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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!
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A jewel nestled in the mountain, a small community that is also a ski town, and a place where quality public schools are located equal an awesome quality of life. Why would you move to Park City, Utah? There are ten great reasons listed by those who live there now and those who are looking for a home in Park City, Utah.
1. When you think of Park City, you think of some of the best ski resorts in the world. The town lies at 7,000 feet above sea level, and a year-round population of around 25,000 invites you to Park City Mountain Resort and Deer Valley Resort. Deer Valley was voted the #1 ski resort in North Amerian by SKI Magazine and greets skiers with expertly groomed mountains and views that will cause you to catch your breath.
2. If you get tired of Park City’s Ski resorts, several topnotch ski resorts are within an hour’s drive. Try out Alta, Brighton, Snowbasin, Snowbird, Solitude, and Powder Mountain. That’s only a few. You can also go Powderbird Helicopter Skiing or catch a tram right from the lobby in a hotel.
3. The public school system in Park City has been voted the best in the state. Park City High ranks in the top 2% nationally. Park City High lets out at 12:30 p on Fridays so students can go skiing or participate in other sports or even go to work at the ski resorts. Park City features a charter high school, Winter Sports School, that functions on a reverse school schedule to adapt to winter travel and competition. Sign up for Park City Day School with classes from K-8th grade that is one of the premier private schools along the Wasatch Front.
4. If you are looking for a home in Park City, Utah, think of convenience. Salt Lake International Airport is a 45-minute drive from town where you can catch a flight to just about anywhere in the world. The Utah Department of Transportation has been widening highways and resurfacing roads to help with any traffic congestion.
5. Business opportunities abound in Park City. Park City is part of the Salt Lake/Provo/Park City triangle, also called Silicon Slopes. Utah is an emerging techno-powerhouse. There are three major universities, the University of Utah, BYU, and Utah Valley University, if you want to advance your education. Adobe, Microsoft, Bajo, Qualtrics, and Domo all have headquarters located just down the road from Park City.
6. Keep looking for a home in Park City, Utah, because the summers are gorgeous. High temperatures are about 80⁰F, and the humidity is low. June is a gorgeous month with aspen trees and wildflowers exploding into bloom. The mountainous landscape is a tapestry of rich greens that hold epic surprises. Drive for 25 minutes to the Jordanelle Reservoir that encourages boating, paddle boarding, fishing, relaxing, or even wake surfing.
7. Want to look for a home in Park City, Utah, because you love golf? There are seven major golf courses around the Park City area. You won’t be bored; there are plenty of golfers to help challenge your skills.
8. Mountain Biking is part of the summer activities of this unique area. There is a Gold Level Ride Center crowned by the International Mountain Bike Association (IMBA.) There are many miles of trails that are fantastic, and the trails function as a network with signage and trail connections. Everything is designed to create a model mountain biking area.
9. The cost of living is great in Park City, Utah. Looking for a home in Park City, Utah, is great if you come from high tax states like California or New York. You can reduce living costs substantially, and the tax laws in Utah are fair. Utah ranks in the middle of the scale for state income taxes with a maximum rate of 5%. The Property tax rate in Summit County, where Park City lies, is only 0.463%. You can get three-to-four times as much house for your money compared to LA’s West Side. Property values, if you are looking for a house in Park City, Utah, are a dream.
10. Come to Utah ad take part in a state full of natural riches. Five premier National Parks are here: Zion, Bryce Canyon, Arches, Canyonlands, and Capitol Reef. All are within a few hours of driving time. Mountain biking and RV recreation are also in Moab, Utah, a five-hour drive from Park City. If you want more adventure, try rafting on the Colorado River out of Moab.
Are you looking for a home in Park City, Utah? Here you will find a place that is all about community. There is an immediate bond with other newbies in Park City. Park City has a welcome-to-Park City party in the spring and summer, and surrounding neighbors are invited. Try out Beau Collective a premier workout studio/social club and get to know a community that has a joy for life that includes Lycra, Gore-Tex, mountain biking, skiing and a sense of wonder.
If you are looking for a home in Park City, Utah, the best realtor agency you can contact is Utah Luxury Group. They have the most experienced and knowledgeable realtors in the area. Give them a call, and they will help you find the perfect home in Park City, Utah.
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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?