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)

Park City real estate activity has re-stabilized at normal (Pre-COVID) levels.

• • Gated communities, such as Promontory, show continued robust sales.
• • 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 Park City real estate market is showing signs of stabilization; a return to Pre-COVID market activity. Single Family home transactions year-over-year are up a bit. Condo sales are down somewhat. Vacant Land activity is very strong, with prices stable.

SALES

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

INVENTORY

Inventory is not as thin and troublesome as a few years ago, with 4.2 months of inventory standing at current activity rates. This remains a bit lower than normal.

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 most neighborhoods, although some areas are significantly greater, some lower.

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, Jordanelle, Kamas, Heber City, and Midway.