Utah Luxury Lifestyle Blog

You’ll find our blog to be a wealth of information, covering everything from local market real estate news, home design trends,  and fine living in Utah.  We share insights on favorite places for entertainment, fine dining and recreating in the Wasatch Mountains  along with general community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 19, 2019

Luxury Home Sales Nationwide Compared to Park City, Utah

Nationally there is a healthy group of buyers who are looking to buy a new home, and housing prices aren’t going up at steep rates as in past years. The slower rate of home prices contributes to a good buying environment. The housing marketing is stable through most of the nation with the eight states of Utah, Idaho Wisconsin, Indiana, Alabama, South and North Carolina and Georgia are the “hot” markets.

Still, sales of luxury home sales have declined nationwide due to rising mortgage rates, tax code rewrites, volatile stock market prices, and rapid home price growth. Economic and political uncertainty is creeping into the buyer’s soul in some of the country's most expensive markets. These subdued sales have cause luxury inventory to build up for the first time in years.

According to Mansion Global, "Home prices in the segment could begin to adjust if supply continues to build up and luxury buyers begin to reassess the value of their purchase. The result could see some sellers re-calibrate expectations, with more properties seeing price cuts." 

The differences in the country’s luxury housing markets are likely to become more noticeable in tax reform areas that have been negatively affected.  High-tax, high-income areas like California and New York see homes sales in general and luxury home sales, in particular, falling drastically.  However, Colorado, North and South Carolina, and Florida will continue to see strength in luxury housing markets with prices rising, and buyers becoming more enthusiastic.

The trend of slower luxury home sales is expected to continue through the second quarter of 2019, but there are some notable exceptions. One exception is Park City, Utah here sales of luxury homes are slowing, but are not stopping.

Park City is not a snapshot of national housing marketing or even the market in Utah. It is a distinct and very segmented real estate market. Luxury home sales started slowly in 2019, but various factors contributed to this anomaly. A snowpack that was 150% of normal, buyers wanting to ski and play rather than view properties, and sellers not wanting to move contributed to the slower sales.

The median home price in Park City, Utah, is about $899,000 and there are about 2,445 homes, including condos listed. Statistics indicate that the end of the first quarter of 2019 saw a slight decline in sales, but an increase in price. However, research shows that sold prices are rising compared to a year ago.  Property owners are lowering their list prices to sell their properties, and this brings in more buyers and investors.

Why consider investing or buying a home in Park City, Utah?  There are many reasons to consider buying in Park City. There are the soaring mountains and spectacular scenery at your door and an outdoor enthusiast’s dream destination. Park City has a special quality that makes it attractive to visitors, residents, and new buyers. It is alive and vibrant with access to an international airport.  The tax base in Utah is lower than in many states, and the educational values in Park City are very high.

There is a huge potential for profit in Park City. Buying a home in Park City, Utah gives you an almost instant return on our investment since the median home sale prices ha increase by almost 7% over the past year. There are new construction projects continually going on, and this gives Park City a growing real estate market.

Buying a home in Park City, Utah puts you in a stable buy-hold market. The area’s unemployment rates are about half of the national average, and the Park City economy is healthy. There is not a huge inventory of distressed homes, which makes Park City real estate an excellent investment.

So far this year, it has been a promising year for buying a home in Park City, Utah. The seemingly unending rise in home prices has started to slow, and mortgage rates have dropped to unexpected lows. Lower interest rates and lower home prices are good news for those who want to purchase a home in Park City, Utah, for family life or investment purposes.   

Higher taxes in different states, the lure of the mountains, high quality of life, and the nationally-ranked Park City High School are great selling points for buying a home in Park City, Utah.  Besides, what other area offers all four season and summers that average about 80⁰F and low humidity?

Aug. 1, 2019

Market Snapshot: Wasatch Back 2nd Quarter 2019

 

 
Here's a quick snapshot of the 2019 Second Quarter Market Statistics for the Greater Park City area. We will have a more in-depth MARKET PULSE REPORT coming out in a couple of weeks, so keep an eye out for that in your inbox.

In the meantime if you have any questions about the stats below or if you would like a more comprehensive evaluation for your areas of interest, please let us know. We would be happy to provide you with any information you need! 

 
Greg, Crystal, & Matt
 

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QUESTIONS ON YOUR TAX NOTICE?
Tax notices for both Summit and Wasatch Counties will have been mailed by early August.  If you need any assistance with understanding your valuation, comparable sales data can be quickly and easily provided to you. Just reach out via phone or email, or reply to this Market Snapshot. 
 
 

Greg Miner, J.D., Crystal Robinson, and Matt Green
Greg  435.668.7771  |  Crystal  435.655.1335  |  www.UtahLuxuryGroup.com

Posted in Market Updates
July 21, 2019

What's New? News for Park City, Heber Valley and Beyond

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Things usually happen fast during summer here in Park City, and this year is no different. There are a number of new projects going on in and around town, from infrastructure upgrades and affordable housing expansion to green transportation improvements and recreation facility development.

