Here is a quick rundown of the real estate market here in Park City for the first half of 2015.

Overall the Number of closed sales and total dollar volume for the first half of 2015 are the highest since 2007 The total number of closed sales, year-to-date, for the entire market area was 9% higher than the first two quarters of 2014 and was the highest first half of any year since 2007, according to statistics released by the Park City Board of REALTORS®. The total dollar volume was up 11% and the median sales price continued to trend upward on a gentle curve in most areas. The Summit and Wasatch County market remains highly segmented; some market segments are drifting down while others are moving up.

Single Family Home Sales:  The median sales price for a single family home within the City Limits (84060) over the past twelve months has remained close to $1.34 million, while the average price has actually come down 11%. Old Town experienced a marked increase of activity with a 28% higher number of home sales and a slight increase in median sales price to $1.21 million. The sales price in Prospector climbed 8%, reaching $700,000, with almost double the number of sales compared to the previous four quarters. The number of sales in Park Meadows was up a healthy 24% (with 31 sales already this year) and had a median sales price of just under $1.38 million.

Within the Snyderville Basin (84098), the median sales price for a single family home was $850,000, up 18% from one year ago. In the Basin, Promontory had the highest number of sales with a median sales price of about $1.56 million, 3% less than 12 months ago. The number of sales was down 21% in Silver Springs, but the median sales price was up ($850,000).

Year-over-year, the median sales price has come up slightly in other neighborhoods including Jeremy Ranch ($850,000), Pinebrook ($780,000), and Trailside Park ($619,000). The Canyons area jumped in median sales price to $5.475 million, primarily due to home sales in The Colony. Growth continued in the Jordanelle area with an increase in the number of sales and median price ($838,000). The Heber Valley was up 17% in number of sales with a median sales price of $345,000.

Next week’s Blog I will address the Condominium and Vacant Lot markets for the first six months of 2015