The Park City Board of Realtors statistics for November 2011 show that Gross Sales Volume was $66M, less than November 2010, with prices decreasing; and year–to-date sales of $996M are up 4% when compared to 2010, with prices about 11% lower. The number of transactions was up 17% so far this year. Distressed sales remain a very small percentage of active listings. Developments, such as River View, that have been on hold, are now slowly being re-released.
Single Family Home Sales remain at approximately 59% of the total Year-to-Date Sales Volume and are up 14% from 2010. Several areas are seeing very good activity and inventories are down, including Upper Deer Valley, Canyons, Willow Creek Estates and Trailside. Average Sales Prices are down slightly. New listings are down 16%.
Condominium sales for November were down 18% compared to November 2010, and Year-to-Date sales are still down 15%; however, 2010, was high due to the St. Regis and Silver Strike closings.
Residential Lot sales are actually rebounding and are up 11% Year-to-date. Promontory Sales are particularly strong, up 55%, due to the number of distressed sales. Red Ledges had a very strong summer with some aggressive promotions and close to 40 sales.
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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