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. © 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.