INVESTING IN THE PARK CITY REAL ESTATE MARKET
The Park City Area
There are plenty of reasons people are considering investing in the Park City real estate market. There’s the obvious gorgeous environment. Park City is surrounded by soaring mountains and spectacular scenery, an outdoor enthusiast’s dream destination. The Park City area has a special quality that makes it very attractive to both visitors and residents. It is welcoming and vibrant, with a location close to the Salt Lake International Airport, making it very accessible.
Park City’s Real Estate Market
Then there is the huge potential for profit. Currently, investing in a Park City home for rent is consider highly desirable because the Park City real estate market has been continually rising in value. Additionally, the demand versus inventory rates also indicated that prices are not likely to see a decline, rather an increase.
We have seen an overall rise in prices throughout the entire area. In Park City, the median home sales price has increased approximately 7%. More specifically, in the popular Snyderville Basin, we have seen a 20% increase in home prices from the previous year. The area is also experiencing a large number of new construction projects, so there will be more homes and condos for sale soon.
Investors look for safety and growth, and the Park City real estate market offers both. While Park City was impacted by the economic downturn, it was not as heavily affected as some other areas, and you’ll still see climbing values Park City’s real estate listings today. There are several reasons for this including the world events such as the Sundance Film Festival and World Cup ski and snowboard competitions that draw visitors to the area.
Park City is currently in a stable buy-hold strategy, making investing a good idea. Additionally, the area’s unemployment rates are about half of the national average, making the Park City economy very healthy. There is not a large inventory of distressed properties, making Park City real estate an excellent long term investment.
Professional Investment Guidance
If you are considering investing in a Park City home for sale, please contact us at The Lange Group. Each of our agents is experienced in all aspects of area real estate – from investment condos to commercial properties, and are willing to work with you to secure rank among Park City’s real estate listings. We can help you find a property or properties that will accentuate your real estate investment portfolio. We understand that a Park City investment is a great value, so we are here to help!