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Park City Real Estate Blog

On April 2019,  Lawrence Yun the Chief Economist and Senior Vice President of Research at the National Association of REALTORS® released the most recent economic and real estate outlook for 2019. 

The last Q1 of 2019, indicated that the Park City area trends over the last year is a steady and stable real estate market. The market data indicated that the median price is up 9.7 percent over last year. This is on par to the March 2019  National FHA report for the mountain areas.  The report that Lawrence Yin released indicated that Park City has a forecast sales price change to approximately  +2.7% in 2019 and 3% in 2020.

The first quarter housing report indicated that the number of home sales have decreased, inventory is down, but sales price is up.

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‘Want Warm and Cozy? Get Hooked on Hygge!

In a time when we have to practically make an appointment to breathe, who couldn’t use a great big dose of hygge right about now?

Huh? No. It has nothing to do with the Keto diet, or its companion, the Paleo. This is all about you at your core. “Hygge” is a mindset. “Hygge” --- pronounced “hoo-ga” --- is a Danish word describing the warm and cuddly concept of inner contentment and well-being by enjoying the simple things in life. Essentially, it is a minimalist philosophy, akin to “less is more”. Hygge is not a single, translatable word. It’s an all-encompassing feeling of plain, unadulterated good.

When you feel it, you can reflect it in your home decor with pieces and mood enhancing

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8 Reasons To Live In Park City, Utah

1. Breathtaking Views

Imagine driving into a city everyday with jaw dropping views. No matter the time of day Park City has the most amazing panoramic majestic mountain views. Utah's natural setting is known world-wide for it's beauty. Park City is a stunning location where mountains meet city living. Everyday Parkites celebrate 'Top of the World' living by partaking in the myriad of activities that Utah has to offer. No matter where you call home in Park City, capturing views of the Rocky Mountains is just steps away. 

Resource For Graph

2. Strong Economy

The census in 2016 reported the population for Park City hovered around 8,000 people with a median age of 40. The median income was

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ParkCity 2018 Real Estate Report with Rick Klein

January 2018

Rick Klein, a private mortgage banker with Wells Fargo here in Park City, Utah provides the Park City Board of Realtors with the best housing data for the entire Summit County area. Rick is a well respected mortgage banker in Park City, so if you need a loan I highly recommend him. He can be reached at 801-558-5626 (Mobile) or contact him now for a free consultation.

Let's take a look back at the 2018 housing data for Park City single family homes with Rick Klein. The first graph shows the Demand: Pending Sales shows the seasonality for the Park City Market. 

What's the Best Time To Sell In Park City?

Check out the dip in December. Sellers need to consider that the buyers in the

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Where is the Park City Housing Market Headed In 2019?

Interest rates are still low but not for much longer. According to the National Association of Realtors economists, buying a home will be more expensive. Lawrence Yun, the national associations of realtors chief economist, predicts home prices will continue to rise in 2019, but at a slower rate.  Yun expects national home sales to flatten and become more stable in 2019, rising by just 1 percent. Mortgage rates are expected to hit 5.5% by the end of the year. 

Yun commented also commented on the economy stating, "the economy is "good." He noted that we have low unemployment, record high job openings, historically low jobless claims, job additions for eight straight years and wages beginning to

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Investing in real estate is a priority for females in today’s market

The desire to own a home of your own in today’s world is overwhelming, especially for female homebuyers. Most people desire a place to call home due to the sense of security it provides. This is especially true for females entering the world of home ownership.

According to Keeping Current Matters, for the second year in a row, single female buyers accounted for 18 percent of all homebuyers in 2018. Also, in 2017, an overwhelming 60 percent of single millennial women were listed as the primary borrowers on mortgages.

Statistics also indicate that one in five homebuyers in the United States were single females, mostly from the baby boomer generation. Not surprisingly, the U.S.

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Since the market crash 10 years ago homebuyers and sellers are uneasy about the next market correction. The uncertainty as to what this really means remains the million dollar question.

The Park City Board of Realtors does an amazing amount of work gathering data and educating the local realtors about the real estate market trends. In Park City, the real estate market is cyclical like most markets around the country. We are hitting the 10 year mark with a great run for home sellers. 

A Shortage of Homes Available for Sale 

If the inventory remains low this trend has a tendency to push home prices higher and with mortgage rates increasing this may cause home buyers to pause because we may have reached a tipping point. 

We have had a few

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Park City 2018 Real Estate Trend Report from January to August

Property Type: Single Family Home

Major Area: Park City Limits

Price Sold                                              Number Sold

$500,000 - $599,999 1
$600,000 - $699,999 0
$700,000 - $799,999 2
$800,000 - $899,999 10
$900,000 - $999,999 2
$1,000,000 - $1,099,999 10
$1,100,000 - $1,199,999 2
$1,200,000 - $1,299,999 8
$1,300,000 - $1,399,999 18
$1,400,000 - $1,499,999 6
$1,500,000 - $1,599,999 6
$1,600,000 - $1,699,999 8
$1,700,000 - $1,799,999 2
$1,800,000 - $1,899,999 6
$1,900,000 - $1,999,999 8
$2,000,000 - plus 57
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Not Yet On Park City Multiple Listing Service

View Homes and Townhomes For Sale in Silver Springs

1435 W. Silver Meadows Unit 45, Park City, Utah 84098

2 bedroom | 2 bath | 1538 sqft

Directions: 

From Salt Lake City take I-80 to the Park City (Kimball Junction - Exit). Look for Highway 224 that will take you into the Park City area. Turn left at Silver Springs near the Blue Roof - 7 Eleven store. 

Silver Meadows Neighborhood

If life near water is what you require, then look no further! This ideal end-unit townhome backs to a pond serving as a focal point from the outdoor patio deck with hot tub, and offers a harmonious balance of indoor/outdoor living with a wonderful setting. 

The 1,528 Sq. Ft. home is open and

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Park City, Utah

The Bomber crew that crashed into Iron Mountain saddle November 17, 1941 was memorialized this day of May 28, 2018, during the memorial day program. 

 

The service will remember the deaths of Maj.Robert E. L. Pirtle, the flight commander of the 88th Squadron, and Sgt. Jack D. Anderson, the flight's engineer.

According to the Park Record, the ceremony was as a result of the research from historians Steve Leatham and David Nicholas . They made the following statement, "This was a story that had gotten lost in Park City history, because when it happened none of the survivors told their families about the event," Leatham said during a phone interview. "We almost feel a kinship with those airmen, and feel they want their story

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