Buyers visiting Park City Deer Valley this year will have fewer choices when looking for properties. The number of sales of homes and condos is down 9% - 12% over last year due to both primary & secondary home buyers snapping up choice properties and outpacing the available inventory. Therefore, with the short supply of Park City homes, condos, and vacant land, added to the gradual increase in pricing, and segmentation of our neighborhoods, it’s essential to work with a knowledgeable Realtor! The good news for Buyers is that our overall real estate market is still not back to the highs of 2007, so there are still good values to be had.
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- Quicker/Better Airport Access - At only 45 minutes to Park City, Delta's Salt Lake City Airport now offers customers 373 peak-day, non-stop flights to 114 destinations, and since June 2005, Delta has added more than 30 new markets, including seven new international destinations. Plus with recent airport renovation, visitors now experience a more spacious, convenient and efficient check-in thanks to state-of-the-art self-service technology throughout Delta's newly renovated lobby.
- Great Selection of Properties - We have over 1,000 active listings in our local real estate market. This means, more ski-in/out properties, more golf and ranch properties, and more new properties to choose from at all area ski resorts.
- List to Sold price remains constant at approximately 95%- Sellers are not 'rejecting' lower offers, but engaging in a good faith negotiating process of offer and counter-offer.
- Fewer Flippers - It is estimated that 1/3 of all sales in 2005 were to buyers who intended to 'flip' their properties once completed thereby escalating prices. Now we have 'real' buyers, no 'flipper' mentality, and less investor competition.
- Available Financing - With the sub-prime fallout subsiding, and the Federal Reserve rate cuts, low interest loans with near all-time low fixed rates are back. It's a great time to acquire financing.
- Top Agents Available - During the 'intense frenzy' of 2006-07, many part-time agents and new agents swelled the ranks of the real estate profession. Park City had over 1,100 RE agents, or one agent for every 6th person! Many of these agents have left now, and buyers can choose from a more experienced and professional pool of agents.
- Better Real Estate Information Available - The Park City Board of Realtors recently upgraded their Multiple Listing System, allowing buyers and sellers to more readily obtain detailed information for current and past listings. A better informed consumer is a win-win for all parties in a transaction and expedites the real estate process.