The housing market in Park City continues to see strong price appreciation, with values up 38.7% compared to last year. Home prices have decreased 42.5% in the past month. With 3.3 months of supply, Park City's inventory levels remain relatively tight. Homes are taking about 28 days to sell, which is -10 days longer than this time last year. A significant 29.5% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 14.7% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Park City market with the affordability index at 2348.5. Based on current market indicators, home prices in Park City are projected to increase by approximately 6.4% over the next month.
Park City, UT has a total population of 11,089 residents. The area is predominantly White (68.0%), Hispanic/Latino residents represent 12.1% of the population. with Asian residents representing 3.2%. The area shows moderate demographic diversity. As a smaller community, Park City, UT offers a close-knit residential environment.
Crime analysis for Park City, UT shows 61 total incidents across all categories. The most prevalent crime type is Assault (45.9% of all incidents). This is followed by Property Crime at 41.0%. The crime rate in Park City, UT is very low, with violent crimes being more common than property crimes. This suggests Park City, UT is generally a safe area for residents and visitors.
Market predictions for Park City, UT show an upward trend in home prices, with values increasing by 4.5%. This suggests a gradual price adjustment in the market. The current median home price in Park City, UT is approximately $2,391,145.464. The stable price trend suggests a balanced market in Park City, UT, suitable for both buyers and sellers.
Park City, UT features 5 investment hotspots with varying levels of activity. The average nightly rate across hotspots is $738, indicating a premium market segment. Guest satisfaction is good with an average rating of 4.4/5. The high average hotspot score of 0.87 indicates excellent investment potential in these areas. The area is well-developed with 108 hotels, indicating established tourism infrastructure.
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