Hopefully the following newsletter will help shed a little more light on exactly what these projects mean to our community. If you've been around town this summer, you will likely have seen and heard a lot about these new developments. And if you haven't been up here in a while, you will see that there is a lot going on during our "off-season" here in Park City!

 

Sometimes it’s refreshing to look at Park City and the Wasatch Back from 35,000 feet to see what’s new. We can’t always see our own forest from the trees! Living, dining, recreating and exploring the Wasatch Back is never dull. There’s always something new to discover. Here are a few of our favorite highlights.
 
PCMR PARKING TO BE DEVELOPED
Vail Resorts Sells PCMR Parking Lots to Provo-based Developer
In late April, Vail Resorts announced the sale of the three parking lots on the Park City Mountain Resort side of their resort to PEG, a local Utah builder with deep experience developing mixed-use properties. The parking lots comprise almost 10 acres and it is expected that PEG will plan significant development. It has always been contemplated that a mix of condominiums, hotels, retail and skier services would be built, with parking going underground. Various plans have been submitted since 1990 when Park City Municipal approved an overall development plan for the parking lots. The current vision includes a hotel and spa, residences, restaurant space, retailers and services for skiers. It will also include what is described as “improved access to public parking” as well as transit and traffic infrastructure with workforce housing built on site.  
 
ROSS CREEK AT JORDANELLE
New SUP, Kayak and Canoe Beach at Jordanelle State Park
Ross Creek is a new recreation portal on the north end of Jordanelle State Park that debuted this summer to rave reviews. The newly improved access sits on the northern edge of the Jordanelle Reservoir and includes a new parking lot with restrooms (pit style) and a very convenient way to access the lake and the loop trail that circumvents much of the lake.

With no motorized boat access, this is a pleasant and safe way to enjoy the quieter, no-wake activities such as paddleboarding, kayaking and swimming.

Click to see map.

 
NEW AIRPORT ARRIVAL ACCESS
Salt Lake’s new airport in on schedule to open in 2020
If you fly into Salt Lake City International Airport this summer, you’ll notice a new access pattern heading up to Park City. The detour is a result of freeway reconfiguration as part of the new airport construction project, which is now in its final year of construction. Motorists heading east from the airport can go south on Bangerter Highway, then east on SR-201. Alternatively, UDOT suggests traveling west on I-80 to 5600 West then looping back onto I-80 eastbound. For up to date routing info click here.
 
NEW ROUNDABOUTS IN TOWN
Pinebrook/Jeremy Access
Summit County, in coordination with the Utah Department of Transportation (UDOT), is building two new roundabouts at the I-80/Jeremy Ranch/Pinebrook interchange. Multiple studies were conducted, and roundabouts were determined to be the most effective long-term solution to address growth and traffic congestion at this interchange. In addition to the roundabouts, bike and pedestrian improvements include a grade-separated trail, pedestrian-activated warning lights at the major crosswalks, and improvements to the underpasses. Click here to stay informed of daily traffic impacts and sign up for email updates. 
 
E-BIKES IN PARK CITY
Climb a Hill Like It's Nothing
E-Bikes are a fun way for recreational riders in Summit County to cover long distances on a bike. Summit Bike Share is a collaborative program with bike stations throughout the county. All of Summit County bikes have an electric pedal-assist (Pedelec) feature that delivers an extra ‘boost’ when riding. Pedelec bikes operate just like a regular bike and provide background power to help get up hills and throughout the course of riding. Riders just start pedaling and the bike will create the optimal ride based on terrain and tempo – no gears or buttons required. To find maps, information and download the app, click here.
 
HOP ON THE BUS GUS!
Park City’s free bus system is the greenest way to get around during our many summer events now that the fleet is mostly electric. It’s a fun way to tour town and meet lots of new folks.  Download schedules and routes and the mobile app here.
 
JORDANELLE PARKWAY CONSTRUCTION FAST TRACKED
The Utah Department of Transportation (UDOT) has fast tracked construction of the Jordanelle Parkway which will provide access between the new Mayflower development area off Hwy 40 to the Hwy 248/Browns Canyon intersection, thanks to funding made available by MIDA (the Military Installation Development Authority). The road could be complete before the snow flies this fall - though it is more likely that it will be finished by next summer.
 
ATHLETE HOUSING NEARING COMPLETION
AT UTAH OLYMPIC PARK

A new building is nearing completion on the hillside at Utah Olympic Park, right below the base of the 90- and 120-meter Nordic ski jumps. This four-story, 72 unit /146 bed facility will offer both long term apartment residences as well as short term lodging for visiting winter sport athletes.

The Olympic Park Residences are owned and operated by the Utah Olympic Legacy Foundation, who have created these affordable housing units as subsidized housing specifically for athletes & coaches who are actively training in winter sport and for employees of the Utah Olympic Park and Legacy Foundation.

