I am a member of the Park City Board of Realtors Statistics Committee, and every quarter we gather to look at how the sales numbers actually shake out, and we compare it to our personal anecdotes about what has been happening in our individual businesses. And every quarter we collectively walk away with wide eyes, open minds, and particular areas we plan to watch for the next quarter. It’s a reality check, the whole picture. As we all know, by picking and choosing particular stats, advertising and news media can paint any economic picture. As Benjamin Disraeli said (and Mark Twain made famous): “There are three kinds of lies: lies, damned lies, and statistics.”
Yesterday’s stats meeting was another brain melter. Two years I’ve been attending and I haven’t left a meeting yet feeling like there were no surprises left. Get ready: there is a lot of meat to chew through here. So, I have a TL;DR Version and a Full Edition. LET’S DO THIS THING.
TL;DR
Lower Deer Valley condos are finally selling. Prospector and Kimball Junction condos are selling like crazy. Jordanelle is going gangbusters on condos, houses and vacant land. If you’re building a home, you’re probably buying land in Heber or Jordanelle. The PCMR/Canyons connection is potentially making Deer Valley more exclusive. Median sales price for single family homes in the Park City limits is $1.439M, up 18% over last year; Snyderville Basin $874,500, up 20%; Heber Valley $354,900, up 3%; Kamas Valley $475,000, up 35%. Greater Park City, median home prices are steadily increasing, but are in the same range as 2006, 2009 and 2010.
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