Last week I addressed our Park City market concerning Single Family Homes…this week I will give you some interesting stats on the Park City Condominium market.

Very similar to the single family market, there is no such fact as “The Park City Market”…there are many sub-markets that are composed of pockets or “mini markets”. This is why your agent should speak in terms of these “Mini Markets” vs the “Park City Market” (the numbers referenced below are rounded off).

Concerning Supply, the mini markets are very different around Park City as we compare the first quarter of 2017 to first quarter 2016…

Old Town area inventory is up 26%

Lover Deer Valley is up 10%

Prospector area is down 33%

Kimball Junction area is up 68%

The Canyons is up 5% (a lot of the new construction is not officially on mls)

Overall, there is a 7.4% increase, so you can see again how looking at “mini markets” is what you need to analyze.

Concerning the Number of Sales we will compare the first quarter of last two years…

Old Town is up 8% (134 sales)

Empire Pass is up 51% (15 sales)

Upper Deer Valley is up 11% (57 Sales)

Canyons up 11% (116 sales…mostly new product)

Kimball Junction is down 2% (77 sales)

If you are interested in more Park City market numbers I have detailed stats that I am more than happy to share with you… call or email my anytime. Thank you and have a great week.