Another home priced at $1 million that sat for perhaps 18 month without seeing any action until a year ago is today priced at $616,000 after being briefly tagged at $669,000. This clearly shows that prices can tumble if sellers hope to see some action and that this change is perfectly consistent with my earlier predictions. As of today, Park City listings are reaching 3,531. Expect to see this list to grow and this trend toward lower prices increase over the next year or so!
Thursday, August 27, 2009
Real estate finally falling!
In the past couple of days, a few key indicators show that real estate prices are starting to though around Park City. A house that was originally priced around $2.5 million is now offered at less than $1.5 as a “short sale”. 
Another home priced at $1 million that sat for perhaps 18 month without seeing any action until a year ago is today priced at $616,000 after being briefly tagged at $669,000. This clearly shows that prices can tumble if sellers hope to see some action and that this change is perfectly consistent with my earlier predictions. As of today, Park City listings are reaching 3,531. Expect to see this list to grow and this trend toward lower prices increase over the next year or so!
Another home priced at $1 million that sat for perhaps 18 month without seeing any action until a year ago is today priced at $616,000 after being briefly tagged at $669,000. This clearly shows that prices can tumble if sellers hope to see some action and that this change is perfectly consistent with my earlier predictions. As of today, Park City listings are reaching 3,531. Expect to see this list to grow and this trend toward lower prices increase over the next year or so!
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