Carol Agle
Prudential Utah Real Estate
Latest News & Statistics from Carol Agle
Chairman, Statistics Committee Park City / Deer Valley
  • Through Q3 2013, the PC/DV market is showing great strength: consecutive months of year-over-year gains in both number of sales and median price.... Read More
  • Two important notes in the current market: (a) inventory is way down, lowest in several years; (b) the market continues to show great segmentation.... Read More
I Invite You to Search All Properties in the Park City Area
Photo ShortlyGlenwild Home
7994 Glenwild Drive
Bedrooms: 3
Price: $2,095,000
MLS 9997571  More Info

Photo ShortlyColony Residence - Incredible Design
177 White Pine Canyon Road
Bedrooms: 5
Price: $5,920.000
MLS 11400250  More Info

Photo ShortlyTrue Ski In/Out at Park City
Snowflower 126
Bedrooms: 2
Price: $652,000
MLS 9995210  More Info

Photo ShortlyWest Ridge - Views!
2550 Lupine Lane
Bedrooms: 4
Price: $4,020,000
MLS 9993832  More Info

Photo ShortlyMountain Ranch Estates Luxury
5915 Ranch Place Drive
Bedrooms: 5
Price: $1,721,000
MLS 9998365  More Info

Photo ShortlyAbove the Fairway in Promontory
3319 Westview Trail
Bedrooms: 4
Price: $1,388,000
MLS 11400172  More Info

Photo ShortlyGreat Home featuring Panoramic Wasatch Views
2574 Silver Cloud Court
Bedrooms: 6
Price: $4,920,000
MLS 9988929  More Info

Photo ShortlyCanyons Condo
Silverado Lodge 207
Bedrooms: 2
Price: $399,000
MLS 9998223  More Info

Photo ShortlyFairway Hills - Panoramic Wasatch Views
3081 Fairway Hills Court
Bedrooms: 4
Price: $1,740,000
MLS 9997064  More Info

Photo ShortlyDeer Valley Slopeside Residence
Black Diamond Lodge Unit 341
Bedrooms: 5
Price: $4,800.000
MLS 11400154  More Info

Park City Real Estate - Market Statistics 2012

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.


Carol on Tacul HIGHLIGHTS: Inventory the lowest it has been in over six years.

SALES
The number of sales continued to climb in 2013 with a 26% increase over 2012 in all property types combined, reaching 1,668 transactions in Q3 alone. (ALL of 2012 was 1,817 total transactions!) Q3 sales were the greatest quarterly volume since 2007.

INVENTORY
With 1,160 active listings on the market, at current activity level the absorption rate is down to 5.7 months. Compare this to ~60 months back in 2009!

PRICING
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. The single family home areas with homes under $700,000 have seen rapid appreciation, but some other neighborhoods see no appreciation or even a continuing value decline, despite the almost frenzied buying of the latest quarter.

DISTRESSED SALES
Short sales and bank owned properties continue to decline, so that they are far less of a factor in our market than in previous quarters. As reported by Rick J. Klein, Wells Fargo Private Mortgage Banker, only 1.17% of active listings are now short sales or bank-owned.

LOOKING FORWARD
Prices in our market have generally been falling for four years, with many parts of our market 40-50% below where prices were at the peak. We are still well below the premium valuations pre-recession, but vigorously starting back up. I do expect the market to remain very complex and segmented, so results will vary widely across property types and locations.

Would you like this market commentary in PDF? Click Here to download PDF


PARK CITY / DEER VALLEY REAL ESTATE - STATISTICS

In Units

In Total Dollars

In Median Dollars

© 2011-2012-2013; Carol Agle