Park City Enjoys Largest Quarter of Real Estate Sales in Five Years.
Both the number of sales and the median sales price are up over last year's numbers in the Greater Park City Area according to the 2013 second quarter statistics released by the Park City Board of REALTORS®. With a total of 991 sales to date — a 19% increase over the same time period in 2012 - the first half of 2013 had the highest number of sales since the first half of 2007. In fact, the number of sales is 21% higher, by quarter, than any quarter in the last five years. The total sales dollar volume is also up 19% over the same time-period last year, reaching over $698 million to date, which is also the highest total dollar volume since 2007. The
Activity and Prices Up in Almost all Market Segments
We recently had our meeting of the Statistics Committee for the Park City Board of Realtors®. This is the opportunity for us on the committee to review and discuss the current real estate market conditions for the Park City and Deer Valley communities. We meet four times a year, once for each quarter. We print out sheets and sheets of all sorts of statistical numbers and information and try to dissect it down to what's important, what is trending in our market, what stands out, and what is the big picture?
Its tough to try to define an answer to a simple question: "How is the market?"
We try to note the overall trends and shifts in the general Park City real estate market as a whole,
Park City, Utah - April 29, 2013 – Park City Board of REALTORS® just released statistics for the first quarter of 2013 showing the number of sales are up 17% from the first quarter of 2012. The sales dollar volume is up 28% over the same time-period last year, climbing from $239 million in Q1 of 2012 to over $306 million for Q1 of 2013. With 395 closed sales already this year, the Statistician for the Park City Board of REALTORS® said, “This is the best first quarter we have seen since 2007.”
Inventory
The current inventory of active listings in the greater Park City area is lower than it has been since 2006. As of April 1st, there has been a 21% decrease in listings since April 1st of 2012. The
The BIG Question is: "Have we passed the Bottom of the Real Estate Market?"
As Realtors in Park City, we get that question quite often. There is a lot of evidence that suggests that yes, it looks as though we have passed the bottom of the market. The next question to ask is: "Are we heading out of the bottom, and are we finally on our way back up?" So far, it does appear to be that way, but only time will truly tell. Just as when we were headed down to the bottom of the Park City real estate market, it was difficult to truly identify the bottom of the market until we were past it, and only then could we really measure and identify a true bottom of the real estate market in Park City, Utah.
If you follow our Park City Real Estate Blog then you will
Park City, Utah -- The year-end 2012 statistical report released by the Park City Board of REALTORS® indicates an increase in the number of sales and total dollar volume, with inventory the lowest it has been in over six years. It also shows a slight gain in median prices compared to 2011. The total volume of real estate sold for the entire market area (Summit and Wasatch Counties) reached $1,240,542,783 in 2012 -- a 15% increase over 2011.
Number of Sales of Real Estate in Park City
The number of sales continued to climb in 2012 with a nine percent increase over 2011 in all property types combined, reaching 1,817 total transactions. This is up 61% over the low point in 2009. The number of
PRESS RELEASE - October 10, 2012. The release of the statistics for the 3rd Quarter of 2012 real estate numbers have been highly anticipated as we all seem to agree that the overall real estate market in Park City and Deer Valley has been moving along quite well, but wondering if pricing has gone up or down? Has the inventory shrunk as much as we think it has? And where might we be headed? If you are a buyer today, what will you see in the marketplace?
In reviewing the large amount of statistics for the 3rd Quarter of 2012 we have noticed a decline in inventory, largely due to the increase of sales. In fact, when looking at the Greater Park City area, pended sales were slow to start in January but then have been quite high from February on to
Highest number of sales and pended sales in the Greater Park City Area since 2007. The inventory of active listings is the lowest it has been since 2007.
PRESS RELEASE - PARK CITY, UTAH - Monday, July 16th, 2012
Park City, Utah –The Park City Board of REALTORS® 2012 Second Quarter statistics, show the highest number of sales and pended sales in the Greater Park City Area since 2007. The total number of sales for Q2 was 486 with a total sales volume of $347,392,785 and median price of $427,450 - topping last year’s Q2 numbers with 451 units sold, $320,740,133 in total dollar volume and a median price of $412,500.
Park City Area Sales Numbers and Inventory
Sales numbers have bumped along since the end of 2008 and the first half of 2009. The highlight of
Park City, Utah –The highlight for the first quarter of 2012, as reported by the Park City Board of REALTORS®, is that the median sales price for vacant land and condos, in all areas, has gone up. The median sold price for condos went from $335,000 in the first quarter of 2011 to $401,628 for quarter one in 2012. Vacant land also saw a rise in median sold price from $134,500 in 2011 up to $200,000 in 2012. The overall sales dollar volume for quarter one, however, came in at $235 million, down from the first quarter of 2011 when overall sales topped $254 million. The total number of sales is also lower for the first quarter of 2012, with 338 sold properties,
It's still a Buyer's Market but the inventory is going fast.
Real estate sales in Park City surpassed the billion dollar mark for the seventh time in 2011. Year-end statistics from the Park City Board ofREALTORS® show an overall sales dollar volume of $1,077,426,368, up 6% from $1,013,432,555 for 2010. The number of sales continue to trend upward with 1,662 closed sales for 2011, up 17% from the 1,418 closed sales in 2010 and up 32% from the 1,131 sales in 2009.
Inventory levels have decreased since last year, with about 2,300 properties listed for sale compared to about 2,750 in 2010, a 13% decrease. Sales activity remains strong, which can be attributed to the reduced home, condominium and vacant land prices and the positive economic conditions in the
