Summer Market Update

We're midway through the summer and the market is just heating up. From mountain biking and water sports, we hope you're enjoying all our mountain town has to offer. Over the last few years, our summer market, which picks-up up in July, has seen a robust increase in activity. More and more folks seem to fall into the category of "came for the winters, stayed for the summers."

Overall, our market is busy. Inventory is moving quickly but your Realtor can help you find options and make a strategic moves within Park City's complicated market. Here's information you can trust as you begin to look at our summer market.

Market snapshot. 

• Current Days on Market for Single Family in Park City Proper: 59
• Current Days on Market for Single Family in Snyderville Basin: 17
• Average Single Family Sale Price in Park City Proper: 1.86 million
• Median Single Family Sale Price in Park City Proper: 1.6 million
• Average Single Family Sale Price in Snyderville Basin: 1.49 million
• Median Single Family Sale Price in Snyderville Basin: $963,000
• Average Condominium Sale Price in Park City Proper: 1.2 million
• Median Condominium Sale Price in Park City Proper: $680,000
• Average Condominium Sale Price in Snyderville Basin: $534,000
• Median Condominium Sale Price in Snyderville Basin: $393,000
• Average Vacant Land Sale Price in Park City Proper: 1.17 million

The Basin

The basin, which encompasses Canyons, Sun Peak/Bear Hollow, Old Ranch Road/Silver Springs, Kimball Junction, Pinebrook, Summit Park, Jeremy Ranch, Glenwild/Silver Creek, and Trailside, represents one of Park City's most authentic residential zones. With a wide array of product types and price points, the basin is a great area to hone in on if you're looking for a true Park City neighborhood with its own off-main retail, food, and recreation offerings.

Two bases under one brand. 

According to Margo Christiansen at Vail Resorts: "For the 2015-2016 ski season, the company intends to operate the two resorts as one unified branded experience under the name "Park City Mountain Resort". The Canyons base area will be renamed "Canyons at Park City". The company will continue to maintain the unique history and atmosphere of the two base areas with differentiated marketing for the diverse hotel and hospitality experiences."

There seems to be a new update everyday from the folks at Vail Resorts. It's been incredible to witness the construction of lifts, restaurants, and runs taking place this summer. The gondola interconnect and the new Snow Hut restaurant are proceeding at an astounding rate. Keep an eye out as your hike and bike in Park City for the many signs of Vail's $50 million improvement plan.

While we're thoroughly taking advantage of Park City's spectacular summer, we can't help getting excited for next ski season...