Park City Real Estate Sales Continue To Thaw
Park City Board of Realtors, 2010 Q2 Statistics
Park City Board of Realtors, 2010 Q2 Statistics
Park City, UT -– July 22, 2010 – Sales dollar volume for the first half of 2010 continues to trend up compared to the same time period of 2009. For the period ending June 30, 2010, Sales dollar volume was up 67% from 2009 at $543 million versus $324 million. The number of sales is ahead 60% in 2010 over 2009 with 669 units closed compared to 415. These figures represent four consecutive quarters of improved sales.
Park City’s real estate market is recovering far above the pace of the National real estate economy. Several outstanding factors contribute toward Park City’s more rapid comeback. One reason is price. Prices today are, on average, about 20-30% lower than they were at their peak in late 2007 to early 2008. For people considering a second or primary home in the western mountain resort communities, this summer is the time to start their Park City search.
Among the other dynamics which make Park City a superior resort purchase are: Increasing numbers of direct domestic and international flights in and out of Salt Lake International Airport and the airports 30 minute proximity to Park City. Park City is also realizing a growth in year-round residency and primary residential sales not only due to the airport proximity; but also as our resort town becomes more dedicated to year-round recreation for residents and visitors. Resort communities that are more remote and difficult to access are still experiencing difficulty and are perceived as a riskier long-term investment.
Park City’s real estate market is recovering far above the pace of the National real estate economy. Several outstanding factors contribute toward Park City’s more rapid comeback. One reason is price. Prices today are, on average, about 20-30% lower than they were at their peak in late 2007 to early 2008. For people considering a second or primary home in the western mountain resort communities, this summer is the time to start their Park City search.
Among the other dynamics which make Park City a superior resort purchase are: Increasing numbers of direct domestic and international flights in and out of Salt Lake International Airport and the airports 30 minute proximity to Park City. Park City is also realizing a growth in year-round residency and primary residential sales not only due to the airport proximity; but also as our resort town becomes more dedicated to year-round recreation for residents and visitors. Resort communities that are more remote and difficult to access are still experiencing difficulty and are perceived as a riskier long-term investment.
Please feel free to contact me for more detailed information about our market.
Heather Feldman
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