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Our subject matter is largely made up of questions we are asked by clients and other individuals considering Park City as a place to own or to visit. Most of the questions we are asked pertain to our Golf and Ski communities, but we welcome any questions relating to the Park City market or any real estate topic. We will address every question honestly and answer to the best of our ability. We respect our competition but we don’t shy away from discussing differences in product and services when asked. In addition to answering your questions, we enjoy sharing stories of our clients successes, open houses and Golf, Ski and community events of significance.

 

How is the market for Golf property in the Park City Area?

By Darrick Olsen
May 23, 2014

Question:

How is the market for Golf property in the Park City area?

Answer:

Demand is strong in our market. The number of sales in our market is up 15.6% in the past 12 months. Medium prices have increased 2% in the past year and distressed sales were less than 6% of first quarter 2014 sales. Inventory declined 3.9% over the past year and is at historic lows since 2007. Having summarized the Park City Board of Realtors first quarter statistics, we should point out that our market is highly segmented and these numbers give only a crude answer to your question. We are working on more detailed statistics that focus on the 10 golf and ski communities we have defined and focus on. Our unsubstantiated feeling is that the golf communities are strengthening led by strong improvement in home site sales and prices (especially the high end) and a resurgence of new construction (custom vs. spec homes). Many high quality resales are still selling below current replacement cost.

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