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Park City Real Estate Insider
Posted on 11 November 2013 | 2:45 pm
Robust sales and record low inventory levels highlight the first nine months of 2013. Closed sales for the 1st nine months are 22% higher than the same period last year. Looking at just the third quarter we are up 36%.
Inventory levels are down 14.7% over last year. The absorption rate is 5.7 months. Both of these are historic lows since 2007 when we started keeping track.
Distressed sales were 5.4% in Q3 of 2013 sharply down from 13.5% in 2012. Prices averaging 2.6% below market values.
Posted on 4 November 2013 | 1:55 pm
The snow is starting to accumulate and I wish inventory would do the same. If trends follow previous years Deer Valley will come up short to supply the demand. A veritable Real Estate musical chairs. Prices are up from the bust but still a good value. Without any new developments releasing this season buyers will have to be quick to pull the trigger.