The remarkable rise in homes sold and sale prices that we experienced in the latter half of 2020 continued unabated through the third quarter of 2021. Sale prices showed strong appreciation with increases in both average (Up 26%) and median (Up 17%) prices as well as dollar volume (Up 80%) across the primary market of Summit and Wasatch Counties as reported by the Park City Board of REALTORS® Multiple Listing Service. Fears that the market might be overheated and that the boom could foretell another housing market balloon just before a crash to rival 2008 were quelled by consistent financial indicators pointing to a sustained bull market in housing.
How did the local market fare? Here is the total year-long results reported on a rolling year-over-year basis for the period ending September 30, 2021.
Single Family Home Real Estate Market
Despite fluctuations in the regional markets, Single Family sales activity on a region wide basis was markedly up compared to the year prior with unit sales up 16% and median prices up 50%.
• The median price of a single-family home across Park City rose 28% to $2.93 million.
Condominium Real Estate Market
Vacant Land Real Estate Market
I am the Principal Broker Stein Eriksen Realty Group. I help buyers and sellers throughout the Park City area, including Deer Valley Resort and the surrounding luxury communities.
I am the top-producing realtor by closed dollar volume in the Deer Valley area for 2021.