Park City Real Estate News

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.

Found 130 blog entries about Park City Real Estate News.

silver star condos in park city utah

The Memorial Day weekend is now here, typically the kick-off to the Summer selling season for real estate. For 2020, the typical trends have been turned upside down due to the ongoing pandemic of Coronavirus, or COVID-19. In Park City, Utah, things got real when on March 15th, both Park City and Deer Valley ski resorts made the tough decision to shut down the season early. That was when most Parkites began to "shelter in place," and resort workers and tourists began to leave town.

These events affected all commerce, including the real estate market. We have been watching data closely and reporting on the market trends. While most real estate outlets report on a simple comparison of Q1 2020 to Q1 2019, we choose to present more detailed information.

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Old Town Park City in Summer

As expected, activity is down by significant levels. However, it is fascinating that in these six difficult weeks, we saw 164 new sales go pending, 217 closed sales, and no decline for median or average price. In just these last six weeks, buyers purchased nearly $240,000,000 of real estate in the greater Park City area.

Below is a summary review looking at real estate market trends for March 15th to April 28th – the first six weeks of living under the new Coronavirus "Stay Safe, Stay Home" directives. For the total of the Park City MLS, all areas, all property types, we see the following trends:

ACTIVE LISTINGS
2,801 last year to 2,403 this year = Down by 14%

NEW LISTINGS
525 last year to 322 this year = Down by 39%

NEW UNDER CONTRACTS
345

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Prospector neighborhood in Park City Utah

What effect will COVID-19 have on the Park City real estate market?

Things have dramatically changed over the last few weeks as locally, nationally, and globally we settle into our new (temporary) lifestyle with limited face-to-face social interaction. On March 13th, 2020, the President invoked, for only the second time in history, a National Emergency through the usage of the Stafford Act in response to the global COVID-19 pandemic virus. On March 14th, both Deer Valley and Park City Resorts announced their early closures, starting on the 15th, thereby eliminating four valuable weeks of the ski season. March 15th, the Summit County Health Department issued a Public Health Order prohibiting all dine-in food service, and followed up with a

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Prospector Aerial Image of Park City Utah

At the end of the fourth quarter of 2019, the overall year-over-year real estate statistics for Utah's Summit and Wasatch Counties continued to show strong appreciation with increases in both average and median sale price as well as dollar volume as reported by the Park City Board of REALTORS® Multiple Listing Service. The Park City market in general continues to show great stability in single family homes. The number of homes sold increased 4% with the median sale price rising 12% year over year. During the same period in 2018, the median sale price gained 7% indicating a sustained period of steady, consistent growth.

The strongest single-family price gains appeared in the fast growing Jordanelle area to the southeast of the Park City metro area,

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Promontory's Nicklaus Clubhouse

Park City’s rapid growth and the accompanying expansion of real estate opportunities have encouraged certain developers to offer a particularly lavish addition to Park City’s already envious lifestyle: private club offerings. Memberships in these elite clubs offer an array of exquisite amenities, luxury services, and unmatched access to the finest Park City living. Amidst pristine landscapes flowing with opportunities for fun and family, each of these exclusive clubs allows members and their guests to live life to the absolute fullest.

Whether you’re interested in exploring the Wasatch backcountry or sunning yourself on the golf greens, there are a number of private clubs to cater to  varying needs and interests. Some appeal more to local residents

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Goldener Hirsch Residences

It’s no secret that Park City is officially on the map as a year-round mountain destination. There is a multitude of reasons we love our town, from the world-class skiing, the Greatest Snow on Earth, and divine natural surroundings. In a place so beautiful, the real estate opportunities are increasingly reflecting the majesty of its surroundings. Nowhere is this truer than at Deer Valley Resort and its impressive new residential builds. The upscale design, amenities and aesthetic all complement the luxury lifestyle that is synonymous with Deer Valley.

Goldener Hirsch Residences

An exquisite real estate opportunity from Austrian-style Goldener Hirsch boutique hotel is blossoming in Deer Valley's mid-mountain base area. Built on the final

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Residences at the Tower

Owning a luxury home in Deer Valley is a dream for many and a reality for few. The highly coveted lifestyle is characterized by stunning views, from expansive mountain landscapes to the waters of the Jordanelle Reservoir. With the bustle and charm of Park City’s Historic Main Street nearby coupled with Deer Valley’s famed ski slopes and mountain biking, it’s no wonder luxury developers are drawn to the area. A variety of new, on-mountain real estate developments are currently under construction at Deer Valley. In fact, there are so many exciting ones, that we are doing a two part series to highlight them. These impressive developments are designed to provide first-rate amenities to their residents with uncompromised hospitality. With access to skiing,

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St. Regis Deer Valley Snow Park Residences Living Room

NOW UNDER CONSTRUCTION IN THE SNOW PARK VILLAGE AT DEER VALLEY® RESORT

The Elegant Snow Park Residences at the St. Regis Deer Valley is located in the heart of the #1 ranked Deer Valley Ski Resort®. Since 2009, The St. Regis Deer Valley has brought the world class, highly acclaimed luxury hotel brand and amenities to Park City, Utah. Now, a select offering of 9 brand new, luxury Residences will enjoy the convenient Snow Park location, select private on-site amenities, and all the extraordinary benefits and services of the St. Regis Deer Valley.

ST. REGIS BRAND

What sets St. Regis apart is its rich heritage. From its creation in 1904 by John Jacob Astor, St. Regis was founded upon the tenants of tradition, innovation and luxury. Uncompromising

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Argent Deer Valley Exterior Rendering

East West Resorts has recently begun to release information on their upcoming new project in Deer Valley. Located next to Empire Residences in the Village at Empire Pass, Argent will feature an amenity rich building, with beautiful views, and direct ski access to the Silver Strike chairlift. Comprised of 28 residences, Argent's two, three and four bedroom family size homes range from 1,488 to 3,771 square feet. They capture stunning panoramas from Mt Baldy to the glistening Uinta Range with the night-lights of Main Street twinkling below.

The affluent Buyer Market has made a monumental shift away from buildings without amenities & services, and toward buildings that provide a lifestyle that extends well beyond just the Residence. Families that are

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Discovery Ridge single family home

Park City is the best town ever. No really, it was literally voted “Best Town Ever” by Outside Magazine readers in 2013. Park City continues to be both an optimal hometown and vacation destination because we’ve never sacrificed the natural beauty of our surroundings. This will continue to be the case for Discovery Ridge, a new, 72-acre residential development.

Perched near the border of Salt Lake and Summit Counties, the new mountain homes will be no more than 15 minutes away from both Salt Lake City and Old Town Park City. Protecting the landscape while enjoying natural surroundings remains a top priority for Discovery Ridge. Its future residents will have access to all the extraordinary experiences that make Park City the absolute best mountain

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