Real estate in Summit and Wasatch Counties enjoyed healthy, steady growth
March 26, 2018
Sales of homes, condos, and land in the Greater Park City Area reached 2,885, the most the region has seen since 2006, and more than double the number of sales in 2010.
For the first time ever, the total dollar volume of all real estate sales in the region broke the $2.5 billion mark, reaching $2,500,209,161.
84 percent of the year's sales occurred outside the Park City Limits, demonstrating the increased demand for Wasatch Back living.
Greater Park City real estate continues to be a sound investment: In 2017, the average sale price of single-family homes was $1,160,318 —over 2.5 times what it was in 1999.
The Jordanelle area enjoyed a remarkable activity, with a 66 percent increase in the number of single-family home sales, and a median sales price increase of 9 percent.
Year-end data shows steady growth in single-family home sales in the Snyderville Basin (7 percent sales increase; 6 percent median sales price increase), but that the Canyons area experienced a good-news-bad-news year: Sales were up 13 percent, median sales price decreased by 31 percent.
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Condos inside Park City Limits are white-hot: In Old Town, sales rose 19 percent from 2016; Lower Deer Valley condo sales increased by 18 percent over the previous year.