Has the Park City, Utah real estate market recovered?

By
Real Estate Agent with Prudential Utah Real Estate

The Park City real estate market is showing signs of recovery as it continues to move in the right direction.  It seems like the difficult years are behind us and the numbers and the stories are telling us that the “bell has been run at the bottom.”  Indeed the Park City real estate is definitely showing signs of recovery that appears to be gaining momentum.

Our impression is that Park City real estate is neither a Buyer or Seller’s market – however a more balanced market.  Buyers are definitely more educated about buying real estate and we can only hope that the dismal years are behind us.  As such, Sellers realize that they are seeing “sunnier” days and feel more confident in selling in an improving market with less inventory to compete with, particularly distressed sales.  Distressed sales account for less than 20% of total sales in Park City so generally speaking, the inventory has improved along with the expectations of both Buyers and Sellers.

Ask us about the trends in the various neighborhoods in which you have interest.  Some areas are seeing tremendous value appreciation and others, not so much.  Generally speaking, the market has definitely improved and again, some areas are stronger than others keeping in mind that all markets are local.  Our goal is to help you manage your expectations because what real estate trends are occurring in your area may not be the same for every area in Park City.

Call us – we know what’s going on.

-The Lea Hartley Team

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