Featured Neighborhood - Silver Springs in Park City

Posted by Sean Matyja on Saturday, June 29th, 2013 at 1:25pm.

A Favorite for Year-Round Residents and Families

Silver Springs is a popular neighborhood for homes in Park City. Why is this neighborhood so popular? Its location, homes, and environment fit the Park City lifestyle very well.

Silver Springs is located near the base of the Canyons Ski Resort (now run by Vail Resorts) and is only a couple minute drive to skiing in the winter, and biking in the summer. As with all neighborhoods in Park City, this community also benefits from being so close to Park City Mountain Resort and Deer Valley ski resort as well. Silver Springs is in the MLS area of Park City commonly referred to as "Park City Extended". Park City or "Park City Proper" would include all the areas located inside the White Barn (south of the monumental White Barn), and all the Park City areas outside of the White Barn are known by Realtors as Park City Extended. As Park City has grown, Silver Springs has become to be viewed as a still very central location, yet not quite as expensive as being inside city limits, or within the White Barn.

Location of Silver Springs in Park City

Silver Springs is close enough to everything to be very convenient, yet enjoys a little lower price range from what you might find in Park Meadows or Thaynes Canyon. The homes in Silver Springs range from about 2,000 SF to 4,500 SF, not too many will be larger than that. Many of the homes enjoy some custom features such as vaulted ceilings, wood timbers and beams, custom finishes, and beautiful trees and outdoor landscaping. The homes are starting to get a bit older, so buyers are often looking for homes that have been remodeled or updated. If you desire, you can also find some homes that still have the older finishes, but great layouts. This way you can buy for less, and do your own customizing and remodeling yourself.

Beautiful Park and Ponds in Silver Springs

One of the most popular things about the homes in Silver Springs is the abundance of mature trees, which is harder to find in other similar areas like Sun Peak and Trailside. The neighborhood is also on flat ground which is generally preferred over Sun Peak's hilly terrain, at least for families with kids. Its very easy for the kids to ride bikes to each other's homes without having to climb big hills.

The comunity also boasts two large ponds with some of the best homes backing to the ponds. There is an amazing park on the big pond with playground equipment, large grass fields, and places to sit and enjoy the shade. With the emergence of standup paddle boarding, you'll often see people cruising the pond on their boards.

Real Estate Market Update for Silver Springs

Silver Springs is always a sought after neighborhood, and it can be challenging finding a home to buy. If you are looking in Silver Springs, you'll need to get pre-approved for a loan, and be ready to act fast when the right fit comes up. As of today, June 28, 2013 there are only 10 homes for sale priced from $571,000 to $1,389,000. The average list price right now is at $816,000, for single family homes. There are also 8 homes in Silver Springs pending sale. In the last 90 days there have been 17 closed homes. The selling prices were from $541,000 to $1,055,000. Summer is typically the busy season for this neighborhood, whereas winter is the busy season for the ski vacation properties. The other primary resident communities such as Park Meadows, Thaynes, Prospector, Pinebrook and Jeremy Ranch are all also more active for sales in the summer months, when the kids are out of school. You can also find some condo and townhome choices in Silver Springs if the homes are getting too expenisve. These can provide another great option to live in this neighborhood. Nightly and vacation rentals are not allowed in the area, so if you plan to buy a vacation rental/investment property, you would need to look into other areas.

If you are looking for a home in Silver Springs let us know and we can keep our eyes open for you. If you have questions on the community, or would like a more detailed report of recent sales, we can provide that as well.

Sean Matyja - Realtor® / Associate Broker
Mobile: (435) 901-2158 | Email: sean@enjoyparkcity.com 

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