Park City & Deer Valley

Park City Mountain Lifestyle Newsletter : Article 1

Park City Real Estate for Sale

Even though the real estate market can and does fluctuate like the seasons, there is one constant in the industry: The value a savvy real estat agent brings to a homeowner's investment.

Park City happens to claim some of the best agents in the business, with Prudential's team of experts leading the way.

As a Prudential agent, we live, work and play in the same areas we're providing counsel in and that is key. We have a finger on the pulse of a place clients are looking to establish stronger roots in. That breeds comfort and confidence.

"Prudential agents have been voted by their peers President of the Park City Board of Realtors® (PCBR) three consecutive years."

Prudential agents have not only proven they possess an intimate understaind of the area, they have built a reputation for integrity throughout the Park City real estate community. Evidence is in the fact Prudential agents have been voted by their peers President of the Park City Board of Realtor® three consecutive years.

The secret to their success can be found in the way they tackle their daily agent duties. All hold communication with their clients in high regard. It's important to always keep a good dialogue and to constantly ask questions. We want to make sure the client is equipped with as much information as possible.

Staying on top of the market trends is all part of the client-agent dialogue, and conversations with buyers have been good these days. With lower prices, tax incentives and favorable interest rates, now is a great time to buy, and the Park City real estate market is a good real estate market to be in.

Since 2008, transactions are up 25 percent year over year. And according to local experts, that trend is expected to continue in 2012, with a number of Park City real estate deals still to be had.

Prices are holding in many of Park City's neighborhoods as foreclosures and short-sale activity continues to recede. The most popular buy remains the single-family home. In 2011, it accounted for 44 percent of all sales and 55 percent of the total dollar volume.

Over the past few years, sales activity has been centered in neighborhoods such as Silver Springs, Jeremy Ranch and Park Meadows. The average current price for a median home is around $550,000, with median condo prices around $350,000 and median homesite prices as low as $165,000.

The Park City real estate market is fairing well. Our sales volumes are higher than other ski towns in the region. Indeed, in a recent report issued by the Western Mountain Resort Alliance, Park City topped all markets including Vail, Sun Valley and Tahoe in the categories of total volume sold and number of units sold.

In Park City, the first quarter will continue to bring great Park City real estate deals to buyers. That's obviously great for people who love open space and are looking for world-class outdoor and recreational amenities. Park City is perfect for them.

If you would like more information on the Park City real estate market, feel free to give me a call. Park City has an array of real estate opportunities available, from ski-in/out condos to single family residences. If you're looking to purchase or sell real estate in the Park City area, please visit Park City Real Estate to view all the listings currently available. Michael LaPay, a local Park City Realtor, specializes in assisting Buyer's and Seller's in the Park City, Utah area.

Michael LaPay, Associate Broker
Prudential Utah Real Estate
Mobile: 435-640-5700
Toll Free: 888-410-7653

michael@ppcre.com

*Photo Credit: David Ramaley