U.S. Residential Real Estate – Statistics

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Although the national economy is still in a volatile state with annual growth below two percent and unemployment hovering around eight percent, the housing market, by most indicators, is moving steadily in a positive direction. Homes sales continue to improve from month to month across the nation and home prices are rising.

According to the National Association of Home Builders there were approximately 368,000 new homes sold across the country in 2012, up substantially from 2011 when there were only 305,000 new homes sold. The same report noted that at the end of December 2012 there was a 4.9 month’s supply of new homes in the nation compared to a 5.4 month’s supply at the same time in 2011. The National Association of Realtors reports existing home sales were up 9.2% and new home sales were up 20% in 2012. The existing home inventory is at a seven year low with a 4.4 month’s supply of homes. Nationally, the market is shifting away from the buyer’s market that we have been experiencing for the past several years. Generally, a six month supply is considered a good balance between a buyer’s and seller’s market.

As the number of homes sold increases and the inventory shrinks there is pressure being put on housing prices. Home prices jumped 8.3% in December compared to the same time a year earlier based on a report by CoreLogic, a real estate data provider. This is the biggest gain on an annual basis since early in 2006. According to the same report, home prices rose in 46 of the 50 states – the top 5 states with home price increases were all in the west. The effect of the pricing increases is that more homeowners may be willing to put their properties on the market and buyers may be more anxious to purchase before prices rise further, helping fuel the housing recovery.

Sometimes I am hard to catch.  If you try me at the following places, you will have a much better chance of finding me:

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Kristen Johnson
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2012 Top Home Sale Prices in Park City

And the winner is… a $11,225,000 home in Deer Crest!

Park City, and the Deer Valley area in particular, still remains one of the most affordable luxury ski destinations in the country which rivals the likes of Aspen and Vail. 

Deer Crest

#1 10282 N Summit View Dr – Deer Crest : $11,225,000

This home sold in October coming in at #1 for the year at $11M. A total of 17,000 square feet with 7 bedrooms and 11 bathrooms, this is a very large and luxurious estate home in the Deer Crest area. This ski home sits on 2.5 acreas overlooking the Jordanelle Reservoir with stunning views and great ski access down to the Deer Crest Gondola.  

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#2 9100 Marsac Avenue #1182 – Montage Deer Valley : $8,250,000

The #2 spot is a condominium at the luxurious Montage Deer Valley in Empire Pass sold by the Montage sales team. This development is one of the most prestigious in the Deer Valley area with many sold residences for this ski-in ski-out luxury complex. This unit is a four bedroom and seven bath residence with 6,858 square feet which is one of the largest residences offered at The Montage. 

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#3 9950 N Summit View Dr – Deer Crest : $6,900,000

Deer Crest top the charts with another sale. This estate offered great ski access right out of the door and grand lake views. Sold in April of last year for just under 7M by our own Keller William associate.  With six bedrooms, eight bathrooms, and almost ten thousand square feet of slope-side living, this is an impressive ski home. 

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#4 7840 Hawk Ct – Bald Eagle : $6,875,000

This impressive estate home in Bald Eagle was sold back in February as the 2nd sale within Bald Eagle to top the list. This home is in the prestigious and gated area of Bald Eagle and designed by Otto Walker. A cabin style luxury home at it’s finest with expansive views. The home boasts 12,000 square feet of living space with eight bedrooms and twelve bathrooms. This home was built in 1997 in one of the most renowned locations in all of Deer Valley. 

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#5 2300 E Deer Valley Dr #802 – St. Regis : $6,200,000

Another resort residence made the top 5 sales for 2012 located at the St. Regis inside of Deer Crest. This is a four bedroom with 5 bathrooms unit with 3,615 square feet of living space. This sold for $1,716/sq ft which is an impressive number to see selling after coming out of the suppressed markets we have seen these last few years. St. Regis is another luxurious development to rival the Montage and is in the gated Deer Crest area. 

Sometimes I am hard to catch.  If you try me at the following places, you will have a much better chance of finding me:

www.shesellsparkcity.com
Facebook
LinkedIn
Twitter

Kristen Johnson
435.659.8041
shesellsparkcity@gmail.com
Friends, followers, and connections are a way of the future. Feel free to share!