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!

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

Curious About Local Real Estate?

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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