Utah Summit Sotheby's International Realty Participates in Luxury Real Estate Conference

Park City, UT (PRWEB) December 3, 2008

Summit Sotheby's International Realty, a firm that specializes in luxury real estate in Utah recently participated in the 4th Annual Sotheby's International Realty® Leadership Forum. The dynamic, two-day event brought together Sotheby's International Realty owners and managers. The focus was on networking and learning to effectively market luxury real estate in today's changing market.

"The annual Leadership Forum gave us a clear understanding of how to capitalize on the international and national network of luxury real estate buyers available exclusively through Sotheby's," said Thomas Wright of Summit Sotheby's International Realty. "The Utah luxury real estate market is a perfect fit for Sotheby's discriminating buyers. We look forward to exposing our properties to them."

The networking event was held Nov. 17 to 19, 2008 at the Hyatt Regency Jersey City on the Hudson, Jersey City, N.J. Summit Sotheby's International Realty, has offices in Summit and Salt Lake counties. The firm offers exclusive Sotheby's International Realty marketing, advertising and referral services to attract well-qualified buyers to Utah's luxury property listings.

The firm and its clients benefit from an association with the Sotheby's auction houses around the world. "We are affiliated with the Sotheby's auction houses which auctions fine jewelry, art, and unique furniture. When clients from the Sotheby's auction houses are looking for luxury real estate, they are referred to Summit Sotheby's International Realty based in Park City and Salt Lake City," Wright said.

According to Summit, Utah luxury home sales in Salt Lake and Park City are still strong, despite the downturn.

• The average sales price in Park City is just over $2 million. There are currently 374 homes on the market with prices up to $28,000,000. The average days on the market are 139.
• In the month of October, 16 homes sold with an average price of $784,306. The sold properties were priced up to $1,662,500. The average days on the market have been 131.
• There are currently 1,716 homes for sale in the Salt Lake City area with prices up to $7,995,000. The average days on the market are 91.
• In the month of October, 197 homes were sold in Salt Lake City. The high price was $2,500,000. The average days on the market have been 67.

The Conference addressed the economic challenges facing the luxury homes market. "As many countries around the world continue to face tough economic challenges, our focus during this year's conference centered on financial planning, with expert speakers in economics, real estate operations and financial analysis," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC.

About Summit Sotheby's International Realty:
Summit Sotheby's International Realty professionals unite extraordinary homes with extraordinary lives. We represent properties located in Utah's most beautiful and highly desired locations in both Salt Lake City and Park City.

Summit Sotheby's International Realty is located at 1283 Deer Valley Drive in Park City, Utah and 2545 E Parley's Way in Salt Lake City, Utah. For additional information, please contact (800) 382-7183.

Park City luxury homes and Salt Lake City, Utah luxury homes are listed with Summit Sotheby's International Realty are marketed on the sothebysrealty.com] global Web site, as well locally at http://www.summitsothebysrealty.com .

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