There are extensive qualifying criteria – including income levels – that is part of a 2-step qualification process managed by the Legacy Foundation and regulated by affordable housing agreements with Summit County. Click here for more information.

 
COUNTY EXPANDS ELECTRIC VEHICLE CHARGING STATIONS

You can now charge up your electric vehicle in numerous locations throughout Summit County, thanks to the County’s commitment to sustainability and green practices. 

SUMMIT COUNTY EV CHARGING STATIONS
Currently, all county owned EV charging stations are available to EV drivers, without user fees.

  • Ecker Hill Park and Ride Lot at 2460 W Kilby Rd  | Park City
    Five (5) chargers for EVs parked and charging while using public transportation to help reduce traffic congestion.  Solar panels on the bus shelter roofs contribute clean, renewable power to the chargers at this location.
  • 1885 W Ute Boulevard | Park City: at the Sheldon Richins Government Services building/Summit County Library in Kimball Junction, adjacent to the Kimball Junction Transit Center, showcasing the future of electric transportation today. One (1) dual Level II charging station; Two (2) DC Fast chargers funded by Rocky Mountain Power, in partnership with Forth Mobility, promoting EV adoption among Uber and Lyft drivers.
  • 650 Round Valley Dr | Park City: at the Public Health Department in Quinn’s Junction (Park City). Two (2) dual Level II charging stations in the employee parking lot on north side of the building. 
  • 60 N Main St | Coalville: the county seat. Charging stations are located at the historic courthouse. Two (2) dual Level II chargers in the parking lot on the north side of the building;
    One (1) DC Fast charger in the parking lot on the southeast side of the building.
  • 110 N Main St | Kamas: the gateway to the Uinta National Forest. Two (2) dual Level II charging stations at the main entrance on the east side of the building.  
  • BW Heber – 171 Gateway Drive (ChargePoint Network)

 
TESLAS: There are 8 Destination Charging Stations throughout the county. Click here for details.

 

HIGH ALTITUDE HIKING

As of press time, the record snow year has meant that while almost all our local trails below 8,000 feet are in good shape, the high Uinta Mountains are still thawing. So if you’re headed up to high elevation trails, you should still expect some mud and snow patches. And don't forget to bring bug repellent!
 
KIMBALL ARTS FESTIVAL UPDATE

To celebrate their 50th anniversary and thank the community for supporting the Festival over the years, organizers are providing free access all weekend long for those who call Summit County home. If your primary residence is located in Summit County, Utah and you have a valid, government-issued photo ID to prove this (driver’s license, student ID, passport, etc.), then admission is FREE for you all weekend long. Click here for all the details!
 
WOODWARD ACADEMY UNFOLDING

POWDR is making great progress on construction of the Woodward Camp in Park City just off Kilby Road and I-80, where the former Gorgoza Tubing facility was located.

“Woodward provides aspiring athletes a place to safely progress their skills,” says John Cumming, Founder and CEO of POWDR, one of the last standing independent ski companies with multiple world-class mountains. “Having a Woodward in a venue that has hosted Olympic-level action sports competition, will, I believe, help to further inspire kids and enable them to develop. Park City is our home and we are extremely proud to be in a position to bring Woodward to our community and realize our initial vision for Gorgoza Park.”

The Woodward transformation at Gorgoza Park will include lift serviced snowboarding and skiing, terrain and skate parks, biking trails, and an indoor training facility for a dozen plus sports, including skateboarding, BMX, mountain biking, cheer, snowboard and ski. To accommodate safe progression in all these sports at the same time, the training facility will be roughly 52,000 Sq. Ft. and built with a dedication to protecting where we love to play through green investments in solar, green roofs and bioswales.

“The Woodward facility is different from any other game in town,” says Jody Churich, EVP and COO of Woodward, a POWDR company. “Our all-in-one, year-round programming for all ability levels which facilitates a culture built on inclusivity, a key value for Woodward, where skiers learn air awareness from gymnasts, boys learn from girls, videographers skate with Olympic hopefuls, and adaptive athletes train with those of all abilities. We are forever appreciative for all the support, including those who wrote letters and came out tonight on behalf of Woodward Park City.

The Academy Is scheduled to open for the 2019/2020 winter season.

 
With the summer in full swing, this is a great time to get out and enjoy all the concerts, trails, and links. It's also a great time to analyze your current real estate portfolio and plan for the upcoming ski season. Please reach out for up to date information.
 
Posted in New Developments
July 15, 2019

Park City: A Diamond in the Rough Now Sparkles Brightly

 

 

 

Park City is a jewel in the Wasatch Mountains and nestles at the south end of Snyderville Basin, climbs a steep mountain to the southeast, south, and west, and is surrounded by picturesque pine-covered mountains and alpine-like meadows. It is not a small mountain area – it covers a total area of 17,567 square miles, has an abundance of mountain streams, trails, and recreation venues.

Early History

Park City has a history that is as rich as its spectacular ski hills. Early Mormon pioneers traveled through Park City as they moved to Salt Lake City. Some settlers even stopped to build homes and take advantage of the stunning mountain views and open meadows just waiting for grazing.

