Can you guess which neighborhoods have the lowest inventory of homes?
Here is your hint—All of these neighborhoods are comprised of mostly full time residents and with 3 months or less of inventory in each, they are all seller’s markets.
6. Prospector: With an average sale price of $678,895 through the 3rd quarter, Prospector is considered an affordable neighborhood inside Park City limits. With its proximity to the Rail Trail, McPolin Elementary, Treasure Mountain Junior High School, Park City High School, and North 40 fields, Prospector is an attractive neighborhood for families.
5. Pinebrook: Pinebrook’s average sale price is $727,833 through the third quarter. Pinebrook is an easy commute to Salt Lake City and many homes are walking distance to the amenities at Quarry Village. Most homes are also within easy hiking distance of the Mid-Mountain Trail system, linking Pinebrook to the entire Park City trail system. The average size of sold Pinebrook homes is over 4200 square feet, making Pinebrook homes a great value. With 40 closed sales through the third quarter, Pinebrook is a popular choice.
4. Jeremy Ranch: The average sale price in Jeremy Ranch through the third quarter was $763,000 due to several homes in the area closing for over $1 million. Jeremy’s easy commute to Salt Lake City, Quarry Village and proximity to Jeremy Ranch Elementary School and Ecker Hill Middle School make it a family favorite neighborhood. The average size home sold was over 4500 square feet, making Jeremy a good buy. Jeremy Ranch is bordered by the 24-7 Trail and near East Canyon, two great places for hiking and mountain biking. Forty-nine homes have sold in Jeremy Ranch this year.
3. Trailside: The average sale price in Trailside of $831,371 is deceiving. That is because there are some very affordable neighborhoods such as Silver Summit, Sagebrook and Sun Meadow, along with exclusive Mountain Ranch Estates, where several homes closed for over $2 million. Families love the proximity to Trailside Elementary School, Trailside Park and the trails at Round Valley. Highland Estates and Park Ridge Estates are sleeper subdivisions and gaining in popularity due to their large lots and big views.
2. Silver Springs: This neighborhood is so hot that many of its homes are sold their first week on the market with multiple offers. The Silver Springs area includes the neighborhoods of Ranch Place, Northshore, Southshore, and Snyder’s Mill. The average sale price in the area is $715,132, but the average size is 2890 square feet, making Silver Springs a more expensive neighborhood in terms of price/square foot than both Jeremy Ranch and Pinebrook. Families love the flat, tree lined streets and proximity to Park City’s trails. It’s true that kids in these neighborhoods learn to ride their two-wheelers faster than those in the hills.
1. Kimball Junction: This neighborhood is home to subdivisions Blackhawk Station and Spring Creek. With an average sale price of $432,632, these neighborhoods are considered great neighborhoods with “starter homes”. There are many young families who live in the Kimball Junction area and appreciate its proximity to the Glenwild Trail system as well as the fieldhouse, shopping and restaurants at Kimball Junction. There is less than one month’s inventory at Kimball Junction, so if you are looking to buy there, you need to be ready to pounce quickly.
Do you know that almost 200 new students were admitted to Park City’s public schools this year? The genie is out of the bottle. Park City’s incredible quality of life is highly sought after and people are relocating here by choice. Between the Salt Lake Valley’s booming economy and the ability of many people to work remotely from any city close to an airport, the Park City lifestyle is more accessible than ever. What are your thoughts on why these neighborhoods are so hot?