PARK CITY UTAH 2015 YEAR END REAL ESTATE STATISTICS
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 almost $1.52 million, but the number of closed sales decreased by 12%.
By neighborhood, Old Town had the highest number of closed sales with a total of 52 with a 6% increase in median sales price to $1.31 million. Thaynes Canyon had the highest jump in median sales price – up 46% from 2014 to $1.82 million with a total of 11 closed sales for the year. Park Meadows had seven fewer sales than last year but the median sales price was up 11% to $1.44 million. In Prospector, the median sales price increased 6% to $740,000, but there were only 11 closed sales for the year (down 39%), which demonstrates how low inventory of active listings can affect the number of sales in certain neighborhoods.
“Higher median prices of homes within Park City Limits and lower number of unit sales is reflective of demand outpacing inventory."
P R E S S R E L E A S E
FOR IMMEDIATE RELEASE:
July 23, 2014
For further information, contact Park City Board of REALTORS®
Park City, Utah – July 23, 2014 –
Though real estate prices in the Greater Park City
Area are trending upward, the number of sales is down 9%.
The number of closed sales in the Greater Park City Area dropped 9% in the second
quarter of 2014 compared to the same time period last year, according to the Park City
Board of REALTORS®. Though there were 39 fewer sales this year (single family,
condominiums and vacant land), median prices continue to trend slowly upward in
Park City Ut Single Family Home Sales
By property type, single family homes had the least activity in Q2. The number of single
family home sales within Park City Proper was down 29% compared to the second
quarter in 2013. Both Snyderville Basin and Heber Valley were down 9%, and Kamas fell
6%. Yet pricing in most areas is climbing at a gradual pace. The median price for a single
family home within Park City Proper is $1,675,000 (up 36% over Q2 of 2013). The
median sales price for a single family home in the Snyderville Basin area is rising at a
slower pace, but is still up 8% over 2013 to a median sales price of $755,500. The
Jordanelle area saw the highest price increase, reaching $885,000 (up 48%). “We are
seeing buyers at different ends of the spectrum. Some have expendable income or cash
and don’t mind paying for a new product they like. Others are more cautious and
resistant to price increases,” says President of the Park City Board of REALTORS®, Marcie
Davis. Single family home prices remain relatively flat in both the Heber Valley with a
median price of $359,150 and the Kamas Valley with a median price of $268,460.
Park City Ut Condominium Sales