Gold, silver, and lead ore discovered by Colonel Patrick E.Conner sparked miners to seek the Park City Area. In the 1860s the mining boom brought large numbers of prospectors setting up camps in the surrounding mountains.

 In 1872 the Ontario mine, discovered by Herman Buden and later purchase by George Hearst, was a rich silver strike just sitting on prime Park City property. By 1892 the Silver King Mine and owners Thomas Kearns and David Keith were renowned as holding one of the most famous silver mines in the world.

Silver was a thriving business in Utah as other silver mines around the world were becoming depleted. The town flourished with miners and wealth, but success in mining was not destined to last. By the end of the 1950s, the town was almost a ghost town, and Park City property was abandoned as the price of silver plummeted.

Park City has had a share of tragedy in the face of wealth. Once the site of the largest silver mining camp in the county, the town was destroyed by fire in 1898. In 1902 tragedy struck the area when 34 miners were killed in an explosion in the Day West Mine. Miners are a suspicious lot, and the community never totally recovered its mining glory after these tragedies.

The miners left in Park City turned to desperate measures to save their homes. Miners gave up their mining heritage and turned to the rising interest in the West and skiing. The town was barely alive when Parkite miners presented to Utahns Inc. a proposal for a ski resort called Treasure Mountain.

The resort opened in 1963 on 10,000 acres of land owned by the miners. Intense advertising enticed tourists to take a gamble on Treasure Mountain, and skiers began to visit Park City as a ski destination. Thus began the beginning of the ski industry in Park City, Utah largely promoted by the Utah State Legislature as a destination resort.

The miners took advantage of vast underground trains and shafts to gain access to the mountain for skiing. Aerial trams that were once used for hauling ore were converted to chairlifts. There are still more than 1,000 miles of old silver mine workings and tunnels beneath the slopes at Park City Mountain Resort and Deer Valley. Still, Park City property might be nondescript were it not for the colorful and eclectic Main Street. Here you can see 64 Victoria buildings that are listed in the National Register of Historic Places. Many remaining mine buildings, mine shafts, hoists, and water towers remain to give Park City a remembrance of its history.

Park City Today

The rise of the skiing industry, the tourist economy and D. James Canon’s promotion of winter sports in Utah drew over 658,000 tourists in 1970, and now a yearly average of 4 million tourists visit the small town. Park City’s fame rose even higher through the 2002 Winter Olympic games, and the promotional material carefully distributed by the Utah Publicity and Tourist Council. Visitors now flock to Park City to take advantage of the best homes for sale in Utah, the most prominent ski resorts in the world and to awe over the Sundance Film Festival. Park City has surpassed its former glory and is now one of the most affluent and popular resort towns in America.

Real Estate in Park City

Factors contributing to the phenomena of Park City reality is more than rising prices. It is low-interest rates, an expanding economy leading to an increase in luxury home buyers, the best homes for sale in Utah, and the high demand for ski properties. Architecture is becoming a high quality, and luxury finishes and features are being introduced as more buyers are seeking to spend more time in Park City and the surrounding areas.

Vacation homes are quickly becoming second homes, and second homes are becoming primary residences. The real estate bar is continually being raised, which is raising luxury homes and values. Today homes being built in Park City are much nicer and more luxurious than what has been the norm. Visitors come to Park City and stay to invest in Park City property.

Property values are increasing for new communities like Park Meadows, Prospector, and Silver Springs. Buyers are looking for luxury housing options in areas like Promontory, Tuhaye, The Colony, and Deer Crest. Many of these luxury housing developments are located in pristine aspen forests, rolling hills, and all with an abundance of freshwater streams.

The dream of miners to strike it rich with silver has now become an area that is prized for its ski in and out properties, gorgeous venues, and best homes for sale in Utah. If you are looking for the luxury living and Park City properties, look no further than Utah Luxury Real Estate Group. They know the Park City real estate market and will find you the most remarkable home in Park City.

July 8, 2019

Fourth of July Fun in Park City & the Wasatch Back


Summer is here and we are ready to celebrate! Fourth of July week is one of our favorite times of the year here in Park City, with an abundance of options for summertime fun. The Fourth of July Parade and fireworks shows are not to be missed! Just remember to allow for additional travel time throughout the holiday week, as town is always busy at this time of year. 

We hope to see you out enjoying all the revelry around town this week, and as usual please feel free to reach out if you need any inside info on any of the following events. In the meantime we wish you and yours a Happy Fourth of July!


Check out our recently updated list of things to do in Park City and the Wasatch Back for the Fourth of July week! There are a variety of family-friendly events from which to choose, so you can find something everyone will enjoy. 

PARK CITY RESORT'S JULY 3RD CELEBRATION
July 3   |  Canyons Village5:00 pm:  COMPLIMENTARY VILLAGE ACTIVITIES
Caricature artists, yard games, chalk art, and face painting. Enjoy our complimentary, family-friendly activities at the event that kicks off the 4th of July festivities.

