It's now ski season 2015/2016 and Park City is open.This summer, the market kicked up about 20% across the board. not only are prices up, but sales as well. Since each area is unique, those increases vary with the OLD TOWN area bringing in the best sales numbers and prices. New and resale condominiums also saw a huge increase in sales. Everyone, wants to be here now. That bodes well for the future as well. Add to that the fact that Vail Corporation has merged Park City Mountain and the Canyons into one ski area, the largest in America. . Anyone who has seen the redevelopment of Vail in the last year or two knows what is coming to Park City, so now is the time to get on board and take this train for a ride. The stock market is up as well as Real estate sales, but as we approach the next FED meeting, be looking for a rate increase. How will that affect our market? The smart money is already stepping out of the stock market and into Real Estate. What better way to park your gains than in a home in the largest ski resort in America. The growth and demand in Park City can only go up. One indication of this is that nearly 50% of sales of high end properties are for cash!. What does that tell you?
Someone important to me told me long ago that "Perception is Reality" One doesn't have to look too far to see what the perception of Park City is now that Vail has taken over. It can only go up from here. Have billionaires chased the millionaires out of Vail and Aspen?, if true, they had to go someplace, and Park City is the logical place. Our recent sales jump has proven that to be coming true. That definitely helps our market. We are seeing a huge influx of capital coming into Park City from Vail in capital improvements, not to mention all the private development that is piggy backing on Vail's investment. and marketing. If the phrase location,location,location is true, then investing in Park City Real Estate now proves it. This is "THE PLACE" to be.