First Quarter Realtor stats are good news for Park City

(Park Record) Things are looking up for Realtors.

During the first quarter of 2010, Realtors sold nearly twice as many properties worth more than double the dollar volume from the first quarter of 2009.

It wasn't hard to surpass the dismal figures from early 2009, but selling 325 units worth $303 million would have been a respectable quarter not too many years ago. These increases were true for all property types, according to the First Quarter Report from the Park City Board of Realtors.

This isn't necessarily good news for home owners hoping to sell for a quick profit. In the Park City area, sales prices for the year preceding March 31, 2010 were down about 20 to 30 percent from the year preceding the same day in 2009 which were sale prices close to the peak from the real estate boom.

The lower prices and more frequent sales were directly correlated explained board president Mark Seltenrich on Monday.

People were reluctant to let go of the perceived property values generated by the boom in 2009. Over the past few months, people needing to sell have priced "correctly," and sales have followed, he said.

The auctions in January held by Accelerated Marketing Partners made a significant impact in setting values, he said.

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