Buy Park City
  • Home
  • Search by Area
  • Market Reports
  • Buying
  • Selling
  • Market Info
  • About Us
  • Blog
    Login
    435-487-0151

    Sign in to your account

    Need to reset your phone number?

    Don't have an account with us?

    Click here to sign up.

    Watch One of Our Webinars

    TO
    Advanced Search

    Address Search

    Park City Real Estate Market Info

    Market Stats

    Where's the market heading? Get the facts!

    Webinar Library

    Webinar Library

    Choose a webinar to watch. Plenty of helpful topics.

    Park City Real Estate Market Report

    Market Report

    Free monthly reports - listing, pending, and sold data.

    SOLD PRICES CONTINUE TO RISE WHILE LIST PRICES ARE FALLING

    Park City's real estate market is quite unique. On the one hand, sold prices are up compared to a year ago; on the other hand, property owners are being forced to lower their list prices if they want to sell their properties. The number of sales in recent months has noticeably decreased as buyers are refusing to purchase overpriced listings. 

    Two Types of Sellers

    Sellers of Park City properties fall into one of two categories. There are those whose life situation motivates them to sell, and then there are others who do not need to sell at all. 

    The first group has well-defined goals for selling their properties, and they want to get it done. They're looking for a fair price. These sellers price their properties after a thoughtful review of recent comparable sales. They generally list their properties at or slightly above recent sold prices, depending upon the amount of competition in the marketplace. Their homes sell relatively quickly. 

    The second group doesn't need to sell at all. They have no urgency or compelling factors motivating them to sell right now, and they generally don't care about market data. They usually have a figure in their minds as to how much they want to get for their properties, and what others have paid for comparable properties is of little importance to them. These folks often say, "If I can get the price I want, I'll sell my property; otherwise, I'll keep it," and they mean it. 

    WHERE'S THE SWEET SPOT?

    buyer and seller sweet spot diagramThe happy medium, or sweet spot, that we're seeing where buyers and sellers are coming together during negotiations is at a price that is slightly higher than the last comparable sale but not so high that buyers are refusing to buy.

    Of course, every property is different, and price adjustments need to be made for those differences.

    LEARN WHAT YOUR PROPERTY IS WORTH

    Want to know what your property is worth in today's market? Contact us for a free Property Value Assessment and we'll help you find the sweet spot.

    • Homes
    • Condos
    • Land 
    • Days On Market

    Home Sales & Prices

    Park City Home SalesThe total number of homes sold in the last 12 months was 512 compared to 522 the prior 12 months. Within the Park City city limits, homes increased by 30 sales, or 20%, with 182 homes sold in the last year compared to 152 sales the year before. Homes sold in the Snyderville Basin experienced a 6% decrease; from 360 to 340.

    Park City Median Home Sale PricesThe comparison of median sold prices shows us that home prices dropped 3% within Park City city limits and went up 2% in the Snyderville Basin. Median prices in town went from $1,982,500 to $1,925,000, and from $1,220,000 to $1,250,000 in the Snyderville Basin. That means there was an average decrease of approximately .5% for our areas.

    Condo Sales & Prices

    Park City Condo SalesThe total number of condos sold had a increase from 604 sales between November 2017 and October 2018 and between November 2018 and October 2019. Condominium sales within the city limits dropped from 325 to 322, but in Snyderville Basin they went up from 279 to 317.

    Park City Median Condo Sale PricesMedian prices of condos had a decrease of $75,000 or 9% in town and an increase of 5% (about $25,000) in the Basin. That makes for an average 2% drop between Park City and the Snyderville Basin condominium median sold prices.

    Land Sales & Prices

    Park City Vacant Land SalesVacant land sales in Park City city limits had a significant drop of 45%. The period of November 2017 to October 2018 saw 31 sales, while the more recent 12-month period saw 17. Lot sales also went down in Snyderville Basin, going from 143 to 101, which is -29% or 42 fewer sales.

    Park City Median Vacant Land Sale PricesOverall, median lot prices showed an average increase of 6% -- a 12% increase in city limits, and an 0% increase in the Snyderville Basin. This roughly translates to an increase of median lot price in Park City of $120,000 and and no change in Snyderville Basin.

    Average Time on the Market of Closed Home Sales vs. Active Home Listings

    WWhen properties are priced correctly, based upon recent comparable sales, they sell in an average of 113 days. Meanwhile, the current inventory of properties for sale in Park City is staying on the market an average of 8 months without selling. So what’s going on?

