Market Statistics and Trends
In this article, we are comparing the sales data for September 2016 through August 2017 (depicted with red bars) with the previous year, September 2015 through August 2016 (displayed with silver bars). The total number of homes sold, including those within the Park City city limits and in the Snyderville Basin, was up 11%, or 56 sales, in the more recent 12 months. The total number of condominiums sold in the Park City city limits and the Snyderville Basin was up 3% or 20 sales in the same time range. Lot sales were also up -- by 15% or 23 sales.
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Now let's break this data down further and look at sales activity within the Park City limits as well as in the Snyderville Basin (Park City county area excluding city limits). The charts below compare the number of sales, year-over-year, as well as the median sold prices for the same areas, year-over-year.
The total number of homes sold in the last 12 months was 561 compared to 505 the prior 12 months. Within the Park City city limits, homes increased by 28 sales, or 19%, with 172 homes sold in the last year compared to 144 sales the year before. Homes sold in the Snyderville Basin rose by 8%, or 28 sales, from 361 to 389.
The total number of condos sold rose by 20, from 628 sales between September 2015 and August 2016 to 648 between September 2016 and August 2017. Condominium sales within the city limits were up by 17%, or 50 sales, while condo sales in the Snyderville Basin fell by 30 sales, which is a 9% decrease from the previous year.
Vacant Land Sales
Vacant land sales increased by 23 overall sales. This 15% increase is in spite of a downturn in the Park City city limits. Sales fell by 31% in the city limits from 26 to 18. In the Snyderville Basin the number of lots rose by 31, or 24%, to 159 sales in the last 12 months from 128 sales in the prior 12 months.