Park City Real Estate Area Market Update | First Quarter 2019

Posted by Derrik Carlson on Wednesday, April 24th, 2019 at 12:19am

Here's a quick snapshot of the 2019 First Quarter Market Statistics for the Greater Park City area.

Look for my in-depth MARKET PULSE REPORT that I'll be adding in the next couple weeks!

Real Estate Update 1st Quarter 2019 for homes in Park City | Jordanelle | Heber Valley | Kamas Valley

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Market Update for Condos in Park City | Jordanelle | Heber Valley

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Market Update for Land Sale in the Park City area

Real estate sales in the Park City area started off slow in 2019. While I can't be certain but I believe that having 150% of snowpack this year contributed to longer skier days, buyers wanting to play rather than view properties, and sellers simply didn't want to move after 450" of snow. The charts above cover sold homes, condos, and land in the entire Park City area but when you see the quantity sold going down by a large percentage that could mean the difference of one to two properties selling. You'll notice a 171% increase in Upper Deer Valley home sales but there were only 8 homes that sold. With how much snow we had, and still have in some area, I'm not surprised by the fall in land sales and I expect to see a rebound throughout the second quarter of 2019.  There are also fewer good building parcels in the greater Park City area. Personally, I had half a dozen home buyers choosing to hit the slopes rather than preview properties so losing one in ten sales in Park City isn't a surprise. 

If you would like to discuss a specific area of Park City and what the market is doing please feel free to reach out to me. 

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