The Park City Board of Realtors statistics for March Year-to-Date 2010 show that Gross Sales Volume of $303M was up 107% from the same period in 2009, while prices increased 6%; however, there were substantial variations in each property category. More Single Family Homes and Condominiums were sold in the first quarter of 2010 than the comparative quarter of either 2008 or 2009.
Single Family Home Sales were approximately 43% of the total Sales Volume and were up 46% from 2009. Average Sales Prices were down 15%, however, in January 2009 there were 3 homes sold in Empire Pass that totaled over $16M and continued to impact the overall average.
Condominium Goss Sales Year-To-Date remained up 306% with sales at the St. Regis and Empire Pass/Flagstaff. Prices were up 87% due to the sale of the higher priced units.
Residential Lot sales dropped slightly in March with 12 lots sold, evenly spread among many areas and price ranges. There have been quite a few (54) new listings in Promontory since the beginning of the year. Red Ledges lots started off the year strong for golf community property.
Now is a great time to buy in Park City. The auction at the Lookout at Deer Valley was successful and they have now reduced prices on the remaining properties to the levels of the auction results. There will be another auction of approximately 25 properties on May 1, 2010. This auction will include a wide range of luxury properties. For complete details of each area, auction information, and all Park City Homes for
Sale, please contact Jim and Billie Harsch of Mountain Town Realty Group at http://www.unlockparkcity.com