Park City Real Estate Market- The Frenzy Morphs into 2021
Since June of 2020, the Park City real estate market has been on fire. And it hasn’t slowed down yet. Personally, I just about doubled my sales from the previous year, 2019 being my largest real estate sales volume year to date. Until 2020. We don’t get days off. Just hours off. I make the best of them.
Referrals from past, happy clients and agents from around the country land on my desk almost daily. The challenge is finding them something to purchase. The Park City real estate market inventory supply is down to 1.9 months. That is incredibly low. New listings, if priced right and in good shape, get swooped up, often times before hitting the market. Best to hire a seasoned agent “in the know”. Now is not the time to represent yourself in a purchase or hire an agent randomly. Sellers in Park City are getting about 98% of list price, on average. So, if you’re a low baller, you’re late, by about 12 years.
Will this hot real estate market turn into a bubble? According to the Economics Group at Wells Fargo Securities, the answer is no. For more insight on housing economics, click on the button below.
Where should you look for exciting new real estate inventory in the Park City and Deer Valley® area? Look at developments. There are new, gorgeous ski and resort properties coming on line or in the planning stages. Some have refundable reservation deposits worth exploring. Some of my favorites are:
Goldener Hirsch- completed December of 2020
Pro Tips:
1. Hire a professional Park City Realtor®
2. Have a pre-approval from a local lender ready or a proof of funds
3. Be patient but ready to pounce at the same time
If I had a dollar for every buyer that said they didn’t want to buy at the top of the market 5 years ago, I could’ve retired. Purchasing Park City real estate is a lifestyle choice. If it is all about crunching the numbers, this isn’t the time for you to buy.
Sellers, what are you waiting for? If you are thinking about selling please give me a call to talk about preparation, strategy, and pricing. I can inform you about my marketing and sales skills to get you offers from real, qualified buyers. Not online tire-kickers.