A question we are all asking constantly - what is the market like in Park City today?
Should I sell now? Should I buy now?
Well, as I have said before, my crystal ball isn't working! However, we can look at some really interesting indicators to make some educated choices.Today we have the lowest inventory since 2007, approx 820 single family and condo listings in Park City including Park City Proper and Park City Extended. These areas include Deer Valley, Park City, Snyderville Basin ( Silver Springs, Canyons etc) Trailside, Jeremy Ranch, Pinebrook, Summit Park, Glenwild and Promontory and everything in between.
In 2010 there were approx 2600 properties on the market in those same areas. This change has created a shift from a Buyer's market to a Balanced market. We are not in a Seller's market where homes are flying off the market at highly increased prices, but we definitely have seen a shift.
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| Stats courtesy of Rick Klein, Wells Fargo Mortgage. For full stats package, email me at heather@parkcityhousehunters.com |
Foreclosures have slowed, short sales are much fewer which is causing the regular inventory to sell. We are just not seeing the screaming deals like we have in the past few years. What does this all mean to you?
In my opinion if you are looking to buy, it doesn't pay to gamble. Rates are lower than we will probably ever see again, home prices have not jumped - it is a win-win.
Call me for more information about any home or condo in Park City.
Heather Feldman
435-731-0803
heather@parkcityhousehunters.com
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