5:00 pm:  LIVE MUSIC BY DJ VELVET 
Get the party started with energizing beats and tunes dropped by DJ Velvet.

7:30 pm:  LIVE MUSIC BY THE NUMBER ONES
Covering number one hits from the 1950's to now, this soulful, fun-loving, energetic band is here to get you on your feet! Utah's favorite party band, The Number Ones, will be taking the Canyons Village Stage, creating unique renditions of classic number one hits like you've never heard before. Under the lead of David Halliday, one of the greatest saxophonists in the country, this group will have you dancing and singing all night long. Grab your friends and family and join us at the Independence Day kick-off party you won't want to miss!

DUSK:  3RD OF JULY FIREWORKS

More information here.

PARK CITY'S CELEBRATION
July 4  |  Assorted Venues in Park City7:00 am:  PANCAKE BREAKFAST
Pancake Breakfast in City Park8:00 am:  COLE SPORT 5K MOUNTAIN FUN RUN
Participants should pre-register at www.colesport.com.11:00 am:  4th OF JULY PARADE
Famous 4th of July Parade with over 70 floats celebrating Park City’s history.12:00 pm – 4:30 pm:  CELEBRATION IN CITY PARK
Food, live music, beer garden, games and children’s activities in City Park.

3:00 pm - Dusk:  MORE FUN AT PARK CITY RESORT
Mountain BBQ, Music, and family friendly activities at Park City ResortDusk:  FIREWORKS AT PARK CITY RESORT
Finally, fireworks are set to go off at Park City Mountain Resort's Mountain Village!MIDWAY'S "SMALL TOWN FOURTH"
July 4  |  Midway Town Hall

7:00 am: FLAG RAISING CEREMONY
At the Midway Town Square, Speaker Lloyd Newell and Honored citizens Jack and Holly Zenger. Swiss Miss Royalty, Swiss Chorus, and Swiss Bells. 

8:00 - 10:00 am: PANCAKE BREAKFAST
At the Town Square. Breakfast will be $6 per plate. 10:00 pm: FIREWORKS SHOW
Begins on July 4th at approximately 10:00 pm from Memorial Hill, and can be seen clearly from Hamlet Park, Town Square, and various places throughout Midway. More info can be found here.HEBER CITY'S CELEBRATION
July 4  |  City Park in Heber on Main St12:00 - 1:00pm:  FREE LUNCH!
Hot Dogs, Chips and a Drink (while supplies last!)1:00 pm:  FLAG CEREMONY 
With hands-on public safety exhibits by the Heber City police and Wasatch County Fire Dept. 

1:00 - 5:00 pm: DUNK TANK

2:00 pm:  OLD FASHIONED GAMES

Featuring three-legged races, gunny sack races, and egg toss.

3:00 pm:  WATERMELON & PIE EATING CONTESTS

3:15 pm:  LIVE MUSIC INTRODUCING HEBER'S OWN ROCK BAND SUMMERFROST

4:00 pm:  OLD FASHIONED SHOOTOUT PERFORMANCE

5:00 pm: SPECIAL ENTERTAINMENT

6:00 pm: LIVE MUSIC BY HARRY LEE & THE BACK ALLEY BLUES BAND

DEJORIA CENTER 4TH OF JULY EVENT
July 4  |  Dejoria Center  |  KamasAn amazing celebration with free music, food and friends. The festival will feature local food and drink, activities for kids, live music, local crafts, and more. Music lineup includes:Surf's Up Beach Boys cover band: noon - 1:15pmAfter Party 80's Hits cover band: 1:45-3:00pm Arms of America U2 cover band: 3:30-5:00pm. For more info please click here.

84th ANNUAL OAKLEY RODEO 
July 3-6  |  Nightly at 8 pmThe Annual Oakley Rodeo is a 4-day Professional Rodeo Cowboy Association sanctioned event. Featuring bucking broncs, raring bulls, cowboys, cowgirls and rodeo queens all in attendance to make this a true Western-rooted celebration. Yee Haw! Get tickets early as they will sell out.

WASATCH PLEIN AIR PARADISE 
June 22 - July 4  |  MidwayMidway is proud to be the home of Wasatch Plein Air Paradise, Utah’s largest annual fine art painting competition and sale. Now in its 14th year, over 100 artists from Utah and surrounding areas will converge in Midway to paint ‘en Plein Air’, or in the open air of Wasatch County. This event will culminate with a live auction at 11:00 am on July 4th.  More info.

PARK SILLY SUNDAY MARKET 
10 am - 5 pm| June 30, July 7 and Sundays thru Fall
Main Street Park City


The Park Silly Sunday Market is an eco-friendly, open-air market and street festival. Don't miss the infamous Bloody Mary bar. More info.

