2nd Quarter 2023 Market Update
The statistics for the 2nd Quarter of 2023 were just released by the Park City Multiple Listing Service, and the numbers show a continued moderation of activity in our market.
The statistics for the 2nd Quarter of 2023 were just released by the Park City Multiple Listing Service, and the numbers show a continued moderation of activity in our market.
The first two quarters of 2022 were characterized by an assortment of market headwinds— the lingering effects of COVID, high inflation, rising interest rates, and stock market volatility.
The stats for the first quarter of 2022 have just arrived, and the numbers show that low inventory and rising sales prices continue to be the overarching trends in our local market.
Our local real estate market began an incredible upswing during last year's third quarter, with sales shattering previous records. The remarkable activity extended throughout the latter half of 2020 and has continued unabated through the third quarter of 2021.
The preliminary statistics for the third quarter are here! The in-depth analysis of the numbers is in progress and will be complete in a couple weeks, but in the meantime it is worth having a look at the early stats. As you will see in the following market snapshot, there are some interesting results.
The latest numbers are here, and as you will see below in this Market Snapshot, the second quarter market stats are outstanding.
Because the pandemic lockdown began in Mid-March of 2020, it's important to note the last two weeks of data from last March are COVID-skewed. Even though our market has more than recovered from the short-lived dip last April and May, March was the last month...
March 15, 2020 will be remembered as the day the Park City ski resorts announced their immediate closure, and life as we knew it in Park City came to a screeching halt.
Mother Nature stopped being stingy with the snowfall this season just in time for the Presidents' Day holiday celebrations, and she did not hold back! A five day storm cycle brought three feet or more of snow to our mountains.
Although COVID disrupted many aspects of life during 2020, our local real estate market came out of the year in extraordinary shape.