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Park City Real Estate Update for August 2020

New listings topped last week’s excellent tally of 99 by three, up to 102, and continuing our streak of beating the same week a year ago. Residential new listings in the past 10 weeks totaled 921 compared to 708 in the same period last year, an increase of 30%.
· Pending volume since the last week in April is 74% higher than the same period a year ago. For the week ending 9/6, since we did not have a holiday until the 7thnew Pendings were 62% higher (99 vs 61) than in the same week in 2019. 
· We’re also back on a volcanic pace for Closings. In each of the most recent twelve weeks, closing totals exceeded those of the same week a year earlier. In the past twelve weeks we closed 810 transactions, up from 586 the year before (38% higher). Year to date we passed last year’s total by 34.

· Inventory hit another eight-year low mark this week at 1,547. Only one time in the past eight years was the September inventory below the 2,000 level (that happened in 2017). Noted above, new listings are hot, but Pending sales are hotter thus reducing available inventory.

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