MOUNTAIN VALLEY PHOTOGRAPHERS
Midway Community Center 
July 3rd from 10am- 7pm,
July 4th from 9am-3pm


See the creative work of local photographers Don Gardiner, Alan Day, Brent Haddock, Quin Calder, Mary Waterman and Brian Murphy. They will display images that capture the beauty and majesty of the Wasatch Back and other Utah locations. We are proud supporters of their work at Keller Williams - you'll see their images on the walls of our offices in Park City and Heber Valley, as well as in many of our publications.

OPEN HOUSE EVENT hosted by Keller Williams
July 6th  |  1pm - 5pm  |  Park City & Wasatch Back
  Whether you want to visit just one or see them all, don't miss out on the chance to visit some of the best new listings that Keller Williams has to offer. Look for more information in this weekend's edition of the Park Record, or call us for a list.

Various Venues in Park City, Heber Valley & Beyond

DEER VALLEY MUSIC FESTIVAL - More info here.
July 5 - Patriotic Celebration with Broadway's Hugh Panaro
July 6 - Bravo Broadway! Life is a Cabaret

CANYONS VILLAGE CONCERT SERIES - More info here.
July 6 - New Orleans Suspects

PARK SILLY SUNDAY MARKET - More info here.
June 30 - Silver Strike & Eric Heideman and the Blues Project
July 7 - Dr. Bob & Sundog Sky

SUNDANCE SUMMER CONCERTS - More info here.
July 7 - Triggers & Slips

HOMESTEAD RESORT / MIDWAY - More info here.
June 29 - Lyndy Butler & Cherie Call
July 6 - Drew and Lacey 
 

UTAH OLYMPIC PARK
Park City

A family activity unique to Park City is a visit to the Utah Olympic Park. Summers at the Park are action-packed with an incredible array of family-friendly activities and learning opportunities. More info. Summer Tubing  |  Bobsled  |  Alpine Slide  |  Zipline  |  Drop Tower  |  Adventures Courses

PARK CITY RESORT 
Park City Resort Base & Canyons Village

For many visitors, the cool mountain temperatures and lack of crowds make summer in Park City the best season to visit. If your family loves the outdoors, head to Park City Resort for its plethora of family-friendly activities that you and your kids will love. More info.Kids' Tubing  |  Mini Golf  |  Alpine Slide & Coaster  |  Climbing Wall  |  Challenge Courses

FLYING ACES ALL STAR AERIAL SHOW 
Saturdays & Sundays 1 pm  |  Utah Olympic Park 

See Olympians and National Team skiers and snowboarders perform acrobatic feats as they soar up to 60' in the air. More info.

AQUA X ZONE
Jordanelle State Park  |   Heber City

AQUA x ZONE is a thrilling water park for young and old alike. Come climb, jump, slide and swim along the inflatable obstacles that float atop the reservoir. Kids must be 6 years old and 48" tall. You are invited to run, jump, swim and play at the AQUA x ZONE...the fun starts here! More info.

KITEBOARDING SCHOOL 
Unita Kiting 

Learn to kiteboard! Uinta Kiting offers kiteboarding lessons on the Deer Creek Reservoir in the beautiful Heber Valley. Uinta Kiting's primary goal is to provide safe and highly personalized lessons to their clients. They offer one-on-one lessons to beginner, intermediate, and advanced students. More info.

Posted in New Developments
March 20, 2019

New Developments in Park City UT

 
 
Demand for new properties is always strong. There's just something compelling about new construction, whether it's your ability to select your own finishes or just knowing you'll have the chance to start new memories. Luckily, we have a good variety of options, types and price ranges in Park City and the Wasatch Back areas. Let me know if any of the following pique your interest.
 
 
Mixed-Use Building  |  Upper Main Street  |  Private Parking
2 - 3 beds  |  2 - 3 baths  | 1,400 - 3,620 sf  |  Priced from $1,650,000 - $3,050,000 
 
 
Ski-In/Ski-Out Lots on Kings Crown Ski Run  |  7 "Crown" Homes  |  Condos Now Available
Lots Start at $855,000  |  Townhomes from $3,666,000  |  Condominiums from $899,000
 
 
Empire Residences  |  Mountain Modern Design with Dramatic Vista Views  |  Ski-In/Ski-Out 
3 - 4- 5 beds   |  2,270 - 2,580 sf  |  Priced from $2,870,000
 
40 Residences  |  Designed by World Renowned Architect Tom Kundig  |  Affiliated with Goldener Hirsch Inn  |  Contemporary Design  |  Silver Lake Village
Studio - 4 beds  |  1 - 5 baths  |  583 - 3,270 sf  |  Priced from $795,000 - $3,450,000
 
 
Luxury Ski & Golf Villas |  Attached Townhomes  |  Short Walk/Private Shuttle to Frostwood Gondola
3 - 4 beds  |  3 - 4 baths  |  1,847 - 2,271 sf  |  Priced from $1,197,000 
 
Mountain Contemporary  |  Walk to Frostwood Gondola and Canyons Golf Course
4 beds  |  3 - 4 baths  |  2,024 - 2,623 sf  |  Starting at $1,195,000
 
