In the last couple of weeks, we have seen the market start to slow down a bit. The amount of new inventory has reduced mostly due to the beginning of the school year. Every year we see a slow down but in a few weeks we should continue the active market as we have seen in the past months. The market is still seeing multiple offer situations in the hot areas (Avenues, Sugarhouse, and Cottonwood Heights.) But all areas have been very strong with sales happening very fast entire valley has felt it. So bottom line, no matter where you are buying be READY!
Park City is also seeing a slow down. A couple of months ago, everything was moving within the first two days. Now owners are getting frustrated when their home hasn't sold in first 7 days. Don't worry...It will happen. Park City will also see their seasonal shift from homes sales to condo sales. During the summer, the home sales drive the market but once the snow starts their is also more activity for ski condos. Watch for this...It happens every year. Park City is still very strong. I just closed on a condo in Jeremy Ranch where it is appreciating 6-9% a MONTH.
In a couple of weeks we will also see our quarterly numbers. Keep an eye out for that.
