MARKET UPDATE | SECOND QUARTER

Current Market Overview Second Quarter stats are out. As ever, Park City's multi-faceted resort market remains complex. After carefully reviewing the numbers and interpreting them, here are our thoughts. -Our market is stable. While we are seeing gradually increasing prices and growth, it is measured and steady. There are no alarming trends with regards to sales price or inventory. -Buyers have options. While listing inventory feels constrained in the under $1 million market, new builds and good turnover in several of our neighborhoods mean that buyers still have a lot of options. In fact, taken as a whole our inventory is the highest it's been since 2007. -Two trends, one market. Homes valued under $1 million seem to be experiencing price increase; whereas, homes valued above $1 million seem to be readjusting. For example, the average sales price of single family homes in Park Meadows actually decreased this quarter and has been trending down this year. Reach-out for more in-depth information on your neighborhood.

Park City Proper | Pricing Old Town Single Family Homes Average Sale Price: $1.5 million Median Sale Price: $1.2 million Sales (Year to Date): 26 Upper Deer Valley Single Family Homes Average Sales Price: $3.4 million Median Sales Price: $2.8 million Sales (Year to Date): 7 Prospector Average Sales Price: $885,000 Median Sales Price: $835,000 Sales (Year to Date): 3 Park Meadows Single Family Homes Average Sales Price: $1.6 million Median Sales Price: $1.4 million Sales (Year to Date): 31 (up from 24 when compared to same time last year) Total Park City Limits Single Family Homes Average Sales Price: $1.9 million Median Sales Price: $1.5 million Total Sales (Year to Date): 82 (up from 75 in 2014) Notes on in town pricing: In Thaynes Canyon, the average sales price decreased by 15% when compared to last year. Contrarily, the average sales price of single family home in Prospector increased by 9%. Again, we seem to be seeing a readjustment of pricing above $1 million in traditionally local residential areas.

Basin | Pricing BASIN Sun Peak/Bear Hollow Single Family Homes Average Sales Price: $1.3 million Median Sales Price: $852,000 Total Sales (Year to Date): 30 (up from 25 at the same time last year) Silver Springs Area Average Sales Price: $988,000 Median Sales Price: $978,000 Total Sales (Year to Date): 16 (down from 19 last year) Pinebrook Average Sales Price: $833,000 Median Sales Price: $797,000 Total Sales (Year to Date): 22 Jeremy Ranch Average Sales Price: $956,000 Median Sales Price: $881,750 Total Sales (Year to Date): 20 (0% change from last year)

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