We have compiled our “Absorption Rate Snapshot” for the Deer Valley Resort real estate market as of September 1, 2012. As we report monthly, below you will find the highlights of this analysis. We compile these numbers on a monthly basis looking for trends and the trends continue to show market improvement.
When we refer to the overall Deer Valley Resort real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley real estate market, so if you would like more specific submarket information, please let us know.
Single Family Homes: As of September 1, 2012, there were 56 current active listings in the overall Deer Valley single family home real estate market, 5 under contract and 36 homes that have closed escrow in the past 12 months. This represents 20 months of available inventory for single family residences, which is down from last month’s (August 2012) reading of 24 months. The above numbers are upwardly skewed, however since the Empire Pass submarket currently has 54 months of available single family inventory.
The strongest submarket for single family homes in 2012 had been for the Upper Deer Valley submarket, however again this month the Deer Crest submarket has moved into a close second position with 17 months of available inventory compared to 15 months for Upper Deer Valley.
Condominiums: There are currently 136 active listings in the overall Deer Valley condominium real estate market, 17 under contract and 98 condominiums that have closed escrow in the past 12 months. This represents 19 months of available inventory overall, which is down from last month’s (August 2012) reading of 21 months. The strongest submarket for Deer Valley condominiums is for the Upper Deer Valley neighborhood with 16 months of available inventory.
Although these numbers continue to reflect an overall buyer’s market for the Deer Valley Resort real estate market, the yearly trend does continue its movement back toward market equilibrium.
Jim Barth & Associates, through Summit Sotheby’s International Realty, now offers you market video Deer Valley real estate updates that provide market trends based on current and historical data from the Park City Board of Realtors. The Deer Valley monthly market updates are segmented by area and type of property.
