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
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,
Below are some quick snapshots of the Park City real estate market comparing 2011 end of year numbers with the previous year. Also compares the overall price decrease from the height of the market in 2007. We will soon have a more detailed report once we complete our End of Year Statistics Report with the Park City Board of Realtors statistics committee.
When we first ran these numbers for this article, we were surprised by the huge amount of decrease in our Park City real estate 2011 median sold prices from the 2007 median sold prices. The amount of decrease is astonishing. Activity sure has been up since the slower years of 2008 and 2009, and here you can see why. With these lower prices on ski homes and condos, we are
Interested in Park City Real Estate? View our real estate market update for January - September of 2011. Below are informative statistics and illustrated charts for our Park City and Deer Valley real estate markets. We have seen our units sales continue to be strong, but pricing has seemed to be bouncing along the bottom. Some areas are still moving down in pricing, but some are actually moving up a little. There are many factors to these numbers, so if you are interested in a particular area, or community, you need to contact us and we can get you the detailed information. The good news is we are seeing good sales activity, and have been quite busy this fall, which is normally the slowest time of the year! Park City is a great place, and we still have