Park City Quarterly Stats

By Ramon Gomez, Jr.
Nov 01, 2017

The Park City Board of REALTORS® has released year over year quarterly statistics for Summit and Wasatch Counties.  The overall real estate market continues to be healthy, stable, and growing at sustainable rates. 

The number of single family market transactions and the median sales price grew at 7% and 7% respectively over the past year.  The bulk of these sales occurred outside the Park City Limits as buyers searched for properties that fit their lifestyle and budget.  The condominium market transactions and median sales price grew at 10% and 10% respectively over the past year.  These sales were spread more evenly across the Summit and Wasatch markets.

Sara Werbelow, President of the Park City Board of REALTORS® commented, “The real estate market is solid.  We have sufficient inventory to meet our client’s needs.  Prices do continue to escalate, but at a reasonable pace.”

Remember that these are overall statistics and are simply a snapshot at a moment in time and may not be representative of long-term trends.  The Summit and Wasatch markets are composed of numerous diverse micro-markets.  More granular statistics are shown below.  Buyers and sellers are encouraged to contact a member of the Park City Board of REALTORS® to find answers to specific real estate related inquiries and fully understand trends in the overall market and specific areas of interest.

Year-Over-Year Single Family Home Sales

The number of sales inside the Park City Limits increased by 12% and median price increased 18%.


  • Park Meadows sales increased 15% and median price increased 21%.
  • Old town sales increased 15% and median price increased 11%.
  • Lower Deer Valley sales decreased 19% but median sales price increased 8%.
The number of sales in the Snyderville Basin increased 9% and median sales price increased 2%.


  • Sales in The Canyons increased 14% and but median price decreased 26%.
  • Sales in the Silver Springs area decreased 6% but median price increased 4%.
  • Pinebrook sales were flat but median sales price increased 13%.
  • Jeremy Ranch sales increased 27% and median sales price increased 5%.
  • Promontory Sales increased 13% and median sales price decreased 12%.
Jordanelle sales increased 15% and median price increased 34%.

Heber Valley sales decreased 9% and the median price increased 4%.

Kamas Valley sales increased 32% and the median price decreased 5%.


  • Kamas and Marion sales increased 135% and median price increased 7%.
  • Oakley and Weber Canyon sales increased 5% and median price decreased 10%.
  • Wanship, Hoytsville, Coalville, Echo, & Henefer sales increased 54% and median price increased 17%.
Year-Over-Year Condominium Sales

Sales inside Park City Limits increased 28% and the median price increased 21%.


  • Old Town sales increased 28% and the median price increased 9%.
  • Lower Deer Valley sales increased 7% and the median price dipped 3%.
  • Prospector sales decreased 4% and the median price dropped 3%.
Snyderville Basin sales decreased 9% and the median price increased 6%.


  • The Canyons sales decreased 13% and the median price dipped 1%.
  • Kimball sales increased 6% and the median price increased 10%.
  • Pinebrook sales decreased 16% and the median price increased 3%.
Jordanelle sales increased 17% and the median price dropped 5%.

Heber Valley sales increased 10% and the median price increased 21%.


Clearly each micro-market has its own character and story.  Simply reviewing the numbers is not sufficient to understand the big picture.  Individual markets can be influenced by a number of factors including specific sales that can skew the statistics.  In addition, amenities, property condition, location, and new construction impact the numbers.  The only sure way to fully understand the local real estate market is to contact a member of the Park City Board of REALTORS®.

Third Quarter Market Overview

By Ramon Gomez, Jr.
Oct 24, 2017

This comprehensive third quarter market report provides an overview of the Summit and Wasatch County real estate market. We believe our clients should have access to information that facilitates thoughtful real estate decisions. The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, features, and amenities. For example, while Park Meadows and Upper Deer Valley share the same zip code, average home prices in these two neighborhoods vary significantly.

Our predictions: Overall, compared to this time last year, we have seen a significant increase in the number of resort properties sold in Deer Valley as well as single family homes sold in the Heber Valley. As Vail Resorts® continues their commitment to Park City Mountain, especially in the upgrades throughout the Canyons Village, as well as Deer Valley® Resort’s #1 Ski Resort ranking from Ski Magazine, we believe these factors will support strong winter sales. Throughout the Wasatch Back the number of properties sold has increased approximately 17% compared to this time last year with an approximate 8% increase in average price. Finally, we expect additional new developments to come to market in 2018 in the Jordanelle, Heber, and Canyons areas. Now, more than ever, is the time to call Park City and the surrounding areas home. Data interpretation, judgment, and historical context are key elements to making informed decisions, let us know how we can help.

