Current news and market updates for Park City real estate and Deer Valley real estate.  Updated often, a great resource to keep up to date on all happenings in real estate in the Park City and Deer Valley communities.

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…

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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.

At a quick…

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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…

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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,…

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PCBOR STATISTICS 2014 YEAR END

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%.

It's great…

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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!


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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…

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Q3 of 2014 shows fewer number of sales compared to same time period in 2013, but median sales price is trending upward.

The total number of closed sales, including single family homes, condominiums and vacant land, within the Greater Park City Area in the third quarter of 2014 is 12% below Q3 of 2013, with single family home sales down over 16%, according to the Park City Board of REALTORS®. Though the number of sales is down, median prices continue to climb at a gradual pace.

Single Family Home Sales

By property type, single family homes had the least activity in Q3. Within Park City Proper, there were 126 sales - down 20% from last year’s number, with the median price at $1,315,000. In Old Town, the median price of a single family home rose 28%…

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The Park City Area Lodging Association recently met with Blaise Carrig, President, Vail Corporation Mountain Division. As you'll see from the highlights below, the future for Park City is positive and we are quite optimistic for what is to come. The purchase of PCMR by Vail has been huge news in the ski industry and even more so for the local's who call Park City home. For investors looking for rental property, vacation homes or just a second home to spend more time, the town of Park City has never been more appealing than now. 

Vail Corporation (NYSE symbol MTN) has three divisions:

Division 1, the Mountain Division is their most profitable.

This operates 11 ski resorts in the US: Vail, Breckenridge, Beaver Creek, and Keystone (Colorado),…

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It's Official. Vail has bought Park City Ski Resort from Powder Corp.

Its been a turbulent couple of years with the height of uncertainty and litigation reaching boiling points very recently. Last week we all held our breath as the courts decided it would take a $17.5 million bond posted by Powder Corp. to remain on the disputed resort property and stay open for the upcoming 2014/2015 ski season. Vail had asked for roughly $123 million and Powder Corp asked for the bond to be between $1 and $6 million. Early this week we received news that Powder Corp has decide to post the bond, which meant Park City Mountain Resort would in fact be open this year, and would need to again post another $19 million bond if they decided to also be open for the next…

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Come out and see some of the most beautiful and luxurious homes in the Park City area and benefit some area charities at the same time. This year’s tour will be held on Saturday, August 9.

The annual Luxury Home Tour is considered Park City’s premier real estate showcase, and the 2014 show is its 23rd year. The Tour will feature some of the finest residences that the public would not otherwise get to see. This year’s event will present homes in the prestigious The Colony at White Pine Canyon.

This event is organized and hosted by the Park City Board of Realtors Philanthropic Foundation. This fundraiser was conceptualized to use the natural beauty of the Park City area to highlight privately owned luxury homes to raise funds and support for local…

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