If you are reading this post about the real estate in Park City, Utah you are probably thinking its extremely hot like areas of Austin and Nashville. In these locations there are multiple offers on homes that could exceed the listing price. In Park City and Deer Valley the market is really good but when it comes to luxury real estate the days on market are generally shorter than years past though we are not seeing many homes that get multiple offers that will sell for a large percentage higher than the listing price. Where you might see the most multiple offers would be in primary single family home neighborhoods in the school district? Multiple offers are pretty rare right now unless its a sough after property and is priced at or under value.
Some neighborhoods remain hot and some developments have cooled off. It also depends on the time of the year. Ski homes sales historically start to slow down in April and May, which makes is a good time to purchase. Primary homes and neighborhoods start to heat up when the snow disappears……in April and May. Though this has happened on certain listings, its best to reach out to a real estate broker to find what homes are the value in the neighborhood and if they are priced properly.
