Friday, June 24, 2016

Tired of Brexit? Take a hike. Live the Park City Dream. Never Go Home.

Deer Lake Village in Deer Valley
Brexit, Schmexit.  Yes, important, but tiring.   Dow down 600.  Pound down 8%.   I'm sure there's something good there for someone in northern England.  If I were David Cameron, I would be retiring too.

Sell stocks and buy Real Estate.   Here in Park City, we have the best skiing and snow in the world, but we also get a little summer-spoiled.  While it's 120 degrees in Phoenix, Park City woke up this morning to a cool 47.  Imagine relaxing at the Deer Lake Village "Beach" or hiking the "Sultan" Trail at 8000' in Deer Valley.  You'll postpone going home.  (Unless you already live here)

"Sultan" Trail in Deer Valley

If you do want to get technical, at Sothebys, I have some fabulous new statistical software for graphing all kinds of market trends.  So when you ask, "How's the market?"  Instead of saying "Great" or "Slow", I can show you "factuals".

This graph visually shows the actual two year increase in sales price and listing price of single family homes in the Park City area market!   Takeaways:   1:  A 2 year upward tend in median price of listings and sales.  2:   The tendency of listing prices to be higher in winter months (Ski related homes are listed for a premium for the winter)  3:   A 38% increase in median sales price in last two years. 

And this graph shows the same progression for only Deer Valley properties of all types, combined, indicating a 23% increase in median sales price over past 24 months.   Note that median is sometimes a better stat than average, as one large sale can skew average more than median.  (Ex: the recent 11.5M "Dumb and Dumber" Evergreen sale)

A similar graph for Deer Valley condos only, would show a two year increase of 16% in median sales price.   Remember, however, that Real Estate is always "hyperlocal", meaning even a particular subdivision can behave differently from the overall market, and usually creates its own market stats and trends.   I can create a similar graph any area of the Park City market, from Old Town to Park Meadows to Jeremy Ranch.   LMK if you would like to see one for your area!

25 years proudly representing Buyers and Sellers of Park City and Deer Valley's fine homes and properties!   Your personal referrals are always welcome and treated like family!

435 640-6008

No comments:

Post a Comment