Things are certainly heating up in the Deer Valley and Park City real estate market. With the inventory of homes for sale getting thinner, the best homes, priced well are starting to move much quicker these days. I'm not sure I would quite call it a "hot market" just yet, but the activity is pretty good.
It was very interesting to see today (Monday, August 6, 2012) that two luxury homes priced over $5,000,000 just went under contract.
The first home is in the American Flag neighborhood of Deer Valley, and is a re-construction of an older home. This new home has amazing views of the lower Deer Valley resort area, and looks to the St. Regis Hotel at Deer Crest. Of all homes for sale in Deer Valley, this was unique in that it has ski access, and views, yet
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,
