The Real Estate Story of 2021
The 2021 story of real estate in Park City and most of the country is inventory!
The notable rise in homes sold and sales prices that were experienced in the latter half of 2020 continued unabated through all of 2021. At the end of 2020, we had 539 properties listed on the Park City Multiple Listing Service; a 50% reduction from the previous year and a new historical low level. At the end of the year 2021, we had 280 properties listed; representing another 50% drop. Unite the low inventory levels with the avid buyer demand and you find the driving force behind price appreciation and multiple offers.
An example of the magnitude of the changing market, at the end of 2019, the median price of a single-family home in…
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