Buying real estate after passing the bottom of the market can be one of the best times to buy property. Yes, if you missed the bottom of the market, you may have missed out on some of the best deals seen in a long, long time. But, when the market was at the bottom, nobody really knew that for sure. It was a time of major uncertainty. Let's take a quick look at the ups and downs we typically see in real estate market trends and we'll see why buying right after the market bottom can be such a good time to do so.
Across the country, we seem to have just recently passed the bottom of the market.
Below we have an illustrated chart showing the natural cycle and trending of a real estate market. The chart shows the increase of a market to it's
Activity and Prices Up in Almost all Market Segments
We recently had our meeting of the Statistics Committee for the Park City Board of Realtors®. This is the opportunity for us on the committee to review and discuss the current real estate market conditions for the Park City and Deer Valley communities. We meet four times a year, once for each quarter. We print out sheets and sheets of all sorts of statistical numbers and information and try to dissect it down to what's important, what is trending in our market, what stands out, and what is the big picture?
Its tough to try to define an answer to a simple question: "How is the market?"
We try to note the overall trends and shifts in the general Park City real estate market as a whole,
The Luxury Home Tour is a showcase of private luxury residences in the Park City area. Over the years the Tour has showcased some of the finest homes built in Utah. These homes are privately owned homes that never open to the public, and are available for the tour by the generosity of the homeowners and the private communities they reside in. This year’s Tour is being held in Deer Valley’s prestigious Deer Crest neighborhood - a private, gated community of ski-in, ski-out homes and home to the St. Regis Hotel. The Tour will be showcasing seven beautiful private residences designed by some of the country’s top architects and interior designers.
An Amazing National Park only 4 hours from Park City!
Many of the great things about living in Park City are not even in Park City itself. Park City is of course an amazing place to live and visit, but what makes it even more amazing are all the nearby fun things to do and see. Utah is possibly one of the most beautiful states in the U.S. and is for sure one of the most diverse in landscape, scenery and ecosystems. From staggering tall and green mountains in the north end of the state, to exquisite deserts of sand and world-famous red rock in the south, there is no end to the "must see" list in Utah. Be sure to check out our photos of "Angels Landing" below:
Hiking on the Watchman Trail in Zion National Park