Park City Market Snapshot

Third Quarter, 2012

1. Park City September, 2012 pended sales were the highest since early 2012.
2. Park City existing home sales rose 7% in September to 120 and are 10.1% higher than last September.
3. Park City closed sales are up 100% since 2009.
4. Fifty-two percent of Park City buyers paid for their real estate purchase with cash this year.
5. The supply of Park City listings is the second lowest level since January, 2007.
6. Distressed sales represented 13.5% of all sales in 2012.[10% REO/Bank owned and 3.5% short sales].  This is down from 27% of all sales in 2011.  Less than 6% of our current listing inventory is made up of distressed properties.
7. The median home price of $469,375 is essentially flat from one year ago.

Thanks to Rick Klein, Wells Fargo Home Mortgage for this information.  If you would like a copy of Rick’s full slide show, let me know and I will email it to you.