Park City Housing Market evens out!

The Park City Board of Realtors released their third quarter market report this week. According to the statistics, Park City Real Estate is currently somewhere between a buyer’s and seller’s market with home prices and sales in the middle ground.

  • Total number of property sales up 4 percent and Total revenue up 3 percent compared to last year.
  • Median property prices, which include homes, condos and lots, are up 11 percent from the year before.
  • Inventor has gotten smaller and prices are currently stabilizing.
  • Vacant land sales have increased significantly in median price, up 19 percent. Between the first and third quarters last year, a total of 207 vacant lots were sold, including several in the Promontory area.
  • The number of home sales was up 5 percent with the second highest disclosed home sale in Park City history, an $11M Deer Crest Estate.
  • Condo sales were up 7 percent.
  • Distressed properties were down in the third quarter, accounting for only 14 percent of the market. Last year during the third quarter, distressed sales made up 27 percent of sales, a total of 80 property sales.

 

2012 Sales and Median Prices by Neighborhood:

 

For help buying or selling Park City Real Estate, secure the best representation possible and call Steve Blankenship at 435-640-6966.

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