Market Pulse 2023
Newsletters - 1 Minute Read
1/30/2024
This newsletter reviews the 2023 market stats. The overarching theme is a return to pre-Covid "normal".
The statistical highlights are:
- Overall Median Sales Price: increased 3% with single family homes reaching $1,650,000 and condos achieving $1.136,000
- Overall Sales Volume: decreased by 2% for single family homes and 19% for condos
- Pending Sales: In the seven months from June through December of 2023, PCMLS members signed 1,260 residential purchase contracts, 20% more than the previous year (1,054).
- Variation Across Market: pricing was variable across the broader market, dependent on property type and neighborhood. For example, median prices for condominiums in Park City proper were up 8%, while most other areas were either flat or showed a slight decrease.
- Park City Limits: single family homes experienced a 5% decrease in median price yet registers an eye popping $3,690,000
- Snyderville Basin: single family home median price increased in value by 7% to $2,260,000
- Jordanelle: single family home increased 94% to $3,180,000 due to higher end new developments
Andy Krumel – andy@slopestylerealty.com
Andy is a former naval aviator and Silicon Valley entrepreneur, having spent over 15 years delivering groundbreaking mobile and SAAS products. Andy brings his technical experience and innovative approaches to Slope Style Realty and KW Park City Keller Williams as a licensed Realtor.
