Park City Utah Real Estate Blog

Heli skiing at Diamond Peaks
Photo Credit: Luke Kupersmith

Heli Yeah!

Accessing Utah’s backcountry via an aerial elevator is the ultimate lift.

The dream: heli-skiing in Alaska.

The reality: sitting around in a drafty lodge, playing games on your phone, and waiting for the conditions to improve or the storm to clear so the choppers can fly.

When you [hope to] heli-ski up north, it’s not uncommon to spend several days (sometimes your entire vacation) doing everything you can to take your mind off the fact that you’re not skiing.

So how do you fulfill the quintessential skier’s dream without taking out a second mortgage and pledging personal sacrifices to Mother Nature’s collection of heli gods? The answer is Utah’s Diamond Peaks Heli-Ski Adventures.

Located in the

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New salt lake city airport

Image courtesy of slcairport.com

Whether you’re visiting Park City for Spring Break, or planning a vacation after the resorts close, you’re cleared for takeoff at the new SLC International Airport.

Stunning architecture, museum-quality artwork, couture shopping, and five-star dining. These amenities likely conjure thoughts of London, Paris, or New York City — not commercial air travel. But believe it or not, they’re also fitting ways to describe the new Salt Lake City International Airport.

Lauded as a “cathedral to transportation,” Phase I of the country’s newest airport opened in September of 2020 after 25 years of planning and over three years of construction. Topping out at over four million square feet and a $4 billion price tag, it’s

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upper deer valley ski resort homes

For many reasons, 2020 has been a crazy year that we will surely never forget. As we reflect on this past year, progressing through another busy holiday season, we feel very fortunate to live in a place as wonderful as Park City, Utah. When the pandemic started and the ski resorts closed earlier this year in March, we anticipated the real estate market would essentially shut down. In contrast, real estate in Park City has thrived.

As of December 22, comparing year-to-date of 2020 to 2019, we see some significant numbers. Interestingly, we see almost the exact amount of total listings of 7,001 in 2019 to 7,021 in 2020. However, the number of listings under contract grew dramatically from 3,005 to 4,577 - a massive 52% increase. In closed sales, we

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luxury home in park meadows in park city utah

When people ask, "What is the real estate market like right now?" our answer is, "Remember back in March when you were trying to buy toilet paper... Well, it's kinda like that."

What a crazy summer it has been here in Park City. With Coronavirus concerns throughout the country and the world, we have so many people relocating to our normally quiet little mountain town. Everyone who has a second home or vacation condo in Park City has been staying here all summer. Many of these residents have been buying larger properties to upgrade to living in Park City full-time. We also have many new visitors in town, buying property, making Park City their new home. Never has our market seen so many luxury home purchases, with so many record sales and new

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Pending Listings By Week In Park City Utah

Facts and Observations on the Real Estate Market in Park City, Utah.

Hard to believe it's the last day of June, and we are almost at the 4th of July weekend. You would think a pandemic would cause the time to drag along; instead, the days have been rushing by. It's hard to keep track as to what day it is. The July 4th holiday is typically the unofficial start to the busy selling summer season. With activity so high already, we wanted to review statistical data for the year.

The Facts

For the entire Park City MLS, year-to-date for all product types, and all categories, comparing last year to this year.

Total Active Listings
4,782 last year compared to 4,269 this year - Down by 11%

New Listings
2,507 last year compared to 2,157 this year -

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Summit County Issues New Joint Public Health Order: Masks Required in Community Gatherings and Publicly Accessed Indoor Spaces

The Summit County Council has adopted Joint Public Health Order 2020-08, requiring “all individuals currently living within or visiting Summit County, Utah, to wear a face covering that completely covers the nose and mouth” under certain conditions. This exemption was approved by Governor Gary Herbert based on a request sent by Summit County Council Chair, Doug Clyde, Summit County Manager, Tom Fisher, and Summit County Health Director, Dr. Rich Bullough. This Order went into effect at 12:01 am on Saturday, June 27, 2020.

Joint Public Health Order 2020-08 requires mandatory face coverings in any indoor spaces that allow the

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silver star condos in park city utah

The Memorial Day weekend is now here, typically the kick-off to the Summer selling season for real estate. For 2020, the typical trends have been turned upside down due to the ongoing pandemic of Coronavirus, or COVID-19. In Park City, Utah, things got real when on March 15th, both Park City and Deer Valley ski resorts made the tough decision to shut down the season early. That was when most Parkites began to "shelter in place," and resort workers and tourists began to leave town.

These events affected all commerce, including the real estate market. We have been watching data closely and reporting on the market trends. While most real estate outlets report on a simple comparison of Q1 2020 to Q1 2019, we choose to present more detailed information.

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Old Town Park City in Summer

As expected, activity is down by significant levels. However, it is fascinating that in these six difficult weeks, we saw 164 new sales go pending, 217 closed sales, and no decline for median or average price. In just these last six weeks, buyers purchased nearly $240,000,000 of real estate in the greater Park City area.

Below is a summary review looking at real estate market trends for March 15th to April 28th – the first six weeks of living under the new Coronavirus "Stay Safe, Stay Home" directives. For the total of the Park City MLS, all areas, all property types, we see the following trends:

ACTIVE LISTINGS
2,801 last year to 2,403 this year = Down by 14%

NEW LISTINGS
525 last year to 322 this year = Down by 39%

NEW UNDER CONTRACTS
345

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Dollys bookstore in park city utah

Park City High School Class of 2020 yard signs are welcome sights on graduating students’ front years throughout our town. In light of the disruption of their senior year, this was a heartwarming way for high school staff to recognize them. Not only does this demonstrate Park City’s remarkable sense of community, but it serves as a reminder that we still have several occasions we need to find ways to celebrate, even in the midst of the coronavirus pandemic. In addition to graduations, there are birthdays, anniversaries, and Mother’s Day coming up on May 10th. While Park City store fronts are closed due to the Summit County Stay at Home order, many are still offering online shopping or shopping by phone. Some even deliver gifts. There is no excuse to

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Prospector neighborhood in Park City Utah

What effect will COVID-19 have on the Park City real estate market?

Things have dramatically changed over the last few weeks as locally, nationally, and globally we settle into our new (temporary) lifestyle with limited face-to-face social interaction. On March 13th, 2020, the President invoked, for only the second time in history, a National Emergency through the usage of the Stafford Act in response to the global COVID-19 pandemic virus. On March 14th, both Deer Valley and Park City Resorts announced their early closures, starting on the 15th, thereby eliminating four valuable weeks of the ski season. March 15th, the Summit County Health Department issued a Public Health Order prohibiting all dine-in food service, and followed up with a

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