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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