Source: KPCW —
Since the start of the COVID-19 pandemic, real estate prices in the Park City area have hit the stratosphere, while the number of homes for sale remains at record low levels.
Park City Board of Realtors President Mark Jacobsen said there are no homes listed inside Park City town limits under $2.5 million. Only two are below $3 million.
“In the basin, there are six homes listed under 1.5. Four of them are located in Summit Park. And in Silver Springs, there’s no homes under 2.5.”
Jacobsen said that single-family home prices in Park City are up 48% in the past two years. The basin area is up 46%, with Heber prices up 58 %.