Park City Utah Real Estate News - Park City Real Estate News

Park City Real Estate Statistics Update Q2 2014

If we were asked how the market is we would have to say that we have been enjoying a healthy recovery, but in the recent months we are starting to see a slight slowdown in sales in certain areas. Over the last couple of years we have been enjoying a healthy increase in sales activity up to 2014. Now this year, we are starting to finally see a small decrease in the number of sales. This may be due to a couple of factors including more expensive listings, an uptick in mortgage interest rates, and a lack of inventory. If we had to give a more detailed reason for the slow down in sales, we would have to point to the overconfidence in today's sellers and the rapidly increasing listing prices. This seems to be across our entire market in all segments of…

2287 Views, 0 Comments

Historic Rio Grande Building Moves to New Home on Park Avenue

On Sunday, May 4th, the historic and highly recognized Rio Grande building was moved to its new, temporary location a few blocks down Park Avenue. The historic building is part of the upcoming 820 Park Avenue real estate development that will consist of 10 luxury residences and 4 commercial spaces.

The building was lifted, and secured to a large flat bed prior to Sunday's move. The building was then pulled down Park Avenue to its temporary location, a vacant lot at the 14th block on Park Avenue. Sunday was chosen because of the ability to easily close down the street for the move, which only took about a half hour. With the building now off-site, the developers will be able to begin excavation and removing soil to start the process of building the…

6098 Views, 0 Comments

Canyons Golf Course Planned to be Complete by September 30

According to a Summit County enforcement hearing on Thursday at the Sheldon Richins Building with TCFC Finance Co., LLC, completion of the golf course is expected by September 30. This has been a very long awaited event, with much doubt of its actual completion for the past decade. Summit County Deputy Attorney Jami Brackin reviewed the benchmarks TCFC has had to meet since May 2013, looking forward to those goals which are to be completed by September of this year.

Many of the required construction benchmarks up to the present have been completed, with the exception of progress on a new ski maintenance building. A recent dis-approval of the buildings new location may stall that portion of the development and construction, yet the goal is to still…

3408 Views, 0 Comments

Summit Sotheby's Wins Best of State Award

Summit Sotheby's International Realty was awarded Best of State, Utah's premier recognition and awards program, in the Business Services category for Real Estate/Appraisal. The Best of State Utah awards recognize Utah businesses, organizations and individuals who have made significant and innovative contributions to the quality of life in the state. A panel of expert judges from across the state selects winners by scoring nominees based on the overall quality of a company's program, innovation, and contribution to the quality of life in Utah.

"Summit Sotheby's International Realty sales associates have shown a long-standing commitment to real estate professionalism here in Utah, and across the globe," said Thomas Wright, President and Principal…

2852 Views, 0 Comments

Park City Real Estate Statistics for Q1 2014

The real estate market in Park City, Utah continues its recovery with an increase in sales, upward movement in median price, and historic low levels of inventory. More good news is that distressed properties are back to pre-recession levels.

PRESS RELEASE - FOR IMMEDIATE RELEASE:
Provided by the Park City Board of REALTORS®

Park City, Utah – Highest number of first quarter sales since 2007 —Statistics compiled by the Park City Board of REALTORS® Multiple Listing Service show the number of closed sales for the first quarter of 2014 (including single family homes, condominiums and vacant land) is higher than it has been for a first quarter since 2007. Surprisingly, with Park City real estate in strong demand, with total dollar volume just shy of $327…

2414 Views, 0 Comments

ONE Wasatch to Connect Seven Utah Ski Resorts.

Will Our Dream Finally Come True?

For many of us in Park City, we have dreamed of the opportunity to ski and snowboard from Deer Valley to Park City to the Canyons. It would be amazing to have one ski pass to access all three of our resorts. Even if not connected, just the ability to have one shared pass and the choice of going to each of the resorts on any given day would be wonderful. We all have friends who each year make a choice of which single resort they will buy their season pass too. Often, we miss skiing with good friends because we have our pass at one resort, while they are at another. With the price of lift tickets, its rare to go buy a ticket at a ski resort for a day, when you already have a season pass at another.

Click on map to…

5402 Views, 0 Comments

Now Taking Reservations - 820 Park Avenue at the Historic Rio Grande

Ten new luxury ski-in / ski-out homes to be built at the base of the Town Lift Ski Plaza in Old Town Park City. There will only be ten units and they will sell quickly as such a sought after property. The building will feature underground parking, and a large rooftop deck with hot tub, outdoor lounge area, BBQ and stunning views. Inside this top level will be ski lockers and a ski-prep lounge, the ideal place to begin and end your ski day. The building will be connected to the Town Lift Ski Plaza and offers easy ski-in, ski-out access and easy foot access to all that Main Street has to offer.

We are proud to be the listing agents along with our friend Dusty Orrell for this amazing new property. Old Town has always been our favorite location and…

5370 Views, 0 Comments

Old Town Park City Enjoying a Strong Recovery

Park City real estate in general is currently seeing a strong and healthy recovery. Sales activity is up for the 4th year in a row, and prices are moving back up as well. Of all the micro-markets of greater Park City, the community with the strongest gains is Park City's Old Town. Old Town has been a long time favorite location for both locals and for visitors. It's a highly unique area in that most properties are within an easy walk to popular historic Main Street and skiing at Park City Mountain Resort. As a much sought after community, we are now seeing a heightened level of activity as Old Town is being seen as one of the best places to own a home due to the year-round recreation it provides. The community also caters to all ages, and all members…

7111 Views, 0 Comments

Park City Real Estate Market Update for End-of-Year 2013

How is the "The Market"? Well, that depends on which market you're talking about. 2013 was an incredible year for our long awaited real estate recovery. Below we take a look at what happened, and where the market is hot, and where it is not. For example, Park City's Old Town seems to be on fire, while Lower Deer Valley is still in decline.

Park City Real Estate Demand - Pending Sales

We love to look at the trends of pending sales, as it is a great indicator of what the buyers appetite is, and it's amazing to see the seasonality of our ski town market of Park City and Deer Valley. Looking at the chart above (Thanks to Rick Klein at Wells Fargo for these great charts!), you can easily see the trends of buying over the years. Starting from the…

2677 Views, 0 Comments

Deer Valley New Construction: Stein Eriksen Residences

The new Stein Eriksen Residences provide the opportunity to own private, ski-in / ski-out homes and condos enhanced by the exclusive on-site amenities and Stein Eriksen Lodge's 5 star / 5-diamond service and management. This enclave consists of 16 distinct homes and 38 condominium residences with a sophisticated and contemporary style, and is located only one mile from the iconic Stein Eriksen Lodge just off Deer Valley's Last Chance ski run.

For more than thirty years the Stein Eriksen Lodge has set out and maintained a benchmark of unparalleled luxury and uncompromised service. Known throughout the world for its perfect blend of nature, amenities, and impeccable skiing, Deer Valley Resort® has been home to Steins and together they have created a…

9735 Views, 0 Comments