4th
RECORD SETTING
2020
Although COVID disrupted many aspects of life during 2020, our local real estate market came out of the year in
2020 vs 2019 Market Wide
extraordinary shape. The market weathered a near complete shutdown last spring, but it has, for the moment, emerged to a
Single-Family
new normal. Open houses have returned - just don’t forget to bring your masks and sanitizer!
QUANTITY SOLD
The real estate slump that was predicted back in March failed to materialize. On the contrary, the year-end numbers from the Park City Multiple Listing Service (PCMLS) show that the market improved at an incredible rate. A brief dip was observed in March, April, and May. However, by Memorial Day weekend the buyers were back, and the market didn’t just recover; it set records for sales and transaction volume by the end of the year. Demand for homes in our market area grew exponentially, as many chose to move to the mountains to work from home remotely and even homeschool. By the third quarter, pending contracts far outpaced new listings coming to market. This high demand fueled record low inventories in August, and the supply continued to dwindle through the end of the year. With few homes available to meet the surge in buyer interest, the predicted rise in sale prices was inevitable.
JAY SHERIDAN TRISH CLARK REALTOR®REALTOR ®
BONNIE CLARK REALTOR ®
40% MEDIAN SALE PRICE
33%