Market Update - Park City Compared

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Every quarter the Western Mountain Resort Alliance compares several of the leading western resort town real estate markets. Based on these numbers, the resort market in general looks very strong. Across the board, statistical evidence suggests that resort markets are healthy with measured, steady growth.

One of the more surprising figures to arise in the Second Quarter report was the extent to which Park City leads other comparative markets in terms of sold volume. Total volume sold this quarter in Park City amounted to $461 million. For comparison, Tahoe reported the next highest sold volume with $386 million, and Teton (Jackson) reported $190 million. Our market remains segmented, but there's no doubt that inventory is moving.

On the other hand, our single family median and average sales prices are right in the middle of numbers reported by other towns. Our median single family home sales price of $775,000 sits below that of Whistler ($1.4 million), Teton ($1.2 million), and Big Sky ($873,000) but above that of Steamboat ($478,000), Tahoe ($548,000), and Sun Valley ($449,000).  This suggests that our pricing is stable and reasonable when compared to other resort marketplaces.

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