Wasatch Back Quarterly Market Reports 2018 Q3 Wasatch Back Market Report | Page 3
PARK CITY PROPER
The heart of Park City spans from the world-class Deer Valley® Resort to the iconic white barn, McPolin Farm. Park City Proper
includes the neighborhoods: Old Town, Thaynes Canyon, Deer Valley, Aerie, Prospector, and Park Meadows.
SINGLE FAMILY HOMES
$
Average and Median Sales Price
med
avg
2014
med
2015
2018
single family homes
AVERAGE
SALES PRICE
7%
$2,570,614
avg
med
2016
avg
med
2017
2018
single family homes
MEDIAN
SALES PRICE
3%
$1,950,000
avg
med
0
2018
2018
vacant land
AVERAGE
SALES PRICE
2%
$1,148,813
avg
med
2014
avg
med
2015
avg
med
2016
2018
condos/town homes
AVERAGE
SALES PRICE
3%
$1,308,535
avg med
2017
avg
200 K
400 K
600 K
800 K
1 .0 M
$545
1 .2 M
369
1 .4 M
1 .6 M
300 K
0
Average and Median Sales Price
600 K
CONDOMINIUMS & TOWN HOMES
$896
900 K
1 .2 M
1 .5 M
1 .8 M
2. 1 M
2.4 M
$
avg med
2018
2018
condos/town homes
MEDIAN
SALES PRICE
8%
$820,000
*Percentage change compared to the same time previous year, rolling 12 month format. Please note small sample size in some instances.
i
Takeaway: The single family home market throughout Park City Proper has seen a moderate increase in average and median sales price over
the last 12 months. Quantity sold remains stable in most neighborhoods throughout Park City Proper, however Park Meadows saw a significant
decrease in number of single family homes sold coupled with a 14% increase in median price. Additionally, buyers are finding favorable land
opportunities within Park City Proper with a 68% increase in quantity sold over the last 12 months. There has also been a significant increase
in the number of condominiums sold in Empire Pass in part due to new construction. Lastly, the Prospector neighborhood saw a measurable
increase in quantity of condominiums sold and median and average sales price due to opportunities for first time buyers and investors.
Q3
18
All statistics are based upon Park City Board of Realtors MLS data for the period of 10/1/17 to 9/30/18.
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