Price: to Type:

Amanda's 2015 Park City Market Report

By amandapeterson
Feb 25, 2016

DSC_3319Have a look at Amanda's 2015 Park City market report. We've had a good year so far... Click here to view

New Park City Trail Map

By amandapeterson
Sep 20, 2015

1516_PC_TrailMap_web2Ready for Winter? Check out the new trail map for Park City.  This rain is turning to snow on top already. Be ready to navigate this great mountain. 

The new owners of Park City’s mountain are working hard to get everything ready for the coming ski season. Their biggest addition is the gondola connecting Park City and the Canyons.  The hope is to give patrons easy access from their parking location or drop points.  In any case, locals and visitors will experience for the first time this great mountain and Deer Valley to boot.  It can’t get much better.  Plan your winter now!

 Click here for close ups of your favorite runs

Current Park City Real Estate Trends

By amandapeterson
Aug 09, 2015

Jan fishing

Here is a peek at the current trends in Park City Real Estate. Click HERE to check it out.

Park City Real Estate 1st Quarter 2014 Market Report

By amandapeterson
May 29, 2014

Jan fishing

 

 

 

 

 

 

 

Summer is finally on its way here in Park City. Two weeks ago it snowed and Memorial Day weekend will hit the 80 degree mark with clear blue skies. Gardens are seen with covers draped across fragile plants for overnight and trails throughout the valley humming with users at the lower levels. The 8,000 ft. trail still has major patches of snow. School kids are making plans for summer and tourists gone until mid-June.

The first quarter of 2014 has some very interesting trends. Click here to view the report

 

Park City Real Estate 2013 Year End Market Report

By amandapeterson
Feb 20, 2014

jumps It's Olympic month and no community is more excited than Park City, Utah. Since 2002 when we hosted the Olympics, athletes, athlete families and athlete enthusiasts have made the greater Park City area their home. Many live here, train here and enjoy the lifestyle and training facilities. Living amongst such energy and wonderful people is one reason Park City is a great place to live, work and vacation.

Take January this year. Olympic trials were held at our venues: Deer Valley, Park City, the Olympic Park and Soldier Hollow. These competitions and celebrations were a highlight of the month and exhilarating to watch. And at the same time, Sundance attracted movie goers, celebrities, film business executives and a ton of press. We were in the news daily.  Some might think that this kind of intense activity would make the town a mess. On the contrary. Everything ran like clock work. Skiers experienced uncrowded slopes, while movie enthusiasts filled the theaters from morning well into the night. It was truly a great month of fun.

The best news is that the real estate market is making a good recovery. Transactions are up. Values staying almost the same. Click here for the latest update on the Park City Real Estate Market.

Top 10 Best Buys in the Park City Area

By amandapeterson
Apr 13, 2013

Spring in the Park City area is heating up both in temperatures and the real estate market. The best values and hot items are moving quickly so it is a good idea to stay on top of the market. Look for First Quarter 2013 Market Report by April 19... you won't want to miss it. Click image below for more details on the Top 10 Best Buys in the Park City area:

BestBuys_sm

The Times Are A Changing...

By amandapeterson
Mar 15, 2013

...in real estate. I took a look at the Park City Board of Realtors statistics for January and February 2013 and was impressed with the activity. Here is a quick review that includes the total unit listings with the Park City Multiple Listing Service (PCMLS). This includes Park City and the surrounding communities such as the Heber Valley to the South, Kamas, Coalville, Peoa, Oakley, etc. to the East and a few in Salt Lake City to the West.

Single Family

Total Inventory: January = 598. February = 637.

Pended: January = 23. February = 103

Sold: January = 41. February = 57

Median Sales Price: January = $575,000. February = $630,000

***Single Family values are increasing.

ski beach at Deer Valley Spring Break Beach in Deer Valley, Park City, Utah

Condominiums

Total Inventory : January = 446. February = 471

Pended: January = 18. February = 47

Sold : January = 32. February = 52

Median Sales Price: January = $457,425. February = $418,750

***Condominium values are dropping slightly but transactions are increasing.

 

Vacant Land

Total Inventory: January = 725. February = 750.

Pended: January = 7. February = 35

Sold: January = 23. February = 18

***The construction industry is on the move as evidenced by the pended sales.

What’s going on in your favorite neighborhood? Call me and we’ll talk about it.

2012 Year-End Park City Market Report

By amandapeterson
Jan 31, 2013

Amanda Peterson, Park City Real Estate

Amanda PetersonHello Everyone,

Park City has just experienced the most successful Sundance Film Festival ever.  The world wide publicity and attendance was amazing. This coupled with the Martin Luther King holiday added a nice mix to the visitor types, who by the way were very interested in real estate.  Because the Salt Lake City was experiencing a rather nasty inversion and Park City was loaded with fresh air and sunshine, our visitors really saw how wonderful it is here in the mountains during the Winter. These kinds of activities make Park City an amazing winter vacation location from year to year.  Our numbers are showing a positive turn in the real estate. The 2012 statistical report released by the Park City Board of Realtors indicates "an increase in the number of sales and total dollar volume with inventory the lowest it has been in over six years." AND, medium price gains are evident.  "Total volume of real estate sold for the entire market which includes Park City and the Heber Valley is up 15%".

