Saturday, December 29, 2007

"New Construction is King"

Below is an encouraging excerpt from an article written yesterday (12/28/07) in the local paper, The Park Record:

Insiders say Park City is an attractive place to move or to buy a vacation property. It is one of America's top ski destinations, the city is easy to get to from Salt Lake City and its international airport, and houses and condominiums are less expensive than they are in other mountain resorts, the city's real estate industry boasts.

The combination has brought lots of buyers, with the median price on real estate transactions sitting at just less than $1 million through the first three quarters of 2007, up about one-third from the same period the year before, according to the Park City Board of Realtors.

"New construction is definitely king. It's selling better than previously-lived-in houses," Matt Green, the president of the Park City Board of Realtors, said in October.
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