Above: Views from the ridge looking back to Park City
The highly anticipated Quicksilver Gondola was installed this summer and is now open! The connection between Park City Mountain Resort and Canyons creates the biggest ski resort in the United States, offering 40 lifts, 314 runs and 7,300 acres of skiable terrain.
We took a couple laps on Friday and we would have to say the new gondola connection is pretty cool. The views are amazing and its surprising how quick you can get to the gondola from the Park City side. A simple quick ride up the Crescent chairlift, then down to the bottom of Silverlode, which is the home of the gondola’s Park City side base.
Above: The new Miner's Camp Lodge at Park City Resort
These are exciting times to be in Deer Valley and Park City, Utah. Deer Valley Resort® has been a long time top ranking ski resort in SKI magazines reader’s polls and many other ski publications. And now Park City is owned by Vail, has merged with the Canyons resort, and is now one giant ski resort. In fact, it is now the largest ski resort in North America. They have been connecting the two ski resorts into one, and have made numerous grades to the tune of $50 million.
With all the new hype focused on the resorts, it is bringing the opportunity for new real estate developments, specifically luxury ski-in, ski-out communities at Deer Valley and Park City’s Canyons Village. Below we are giving you a sneak-peek of a few new upcoming developments that
Closed sales for the first nine months of 2015 are the highest since 2007
At the 2015 third quarter end, both the median sales price and the number of closed sales continued to trend upward despite the number of active listings hovering at historically low levels in the Greater Park City Area. By property type, including single family homes, condominiums, and vacant land, for the entire market area, there was a 12% increase in quantity sold and 10% increase in median sales price compared to the previous four quarters, with condominium sales accounting for half the closed transactions, according to statistics released by the Park City Board of REALTORS®. Year-over-year the total dollar volume was also up 20% reaching $1.85 billion.
Park City Mountain Trail Map - Click to view larger version.
Park city ski resort is moving along quite well with their $50 million of improvements for the upcoming 2015/2016 ski season. Shown above you can see the new trail map that shows the two combined resorts. Park City Mountain Resort and Canyons Resort have now been combined to become Park City Mountain. The new resort will now be the largest ski resort in the country.
The most significant of all the changes and upgrades being completed this summer is the installation of the new Quicksilver gondola. This new gondola is the integral link that will connect both resorts into one giant resort. In the photo below you can see the location of the base of the popular Silverlode chairlift at Park City
Here is a great mountain bike ride I would recommend to anyone looking for a long and fun loop. This recommended ride starts with Jenni's Trail at Park City Ski Resort. Jenni's heads up to Mid-Mountain Trail. Then you'll come back down the very fun and fast Deer Crest Trail.
The photo below is from the recently built and popular Jenni's Trail at Park City ski resort. This trail begins at the bottom of the resort near the first time ski lift. You can park at the base parking lots of Park City resort. The trail works its way up hill, all across the ski runs under some of the ski lifts and ends near the top drop off point of the town ski lift. Jenni's is a good upward climb, rarely levels off so its a bit of a grind but not too rocky or difficult. It
Park City, Utah – July 29, 2015, Number of closed sales and total dollar volume for the first half of 2015 are the highest since 2007. The total number of closed sales, year-to-date, for the entire market area was 9% higher than the first two quarters of 2014 and was the highest first half of any year since 2007, according to statistics released by the Park City Board of REALTORS®. The total dollar volume was up 11% and the median sales price continued to trend upward on a gentle curve in most areas. The Summit and Wasatch County market remains highly segmented; some market segments are drifting down while others are moving up.
Single Family Home Sales
The median sales price for a single family home within the City Limits (84060) over the past
Park City, Utah – May 18th, 2015, Number of sales for the first quarter of 2015 remains steady with prices rising gradually.
The total number of closed sales, including single family homes, condominiums, and vacant land, within the Greater Park City Area, for the first quarter of 2015 was 11.5% higher than Q1 of 2014 and 18.5% higher than Q1 of 2013. With another strong quarter in condominium sales, the number of closed transactions for the first quarter of 2015 marked the highest number of first quarter sales since Q1 of 2007. The total dollar volume for the first quarter was 17% above that of 2014 and 37% higher than 2013, according to statistics released by the Park City Board of REALTORS®. The median sales price for the Greater Park City Area,
Wow! we just had another storm roll through and picked up a lot of the lake effect snow. Here in town in Prospector area we had about 5 inches of snow and the PCMR mountain has reported about a foot of snow. This time of year, the Cottonwood Canyons will get considerably more snow than the Park City resorts, so knowing this well, I did the drive over to Brighton. Quite a great day, they had about 18 inches of snow. Some of the steeper slopes you would hit the crusty bottom occasionally, but on the more mellow slopes you could enjoy the bottomless floating sensation.
Brighton Ski Resort, April 15, 2015
The big news is Snowbird is reporting about 30 inches for the day, and had nearly 4ft of snow for the storm total! You can see their "Monster Dump"
Now that we have ended the year 2014 we can finally compare the end of year results to the previous year of 2013. Looking at the macro market level there was a total of 2,362 unit sales for our entire Park City multiple listing service in 2014. This was only up by 4% from 2013’s 2,265 unit sales. The total dollar volume sold in 2014 was $1.67 billion compared to $1.52 billion the previous year which gave us a 10% increase. The average selling price for the entire MLS was $672,000 in 2013 and moved up 5% to $707,004 in 2014.
So to recap for all product types in the entire Park City MLS: The quantity of units sold went up 4%, the total dollar volume sold went up 10% and the average sales price went up 5%.
Vail Resorts announces the most impactful capital plan in the history of U.S. ski industry with more than $50 million of improvements are planned for next season!
Click on Map to view larger version
Vail Resorts plans to link two of North America’s greatest ski areas – creating the largest resort in the United States with 7,300 acres of skiable terrain. The plan outlines more than $50 million worth of resort improvements in 2015 that include. Already, the EPIC pass allows skiers to choose which mountain to ski for the day, PCMR or Canyons. Soon the resorts will be connected.
The Interconnect Gondola
An eight-passenger, high-speed gondola running from the base of the existing Silver Lift at Park City to the Flatiron Lift at Canyons. When
