REAL ESTATE May 8, 2020

An In Depth Look at Park City’s Housing Market

Let’s be real…
I have not crafted, baked sourdough or enrolled in an Ivy League University’s online class.
What I have done is laughed out loud at legendary memes, overdosed on Netflix & Prime Video, and acquiesced to my almost-14-year-old’s request for a new iphone.
But what is happening everywhere? Sometimes hourly rollercoasters of emotions, and what I have found most important is meeting people where they are – with respect and zero judgement.

With only 1 cancellation in the last 8 weeks, we had 23 deals make it across the finish line. The past week has brought a shift; 8 new listing, 1 Back On The Market, 76 properties under contract 1 property with multiple offers within 36hrs, 2 closings, and too many buyer inquiries to count. The phone is ringing, photographers are busy shooting, drones are flying, stagers are scheduled and deals are closing. In this unusual down-time, skills have been honed and we are ready to

This time has shaped how we approach the selling of real estate. We have health-conscious protocols for showing property. Our marketing tools are more valuable than ever: proprietary syndication, 3D virtual tours, award-winning video, detailed features lists, and telling the story of the home in the crafting of the comments. Engel & Völkers online engagement up; YouTube views are up 90%, FaceBook engagement is up 200% and website visits from Instagram are up 150%. 

My opinion is that we are not in a depression or a recession, but in a suppression. Anyone interested in our real estate climate – from the sidelines, as an existing owner, or as one considering a home in Park City – should take a few minutes and read the data points featured in my most recent Market Update.

The last word this month is about Park City schools. We discuss the loss of Park City’s #1 Most Loved Fundraiser, Running with Ed, and how Park City schools are Changing the Equation in their response to the socioeconomic crisis.

Happy Mother’s Day to all those moms out there crushing it.

Your Cliff Notes to our Current Real Estate Market Climate

Spring is officially is in the air in Park City. The snow is melting, birds are chirping, the bees are buzzing, and real estate is selling. Or is it? Questions – and opinions – about the Park City real estate market seem to be uttered nearly as frequently as the latest news on the pandemic, the two of which are admittedly intertwined. Uncertainty has been the word of the day for roughly two months now, and everyone has a different take on what they think will happen next. But as any experienced forecaster of economics or weather knows, nobody can be certain.

What we can be certain about are verified statistics, hard numbers that give an honest, unbiased look at how well the Park City real estate market, and the surrounding Utah real estate market, is performing. Take a look at our in-depth market update and what it could mean if you are looking to buy or sell in the near future.