Highlights:
Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home.
Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market.
With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.
Park City Update:
August 13th, 2019 – At the end of the second quarter of 2019, the overall year-over-year housing statistics for Summit and Wasatch Counties continued to show strong appreciation with increases in both average and median sale price as well as dollar volume as reported by the Park City Board of REALTORS® Multiple Listing Service.
The greater Park City market in general continues to show great stability in single family homes. Despite an 8% drop in number of homes sold the median sale price rose 14% year over year.
During the same period in 2018, the median sale price gained 13% indicating a sustained period of steady, consistent growth. Nationally prices grew at a relatively flat 3.4% during the same period with Idaho (9.9%), Utah (7%) and Nevada (6.2%) showing the highest increases year over year.1
The strongest single-family gains appeared Kamas Valley which saw a median price increase of 22% over the same period in 2018, with a 33% jump in units sold.
Condominium and vacant land sales did not fare as well with condo sales volume down 6% and land sales down 21%, despite respectable gains in median sale price of 4% and 6% respectively.