    The silver bar on this graph shows that homes that are selling are taking an average of 113 days to sell. The red bar shows the cumulative days on the market for listed homes that have not sold. The average number of days on the market without selling is 243. That is 8 months on the market without selling.

    Many factors impact why one property sells over another. They include location, views, the age, and condition of a property, upgrades, and so forth, but the number one factor is price. After more than 30 years of selling real estate in Park City, I have learned that there is a buyer for every property, at a certain price.

    If you’re thinking of selling your property, realize that selling a home is a hassle. You must keep your home clean and in "ready to show" condition at a moment's notice. Nobody wants to be inconvenienced for eight months or more, especially with no sale to show for all the effort. When you decide to list your property, choose a price that will result in a sale within a reasonable time.

    park city market report search

    "Brand New" Listings - These Came on the Market This Week!

    3220 Antler Court, Park City image
    3220 Antler Court, Park City $4,600,000

    Perched above the 12th & 13th greens this home has absolutely amazing views of all 3 ski resorts. Situated in the Wapiti Canyon Sub-division this Mt Contemporary property...

    • 6 Beds
    • 8 Baths
    • 11908721 MLS
    221 Main Street, Park City image
    221 Main Street, Park City $4,150,000

    Take advantage of this unique opportunity to own an exceptional, fully furnished turnkey never lived in private home located in town. The historic Imperial Hotel, complet...

    • 4 Beds
    • 5 Baths
    • 11908727 MLS
    4330 S Bench Creek Road, Woodland image
    4330 S Bench Creek Road, Woodland $2,295,000

    Nestled on the Provo River, this beautiful custom lodge estate consists of 7 lush acres of property, and features a mixture of meadows, aspens, pines and walking or skiin...

    • 4 Beds
    • 4 Baths
    • 11908733 MLS
    1825 Three Kings Drive Unit 3201, Park City image
    1825 Three Kings Drive Unit 3201, Park City $1,995,000

    Find your own quintessential slice of ski heaven in this Silver Star flat - just steps to skiing and every amenity your heart could desire! The single level residence all...

    • 3 Beds
    • 4 Baths
    • 11908726 MLS
    Like or Share
    Loading likes...

    Address Search

    Deer Valley Neighborhoods

    Explore properties for sale in world-renowned Deer Valley.

    • Deer Crest
    • Empire Pass
    • Lower Deer Valley
    • Upper Deer Valley

    Park City Neighborhoods

    Learn about Park City's neighborhoods and see what's for sale.

    • Aerie
    • Canyons Village
    • Glenwild
    • Jeremy Ranch
    • Kimball Junction
    • Old Ranch Road
    • Olympic Park Area
    • Old Town
    • Park City Resort
    • Park Meadows
    • Pinebrook
    • Promontory
    • Prospector Area
    • Silver Creek Estates
    • Silver Springs Area
    • Summit Park
    • Sun Peak Area
    • Thaynes Canyon
    • The Colony
    • Trailside Park Area

    Surrounding Areas

    Search properties in Park City's surrounding neighborhoods.

    • Coalville
    • Deer Mountain
    • Francis
    • Heber City
    • Hideout
    • Huntsville
    • Jordanelle Reservoir
    • Kamas
    • Midway
    • Oakley
    • Peoa
    • Red Ledges
    • Rockport
    • Sundance
    • Timberlakes
    • Tollgate Canyon
    • Tuhaye
    • Victory Ranch
    • Wanship
    • Woodland

    Specialty Properties

    Explore properties for sale in these popular categories.

    • Golf Properties
    • Horse Properties
    • New Construction
    • Ski-In Ski-Out

    Market Reports

    Learn listing prices, sales prices, days on market, and other vital information.

    • Park City
    • Snyderville Basin
    • Deer Valley
    • Jordanelle Reservoir

    Create Your Own Market Report

    buy park city newsletter

    MLS Map Search

    park city mls map

    MORTGAGE CALCULATOR

    Amount of Loan
    Annual Interest Rate
    %
    Term of Loan
    Years
    CALCULATE

    Does not include any taxes or fees.
    Please consult a financial professional.

  • Home
  • Advanced Search
  • Selling
  • Buying
  • Foreclosures
  • About Us
  • Blog
  • Featured Properties
  • Contact Us
  • THE WILSTEIN TEAM - KW Park City Keller Williams
    1750 Sun Peak Drive
    Park City, UT 84098
    (435) 487-0151
    (800) 535-0151
    info@thewilsteinteam.com

    © All Rights Reserved

  • Home
  • Search by Area
  • Buying
  • Selling
  • Market Info
  • About Us
  • Blog
  • IDX Real Estate Websites by
    • Accessibility