Luxury Townhomes in the Lower Canyons Village
3 - 4 beds  |  3 - 4 baths  |  1,878 - 3,588 sf  |  Priced from $1,397,000
 
True Ski-In/Ski-Out Mountain Modern  |  Detached Residences, Attached Townhomes & Penthouses  |  Three Building Tiers
3 - 5 beds  |  4 - 5.5 baths  |  2,000 - 3,220 sf  |  Priced from $1,750,000
 
Full Hotel Services  |  Village South  |  Mountain Contemporary  |  Are Your Dogs Considered Family?
2 - 3 beds  |  3 - 4 baths  |  1,670 - 2,225 sf  |  Priced from $879,900
 
Ski/Golf Townhomes  |  Frostwood Gondola Area  |  Mountain Contemporary 
2 - 5 beds  |  1,515 - 2,515 sf  |  Priced from $925,000 - $1,950,000  |  Prefer Salt Water Swimming?
 
The Residences at Blackstone | Steps from Cabriolet in Canyons Base Village
2-3 beds  |  2 - 3 baths  |  1,188 - 1,551 sf  |  Condos Priced from $725,000 
 
Ski-in, Ski-Out at Canyons Village  |  6 Story Building  |  Contemporary Modern 
3 - 4 beds  |  Approx 2,146 - 3,173 sf  |  Underground Parking  |  Priced from $2,395,000 
 
A Montage Managed Property  |  Fully Furnished 
Studio - 4 beds  |  Priced from $425,000 to $3,600,000 
 
Contemporary Finishes  |  4 – 5 Bedroom Townhomes  |  2-Car Garages
Please Call for Pricing.
 
Up the Cool Factor & Dial Down the Cost  |  In the Heart of Canyons Village 
Innovative Design  |  144 "Pads"  |  Studios Starting at $324,000  |  Full Ownership  |  Fully Furnished
 
120 Room Luxury Condo-Hotel at Canyons Village |  Direct Ski Access to Frostwood Gondola
Studio & 1BR Units |  Starting at $350,000  
 
 
Single Level Living  |  Phenomenal Jordanelle & Deer Valley Views  |  Ice Skating
Nightly Rental Options | 2 beds | 2 baths | 1,277 sf | Underground Parking | Priced from $380,000-$600,000
 
Townhomes & Condominiums  |  Minutes to the Slopes  |  Amazing Views 
2 - 4 beds  |  2- 4  baths  |  1,149 -2,735 sf  |  Priced from $367,500
 
Townhomes  |  Minutes to Jordanelle Reservoir  |  Amazing Views 
3 - 4 beds  |  3 - 4 baths  |  2,481 - 2,510  sf  |  2 car garages | Starting in Upper $600,000's
 
132 Homesites with Jordanelle Views  |  Minutes to Slopes and Jordanelle
Golf Academy & Trail Network  |  
Priced from $220,000
 
Duplex Townhomes in Hideout  |  Jordanelle and Mayflower Views 
Three Floor Plan Options  |  Built by Holmes Homes  |  Priced from $755,000
 
Townhomes & Condominium Residences  |  Deer Valley Views |  Mountain Contemporary 
3  -  4  beds  |  3 - 4  baths  |  Priced from $525,000 - $875,0000
 
Estate Homesites  |  Overlooking Jordanelle Reservoir  |  Views of Surrounding Ski Areas  
103 Homesites Spread over 400 Acres  |  Priced from $445,000
 
Single Family Homes and Lots  |  Master Planned Community  |  10 Minutes from Park City 
2,000  3,500 sf homes |  Spectacular Lake and Mountain Views  |  Homes Priced from $909,0000  
 
Townhomes and Duplexes  |  Three Home Styles with Numerous Floor Plans and Upgrades
Many Size Options  |  Priced from $500,000's
 
 
Salt City Construction  |  Numerous Home Styles & Plans  |  Mt.Timpanogos Views
3 - 5 bedroom Homes  |  Priced from $490,000
 
Single Family Homes  |  5 Floor Plans  |  Magnificent Views & Open Space  |  Midway
2 - 4 Beds  |   3 - 4 Baths  |  1,905-3,535 sf  |  Priced from high $500,000's
 
As you can see, there are a wide variety of new communities from which to choose if "new" is a must.  The gated golf communities of Promontory, Tuhaye, Victory Ranch and Red Ledges also offer a wide array of options for new construction as well that might warrant your consideration. Please reach out to discuss current opportunities and what options might work for your needs. 
 
 

Posted in New Developments
Feb. 5, 2018

Market Pulse 4th Quarter 2017


 

 

HEALTHY MARKET CONTINUES

Healthy, Stable, and Growing at Sustainable Rates

The single-family market transactions and median sales price grew at 5% and 14% respectively over the past year. 84% of these sales occurred outside the Park City Limits as primary home buyers’ demand for the Wasatch Back lifestyle increased. The condominium market transactions and median sales price grew at 4% and 6% respectively from 2016 to 2017. Condominium sales grew slightly faster inside Park City Limits than in other areas in Summit and Wasatch Counties.

