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 161 blog entries about Park City Real Estate News.
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
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
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
NEW CONSTRUCTION AT THE BASE OF TOWN LIFT ON MAIN STREET
At the intersection of the Historic Main Street and the Town Lift lies the Heart and Soul of Park City Utah.
The last remaining parcel connected to the Town Lift Plaza will be going under construction this spring 2014. 820 Park Ave is an extremely rare and unique property as owners will enjoy the dining, shopping and nightlife of Park City's Main Street as well as the year-round recreation provided by the Town Lift to Park City Mountain Resort. This luxury condo building will feature a mountain-contemporary styling with the highest level of finish.
The building will be connected to the Town Lift Plaza so owners will walk right out their door to skiing and lift-serviced
The St. Regis Deer Valley is one of three pinnacle hotel real estate options in Park City, Utah. The other two are Stein Eriksen Lodges and The Montage. Each has its own unique aspects that truly sets these three properties apart from the other real estate offerings in Park City and Deer Valley. One of the most successful resort hotels in North America, the St. Regis Deer Valley has closed nearly $200,000,000 in sales since opening in December 2009. For buyers researching real estate in today's market, below is some helpful information on why to choose ownership at the St. Regis.
Ownership costs have been extremely stable. The HOA dues and property taxes have actually decreased since 2010.
Below is a list of our 5 top picks for ski-in/ski-out homes in Park City. This also includes Deer Valley and Canyons ski resorts, all three are within the town of Park City Utah. As local Realtors who live and work in Park City, we fully know the benefits of certain ski homes over others. While some ski homes may be more magnificent than others, and more luxurious, this list showcases our favorites for many reasons, as we state for each listing. You can read about each home below, and then click on the link to view more details on the home as well as other similar homes listed for sale.
Number 1: 8 Ruby Hollow in Red Cloud
Best Ski-in/Ski-out Access in Deer Valley's Empire Pass Best of the best, at the very top of Deer Valley. 8 Ruby Hollow
Park City, Utah - October 24, 2013 – Park City real estate is building momentum in 2013. To date every month of 2013 has had a higher number of closed sales than in the same month last year, according to data released by the Park City Board of REALTORS®. The number of sales for the entire Park City market area, reached 1,668 in quarter three—that is 26% over last year’s number. With a total sales dollar volume reaching $1.19 billion, the third quarter of 2013 is up 34% compared to last year as well. The President of the Park City Board of REALTORS® said, “Our Realtors sold more in the first three quarters of 2013 than we did during all of 2012.”
Inventory
The current number of active listings on the Park City Multiple Listing Service is
After such a long Buyer's Market through the recession, it's hard for many buyers to believe that we are in a Seller's Market. It's a tough adjustment for many as the Buyer's Market was so long that it had become the norm. Today's buyers still expect to get what they want, and for many, they are being shocked as the sellers are rejecting their offers, something buyers are not used to. The level of expectations of buyers today is high. Buyers who are living in the past are often asking for too much, and pushing too hard. They are stunned when sellers do not give in to their demands, and the outcome is many deals are falling apart, or simply never come together to begin with. The other problem for Buyers is waiting too long to make a move. Many find good
After the real estate meltdown, we had been experiencing a lot of difficulty with financing for our ski town condo properties. We were often unable to find financing for our clients looking to purchase condo-hotel properties. The problem with that was that so many condominium developments here in Park City and Deer Valley fell into the condo-hotel classification. This has been a problem found in many resort markets. Additionally, when clients insisted on using a lender outside of our Park City resort market, they were ill-equipped to handle the condo-hotel difficulties, and often totally unaware of the pitfalls associated with them. It was common to get all the way to the end of underwriting to finally be told
"Can I sell my home on my own, as a For Sale By Owner?"
As the real estate market continues to heat up, many homeowners are questioning if they can sell on their own and save on the commissions that would be paid to a real estate agent. Yes, you could try it yourself, and you might be succesful, and you might save some money - but, it is a risk. Selling real estate is more complicated than people would think. When a real estate transaction goes through smoothly, most sellers and buyers do not quite realize that the smoothness may have been from the expertise and professionalism of the Realtors involved. However, if you want to know a little more about selling on your own, we have some good info for you below.
