Market Update
2016 Greater Park City Year-End Report
One of the great things about Park City is that it offers a lot of different property options. The flipside: it's tough to generalize "the market." But in the link below you can check out the year-end stats for different neighborhoods throughout Park City and the surrounding areas. Here are some interesting talking points behind the stats:
1. Median sales prices have risen 7.5% per year since hitting their bottom in 2012. With 5 years of price growth but 10 years since the crash, there's a question as to whether we are in the middle of an upswing in prices or at the end of it.
2. In that same 5 year period, closed sales in Park City haven't fluctuated more than 5% in any given year.
3. Surrounding areas have seen a surge in demand and prices. The Heber Valley and Kamas Valley are considered "Park City" to many buyers, just as Eagle, Avon, and Edwards are considered "Vail."
4. 20% of all home sales occur in Promontory.
5. The 84060 market is about 70% second homeowners; 84098 is 65% primary residents. If you own a home in city limits, it makes sense to have it on the market during the winter when second home buyers are in town.
Please call me for detailed information on any segment of the market
(e.g. Deer Valley ski homes, Old Town condos, Glenwild, etc).