Old Town Park City Enjoying a Strong Recovery

Park City real estate in general is currently seeing a strong and healthy recovery. Sales activity is up for the 4th year in a row, and prices are moving back up as well. Of all the micro-markets of greater Park City, the community with the strongest gains is Park City's Old Town. Old Town has been a long time favorite location for both locals and for visitors. It's a highly unique area in that most properties are within an easy walk to popular historic Main Street and skiing at Park City Mountain Resort. As a much sought after community, we are now seeing a heightened level of activity as Old Town is being seen as one of the best places to own a home due to the year-round recreation it provides. The community also caters to all ages, and all members…

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Park City Real Estate Market Update for End-of-Year 2013

How is the "The Market"? Well, that depends on which market you're talking about. 2013 was an incredible year for our long awaited real estate recovery. Below we take a look at what happened, and where the market is hot, and where it is not. For example, Park City's Old Town seems to be on fire, while Lower Deer Valley is still in decline.

Park City Real Estate Demand - Pending Sales

We love to look at the trends of pending sales, as it is a great indicator of what the buyers appetite is, and it's amazing to see the seasonality of our ski town market of Park City and Deer Valley. Looking at the chart above (Thanks to Rick Klein at Wells Fargo for these great charts!), you can easily see the trends of buying over the years. Starting from the…

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Park City Real Estate Statistics Report for Q1 of 2013

Inventory Down + Sales Up = Prices Now Moving Up

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…

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Park City Real Estate - End of Year Statistics Report for 2012

PRESS RELEASE

FOR IMMEDIATE RELEASE:
January 15th, 2013

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…

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Park City Board of REALTORS® 2012 3rd Quarter Statistics Report

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…

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Old Town Park City Real Estate Update

Currently in Old Town there are:

138 Condos listed for sale.
They are priced from $119,900 to $2,695,000
The average price is $578,323
There is 1 short sale

59 Single Family Homes listed for sale.
They are priced from $475,000 to $4,595,000
The average price is $1,242,831
There is no short sale

You can view them all at:
http://enjoyparkcity.com/old-town.php

Also, currently in Old Town there are:

11 Condos under contract for sale.
They are priced from $299,000 to $2,950,000
The average price is $962,255
There is 1 short sale under review

9 Single Family Homes under contract for sale.
They are priced from $373,000 to $1,875,000
The average price is $1,089,778
There is 1 short sale under review

So far this year in Old Town there are:

82 Condos that have sold.
…

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