Wasatch Back Quarterly Market Reports 2018 Q2 Wasatch Back Market Overview - 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 avg med 2015 2018 single family homes AVERAGE SALES PRICE 5% $2,480,423 avg med 2016 avg med 2017 2018 single family homes MEDIAN SALES PRICE 2% $1,930,000 avg med 0 2018 2018 vacant land MEDIAN SALES PRICE 15% $820,000 avg med 2014 avg med 2015 avg med avg med 2016 2018 condos/town homes AVERAGE SALES PRICE 6% $1,277,638 2017 med 2014 avg 200 K 400 K 600 K 800 K $545 1 .0 M 375 1 .2 M 1 .4 M Average and Median Sales Price 1 .6 M 300 K 0 CONDOMINIUMS & TOWN HOMES $834 600 K 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 15% $787,500 *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 is stable across average and median prices over the last 12 months. The neighborhoods of Old Town and Thaynes Canyon saw a significant increase in quantity of properties sold whereas Prospector saw a significant increase in average sales price over the last 12 months. Additionally, while quantity of condominiums sold remains consistent, there was a significant increase in median sales price in the neighborhoods of Park Meadows and Prospector likely due to added value from updates and remodels. Lastly, there was a significant increase in the number of condominiums sold in Empire Pass from an average of 1 per month to approximately 5 per month possibly due to the new ownership of Talisker and increased interest in the area. Q2 18 All statistics are based upon Park City Board of Realtors MLS data for the period of 7/1/17 to 6/30/18. © 2018 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed.