Here are a couple of interesting points regarding what's happening in the current Park City, Utah real estate market.
Inventory is down. Based on an average of the past three months sales this there is simply a 9.7 month supply and is the lowest number of listings since 2007.
Distressed sales are declining. Notice of Defaults are down 34% from 2011.
Prices finally show appreciation. Median prices for single family homes are up 7.7% higher than January 2012.
Prices are still well below the peak of the market however, Park City real estate is bouncing back from the bottom. Properties that are well priced are selling within days of being listed and we are seeing more multiple offers than in past years.
Remember, real estate is regional and the market trends in your area may be different than our mountain community. If you are considering purchasing a primary or investment property give us a call. Let us be your guide to all things Park City.
Contact us today if you'd like a more detailed overview!
-Deb Hartley
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