May 2021 Park City Real Estate Market Report
Park City Utah Single Family Homes Market Update
Park City Utah Condos/Townhomes Market Update
Information on the Park City Real Estate Market
There are currently 68 blog entries related to this category.
Call Julie Olsen Local Park City Utah Realtor at 435-513-2848 if you are interested in buying or selling a home, condo or townhome in the Park City or Deer Valley area.
October in Park City, what a difference a couple weeks makes!
I've been meaning to write an update in market conditions for some time, but the answer today is the same as it's been for a few years. Prices continue to steadily rise, inventory is still low. Most values have exceeding their pre-recession highs, but some have not with differing conditions in different developments. Modern finishes continue to command a premium, and there continues to be a considerable amount of new construction.
Construction continues in Upper Deer Valley and Empire Pass with Goldener Hirsch Residences coming along and Empire Residences has started committing to purchase contracts. One Empire Pass is now complete and is spectacular with very few units left. At…
Many of our clients are interested in buying Park City real estate as an investment. These properties fall into two main categories: long term tenants and nightly (vacation) rentals. For nightly rentals, my rule of thumb is that if you pay cash and don’t use it yourself, after expenses a typical return on investment in Park City is about 2%. I’ve found this figure to be remarkably consistent across a broad range of properties, from fractional ownership at the Grand Summit in Canyons Village to luxury condos in Empire Pass at Deer Valley. With limited owner use, this is often enough to defray your carrying costs. You may do a bit better with a full-time rental property, but of course you wouldn’t be able to use it yourself.
As an investment…
Recently local lender Rick Klein at Wells Fargo calculated from data he obtained from the Park City Board of Realtors the absorption rates for the various Park City Utah neighborhoods. It turned out for both condos and single family homes that the fastest selling area for the First Quarter of 2014 is the Silver Springs neighborhood. The absorption rate of condos for sale is 1.5 months and the absorption rate for homes for sale is 1.03 months.
This is a popular neighborhood for families who live here full time with young children. This area is flat with lots of trails and parks throughout the neighborhood that are kid friendly. It is also a great central location close to shopping in the Kimball Junction…
The Highest Sold Price for Homes that sold in the Park Meadows area of Park City in 2011 was $3,950,000, for 2012 was $3,000,000 and for 2013 was $8,000,000. The Lowest Sold Price for 2011 was $393,000, for 2012 was $1,229,616 and for 2013 was $1,669,023. The range in home prices can be fairly large due to size, quality, age and location of the homes for sale in the Park Meadows area.
The Highest Sold Price for Condo / Townhomes in the Park Meadows area in 2011 was $1,675,000, for 2012 was $1,475,000 and for 2013 was $1,800,000. The Lowest Sold Price for 2011 was $$250,000, for 2012 was $621,707 and for 2013 was $712,143.
The Park Meadows neighborhood is a very popular in town…
Below you will find single family home sales history for areas at Deer Valley Resort between 2011 to 2013. The data includes number of sold homes, median sold prices, median sold price per square foot, average days on the market and the average percent of sold price to list price. There is the Lower Deer Valley Area, Upper Deer Valley Area, Deer Crest Area and Empire Pass Area. Each location offers a different kind of setting depending on what you are looking for so I seperated the data for each unique area located in the Deer Valley Area. You will see in 2011 no homes sold in the Empire Pass area. There are fewer homes in general in this area which is why there tend to be fewer sales. As March…
Below you will find the sales history from 2011 to 2013 for sold condos at the luxury ski in ski out condo hotel St.Regis Deer Valley. As of March 15, 2014, there have been 2 condos that have sold at the St.Regis with a median sold price of $2,510,000 and median sold price per square foot of $1,215. Pricing for condos for sale at the St.Regis Deer Valley will vary based on the condo's location in the building and the views from the condo.
Visit St Regis Deer Valley Condos for sale to search all currently listed condos for sale at the luxury ski in ski out St.Regis condo hotel at Deer Valley Resort.
Call Park City Realtor Julie Olsen at 435-513-2848 or email Julie@BestSkiProperty.com Finding Your Park…
Below you will find the sales history for 2011 to 2013 for sold condos at the Montage at Deer Valley Resort. The Montage Deer Valley is a luxury ski in ski out condo hotel with many wonderful amenities. I personally have enjoyed on many occassions their restaurant Apex. So far as of March 15 2014, three condos have closed for 2014. The median sold price for those sold so far this year has been $3,600,000 and the median sold price per square foot has been $1,377. As you can see in the Sales History table that the median sold price per square foot from 2011 to 2013 went up about 7.7%. Location in the building and views play a big part on the pricing of a condo at the Montage Deer Valley.
Visit Montage Deer…
This Deer Valley Real Estate Market Report combines data from Lower Deer Valley, Upper Deer Valley, Empire Pass and Deer Crest. The data is broken down to Single Family Homes and Condos which includes Median Sold Prices, Inventory and Days on the Market.
Click Here to Search all Deer Valley Homes and Condos currently listed for Sale
Call Local Park City Utah Realtor Julie Olsen at 435-513-2848 or email Julie@BestSkiProperty.com to help your search.