Market Statistics and Trends
Let’s compare the total number of sales of homes, condominiums and vacant land by looking at the past 12 months and comparing it with the year before. The red bars show the sales data for January 2017 through December 2017 compared to the previous year, 2016, depicted with silver bars. The total number of homes sold, including those within the Park City city limits and in the Snyderville Basin, was up 9%, or 45 sales last year, compared to the previous 12-month period. The total number of condominiums sold in the Park City city limits and the Snyderville Basin was up just 4% or 25 sales in the same time range. Lot sales were also up — by just 2%, or 5 sales.
Now let’s break this data down further and look at sales activity within the Park City limits as well as in the Snyderville Basin (Park City county area excluding city limits). The graphs below compare the number of sales, year-over-year, as well as the median sold prices for the same areas, year-over-year.
Please contact us if you want this same sort of information for a specific neighborhood or condominium project.
The total number of homes sold in the last 12 months was 567 compared to 522 the prior 12 months. Within the Park City city limits, homes increased by 20 sales, or 13%, with 175 homes sold in the last year compared to 154 sales the year before. Homes sold in the Snyderville Basin rose by 7%, or 25 sales, from 368 to 393.
The total number of condos sold rose by 25, from 626 sales between January 2016 and December 2016 to 651 in all of 2017. Condominium sales within the city limits were up by 13%, or 41 sales, while condo sales in the Snyderville Basin fell by 16 sales, which is a 5% decrease from the previous year.
Vacant Land Sales
Vacant land sales increased by three overall sales. This modest 2% increase is generally believed to be simply fewer instances of undeveloped building lots are to be found in Park City. Sales were up by 9% in the city limits from 25 to 27. In the Snyderville Basin the number of lots rose by one sale, or less than one percent, to 154 sales in the last 12 months from 153 sales in the prior 12 months.