Park City Blog

Utah, Salt Lake, and Another Business Accolade

By Berkshire Hathaway HomeServices Utah Properties
Aug 06, 2015

Business Facilities magazine – which focuses on corporate expansion and relocation – just issued their annual, much respected State Rankings report. As expected, Utah and Salt Lake came away with some serious plaudits. Here are some the rankings for our state and metro:

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State:

Economic Growth Potential: #1 Employment Leaders: #3

Best Business Climate: #5

Broadband Leaders: #6

Best Infrastructure: #8

Best Business Tax Climate: #9

Cities:

Job Growth Leaders: Provo – #2

Fastest Growing Metros: St. George – #5

Top Medical Device Hubs: Salt Lake – #6

Tech Jobs Leader: Salt Lake – #6

Economic Growth Potential: Salt Lake – #7

STEM Leader: Provo - #9

Utah and its dominant metros are growing at a clip. With the arrival of companies like Netflix, Adobe, Domo, Rakuten, Alliance Health, Overstock, Goldman Sachs, American Express, Skullcandy, Vivint, Backcountry, and others, we now boast one of the most robust state-level economies in the U.S. Further, we are poised to grow at a rate above domestic projections.

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What does this mean for real estate?

New housing. More housing. Influx of capital. Stability.

Our market remains complex and amounts to a patchwork of micro-markets with divergent trends and pricing, but overall northern Utah is in a moment of unprecedented, but measured growth. Our low employment rate and strong economy mean higher consumer confidence, which translates into a generally healthy real estate market.

Reach-out to your BHHS Utah Properties professional for guidance with regards to our market.

Summer Market Snapshot

By Berkshire Hathaway HomeServices Utah Properties
Jul 07, 2015

4th13

We're midway through the summer and the market is just heating up. From mountain biking and water sports, we hope you're enjoying all our mountain town has to offer. Over the last few years, our summer market, which picks-up up in July, has seen a robust increase in activity. More and more folks seem to fall into the category of "came for the winters, stayed for the summers." 

Overall, our market is busy. Inventory is moving quickly but your Realtor can help you find options and make a strategic moves within Park City's complicated market. Here's information you can trust as you begin to look at our summer market. 

Market snapshot. 

  • Current Days on Market for Single Family in Park City Proper: 59
  • Current Days on Market for Single Family in Snyderville Basin: 17
  • Average Single Family Sale Price in Park City Proper: 1.86 million
  • Median Single Family Sale Price in Park City Proper: 1.6 million
  • Average Single Family Sale Price in Snyderville Basin: 1.49 million
  • Median Single Family Sale Price in Snyderville Basin: $963,000
  • Average Condominium Sale Price in Park City Proper: 1.2 million
  • Median Condominium Sale Price in Park City Proper: $680,000
  • Average Condominium Sale Price in Snyderville Basin: $534,000
  • Median Condominium Sale Price in Snyderville Basin: $393,000
  • Average Vacant Land Sale Price in Park City Proper: 1.17 million
 

 
 
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