This comprehensive year end market report provides an overview of Summit and Wasatch County real estate. We strongly believe our clients should have access to information that facilitates thoughtful real estate decisions. All statistics are based upon Park City Board of Realtors MLS data for the period of 1/1/16 to 12/31/16. The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, features, and amenities. For example, while Deer Valley and Prospector areas share the same zip code, average home prices in these two neighborhoods are very different. Our predictions: We expect additional new developments to come to market in 2017 in the Jordanelle, Heber, and Canyons areas. Inventory will remain low in many areas, especially in Park City proper residential neighborhoods. Finally, while mortgage rates will continue to rise mildly, we do not see this trend influencing buyer demand significantly. Data interpretation, judgment, and historical context are key elements to making informed decisions. Reach-out for more information.