Park City & Deer Valley

Point 5: Looking Forward

As reported after the first quarter of 2010, continued buyer activity appears likely as prices will continue to remain low for the foreseeable future. Interest rates are the lowest they have been in 50 years, so area property is more affordable than it has been for a number of years. Foreclosure activity will continue, although probably at lower rates than what we have recently seen. For the near term, inventory levels will remain stable and buyers will continue to have many choices.

For sellers, pricing is still the most importantaspectof getting their property sold. Correctly priced properties have a good chance of selling, while properties that are priced just a little high for the market will sit. In fact, properties that are very well priced may recieve multiple offers.

Projections at the end of the first quarter put total sales dollar volume over $1 billion by the end of the year and the number of sales should top 1300. Through the end of the first half of the year these projections still appear to be accurate. Both of these numbers would be about a 15+ percent improvement over 2009, and should be in line with 2008 figures. In addition, there wa s projection that prices could rise in the low single digit range, and that prediction also still looks accurate.

For More Information on Park City and Deer Valley Homes Contact:
Michael Lapay
Prudential Utah Real Estate
Mobile: 435-640-5700
Toll Free: 888-410-7653

mlapay@pureparkcityrealestate.com



*This information is subject to change without notice. Buyer is responsible to verify the accuracy of all information to the Buyers own satisfaction.