Park City Real Estate News

Found 60 blog entries about Park City Real Estate News.



Park City, Utah – January 26th, 2016

Summit and Wasatch County property prices rise at a steady market pace in 2015

At the end of the fourth quarter of 2015, the year-end statistics reported by the Park City Board of REALTORS® indicated a slow but consistent annual increase in both the number of closed sales and the median sales price for single family homes, condominiums and vacant lots in Summit and Wasatch Counties. The total dollar volume for 2015 was up 10% over 2014, reaching $1.85 billion, with single family homes sales accounting for the highest dollar volume by property type.

Single Family Home Sales

Within the City Limits (84060), the median sales price of a single family home was 17% higher than the year before, reaching

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Welcome to our Q4 Market Report.

This report gives a statistical overview of Park City's real estate broken down by neighborhood. We give our clients the information needed to make smart choices with regards to Utah's real estate.

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Every quarter the Western Mountain Resort Alliance compares several of the leading western resort town real estate markets. Based on these numbers, the resort market in general looks very strong. Across the board, statistical evidence suggests that resort markets are healthy with measured, steady growth.

One of the more surprising figures to arise in the Second Quarter report was the extent to which Park City leads other comparative markets in terms of sold volume. Total volume sold this quarter in Park City amounted to $461 million. For comparison, Tahoe reported the next highest sold volume with $386 million, and Teton (Jackson) reported $190 million. Our market remains segmented, but there's no doubt that inventory is moving.

On the other

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Art in Architecture | Contemporary, Built for Living, Surrounded by Nature. 

We are thrilled to announce our partnership with Enclave at Sun Canyon. We specialize in developments; and, under the guidance of the Enclave agent team, we will continue to position the Enclave at Sun Canyon as one of Park City's most forward-thinking developments in terms of design, quality of life, and community.



Enclave at Sun Canyon is a community of 33 luxury townhomes and four custom homes, designed to blend with their natural surroundings. Located in the heart of Park City, Enclave is just minutes from three world-class ski resorts, Utah Olympic Park, Redstone Village and Historic Main Street with premier dining, shopping, theater and festivals. The

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Jordanelle SP 100110-01



Jordanelle | Pricing Single Family Homes

Average Sales Price: $970,000

Median Sales Price: $865,000

Number of Sales (Year to Date): 17

Notes on Jordanelle area homes: When compared to last year, single family homes in the Jordanelle neighborhood have experienced a 0% change in price. However, the number of sales almost doubled. In other words, the market is bullish but stable.




Jordanelle | Pricing Condominium

Average Sales Price: $403, 000

Median Sales Price: $421,000

Number of Sales (Year to Date): 69









Heber Valley | Pricing Single Family Homes


Average Sales Price: $460,000

Median Sales Price: $450,000

Number of Sales (Year to

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Current Park City Market Overview


Second Quarter stats are out. As ever, Park City's multi-faceted resort market remains complex. After carefully reviewing the numbers and interpreting them, here are our thoughts.

-Our market is stable. While we are seeing gradually increasing prices and growth, it is measured and steady. There are no alarming trends with regards to sales price or inventory.

-Buyers have options. While listing inventory feels constrained in the under $1 million market, new builds and good turnover in several of our neighborhoods mean that buyers still have a lot of options. In fact, taken as a whole our inventory is the highest it's been since 2007.

-Two trends, one market. Homes valued under $1 million seem to be

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In our latest tour of Echo Spur, Old Town’s seven home, mountain modern development on Rossie Hill, we were blown away by the comprehensive and seamless integration of sustainable features into some of the finest contemporary architecture we have ever seen.

Home building technology has changed rapidly over the past decade: “Sustainable” and “Green” have become the mantras of modern homes, but the systematic integration of these features sets these homes apart. The developer’s research into sustainable technologies focused on energy efficiency features that improve quality of life and - here’s what’s new – result in significant cost savings in operating the home.

The savvy homebuyer understands that the cost of purchasing a home is separate from

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The total number of closed sales, including single family homes, condominiums, and vacant land, within the Greater Park City Area, for the first quarter of 2015 was 11.5% higher than Q1 of 2014 and 18.5% higher than Q1 of 2013. With another strong quarter in condominium sales, the number of closed transactions for the first quarter of 2015 marked the highest number of first quarter sales since Q1 of 2007. The total dollar volume for the first quarter was 17% above that of 2014 and 37% higher than 2013, according to statistics released by the Park City Board of REALTORS®. The median sales price for the Greater Park City Area, including all property types, seems to be trending up at a gradual pace – 5.7% higher than the first quarter of last

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A few notable trends from 2015 so far in our market:

The market is stable - Total volume sold (all markets and types) is up 9% from the same time last year; average sale price is up 5%; and median sale price is up 6%. These numbers suggest that growth is steady and improving at generally the same rate as the overall domestic economy.

Our market is as segmented as ever - A lack of inventory is limiting the number of single family home sales in several historically popular areas (Silver Springs, Old Ranch Road, Pinebrook). However, condominiums and vacant land have seen robust interest and sales. Certain areas, like Canyons and Sun Peak, have also seen tremendous micromarket growth.

Within city limits, prices are going up. Popular in-town

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