Park City Real Estate – 2007 Mid-Year Market Report

By Julie Olsen

Single Family Home Sales in the Park City area

For the first half of 2007, there were 252 sold single family homes with an average sold price of $1,476,700. The 2007 mid-year average days on the market for a single family home were 167 days. During the similar period of time in 2006, there were 300 sold single family homes with an average sold price of $1,405,249 that averaged 161 days on the market. So for single family homes in the first half of 2007 average sold prices were up by 5% and the number sold down 16%. The average time it took to sell a single home was off by just a few days.

Condo Sales in the Park City area

For the first half of 2007, a total of 390 condos sold with an average sold price of $811,752 and were on the market for an average of 266 days. During the first half of 2006, there were 439 condos that sold with an average sold price of $626,072 and were on the market for an average 145 days. So for condo sales in the first half of 2007 average sold prices were up by 30% and the number sold down 11%. The average time it took to sell a condo/ townhome was longer by about 120 days.

Vacant Lot Sales in the Park City area

For the first half of 2007, there were a total of 136 lots that sold with an average sold price of $851,124 and they were on the market for an average of 147 days. In the first half of 2006, there were 230 lots that sold with an average sold price of $757,080 and averaged 125 days on the market. Vacant lot sales in the first half of 2007 average sold prices were up by 12% and the number sold down by 41%. The average time it took to sell a vacant lot was up by 22 days.

*Data obtained from the Park City Utah MLS

Julie Olsen an Accredited Buyer Representative & Certified Negotiation Expert is a Local Park City Realtor who can help you find the perfect property in the popular ski community of Park City Utah to meet your family’s lifestyle needs as well as help negotiate the best possible price and terms.

Visit Park City Utah Real Estate to search the entire Park City MLS to find all the Park City homes, condos, townhomes & lots for sale.

Call Julie Olsen at 435-513-2848 Today so she can help start your search.

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