Welcome to the Heber Valley Area Real Estate Market Update April 2017.
Heber Valley Area Overview
In the Heber Valley real estate market, conditions continue to favor both buyers and sellers, even as fewer houses become available compared to this time last year. April 2017 found an decrease in the number of active listings for single-family homes, according to information from Park City MLS.
The 55 new listings in April 2017 represented a 5 percent decrease over April 2016. Active listings decreased 7 percent to 217 over the same period. Actual sales of single-family homes also decreased over the same period. The Park City MLS reports that in April 2017, a total of 19 single homes were sold in the Heber Valley area. This represents a 15 percent decrease over sales in April 2016.
Prices in the Heber Valley real estate market continued to climb during that year-long period. The median price of a single-family home in the Heber Valley area increased .3 percent between April 2016 and April 2017, to $430,750. Average home prices rose 8 percent during that period to $575,182.50. The dollar volume of sales during the year decreased 16 percent. In total, $13,173,392 worth of homes were sold in April 2017.
Homes spend an average of 88 days on the market in Heber Valley, which is a decrease from April 2016. Generally high prices, limited availability, and slow sales of those homes that come up for sale make the Heber Valley real estate market a favorable environment for buyers.
Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Heber City and surrounding communities. Contact us today for more information on Heber Valley real estate and for professional assistance navigating this sometimes complex home market.
We have provided Infographics for ease to view what is happening in the Park City Market.