Real Estate
From its beginnings as a mining town in the mid-1800s, Park City has grown to over 7,300 residents and is indisputably Utah’s premier resort town. From its historic Main Street and thriving nightlife to its three world-class ski and snowboarding resorts, Park City never sleeps.
Park City real estate agents work with one of the most popular resort towns in the nation and can provide you with all the information you need to make a wise investment in this prosperous town.
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| Population 7,371 | Median Age 32.7 yrs | Household Size: 2.72 |
| Avg Home Value: $450,900 | July High: 75.6°F | January Low: 10.6°F |
Park City Real Estate Agents
"The Greatest Snow on Earth"
Park City, Utah, with nearly 8,000 residents, is a well-known recreation destination that receives over 350 inches of snow every year. Known as the city with “the Greatest Snow on Earth,” the area houses three world-class ski resorts and offers several outdoor snow activities. Other attractions include numerous shops, theaters, spas, golf courses and over 80 restaurants. Park City is also a historic mining town, and 64 of its buildings are on the National Register of Historic Places. With so many attractive features, many people look to Park City as a spot for investing in a second home.
Finding a ParkCity Real Estate Agent
If you are planning to relocate to Park City, the first step is to find a qualified Park City real estate agent who works for buyers. All agents have general knowledge of an area’s real estate market; however, a buyer’s agent can better assist you in finding a property that best suits your needs. He or she will have access to the multiple listing service and will have connections that can help provide you with a wide range of housing options to choose from. A Park City real estate agent can also give you with all the information you need about Park City’s schools, job opportunities, economy and attractions in order to make a wise decision on which area of the city to invest in.
Living in ParkCity
For a resort town, Park City places a high value on education. The percentage of the population with a college education is significantly above the overall state average. Park City is close to four major colleges and universities, and nearly 52 percent of the residents have a Bachelor’s degree or higher.
Skiing is without a doubt the main attraction that has kept the town’s economy alive. Because it is primarily a resort town, tourism is an integral part of the economy. In fact, tourist attractions employ between 60 and 70 percent of the workforce here. The median household income is about $82,000.
Homeowners in the city are mostly made up of wealthy second-home owners. In order to make more affordable housing available, however, in September, 2005, Park City gave $115,000 to Mountainlands Housing Trust, a nonprofit agency, to build 22 condominiums that will fall within an $87,000 to $165,000 price range.
The median home price in 2005 was $335,000, and home prices are steadily rising at about 4 percent. According to The Reid Report, primary homes get taxed at 55 percent of the fair market value, and second homes are taxed at 100 percent of the fair market value.
With this city’s thriving economy, there is no better place to make a real estate investment in the Utah. If you have trouble deciding on the specific area of the city you want to invest in, contact a Park City real estate agent for help. He or she will not only make recommendations but will also assist you in the search process.
By: Naureen Kamdar
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®