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Utah Real Estate Trends - Summit County - Park City Home For Sale Statistics for First Half of 2010

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Park City Home For Sale Trends in Utah

 

 

July 6, 2010

Park City Luxury Homes For Sale

Summit County home prices are down by 3% from last year. Homes sales are up by 73 more homes sold than at the mid point of 2009. The average sold price for a Summit County home was $763,057, the highest average price in the state. Current homes listed on the market constitute almost 2 years of inventory. Summit County homes that sold during the first half of the year averaged $266.93 per square foot. It is taking just over four months to sell a home that is market priced.

Summit County condominiums are selling for $218,427 more on average than last year, probably due to out-of-state buyers of recreational condos in Park City. Condo prices are $163,000 less on average than single family homes. Park City Condo prices are significantly higher than the state condo average by nearly $400,000. It takes an average of 11 days less to sell a condo than a single family home.

Conclusion:  With a whopping 2 years of inventory waiting to be sold, buyers have a great selection of properties to choose from in Park City and Summit County. Prices are less of a concern for this market since most of the purchases are second homes, luxury or recreational.

Summit County Homes For Sale Statistics for First Half of 2010

2010 Mid Year Real Estate Sales Summit County Utah Average Difference
Single Family Home Sold Price $763,057 $241,346 $521,711
Condo Sold Price $601,997 $202,179 $399,818
Active Properties Listed (6 Months) 1,087 21,872 (20,785)
Single Family Homes Sold 160 10,930 (10,770)
Condos Sold 106 1,056 (950)
Current Inventory (months)             22.05             10.57           11.48
Square Feet of Homes Sold 2684 2488 196
Sold Price Per Square Foot $266.93 $96.90 $170.03
Days on Market (Single Family Home) 131 73 58
Days on Market (Condo) 120 92 28

 

More details for Utah Real Estate sales for first half of 2010.

Links to 2010 homes for sale by county: Salt Lake County, Utah County, Davis County, Summit County, Tooele County, Wasatch County, and Weber County.

 

 

Notes:
Average Days on Market = # days between listing date & contract date.
Current Inventory = # months to sell current active listings on the market.

Source: WFRMLS (This information is deemed to be reliable, however WFRMLS & RealestatehomesUtah.com do not guarantee accuracy.)

Report Date: July 6, 2010

 

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 Barry J. Preusz
REALTOR | Residential Specialist

Equity Real Estate - Burgundy Canyons Group
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Summit County Home For Sale Trends in Utah for the First Half of 2010 - Utah Real Estate Sales Statistics for 2010

Summit County areas include Coalville, Francis, Henefer, Kamas, Oakley, Park City, Echo, Peoa, Wanship, Woodland, Deer Valley, Emory, Hoytsville, Kimball Junction, Marion, Pine Cliff, Rockport, Snyderville, Summit Park, Upton, and Hideout.

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