Luxury Home Sales in Park City, Deer Valley and Heber City, Utah | Luxury Real Estate Market Trends | Million Dollar Home Trends
Utah luxury homes sales trends in Summit and Wasatch Counties for 2007 - Statistics, Home Prices, Trends, News, Housing Figures

Luxury Home Sales in Utah’s Summit and Wasatch Counties

Analyzing Residential Sales of Over $1 Million

 

October 15, 2007

How many million dollar home sales have Summit and Wasatch Counties posted over the past seven years? In a research study conducted by luxuryhomeutah.com using data from the Wasatch Front Regional Multiple Listing Service (WFRMLS) there have been 103 total sales above the $1,000,000 mark. These sales averaged 108 days listed on the market before securing a contract for purchase.

 There were only 14 homes sold above the $2.5 million mark. Only half of that number sold above $4.0 million. The largest sale was for a property in Deer Crest Estates of Summit County. It sold on March 12, 2007 for $8,455,000. This property had 10,494 square feet, resulting in a sale of $805.70 per square foot. This property had seven bedrooms, seven full baths, three family rooms/dens, two kitchens, nine fireplaces with .76 acres of land. Surprisingly there was only one laundry room and no marble floors in this estate.

 

The charts below display a summary of home sales in the two counties:

 

Total Listings for Wasatch and Summit Counties Since Jan 2000: 693
Median Home  Price	Average Home Price	Lowest Home Price	Highest Home Price	Avg Market Time
$475,000	$686,876	$61,500	$8,455,000	83

 

 Million Dollar Home Sales Since 1-1-2000 to 10-14-2007

 

List Price Range			# Listings Sold			Avg Days on Mkt
$1,000,000	-	$1,249,999		28	116
$1,250,000	-	$1,499,999		23	104
$1,500,000	-	$1,749,999		13	65
$1,750,000	-	$1,999,999		11	128
$2,000,000	-	$2,499,999		14	125
$2,500,000	-	$2,999,999		3	61
$3,000,000	-	$3,999,999		4	135
$4,000,000	-	$4,999,999		1	76
$5,000,000	-	and over		6	162

 

Source: WFRMLS and luxuryhomeUtah.com. This information is deemed to be reliable, however WFRMLS and luxuryhomeUtah.com do not guarantee accuracy.

 

 

 

Links to other reports:

Million Dollar Properties on the Utah Market

Luxury Residential Property Trends

Park City Home Values Increase Over the Past Ten Years

Luxury Home Amenities & Buyer Demands

Park City and Deer Valley Luxury Home Trends (Summit & Wasatch County Trends)

Utah Luxury Condo Market

 

 

 

 

 

 

 

 

 

 

 

Barry J. Preusz
Realtor^® | Luxury Property Specialist

Equity Real Estate, 7090 Union Park Center, Midvale Utah, 84047

Office: (801) 253-6771