2018 Park City Housing Market Overview

2018 4th quarter real estate sales ended on a downturn compared to the rest of the year. I was personally slower in Q4 than the very robust first three quarters of 2018. Many believe it was because of the election year. Colleagues I networked with at a recent conference felt the same slowdown. Those colleagues are from the San Francisco Bay area, Silicon Valley, Marin County, and many other ski resort markets throughout the mountain west. The good news is that the first quarter of 2019 is starting off at a brisk pace. I have personally experienced multiple deals and several clients have booked trips to Park City to tour property. It’s looking hopeful that the slowdown of Q4 sales was a hiccup instead of a trend.

Overall:

1. Closed sales for Q4 declined 10.5% over Q4 of 2017

2. Demand for Park City real estate in general has been consistent since 2013.

3. Total dollar sales continue to increase with a slight gain of 1.5% over 2017.

For more detailed information about a specific neighborhood in Park City, please give me a call at 801-550-7563. I have a breakdown by neighborhood, single family homes, condos and vacant land.