Park City Utah Real Estate News - Sean Matyja

Goodbye Winter, Hello Summer

Park City's winter season is now over, with all three Park City ski resorts now closed. Even though we had much less snow this year, especially compared to the ultra amazing year we had last year, it was still a lot of fun.  Instead of snow, we did get a lot of sunny days on the mountain. And although we had less snow, we still had a couple really great days, so we cannot complain too much!

If you still have the desire to get out on snow, Brighton, Alta, and Snowbird are still open. Brighton and Alta will be closing soon, while Snowbird will stay open for at least a few more weeks. Snowbird usually remains open for a couple weeks after most resorts close, and then they switch to a weekends only schedule for the remaining few weeks. They will stay open…

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Mountain Biking conditions are already good!

Where can you ski or snowboard in the morning, and then go on a great mountain bike ride in the afternoon?  Park City of course!

Its that time of year again where we get a little sad to see the winter season dwindling down, but also quite excited to see some of our great singletrack trails drying out and becoming ready to ride. A couple days ago I had a fun time taking a few cruisers on the groomers at PCMR, and a few laps in the Superpipe - still love riding that scary thing. Then went home and got a little work done (as a Realtor sometimes I can shuffle my schedule around as needed).  Then in the same day, in the afternoon, I took my bike back out, infkated the tires back up, and had a great first ride of the year out in Round Valley. Snowboarded in…

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BEST POW DAY of the Year!

We just received nearly 3 feet of snow in the last 2 days! It started out as rain which was quite upsetting for mid-March! I was at Silver Star at Park City the other day watching two families checking in for the week, and such long faces of sadness they had! I did tell them not to worry, that the rain would soon turn to snow and it would get really good, I was hoping I was correct.

I was. The rain we saw on saturday quickly turned to snow, and did not stop. Yesterday might have been good as well, but we waited until today to go up. It was amazing, probably the best day of the year. We have had a few other really great pow days, but this was quite good. Heather and I got up there right away at 9am, and did runs until about noon. We took a few on…

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A CHANGING MARKET for PARK CITY REAL ESTATE

After 5 years of decreasing prices, and seeing some great buys come and go, we are noticing some significant changes in our market. The major changes are Declining Inventory and Multiple Offers. For a while now we have been talking a lot about trying to recognize if we are at the bottom of the market. We have known, or had a strong feeling that we were there, but pin-pointing it is tough. Often you cannot truly identify the bottom until you have passed it. We are now starting to see the Pendulum beginning to swing to the other direction.

Declining Inventory
There simply is less to choose from now in our market. Many of the distressed properties have been bought up, and many of the low priced "deals" also have been sold. Don't worry, there are still great…

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Sotheby’s International Realty Brand Strengthens Presence in Aspen, Colorado

If you are considering buying is Aspen, or selling in Aspen, we can help find the best suited Sotheby's Realtor for you. Let us help connect you through our Sotheby's network.

Sotheby’s International Realty Affiliates LLC today announced that Morris & Fyrwald Sotheby’s International Realty in Aspen and Carbondale, Colo., has combined with Chaffin Light Real Estate in Aspen, Snowmass Village and Basalt, and now will operate as Aspen Snowmass Sotheby’s International Realty.

Aspen Snowmass Sotheby’s International Realty will serve the entire Roaring Fork Valley from Aspen/Snowmass to Glenwood Springs. Mark Overstreet serves as president of the new company and will report to a management board of Ernie Fyrwald, Andrew Light, Craig Morris and Garrett Reuss.

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Recognizing The Buyer's Market "Sweet Spot"

Real Estate Market Fundamentals - Recognizing The Buyer's Market "Sweet Spot"

Nobody Buys in A Buyers Market!
Why is it that when we are in a Seller's Market, buyers line up and compete with each other to buy with multiple offers trying to out bid each other, but once we are finally in a Buyer's Market, the buyers won't buy? In the Buyer's Market everyone is frozen with fear. They are watching and waiting, and watching and waiting for some signal that we are in the absolute bottom point of the bottom of the market. But guess what, no one rings a bell once we hit the bottom. There is no memo sent out to potential buyers, there is no breaking news forecast, there is no alarm sounding off. So how do buyers know when we are truly at the bottom of the…

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Park City Real Estate Market Update - 2011 End of Year Report

It's still a Buyer's Market but the inventory is going fast.

Real estate sales in Park City surpassed the billion dollar mark for the seventh time in 2011. Year-end statistics from the Park City Board ofREALTORS® show an overall sales dollar volume of $1,077,426,368, up 6% from $1,013,432,555 for 2010. The number of sales continue to trend upward with 1,662 closed sales for 2011, up 17% from the 1,418 closed sales in 2010 and up 32% from the 1,131 sales in 2009.

Inventory levels have decreased since last year, with about 2,300 properties listed for sale compared to about 2,750 in 2010, a 13% decrease. Sales activity remains strong, which can be attributed to the reduced home, condominium and vacant land prices and the positive economic conditions in the…

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Another Foot of SNOW!

We just had another small storm come through over the weekend, and received about a foot of snow in the upper elevations of the Park City ski resorts  I think the storm was a surprise to everyone as we were not expecting much more than an inch or two. As we got up late Sunday morning we looked outside and were surprised to see about 6 inches on the top of the hot tub. We even slowly got ready and once I finally was out to snowblow the driveway I started to realize it could actually be a good day on the mountain. We went up to Park City Mountain Resort and had a great day. The Snowbird snow report had mentioned only 5 inches, and Park City and Deer Valley reports mentioned less. I think much of the snow fell in the couple hours after the reports were made,…

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Park City Real Estate Market Update

Park City 2011 End of Year Stats

Below are some quick snapshots of the Park City real estate market comparing 2011 end of year numbers with the previous year. Also compares the overall price decrease from the height of the market in 2007. We will soon have a more detailed report once we complete our End of Year Statistics Report with the Park City Board of Realtors statistics committee.

When we first ran these numbers for this article, we were surprised by the huge amount of decrease in our Park City real estate 2011 median sold prices from the 2007 median sold prices. The amount of decrease is astonishing. Activity sure has been up since the slower years of 2008 and 2009, and here you can see why. With these lower prices on ski homes and condos, we are…

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Freestyle World Cup at Deer Valley Utah

Deer Valley will host the 2012 FIS Freestyle Ski World Cup event this season! Competitors from around the world will challenge each other and themselves on Deer Valley's 2002 Olympic runs. All events, including concerts, are free to the public. The festivities will begin February 1, 2012 with Robert Randolph and the Family Band playing on Lower Main Street in Park City.

Its amazing events like this that makes buying real estate in Park City and Deer Valley such a fun investment.

If you have not been to one of these events yet, you have got to go. This is a highlight of every winter in Park City and Deer Valley. The events are hosted at night, so you can ski all day, and then watch the events under the lights at night. You may have seen the moguls…

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