primary, secondary and investment property owners, the broader Park City market area is composed of numerous diverse micro-markets. Price-sensitive buyers looking for value are becoming more enticed by neighborhoods outside Park City than in the past; while properties in certain neighborhoods within the City Limits and the Snyderville Basin are being renovated to address design changes towards more contemporary layouts.

Year-Over-Year Single Family Home Sales

For our entire market area, the number of single family home sales was up 13% over the previous 12 months, the total dollar volume was up 16%, and the median sold price of $690,000 was up 4%.

With 374 closed sales, the Snyderville Basin surpassed all other areas and experienced more than double the total number of sales within the City Limits; while the median price in the Basin climbed 5% over the previous year to $970,000, it rose 20% within the City Limits reaching $1.9 M. With the growing number of second-home buyers who are willing to pay a higher price for new construction or recently renovated properties, there has been an upward tic in price for sought after locations.

Snyderville Basin

  • Over the last 12 months the neighborhood with the highest number of closed sales in the Basin was Promontory with a median price of $1.72 M. Offering new product and amenity-rich lifestyle, buyers have been drawn to the new design and multi-season services found in neighboring gated communities.
  • Jeremy Ranch had a median price of $925,000 and a total of 53 closed sales.
  • Pinebrook saw a 23% increase in median price to $922,000 and 48 closed sales.
  • Consistently low on inventory, Silver Springs had a median price flat to last year’s number at $938,000, with five fewer sales.

Park City Limits

  • Park Meadows saw a 23% increase in median price with $1.84 M and 44 closed sales – up 13% to the previous 12 months.
  • Old Town experienced an 11% median price increase to $1.49 M but a 16% decrease in number of sales.
  • The median sales price in Prospector was slightly up reaching $825,000, with 10 closed transactions.
  • Combined there were only 13 home sales in Empire Pass and Upper Deer Valley. Both neighborhoods saw median price decreases as well, with Empire at $5.66 M and Upper DV at $5.85 M.
  • Lower Deer Valley saw a burst of activity with nine more closed sales than the previous 12 months and held a stable median price of $2.1 M.

Jordanelle, Heber and Kamas Valleys

  • Driven by new construction in Victory Ranch, the Jordanelle area was up 28% in median price to $1.52 M.
  • Heber / Daniel had 203 closed sales for the year with a slight increase in median price to $360,000.
  • Midway, consistently reporting the highest median sold price in the Heber Valley, did so again at $469,000.
  • Quantity sold increased 24% in the Kamas Valley – and median sold price also significantly increased over the previous 12 months:
    • Woodland / Francis had a median price of $457,000 with 30 transactions.
    • Kamas / Marion had a median price of $312,000 with 34 transactions.
    • Oakley had a median price of $397,000 with 48 transactions.

Year-Over-Year Condominium Sales

For our total market area, the total number of closed sales was up 6%, total dollar volume was up 28%, and median sold price increased 12% to $500,000. The 333 condo sales within the City Limits surpassed the Snyderville Basin’s number of 310, and with new product available, the Jordanelle area saw a steep 39% increase in the quantity sold reaching 191.

Snyderville Basin / Jordanelle

  • The Canyons neighborhood averaged 10 sales per month with a total of 113 for the year – the highest in the Basin, with a 14% median price increase to $635,000.
  • The Kimball area had a steady 80 transactions with a median price of $335,000.
  • Pinebrook was on par to last year’s number of 61 closed sales sustaining a median price of $463,000.

City Limits

  • Old Town accounted for the highest number of condo sales with 133 (28 more than last year) and ended the quarter with a median price of $565,000.
  • Upper Deer Valley shot up in quantity sold, with 31 more sales than last year – the lion’s share of which can be attributed to Stein Eriksen Residences. The median price also increased to $2.6 M.
  • Activity in Park Meadows picked up due to larger unit sales in sub-divisions like Last Sun and Four Lakes, with a 31% increase in the quantity sold and a noticeable 56% price increase to $932,000.
  • Prospector’s median price of $136,000 remained stable to last year’s number.

