Park City Real Estate Remains Highly Desirable

According to reports of the Park City Board of Realtors, home prices have come down but the number of sales in 2010 has been up.

Here are the stats:

  • Median prices are down 3 percent from 2009
  • One third of all sales are foreclosures
  • Unit Sales were up 20 percent over 2009 meaning we sell a lot more property due to the lower prices.
  • Vacant-land sales were up 60 percent.
  • Condo sales were up 22 percent.
  • Single-family home sales were up over 26 percent and comprised 46 percent of all sales and 54 percent of the total dollar volume.

Outlook: 2011 will be very similar to 2010. Park City will remain a buyer’s market. Foreclosures seem to decline.

In conclusion people are jumping at Park City Real Estate while the price is right. Once we get back to a steady 5-7 percent annual appreciation everyone will look back at 2010/2011 as the TIME to buy Park City Real Estate because prices and interest rates were so very low.

Check out the current Park City/Summit County Best Buys and Bank-owned Properties.