Thinking of moving to Park City? Or, do you already live here but are thinking of changing neighborhoods? Over the next few weeks, I’ll offer you a neighborhood-by-neighborhood guide to the real estate market of Park City, Utah. See a neighborhood map of Park City here.
The Old Town area of Park City includes the historic Main Street and “downtown” area. Old Town is listed on the National Register of Historic Places. Because Main Street has retained its small, old-west mining town charm, it remains one of the most iconic towns in America, frequently captured in photographs, films, and, of course, as the hub for Sundance Film Festival. This is where many of Park City’s best restaurants, shops, and galleries are located. It is ideally situated between Park City Mountain Resort and Deer Valley. There is even a chair-lift in the middle of Main Street that carries skiers and snowboarders directly onto the mountain.
If you want to be in the center of Park City activity, this is the area for you.
The housing in Old Town is one of the most diverse and eclectic areas in Park City, offering a wide range of types and price points. While condos are more plentiful, there are a number of single family homes in the area. For 2015, the median sales price for a home was $1.3 million. The most expensive home sold for $4 million but the least expensive home sold for a mere $365,000, representing the wide range of homes that can be found in this eclectic area.
The median condo price, on the other hand, was a more affordable, $450,000. Although, there are some stunning new construction, top-of-the-line condos also being built. The most expensive condo in Old Town sold for an impressive $3.5 million! If that sounds expensive, fear not, the least expensive condo sold for just $139,000.
In 2015, the total number of condos sold was lower than 2014. That makes this a good time to take advantage of the increased inventory from 2014 as I expect this dip in Old Town sales to be temporary.
If you would like to build your dream home in the center of the Park City action, the possibility still exists. There are a small number of vacant lots available, although they tend to sell quickly. For 2015, the average sales price for a lot was $825,000. Vacant land is a scarce commodity in the Old Town area. If you’re interested, it’s best not to delay.
You can learn more about Old Town plus search all available home, vacant lot, and condo inventory here.