Park City Market Trends By Area For August 2016

Posted by Kathryn Vallee on Sunday, October 2nd, 2016 at 3:29pm.

PARK CITY MARKET TRENDS BY AREA FOR AUGUST 2016

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Single Family Homes

The Park City real estate market is a complex one, our market is highly segmented with micro-markets within neighborhoods. It really does matter what type of property, the location, price range, age and amenities, to better understand the real estate trends in and around Park City. 

How's The Market?

According to the Park City Board of REALTORS®, at the close of the second quarter of 2016, we have seen limited inventory and an increase in activity in areas such as Heber Valley and Jordanelle with double digit growth in the number of sales.

Park City has seen a steady annual price increase for single family homes, condominiums, and land.  The Park City proper area reported a median price increase of 19% when compared to the same time as last year.

The demand remains high for the Old Town which are proven by the most recent statistics. The median sales price went up 8% to $1.33M for a single family home from this same time as last year.

The Park Meadows area went up even higher to $1.54M which is a 12% increase from last year.

Promontory had median price increase of 19% reaching just under $1.85M from the same time as last year.

The Snyderville Basin area such as Summit Park increase 27% to $615,000 from last year, and Trailside up 16% to $716,000. For Single family homes in the Jordanelle area had 11 more sales than last year and a 42% increase in price reaching almost $1.2M.

In Heber Valley we saw a 35% increase in sales with a 16% jump in median price to $400,000 from last year.

Buyer And Sellers!

Buyers and Sellers are advised to contact a local Park City REALTOR® for information on what is happening in your neighborhood. Park City Home Value Request

 

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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