The recently released statistics by the Park City Multiple Listing Service reveal a sustained slowdown in our market during the 2nd Quarter of 2023. Across all property types, sales volumes have generally declined, and pricing activity has shown mixed results. While some areas experienced a decrease in median sale prices, others continued to witness price increases. Our market is quite diverse, leading to significant variations in performance, with some property types and locations faring better than others.

One major contributing factor to the current state of the market is the limited inventory, which is affected by broader market influences like the prevailing interest rate environment. For more comprehensive insights or if you have any questions regarding the performance of specific areas of interest, feel free to reach out.

Enjoy the warm weather and the long summer days!

Interest Rates as of July 25, 2023

Market Snapshot

12-Month Rolling Year-Over-Year   |   July 2021 - June 2022  vs  July 2022 - June 2023

Single-Family Homes by Neighborhood

 

Condominiums by Neighborhood

Vacant Land by Neighborhood or Area

Upcoming Event - Kimball Arts Festival

Make sure not to miss out on the annual Kimball Arts Festivals, which are renowned as one of the top arts festivals nationwide! This three-day, outdoor celebration of the arts is a standout event in Park City and a highly esteemed program organized by the Kimball Art Center. The Festival features the impressive work of artists selected through a jury process, emphasizing the diverse ways in which art brings people together. Attendees can enjoy immersive and interactive art experiences, as well as captivating performances on two outdoor stages, courtesy of the collaboration with Mountain Town Music. Moreover, local food trucks, artisan tasting tents, and outdoor dining decks will provide a delightful array of culinary delights. We hope to see you there!

For more information, visit KimballArtsFestival.org.