Leadership from the Park City Board of REALTORS® commented, “These growth rates are highly sustainable. We believe the real estate market in Summit and Wasatch Counties is balanced between buyers and sellers. That being said, the market could always use more inventory.”
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MARKET SNAPSHOT 
12 Month Rolling: January 2016 - December 2017
($ has been rounded to nearest 500 or 1,000)

 
 
 
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MARKET ABSORPTION RELATIVE TO MEDIAN PRICING

When bringing your property to market, it is important to balance your pricing and timeline objectives. The charts below analyze the time on market against the median price within category type, and clearly demonstrate that those properties priced at or below the median are absorbed at a significantly higher pace.

Areas 1-9 Include: Old Town, Thaynes Canyon, Lower Deer Valley Resort, Deer Crest, Upper Deer Valley Resort, Empire Pass, Aerie, Prospector, and Park Meadows.
 
 
 
Areas 10-23 Include: The Canyons, Sun Peak/Bear Hollow, Silver Springs, Old Ranch Road, Kimball, Pinebrook, Summit Park, Jeremy Ranch, Glenwild/Silver Creek, Trailside Park, Promontory, Quinn's Junction, and Jordanelle.
 
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NEIGHBORHOOD STATISTICS

 

 Park City Limits sales prices increased by 13% and median sales price increased by 12%.

  • Old Town sales increased 30% while median sales price increased only 2%.
  • Prospector sales increased 30% and median sales price increased 7%.
  • Park Meadows sales were flat however median sales price increased 13%.
Snyderville Basin sales increased by 7% and median sales price increased by 6%.
  • Sales in The Canyons were up 13%. Median sales price decreased 31%.
  • Sales in the Silver Springs area were flat and median sales price increased 6%.
  • Pinebrook sales were also flat but median sales price increased 7%.
  • Jeremy Ranch sales increased a healthy 25% and median sales price increased 5%.
  • Promontory sales increased 20% while median sales price decreased 14%.
  • Jordanelle sales increased 66% and median sales price increased 9%
Heber Valley sales decreased slightly however the median sales price increased by 15%.

Kamas Valley overall sales increased 4% and the median sales price increased 1%.
  • Wanship, Hoytsville, Coalville, Echo, and Henefer sales increased 13% and median sales price increased 9%.
  • Kamas and Marion sales were up significantly, and median sales price increased 3%.
  • Oakley and Weber Canyon sales and median sales price decreased 13% and 2% respectively.

Sales inside Park City Limits increased 14% and the median sales price increased 6%. 

  • Old Town sales led the way with a 19% increase in volume; median sales price was flat.
  • Lower Deer Valley sales increased 18% and the median sales price was up slightly.
  • Prospector sales and median price were essentially unchanged from 2016 to 2017.
Snyderville Basin sales decreased 4% and the median sales price increased 6%.
  • Kimball sales increased 3% and the median sales price sales increased 33%.
  • The Canyons sales decreased 6% and the median sales price dipped 10%.
  • Pinebrook sales decreased 17% but the median sales price increased 10%.
 Jordanelle sales increased 1% and the median sales price increased 1%.

Heber Valley sales and median sales price were flat to last year.

 

Within the Park City Limits, 24 lots closed, with a 19% increase in the median price from $690,000 to $820,000. In the Snyderville Basin, transactions were up slightly year over year; a total of 154 lots closed with a 5% decrease in the median price from $460,000 to $437,500. In the Jordanelle area there were a total of 104 lot sales. The median there rose 14% from $390,000 to $445,500.
 

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WASATCH BACK INVENTORY 
LOWEST EVER
While the entire nation is experiencing record low inventory levels, the Wasatch Back market has seen an even more dramatic decrease. This is an ideal time to consider how your property's utility fits your current lifestyle. Is it time to sell in order to move on to a smaller or larger option, or maybe just time to cash out? 
 
 
 
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Four-Quarter Price Change by State
What's the Health of Your Primary Market?
Purchase-Only Index (Seasonally Adjusted): 2016 Q3 - 2017 Q3.
 
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LOOKING FORWARD

At the 40,000-foot level, the Park City real estate market is healthy and steady. However, each micro-market needs to be understood apart from the overall market. Simply reviewing the numbers is not sufficient to understand the big picture. Individual markets can be influenced by a number of factors including unique outlier sales that can heavily influence the statistics. In addition, the amenities, property condition, floorplan, location, and new construction can impact the numbers. The only sure way to fully understand the local real estate market is to contact us for an in-depth analysis.
 
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UP NEXT

Get Ready for Spring Time Fun Along the Wasatch Back! 
Get Ready for Spring Time Fun Along the Wasatch Back! Look for our Spring Events Newsletter coming soon.

 

Posted in Market Updates
July 31, 2017

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

 

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates