A year ago, changes in the market were just becoming noticeable– a new pattern of scarcity that spread from neighborhood to neighborhood. Buyers were finding fewer choices in their house hunting searches, and even facing competition for the better homes.
Today, it’s obvious there’s a new market that favors home sellers, and even the buyers in seemingly complete denial of the new market dynamics have to face reality—either pay a fair price now, or pay more later.
I haven’t forgotten about the tough lessons of a few years ago, and don’t have a blind, “things can only go up” outlook. However, based on the demand for this neighborhood and Park City real estate in general, I do believe we have some strong years ahead.
Adding to the scarcity and general desirability is the acquisition of open space, in our neighborhood and throughout the basin. The recent purchase of the 300 acre Gilmore parcel was a huge win for the entire area, and especially a game changer for Silver Summit/Trailside residents. This large scale absorption and conversion of potential density to open space means fewer cars, more trails and trail access points and will add fuel to this upswing.
There are just fewer good places to build in the Park City area– but as someone who loves Silver Summit, Sagebrook, Sun Meadow and Trailside, I know we’re not seeing the demand for our homes only by default. More and more people are recognizing what we have to enjoy here-great access to town, trails, parks and other neighbors. This is a rare and true “front porch” neighborhood.
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Listing information last updated on October 23rd, 2019 at 2:43am MDT.