Categories: Deer ValleyMarket StatisticsReal EstateSellingUncategorized

3rd Quarter 2021 Real Estate Summary

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

Land sales exploded in third quarter as buyers who could not find an existing home to their liking elected instead to build their own. The summer spike in lumber prices abated somewhat but still many buyers had to defer the groundbreaking until later because of the backlog of pending orders at most new home builders.

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.

STEIN ERIKSEN REALTY GROUP435-659-6381kbarber@steinsrealty.com kristenbarber.com