- Median price of a Single Family Home in the Park City limits is $1,630,000, up 18% in a year.
- Median price of a home in the greater Park City area, outside the city limits is $975,000, up 11% in a year.
- Median condominium price in Park City is $650,000, up 16% in a year.
- Market remains highly segmented, with micromarkets of high value still existing. Click Here to Go to My Statistics Page
|Ski in/out Above Canyons VillageAPEX Residences|
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|Modern Design in Old Town1185 Empire Ave|
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|Hillside Home Close to Skiing2406 Morning Start Court|
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|Home Just Steps to Ski Resort1279 Empire Ave|
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|Colony Elegance - Ski Access71 White Pine Canyon|
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|Deer Valley Snow Park BaseFawngrove 16|
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Park City Real Estate - Market Statistics
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.
HIGHLIGHTS: Inventory the lowest it has been in over six years.
The number of sales has continued to climb in 2016, accompanied by general price increases in the range of 6%. Q3 was the best third quarter in the last ten years, indicating a clear end to the years of distress.
With 1,154 active listings on the market (October 1, 2016), at current activity level the absorption rate is down to 6.6 months. Compare this to ~60 months back in 2009!
The median price for all property types is rising, but the point to make on current market valuations is that they are highly segmented. Some areas are continuing to see price declines. By price point, there is greater strength at the lower valuations, showing a fairly strong variation at a "break point" around $700,000. Median and average prices are trending up in most neighborhoods. Prices in our market generally fell for four years, with many parts of our market down 40-50% from the peak. In the last five years, prices have trended back up -- we are now approaching pre-recession valuations. However, the market remains unusually complex and segmented.
Valuations vary widely across property types and locations. I expect this complexity to continue, in an otherwise basic 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.
PARK CITY / DEER VALLEY REAL ESTATE - STATISTICS - 1999-2016
Total Number of Sales
Total Dollar Volume