Have you heard? Home sales are up in Park City, Utah!
Utah’s Gov. Gary Herbert recently spoke with the Park City Board of Realtors touting the economy for the state of Utah. “Utah’s economy is growing three times faster than the national average”, according to Governor Herbert. Politics aside, Park City is still enjoying one of the most active markets in the state and while the media reports that there are new government attempts to shore up the national real estate markets, the Park City Board and the local media recently reported at the same Park City Board of Realtors luncheon that inventory is down and the number of sales was up 18 percent from last year and up 86 percent from two years ago.
In the same article, Park City property values were not as optimistic as the volume of sales. If you are looking to sell your Park City home you might find that values are up in some areas. “The overall number of sales and single-family home prices are the two bright spots in our market,” according to the past president of the Park City Board. However, condominium continue to decline. Median average sale prices were down 19 percent from last year across the board, and condo sale prices within the Park City limits are down 39 percent from last year.
Our team is encouraged by a fall in inventory in our market, and many factors affect the numbers from year-to-year, for example sales of high-end Deer Valley condominiums closing in 2010 will abnormally effect 2011 numbers. If you are interested in a specific area of the Park City real estate market please contact a Team Schlopy member and we will be happy to get you details on your neighborhood or area. If you have not already, we encourage you to visit parkcityhomesnow.com to keep up-to-date on your Park City real estate, Heber City real estate or other surrounding real estate markets. We think you will like the site!