The Park City Board of Realtors statistics for August 2011 show that Gross Sales Volume grew $96M, up 12% from August 2010, with prices slightly decreasing; and year–to-date sales of $759M are up 7% when compared to 2010. The number of transactions was up 22% so far this year and pending sales are up 21% including two homes in Bald Eagle. Distressed sales remain a very small percentage of active listings.
Single Family Home Sales remain at approximately 57% of the total Year-to-Date Sales Volume and are up 22% from 2010. Several areas are seeing very good activity and inventories are down, including Upper Deer Valley, Canyons, Old Ranch Road Area and Trailside. Average Sales Prices are up slightly. New listings are down 16%.
Condominium sales more than doubled in August with several sales in Empire Pass including an $8M penthouse at the Montage, and Year-to-Date sales are still down 17%; however, 2010, was high due to the St. Regis and Silver Strike closings.
Residential Lot sales are actually rebounding and are up 22% Year-to-date. Promontory Sales are particularly strong due to the number of distressed sales and Red Ledges had a very strong summer with some aggressive promotions.
Now is a great time to buy in Park City. Fall color is starting to come out and it won’t be long until the season changes.
For complete details of each area and all Park City Homes for Sale, please contact Jim and Billie Harsch of Mountain Town Realty Group at http://www.unlockparkcity.com
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