UPDATE Deer Valley
Jim Barth & Associates
A HIGHER STANDARD tm
Vol. I Issue 2 Summer 2012
P.O. Box 4527 Park City, Utah 84060 | 435-901-3050 | www.DeerValleyReport.com
2012 Year-T0-Date Spotlight
Jim Barth Associate Broker
Single-Family Homes Gain Momentum
ingle-family home sales for the first half of 2012 in Deer Valley® Resort increased 57% over the same period last year, according to the Park City Board of Realtors.® The most noteworthy change was in Deer Crest, where $32 million in sales were recorded – more than all of 2010 and 2011 combined. In Lower Deer Valley,® eight sales have recorded so far this year compared to five last year – a good indicator that inventory is being absorbed at a healthier pace.
here seems to be a trend toward growth in the Deer Valley® condominium market, primarily in the Silver Lake Village area. Overall, prices have increased from $1.5 million to $1.75 million, indicating a loosening in the market.
Year-to-date, the number of single-family home sales in Upper Deer Valley® are down compared to last year, which was a banner year; however, prices are up 16%.
In Empire Pass, condominium sales sharply declined, primarily fueled by last year’s “honeymoon” period at Montage Deer Valley, which closed 10 units in the first half of the year, compared to three closings so far in 2012. Although these figures reflect an overall buyer’s market in the Deer Valley® area, the latest trends indicate positive movement toward market equilibrium.
For more detailed information, contact Jim at 435-901-3050 or JBarth@DeerValleyReport.com.
® - AMILY ® DEER VALLEYDEER SINGLE -F SALES SUMMARY VALLEY CONDOMINIUMS
DEER VALLEY® SINGLE-FAMILY HOMES TOTAL SOLD VOLUME BY AREA MID-YEAR COMPARISON
Lower Deer Valley
Upper Deer Valley
Total Sold Volume
Average List Price Average Sold Price