The Park City Real Estate market, while not breaking any records, remains healthy.
Taking a look back, my 2023 4TH QUARTER/YEAR-END REPORT shows the number of sales in 2023 was down from the previous year and values were pretty much holding steady. Given how much higher the interest rates were in 2023 compared to the first half or 2022, it was no surprise to see that the number of sales in Q1 2023 was down.
A current look at Q1 2024 (47 sold), compared to Q1 2023 (33 sold), shows sales up by 32%. Inventory levels remain low, with only a 3.3 month supply of townhomes for sale in Park City. It looks like values are trending up this year, but we’ll be able to measure that better with a larger sample size at mid-year.
Inventory: We track 95 townhome subdivisions in Park City. As of 3//31/24 only 27 of the 95 (29%) have any townhomes for sale. Ready-to-go Buyers are waiting and watching for new townhome listings!
Funding: I have been tracking funding type (cash vs. financing) since 2007. This market consistently sees about 50% cash sales. Of the 47 Townhome sales in Q1 2024, 58% were cash purchases. So high interest rates are a factor, but not as much as they could be when you consider many of our Buyers do not finance.
What’s Happening in Your Neighborhood?
Find your subdivision’s stats below, and call or text to request your property’s current market value.
Tom Ward, Realtor
435-647-3727 | [email protected]
Windermere Real Estate Park City
Client Endorsements
Jump to the neighborhood you're interested in:
OLD TOWN
- We follow 15 townhome subdivisions in Old Town.
- Over the last 10 years, the average # of townhomes sold per year in Old Town is 34.
- Currently there are no townhomes listed for sale in Old Town.
- For Q1 2024 there were 10 townhome sales.
- Four of the 10 sold townhomes pended sale in 10 days or less.
Lower DV
- We follow 12 townhome subdivisions in Lower DV.
- Over the last 10 years, the average # of townhomes sold per year in Old Town is 22.
- Currently there are 4 townhomes listed for sale in Lower DV
- For Q1 2024 there were 4 townhome sales.
- One of the 4 sold townhomes pended sale in 10 days or less.
Prospector
- We follow 2 townhome subdivisions in Prospector.
- Over the last 10 years, the average # of townhomes sold per year in Old Town is 6.
- Currently there are no townhomes listed for sale in Prospector.
- For Q1 2024 there were 0 townhome sales.
Park Meadows
- We follow 9 townhome subdivisions in Park Meadows.
- Over the last 10 years, the average # of townhomes sold per year in Park Meadows is 25.
- Currently there is 1 townhome listed for sale in Park Meadows.
- For Q1 2024 there was 5 townhome sales.
- One of the 5 sold townhomes pended sale in 10 days or less.
Canyons Village
- We follow 12 townhome subdivisions in Canyons Village.
- Over the last 10 years, the average # of townhomes sold per year in Canyons Village is 25.
- Currently there are 10 townhomes listed for sale in Canyons Village.
- For Q1 2024 there were 7 townhome sales.
- Three of the 7 sold townhomes pended sale in 10 days or less.
Sun Peak/Bear Hollow area
- We follow 3 townhome subdivisions in Sun Peak/Bear Hollow.
- Over the last 10 years, the average # of townhomes sold per year in Sun Peak/Bear Hollow is 16.
- Currently there are 4 townhomes listed for sale in Sun Peak/Bear Hollow.
- For Q1 2024 there were 3 townhome sales.
- Two of the 3 sold townhomes pended sale in 10 days or less.
Silver Springs
- We follow 6 townhome subdivisions in Silver Springs.
- Over the last 10 years, the average # of townhomes sold per year in Silver Springs is 7.
- Currently there are no townhomes listed for sale in Silver Springs.
- For Q1 2024 there was 1 townhome sale.
Kimball Junction area
- We follow 5 townhome subdivisions in the Kimball Junction Area.
- Over the last 10 years, the average # of townhomes sold per year in Kimball Junction is 31.
- Currently there are 5 townhomes listed for sale in Sun Peak/Bear Hollow.
- For Q1 2024 there were2 townhome sales.
- One of the 2 sold townhomes pended sale in 10 days or less.
Pinebrook
- We follow 7 townhome subdivisions in the Pinebrook.
- Over the last 10 years, the average # of townhomes sold per year in Pinebrook is 16.
- Currently there are 4 townhomes listed for sale in Pinebrook.
- For Q1 2024 there were 7 townhome sales.
Jeremy Ranch
- We follow 5 townhome subdivisions in Jeremy Ranch.
- Over the last 10 years, the average # of townhomes sold per year in Jeremy Ranch is 15.
- Currently there are 5 townhomes listed for sale in Jeremy Ranch.
- For Q1 2024 there was 1 townhome sale.
I’ve been a full-time agent in Park City since 1994. I have a passion for the art & science of home resales, and a track record of delivering results that “move you”. Don’t hesitate to contact me for information regarding the selling process. It’s never too early to start preparing for a sale! And if you’re next purchase is a right-sizing move, let me help you find a perfect fit. RightSizeYourHome.com
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Tom Ward, Realtor
Windermere Real Estate Park City
435-647-3727 | [email protected]
pcneighborhoods.com
