Park City Condominium Market
Annual Report:
2009
| Median Condo Price
(Sold) |
$325,000 |
| Average Condo Price
(Sold) |
$481,648 |
| Low Condo Price
(Sold) |
$19,000 |
| High Condo Price
(Sold) |
$2,450,000 |
| Number of Condos Sold |
188 |
| Average Days on Market Until Sold |
113 |
________________________________________________________
|
Demand
|
Park City
sold 188 condos
during 2009, down
significantly from
Jul 2007 - June 2008
period. Condos stay
on the market for an
average of 113 days
until sold. It takes
an additional 23
days more than the
state average to
sell a condo in Park
City. |
|
Supply
|
Park City has 384
condos for sale
listed on the
market. It will take
an estimated 2 years
to sell these
condos. |
|
Price
|
Condo sold prices in
Park City averaged
$481,648 in 2009,
however the median
price was at
$325,000. Time share
condo sales have a
significant impact
in keeping the
median price low.
The average price
sold is $298,248
higher than the
state average. Park
City has the second
highest condo sold
price in the state
behind Salt Lake
City. Park City's
highest condo price
was $2,450,000. |
|
Conclusion
|
Due to high supply
and declining
prices, the Park
City Condo market
significantly favors
Buyers.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Park City Condos
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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.com
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