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Park City Q3 Real Estate Market Report

Posted by Kathryn Vallee on Saturday, November 2nd, 2019 at 7:22am.

Park City Quarter 3 Real Estate Market Report 2019

Park City’s population continues to rise as more and more people discover the ease of access from the Salt Lake International airport with only a 30 minute commute. The Salt Lake City economy is flourishing with tech companies moving to the area. The Park City area is a bedroom community for new residents that desire clean air, beautiful mountain surroundings, and an upscale lifestyle.  Summit Sotheby’s International Realty reports on the Park City and Salt Lake City real estate market, sectioning into several micro markets and neighborhoods. Collectively, comparing the results through Q3 of 2019 to that of 2018, new listings did not change much from this same time as last year at 1,131. Total dollar volume sold increased by 3%. In Park City were are experiencing a strong real estate market as we head into our selling season for 2019-2020.

Old Town Single Family homes saw an impressive 26% increase in average price to $2,318,988 in 2019. The rolling median price went up 8.3% above this same time as last year.

 

Park Meadows showing to the largest increase fro the number of sales from 2018 of 33 to 53 in 2019. The increase in prices across the bulk of neighborhoods in the Park City area show that inventory is low and buyers are stepping up.

 

This Park City Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Old Town, Thaynes Canyons, Lower Deer Valley, Deer Crest, Upper Deer Valley Resort, Empire Pass, Aerie, Prospector, Park Meadows, Canyons Village, Sunpeak/Bear Hollow, Silver Springs Area, Old Ranch Road, Kimball, Pinebrook, Summit Park, Jeremy Ranch, Glenwild, Silver Creek, Trailside Park Area, Promontory, Snyderville Basin, Jordanelle Park, Deer Mountain, Tuhaye/Hideout, South Jordanelle, Midway, Heber, Red Ledges, South Fields, Timberlakes, Sundance, Provo, Salt Lake City, Kamas Valley, Oakley, Wanship, Morgan, Sndyerville Basin

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Did you know? 

We offer far more than just a pretty Park City real estate website! We can provide you COMPLETE market evaluations for your home, take you on a VIRTUAL walkthrough of any property, and even offer assistance with special circumstances (divorce, estates & probate, 1031 tax exchanges, trusts and other more complicated real estate transactions) where needed. We have the experience to make your real estate vision a reality. Call us today for a consultation. We are happy to assist you!

 

How Much is Your Home Worth??

Whether you are thinking of selling now or some point in the future, you can ALWAYS check your homes value with us! We prepare a professional market analysis with no cost or obligation to any home or condo owner in the Park City area. Automated Valuation tools are notoriously innaccurate in our area. Let us provide you with the information you need!

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