This may be your best year to buy in.  The trend is showing signs of a shift from a Buyer's market to a Seller's market. The decrease in inventory is a clear indicator. The good stuff is moving quickly meaning days on market are much less.

Here is an overview of 2012 in Park City real estate for your mid-winter read.  I think you will find it interesting and helpful in planning 2013.  It was a grueling election year with a scary economic forecast.  But it appears that this has passed. I’m optimistic about 2013.  National and local trends have showed signs of improving and besides that, it has snowed!  It has snowed lots and that makes Park City glow during the winter months.  Blue skies, snowy mountains and fun events make our area a great place to live and play in winter.

Come up for a ski or hot tub, or dinner or whatever you like. I’ll be here to greet you and as always, buy you a cup of coffee at the Deer Valley Grocery Café.

Bring your sun screen, Amanda


2012 YEAR END

Park City Market Report

LOCAL STATS

The 2012 year has been much better for real estate consumers in the Greater Park City area. This includes data collected in both Park City and the Heber Valley and marked on charts as areas 1-23. We are significantly up in the number of sales and total dollar volume.  According to the Park City Board of Realtor Press Release January 15, 2013, the number of sales climbed in 2012 with a 9% increase over 2011 in all property types combined reaching 1,817 total transactions. This is up 61% over the low point in 2009.Park City at Night

A drop in inventory is another mark of an improving market.  With only 1,879 active listings for 2012 compared to 2,146 in 2011, we show a 12% decrease.  This pencils to about a 10 month supply, using the Park City Board of Realtor tracking system  of active/pended sales. This is the lowest it has been since 2006.  What is the effect? Fewer choices for Buyers!  The hottest properties are on the market for only a few days and often receive multiple offers.  The poorly priced and languishing properties are skipped over by the discriminating buyers.

Another interesting trend is the increase in medium price of single family homes within the Park City limits. The statistics show an 8% increase over 2011. On the other hand, the condominium medium price is down 3% over last year. On the outskirts of Park City, we see a reverse. The Snyderville Basin and Jordanelle, areas show the medium price for single family homes down 5% and condominiums up 14%.

It is important to note that distressed sales and foreclosures have continued to drop through 2012. In Summit County, distressed sales accounted for only 13% of total sales during the 4th Quarter, down 31% from the 4th Quarter of 2011.


A peek at National Real Estate comments:

Snowy barnAccording to Jonathan Miller, president and CEO of a real estate and appraisal and consulting firm, the reason for the rise nationally in home prices is the Federal Reserve: Record low mortgage rates!

New-Home prices picked up strength in late 2012, according to the Commerce Department.  Sales of new single-family homes posted the first annual gain in seven years and median prices continue to rise.  The key word here is NEW.  This is reflected in the rise of activity in the construction industry.

It appears that we are following the national trend.


What's Ahead? Ski fence in Park City

Prices in our market have generally been falling for 4 straight years with many parts of our market 40-50% below where prices were at the peak, according to our board statistician. It appears that the downward pressure on prices has stopped. Prices have stabilized and in some areas, we have seen a slight increase.

I see our market as healthy and improving along with the national averages. But I would like to caution buyers and sellers to look closely at their own neighborhood and areas of interest. Medium prices only tell part of the story. We have found that some neighborhoods are hotter than others from time to time and inventory fluctuates for the slightest reasons.

If you want to buy, be prepared to act quickly or your favorite home or condominium may slip through your fingers. If you want to sell, prepare you home carefully and price it well. Let your realtor help you. Professional assistance will go a long way in making your purchase or sale a good one and a happy one.

Take a moment to review the charts below. They tell a good story about where we have been and where we are today. Call me to talk details. I can easily prepare an analysis of your favorite neighborhood.

(Click the images below to enlarge.)

Number of Units Sold (Click image to enlarge)

Total Dollar Volume of Sold Units (Click image to enlarge)

Median Price of Sold Units (Click image to enlarge)

*Note: Statistics compiled and referenced here have been gathered from the Park City Board of Realtors data base. They do not contain all data that might be relevant such as “for sale by owner” and Wasatch Front Multiple Listing data (WFR) for the greater Park City area. Information herein, while deemed reliable, is not guaranteed.

Amanda Peterson Amanda Peterson Keller Williams Park City Real Estate 435-640-9034 Amanda@AmandaParkCity.com AmandaParkCity.com ParkCityFlyFishingProperties.com

Location Address: 1375 Deer Valley Drive At the Plaza at Deer Valley

(Click the map below for directions)

Google Map

Mailing Address: 1750 Sun Peak Drive Park City, UT 84098

Copyright © 2013 Amanda Peterson, Keller Williams Park City Real Estate, All rights reserved.