Why I believe that Park City is still a buyer's market.

The market seems to be very active. I know that in some cases homes are hard to find. Statistics show however that inventory is not down by that much over the same time last year. In fact in every month of 2013 from March through September there were more single family homes sold than for the same time in 2014.

Sales in 2014 picked up and just eclipsed 2013 in October, November and December. 2014 ended up about on par with 2013 year over year in the number of single family home sales. For the first two months of 2015 the trend is continuing but not dramatically more than for either of 2013 or 2014. Inventory is only off 4 1/2% from this same time last year.  And yet the market seems to be very active. 

The point being that there is still good inventory and interest rates are still fantastically low.

There are a lot of good things going on in Park City. More and more people are calling Park City home. There is a young population, families with young kids. There is not a lot of extra land available to build new homes unless you go further outside of town. 

With the Vail acquisition of Park City Mountain Resort and the Deer Valley purchase of Solitude, the world is beginning to realize that this is a great place to vacation. I have heard more foreign accents this year than ever before on the ski slopes. I believe demand will continue to grow steadily for at least the next few years and likely 5 years and beyond. 

Inventories will eventually decrease and there will be upward pressure on prices. That is why I believe that Park City is STILL a buyers market. 

Thanks for reading our newsletter. I hope that it is informative. Don't forget to check out the events calendar.

Best Regards,

Brad Jensen

Jensen And Company

www.jensenandcompany.com
(435) 901-8333

 

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