Park City Proper - The heart of Park City spans from the world-class Deer Valley® Resort to the iconic white barn, McPolin Farm. Park City Proper includes the neighborhoods: Old Town, Thaynes Canyon, Deer Valley, Aerie, Prospector, and Park Meadows.

Snyderville Basin begins at the iconic white barn, McPolin Farm, off Highway 224 and includes the neighborhoods: The Canyons, The Colony, Sun Peak, Bear Hollow, Silver Springs, Old Ranch Road, Kimball, Pinebrook, Summit Park, Jeremy Ranch, Glenwild, Silver Creek, Trailside Park, Silver Creek, Promontory, and Quinn’s Junction.

Jordanelle is the picturesque area surrounding the Jordanelle Reservoir. Just minutes from Park City this area includes communities such as Hideout Canyon, Tuhaye, Victory Ranch, Soaring Hawk, and more.



Open space and farmland encompass the scenic Heber Valley. This area features remarkable views of Mount Timpanogos and countless recreational opportunities. The Heber Valley includes the neighborhoods of Midway, Charleston, Provo Canyon, Heber, Daniel, and Timberlakes.

East Summit County - Known as the “Gateway to the Uintas,” the charming Kamas Valley within East Summit County boasts endless outdoor activities. The East Summit County area includes the neighborhoods of Woodland, Francis, Kamas, Marion, Oakley, Weber Canyon, Peoa, Browns Canyon, Wanship, Hoytsville, Coalville, Echo, and Henefer.

If you have any questions about the reports above feel free to reach out anytime. Have a great week - Ramon and Judy Gomez

Second Quarter Park City Market Update

By Ramon Gomez, Jr.
Jul 27, 2016


The total sum of all sold transactions in Park City from the first six months of 2016 suggests steady, but measured growth. The total volume of sales, roughly $800,200,000, is up 12% from the same time last year. This increase in sales volume can be attributed to a 20% increase in Single Family homes during the first six months of this calendar year.


Sales volume is up: The number of closed properties in Park City showed a recovery from a slight downturn in the first quarter of this calendar year. Looking year-over-year, closed sales have remained fairly flat the last four years with the number of closed transactions at the second quarter benchmark remaining right around 400.

Sales are steady and have been for the last four years: Listing inventory in Park City, while still a bit constrained, has remained level for the last 12 months. There are currently 1,186 listings as of July 1 of 2016 compared to 1,170 from the same time last year, suggesting a stabilized inventory level.

Listing inventory has remained steady at around 1,000 active listings for the past 2 years: The current absorption rate, which is the rate at which available homes are sold in a specific market during a time period, suggests a much higher demand for anything under $660,000 for condos and anything under $1.6 million for family homes. Condos under $660,000 have an absorption rate of 4.6 months; whereas, condos over $660,000 have an absorption rate of 15.4 months. As the absorption rate is calculated by looking at the ration between available homes and monthly sales, these indicators suggest the importance of accurately pricing with the help of a seasoned professional. Overall, the absorption rate is gradually decreasing.

The absorption rate is decreasing, suggesting the importance of accurate pricing and strong buyer demand at the right price point: Prices are increasing both in and around Park City at a steady clip. Since January of 2012, the median price of single family homes in Park City has increased at an average of 7.2% per calendar year. The rolling median is up 12% from 2015, with the average price of single family homes increasing at a rate of 12.8%, suggesting a bullish local market. Prices are increasing, but a gradual rate.

The Condominium Market is also doing well and here are some tips to help you prepare your condo for the Park City market.

Decide when to sell your condo - time of year, current competition in your building and similar buildings, your personal goals and the state of the overall real estate market will affect the sale of your condo.

Prepare your condo for sale - declutter, stage every room for optimal use, and clean every inch. Optimize your storage by decluttering parking space(s) and lockers too.

Pricing your condo - important factors include views, ceiling height, layout, location in the building and the size of the condo. Supply & Demand in your building and similar buildings will affect price as well as recent renovations, maintenance fees, developer upgrades, parking, outdoor space, amenities, reputation of building and the ratio of renters to owners.

Marketing - your agent will market your condo with high resolution photos, brochures, flyers, videos, 3D tours, host open houses and be at every showing.

Our team is here to help market OR find your next home or condominium in the Park City area. Let us put our 18+ years of service to work for you.


Click here to view our Berkshire Hathaway Living Mountain Real Estate Guide


Click here to view our Berkshire Hathaway Local Neighborhood Guide

Visit our website for more information or give us a call to discuss Park City real estate.

2016 Quarter One Stats in Park City

By Ramon Gomez, Jr.
May 13, 2016


Our first quarter comparison of Park City market stats are from Quarter One 2015 compared to Quarter One 2016 and this week we are focusing on the Snyderville Basin. Click here for a short video on Snyderville Basin.

