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)