Stein Eriksen Realty Group November 2023 Update

The Olympic Games are Returning to Utah!


If you are thinking of listing your home for sale in Park City UT, you need the latest housing market data & trends! Our Park City Real Estate Market Update for November 2023 includes Stats for Single Family Homes, Condos & Townhomes.

November 2023 Park City Market Update

In Summit and Wasatch Counties, the rate of sales (number of units sold) dropped 25% for single-family homes and 36% for condominiums from the full year prior. Sales declines across the region were attributed to continuing high mortgage interest rates and low available inventory, with the latter being the prime driver. Agents noted that the large majority of homeowners still carrying a mortgage financed their purchases at rates from one-third to one-half below the current prevailing market rates, making them extremely reluctant to sell if they have to finance a replacement home elsewhere.

Park City neighborhoods vary widely in price comparison and the Q3 year-over-year results continued that pattern.

For single family homes, all five of the major areas that make up the greater Park City market showed drops in units sold through the third quarter of 2023 vs. 2022. The exceptions were in neighborhoods where new construction is booming. Sales in the Silver Creek Village area nearly doubled over the previous year. A majority of the sales were newly completed or construction in progress on average prices just over $1.2 million. In Tuhaye, on the east side of the Jordanelle Reservoir, Talisker Club sales continued strong with units up 16% on volume of $108 million (up 42%) making for an average sale price over $3.7 million, up 22%.

Condo sales across the primary market range followed a pattern similar to single family homes. Year-over-year sales volume declined in all areas by 31%, primarily due to a lack of inventory to sell. Also, owners of those few properties who were willing to sell were holding out for much higher offer prices. Within the Park City limits, condo sales volume was down 32% but the median sale price rose 10% to $1.65 million. In the Snyderville Basin, the average sale price only rose by 1% to $1.25 million.

Real estate in the Wasatch back consists of highly segmented markets with nuances that vary significantly from one neighborhood to another and one house to another. Comparisons are hard to read on paper due to the unique features of individual properties, such as amenities, condition, style, location, age, view, and inventory. Are you interested in a custom report for a specific property or area? Contact me today for a personalized report based on your needs.

View October 2023 Statistics for Single Family Homes/Condo-Townhouse

Single Family Homes in Park City (84060) November 2023 Park City Market Update

Single Family Homes in Park City (84060)

Condo/townhomes in Park City (84060) November 2023 Park City Market Update

Condo/townhomes in Park City (84060)

Want more? Check out our monthly Park City Real Estate Market Updates here!

November 2023 Park City Olympics

Utah and the 2034 Olympics

The International Olympic Committee announced today that Salt Lake City is the preferred host for the 2034 Winter Olympics and Paralympics.
Formally making it the frontrunner to host the major global event.

The Park City area is crucial to the Games, as was the case during the Winter Olympics in 2002. Park City Mountain, Deer Valley Resort and the Utah Olympic Park are identified as key competition venues. Soldier Hollow in nearby Wasatch County is also on the concept map of venues. Park City and the Summit County Snyderville Basin-area would be critical to the transportation, security and celebration planning.

Their choices to host the 2030 and 2034 Winter Games will go to the full membership for a final ratification vote next year, likely in July just before the start of the 2024 Summer Games in Paris.

To understand how the Olympic Games affect the local propert market, you should first understand the property market in general. The housing market is affected by factors such as interest rates, and the economic state of a host city, as well as hcanges in population and demand. Major events like the Olympics provide an influx of tourism and demand that will have an effect. We can look to the market trends leading up to and following the 2002 games on our area.

Utah and the 2034 Olympics


Park City is a vibrant year-round destination filled with exciting events, family-fun activities, festivals, art exhibits, and excellent dining options.
Ski season is peak season and there is so much to do.

Park City Winter 2023 Events


8902 Empire Club Drive 506 Park City, Utah 84060-6102 November 2023 Park City Homes for Sale

Silver Strike Lodge


8902 Empire Club Drive 506, Park City, UT 84098
4 Bedrooms  |  5 Bathrooms  |  2,255 SF
List price: $4,650,000

The Pendry



2417 W High Mountain Road, Park City, UT 84098
Studio  |  1 Bathroom  |   444 SF
List price: $749,500

2417 W High Mountain Road 2406 Park City, Utah 84098 November 2023 Park City Homes for Sale
425 Centennial Circle, Park City, UT 84060 November 2023 Park City Homes for Sale

Centennial Home


425 Centennial Circle, Park City, UT 84060
7 Bedroom   |  9 Bathroom  |   6,103 SF
List price: $8,650,000

Newest Homes for Sale in Park City

Below are the newest homes and condos for sale in Park City UT listed in the last 7 days.


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Looking to Buy?

Searching for a new home in Park City can seem overwhelming when you are trying to manage all of the different housing options, areas, budget and financing. I live and breathe real estate in Park City and have helped many families find their dream homes here! I would love to help help your family find the best house or condo to suit your needs and budget. When you work with me, I’ll make sure you find the RIGHT home, and when you’re ready to make an offer, I’ll help you negotiate so you get the best price possible for your new home.

Sell Smarter with a Park City Real Estate Expert

I don’t just stick a sign in your yard and wait for other real estate agents to contact me. When you list with me, I have a cutting-edge marketing plan that will sell your home fast and for the most money. I will make sure your home is priced correctly, presented beautifully & exposed to the highest number of potential buyers right from the start. How do I help you?

1. Price your Home Right

Accurate pricing sells homes. I want your home to enter the market at the optimum price so it attracts more buyers. My FREE CMA includes data on Comparables’, Similar Homes, Past Solds’ & everything you need so together we can price your home right!

2. Market Data & Trends

Not quite ready to sell? That’s ok. Staying on top of the market will help you make the decision to move forward at the RIGHT time. My Monthly Market Data Report includes the latest information on what the real estate market is like in your neighborhood, average sale price, days on market, number of active properties & more.

3. See What’s Trending

Want to know how homes are selling near you? Stay up to date on the newest sales & trending properties in your area so you can list your home at the peak time!

4. Negotiate

When offers start to come in, I don’t just advise you to go for the highest price. I take the time to explain the pro’s and con’s of each offer and which one has the best probability of close. Then I help you negotiate to make sure your closing is smooth and surprise free. Choose me, Kristen Barber and Sell Smarter!

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Kristen Barber Park City Real Estate Agent, Park City Real Estate Market January 2023#1 DEER VALLEY REALTOR 2021

Kristen Barber Principal Broker for the Stein Collection Brokerage, Stein Eriksen Realty Group. She specializes in providing sophisticated service to buyers and sellers throughout the Park City area and the surrounding luxury communities.

She has a successful track record dominating the real estate sales at Stein Eriksen Lodge and Stein Eriksen Residences; listing and representing the vast majority of Stein’s condos bought and sold.