Snyderville Basin Single Family Homes - Sales for the 1st quarter of 2016 compared to the 1st quarter of 2015 show a 12.2% increase in Median Prices with a Total Volume up 15.2% which shows up as a 15% increase in average home sales from the 2015 1st quarter as compared to 2016's 1st quarter - this is partially due to home listings being down by 6.1% from 2015.

Snyderville Basin Condos - Comparing 1st quarter 2015 to 1st quarter 2016 this year's inventory is up 7.8% with Median Prices up by 7.7% and an Average Sale Price up 9% from the 2015 1st quarter stats.

Snyderville Basin Vacant Land - the 1st quarter 0f 2016 as compared to the 1st quarter 0f 2015 shows a listing inventory increase of 3.5% (10 lots) and a 14.5% increase in sales transactions with  the Median Sales price 44% higher than in 2015. 2016 also brings a 14% increase in Average Lot Prices from $472,000 in 2015 compared to $541,000 in the first quarter of 2016.

Next week we will focus on Old Town Park City and 1st quarter comparisons in the first quarter 2015 compared to the 1st quarter 2016. In the meantime, here's the latest information on the PCMR parking garage project as City Hall addresses the situation amid talks about lower Park Avenue. Also, remember that Savor the Summit 2016 is coming up quickly and tickets won't last long - We have our tickets for Park City's largest dinner party and we hope to see you there.

Don't forget to check out downtown Park City during shoulder season and 11 Things On Our Love List This Spring in Historic Park City!

Would you like more stats on the Park City market or a detailed market report on your home - give us a call or check out our website for all the properties listed in the Park City area.

Thank you Rick Klein of Wells Fargo Mortgage for providing the Park City Quarter 1 Stats.

Park City Stats Review

By Ramon Gomez, Jr.
Feb 10, 2016

IMG_4853Last week we touched briefly on real estate stats in Park City and I wanted to share some more about the local market. Rick Klein provided our team with  informational graphs reflecting the 2015 real estate market in the Greater Park City area and we would like to share some with you. The  Berkshire Hathaway HomeServices Utah Properties 2015 Market Report is also now available and covers both Summit and Wasatch County.

The stats in this first graph reflect that closed sales show a slow, but consistent increase starting in 2009 with a 23.6% increase in home sales from 2012 to 2015. (Condos are in purple, Single Family homes are in pink and Vacant Land is in yellow)Chart 14 for Blog.jpeg




The next graph reflects the local Condo market showing prices in our current market versus the high and low points in the market between 2008 to 2015.statsblog2




The following graph reflects the Single Family home market showing prices in the same way as the graph above with current market numbers versus the high and low points in prices between 2008 and 2015.






Overall, the last 12 months of residence prices in the Greater Park City area are 6.1% over the residence prices in 2014 and 14.7% over the residence prices in 2013.blog4.jpeg




As our market continues to grow, Park City keeps finding its way into the news with The Dallas Morning News recently postingGo big: Ski Utah's mega-resort  which shares our local Waldorf Astoria's recent four-star rating by Forbes.  Utah as a whole has also been in the news as Fodor's Travel rated Utah the Top Destination in the World to Visit in 2016. And even though Sundance has come and gone for 2016 here are the winners as shared by Kate Erbland of Indiewire.

If you would like more information on the stats above or any of the information we have shared today remember that we are just a click or call away and our team is here to help you with all your real estate needs.

Property Prices Rise in 2015

By Ramon Gomez, Jr.
Jan 28, 2016


The year-end statistics reported by the Park City Board of REALTORS® indicated a consistent annual increase in both the number of closed sales and the median sales price for single family homes, condominiums and vacant lots in Summit and Wasatch Counties. Click on the highlighted neighborhoods below for a short video about that community and check out the latest

Park City - Market Update

By Ramon Gomez, Jr.
Dec 30, 2015

855533.largeHere's a domestic market overview to keep you in the loop with real estate trends. Overall, the Park City market looks strong but measured; meaning, prices in Park City and surrounding areas are increasing just above the national average. One of the trends to note is the overall growth of the Western regional areas. Homes prices in the West are up +7.3%, which is more than any other geographical region in the United States. Check out our website or give us a call and we would be happy to share more details and information about your favorite neighborhoods in Park City.

If you are in Park City now or coming into town soon we have some great upcoming events - check out the links below for more information.

12/30 Torchlight Parade at Deer Valley

12/30 -1/2 Gallagher-the Comedian at Egyptian Theatre

12/31 New Year's Eve Celebration with Fireworks at Canyons Village

1/6 - 1/10 Village People at Egyptian Theatre

1/9 An Evening with the Creators of Invisible Thread at Eccles Center

1/11 - 1/16 IBSF Bobsled and Skeleton World Cup

1/21 -1/31 Sundance Film Festival

All Month Park City Film Series

All Month Ritual Chocolate Factory Tours

All Month Snowshoe Tours at Swaner Nature Preserve

  1. Kailyn says:

    It's good to get a fresh way of loionkg at it.

