Single Family Homes
Well this week in Park City real estate has been fairly slow. Compared to our previous week's of sales, which typically consist of 9 or so sales, this week we only had 5 single family homes sold. Two of these homes sold for over 1 million and there was also a significant sale for over 3 million in Glenwild which is great to see. I am a big fan of the Glenwild golf community as it is truly the best of the best when it comes to private golf residences. Check out the Glenwild real estate page to see more. The luxury real estate market in Park City is still averaging about 2 sales per week in the single family home arena which is always encouraging. Great deals to be had at this price point! Other sales occurred in Pinebrook, Silver Creek, and Highland Estates.
Condos & Townhomes
We also only had 5 sales on condominiums in the Park City area this week. Most of these sales were on the lower end of the pricing spectrum this week as some distressed inventory is being picked up. One sale in The Cove at Eagle Mountain was just under the 800k mark and the rest were mainly under 200k. Sales occurred at the Canyons, Redstone, and in Prospector. Much lower than we have seen in the previous weeks that I have been tracking the weekly sales here on this blog.
Park City has been very active in the weeks leading up to this point so I am very optimistic that this is a slow week for the market and the sales will begin to increase. While the sales prices of real estate were lower than normal, there were a number of distress sale properties in this list that are typically being picked up by investors. I feature many of these properties on a weekly Foreclosure Reportthat I send out to clients looking for distressed inventory so I encourage you to sign up to see all of these deals hit the market.
Tune in next week to see the latest sales, statistics, and thoughts of the current real estate market!