Park City Utah Real Estate Blog

Luxury Hospitality Brands Broaden Buyer’s Market 

Park City, Utah – April 22, 2011 – As reported by the Park City Board of REALTORS® Multiple Listing Service, real estate sales in the first quarter of 2011 in the Park City area looks much the same as it did in 2010. As predicted at the beginning of the year, real estate activity in the Park City area continues at about the same pace as what was seen in the latter half of 2009 and throughout 2010, with activity remaining steady and prices remaining low. Well-priced properties continue to see significant buyer competition through multiple offers and foreclosures remain a significant part of the market.

“Current activity levels are helping to reduce overall inventory,” declared Patrick Giblin,

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Sales Volume Exceeds Billion Dollar Mark in 2010

Park City Board of Realtors Press Release

 

Park City, Utah – January 28, 2010 – Real estate sales in the Park City area, as reported by the Park City Board of REALTORS Multiple Listing Service, surpassed the billion dollar mark, putting 2010 as one of only six years where real estate sales reached that benchmark.

Overall sales dollar volume for 2010 was $1,009,582,720, up 16% from $867,430,118 for year-end 2009.  The number of sales continues to trend upward across the board for almost all property types, with 1421 closed sales for 2010 compared to 1131 in 2009 and 1341 in 2008.

Current activity levels are as high now as they have been in the last three years.  The most significant increase in

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First of all, mortgage interest rates are still great, at the very low 4.25% for conforming 30 year loan. A 15 year loan is only at 3.25%. With low prices, and these low rates, and with decent amount of inventory to choose from, its a great time to be a buyer.

National Real Estate
According to the National Association of Realtors, in July Pended Home Sales Index slipped 1.3% to 89.7% in July from 90.9 in June, but is 14% above the index of July 2010. In Park City we did comparatively better in unit sales. Pended sales for Park City, looking at year January thru August of 2011, we are up by 21% (for unit sales pending) compared to the same time period in 2010. Compared to the same time period for 2009 we are up by 73%, and co pared to 2008 we are up by 53%.

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Once again, Utah proved it not only boasts the Greatest Snow on Earth, but plenty of it. Snow continued through Memorial Day weekend, and Utah had the most snowfall on record during the 2010-11 ski season. And the season isn’t over yet. With a 175-inch base Snowbird remains open on weekends through the July 4th holiday. As the last remaining ski area open, the Bird has reported over 760-inches for the season. This is truly remarkable given the average annual snowfall is an impressive 500-inches. Park City resorts had about 35 percent more snowfall this winter than in 2009-10.

Early and abundant snowfall brought a substantial increase in visitors this winter, demonstrating the continued health of the local economy, despite the national economy being slow to

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Summer in Park City is known for enjoying music outdoors with the mountains a natural backdrop. Promontory has hosted wonderful musical acts in for years, with the ever-popular Bluebird Café series and our summer Promontory Foundation benefit that has featured acts including The Temptations, Brian Wilson of The Beach Boys and BeatleMajesty.


The Amphitheater will be one of the Shed's most prominent features. The stage will look out on tiered, lawn seating that can accommodate tables for semi-formal events or picnic baskets and blankets for more casual performances. The Amphitheater will also include a dance floor in the mosh pit, so the whole family can get into the act!

The Kid's Club will organize Promontory's younger Thespians to show off their

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