Park City Condominium and Vacant Land Stats

By Ramon Gomez, Jr.
Aug 05, 2015


Here are the Stats for Condominium and Vacant Land for the first six months of 2015

Condominium Sales:  There continued to be a high proportion of condominium sales. The number of sales for the entire market area at quarter end was 9% higher than the previous twelve months, with a 14% overall increase in median sales price.

Though there were fewer sales in Old Town than the previous four quarters, the median sales price increased to $445,000 – up 21%. By neighborhood, Prospector had the highest jump in number of sales, also with a median sales price increase reaching $132,000. Lower Deer Valley experienced market absorption in the condo sector with more than double the number of sales along with a 15% median sales price increase to $735,000. “After a prolonged period of limited demand and soft pricing, Lower Deer Valley condominiums are showing good signs of recovery.  As locations closer to the ski resorts become limited due to inventory issues, buyers are turning to older product in Lower Deer Valley for value,” per our incoming Board President Rick Shand.

Similar to the single family home market, the number of condo sales in Snyderville Basin increased steadily in quantity sold, dollar volume, and median sales price. Year-over-year, quantity sold was up by 21% in the Basin with a 13% price increase to $380,000. In Kimball Junction the median sales price increased slightly to $245,000. The Canyons area, with its wide-ranging property types, was up 41% in the number of sales over the previous four quarters with a median sales price of $389,000. Jeremy Ranch showed an increase of activity with 58% more sales than the previous four quarters and a price increase to $535,000. With new construction continuing in the Jordanelle area, both the number of sales and the median sales price of $439,000 were slightly higher than the four quarters of the previous year.

Vacant Land Sales:  The number of Vacant Land sales for the entire market area was slightly higher than the previous four quarters and lot prices increased 10% in median sales price. Lower Deer Valley was up in both quantity sold and median sales price ($523,000). Lots in Old Town ($562,000) and Park Meadows ($858,000) increased in median sales price from what they were the previous year. In the Snyderville Basin, neighborhoods with price increases were Trailside Park ($317,500), Glenwild/Silver Creek ($400,000), Promontory ($312,500), and Pinebrook ($190,000). The Jordanelle area continued to grow, with lot sales up 21% and a median sales price of $208,000. The Heber Valley saw a similar quantity sold compared to the previous four quarters with a 5% price increase reaching $195,000.

Looking Ahead:  We appear to be in a relatively stable market with short sales and foreclosures at pre-recession levels. The number of days a property remains on the market has been consistently low over the past few years, as well as, the number of active listings on the market at any one time. Low inventory has been a consistent factor in our market area since the third quarter of 2012, but as of July 1, inventory was the highest it has been in a year. The varying property types and desirability of certain neighborhoods over others make the Greater Park City area a highly segmented and complex market of submarkets.

More than ever, buyers and sellers are wise to enlist the services of a local REALTOR®. So please contact me if you are interested in more information about any segment of our market. It will be my pleasure to assist you with your real estate needs.

Park City Market Report

By Ramon Gomez, Jr.
Jul 30, 2015


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

Social Network

By Ramon Gomez, Jr.
Jul 01, 2015


Our business continues to grow and we are pleased to launch our new website to help with all your real estate needs in the greater Park City area. I have just recently started doing a weekly blog and the response has been great.

From our website you can search the Multiple Listing Service and link to our Facebook page for recent posts. We will continue to add videos and update the blog weekly to share the latest and greatest in Park City.

From Ski Runs To Fairways

By Ramon Gomez, Jr.
Jun 18, 2015


March 26, 2015

At this time of year as we wind down our ski season here in Park City, many of us start dreaming about our great mountain golf courses, and can't wait for our favorite club to open. So I thought I would take moment of your time to let you know...since I have spent over 15 years managing fine private golf & country clubs throughout the country I am now directing my real estate team to focus on the fine private golf communities right here in the Park City area. There are not many places in the world where you can own property that has both world class skiing and golfing in the same area.

With my local knowledge and experience in private golfing communities I can assist you in finding the right private golf community for you and your family. Allow me to assist you in evaluating the many fine options each private club and community offer. Since I don't represent just one community, I can fairly and objectively match your criteria to the club & community that matches your needs....let my experience in private clubs benefit you!

In my following blogs I will be providing information on these Great Golf Communities....Glenwild, Promontory, Red Ledges, Tuhaye, and Victory Ranch.

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