QUARTER 3 MARKET STATS

View the full report here

 

Our Utah real estate markets remain strong as we continue to benefit
from the many factors that draw people and business to our state:
• Attractive Business Environment
• Educated Workforce
• Low Unemployment
• Low State and Local Taxes
• New State-of-the-Art International Airport
• Healthy Lifestyles
• Abundant Outdoor Activities

This statistical report is based on the 12-month period, beginning
October 1, 2021 ending September 30, 2022, and is compared to the
same time frame the prior year. In addition, we show the past five years
of changes to provide historical context. We know how important it
is to you to have access to information that promotes thoughtful real
estate decisions. We continue to see an active market as we analyze the
3rd Quarter of 2022. During the summer months inventory started to
gradually increase; yet the level is still historically very low.
Growth in the Synderville Basin, Jordanelle, and Heber Valley has continued
to benefit significantly from new construction, as our housing footprint
expands to areas surrounding Park City Proper. Buyers and sellers are
adjusting to the tempering of our market and balancing mixed economic
signals of inflation, recession, interest rates, continuation of remote work
environments, full employment, and all-time highs of household wealth. We
see no signs of a new “housing bubble” emerging, but rather a return to
historical norms…. still very positive for the Wasatch Back.
The Wasatch Back is outperforming nearly all other markets around the
country. Limited inventory and relatively strong demand have caused our
median and average sales prices to rise although not at the rapid pace
of the pandemic years. Consumers are increasingly discerning. The
Wasatch Back offers an amazing lifestyle and peace of mind that is in
limited supply nationally.

 

Matthew Magnotta
Realtor
Ph: 435.602.0904
Email: [email protected]

 

Whether you are looking to buy or sell Park City Real Estate, our team of Realtors is here to help. Over the past 5 years, we’ve sold over $500 million in property in Deer Valley, Empire Pass, Old Town Park City, the Canyons, Hideout, Tuhaye, and all surrounding areas. We strive to be the best realtor in Park City and no job is too big or too small. Deer Valley homes, Park City condos, Empire Pass ski-in ski-out properties, Hideout lots and New Construction is all in our wheelhouse so please don’t hesitate with the simplest of questions. We look forward to hearing from you so please reach out with your questions! Matthew Magnotta ([email protected]) Lindsey Holmes ([email protected]) Brad Erickson ([email protected]

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