Looking Forward

Sara Werbelow, President of the Park City Board of REALTORS® commented, “It’s important to pay attention to the micro-market areas that tell their own story; however, in general supply is continuing to pace with demand in our greater market area.” Since zip codes don’t explain neighborhood individuality, property condition, or amenities; and neighborhoods vary greatly in both price and inventory levels, buyers and sellers are encouraged to contact a member of the Park City Board of REALTORS® to find answers to specific real estate related inquiries.

Greater Park City Market Update | Q2 2017

Q2 2017 SSIR Market Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the 2nd Quarter of 2017.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Ask a Summit Sotheby’s International Realty REALTOR® for help interpreting these charts.

Greater Park City Market Update | 2016

SSIR  2016 Year End Market Update

We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area for 2016, comparing current year with previous years. This update also provides market data for Summit County, Wasatch County, 84060, 80498 and individual Park City MLS areas.

Greater Park City – Single Family Homes – All MLS: The number of single family homes sold was up 14% year over year with 1,153 units sold and sales volume was up 20%. The average days on market was 94 days representing a 12% reduction year over year. The average sale price was up 6% to $1,123,767 and the average price per sq. ft. was $271.

Greater Park City – Condos – All MLS: The number of condos sold was down 2% year over year with 868 units sold while total sales volume was up 10% at $613,507,073. The average days on market was 80 days remaining the same year over year. The average sale price was up 13% to $$706,805 and the average price per sq. ft. was $388.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

No matter where you are in the real estate process of buying or selling, understanding the real estate trends is essential to your success in the local housing market so please contact your local Summit SIR sales associates for help!

Greater Park City Area Market Update | Q4 2016

Q4 2016 SSIR Market Update_Page_01

We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area for the 4th Quarter 2016, comparing current year with previous years. This update also provides market data for Summit County, Wasatch County, 84060, 80498 and individual Park City MLS areas.

Greater Park City – Single Family Homes – All MLS: The number of single family homes sold was up 14% year over year with 289 units sold and sales volume was up 10%. The average days on market was 96 days representing a 14% reduction year over year. The average sale price was down 4% to $1,085,003 and the average price per sq. ft. was $266.

Greater Park City – Condos – All MLS: The number of condos sold was up 13% year over year with 251 units sold while total sales volume was up 54% at $203,749,321. The average days on market was 80 days representing a 10% decrease year over year. The average sale price was up 35% to $$811,750 and the average price per sq. ft. was $423.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

No matter where you are in the real estate process of buying or selling, understanding the real estate trends is essential to your success in the local housing market so please contact your local Summit SIR sales associates for help!

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Summit County Monthly Market Update

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Summit County Monthly Market Reports
Want more in-depth information? A property evaluation? Connect with your local Summit Sotheby’s International Realty sales associate for up-to-the-minute market information and expert knowledge and experience.

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December 2016 Park City Real Estate Market Update

December 2016 Park City Real Estate Market Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for November 2016. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Greater Park City Area – Single Family Homes: Active inventory was down 7% from 2015 with 736 units on the market and down 11% from the previous month. The median listing price was $1,430,000. The average days on market was down 19% from 126 days in 2015 to 102 days in 2016. The median sales price was $675,000. The averages for units sold in the month of November increased 10% for units sold during November year over year and decreased 28% decrease month over month with a total of 85 units sold.

Greater Park City Area – Condominiums: Active inventory was down 12% from 2015 with 421 units on the market and down 2% from the previous month. The median listing price was just $1,000,000. The average days on market was up 14% from 80 days in 2015 to 91 days in 2016. The median sales price was just over $420,000. The averages for the month of November show a increase of 7% for units sold year over year and down 35% over the previous month with a total of 78 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.parkcitymarketupdate.com

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