The Park City real estate market place has been showing recent signs of increased activity. Most REALTORS® in Park City and Deer Valley will tell you they feel that things are getting better.

            Sales figures for the Park City Board of Realtors may or may not support this feeling. The month of July had 69 closings within Park City and approximately the same number outside the Park City zip code (Kamas and Heber Valleys). Park City area real estate sales totaled nearly $70M for the month while sales in areas outside of Park City (but through the PCBR) totaled about $12.5M.  The sales figures represent an increase of approximately 50% over the same time last year.

            This quick glance will no doubt be the sound bite for the Board of Realtors. Upon closer inspection, the numbers remain strong, but maybe not quite as robust as they seem. Closings of recently completed construction account for $20M of the total -one closing of a newly built home in the Paintbrush subdivision of Empire Pass at Deer Valley accounted for over $11M of the total.  Closings at the newly completed Dakota Mountain Lodge at The Canyons Resort accounted for over $9M and should be even larger in the month of August. Without the new construction closings (most of which were put under contract in 2007), sales figures for July are not as strong. Yet the numbers are still larger that a year ago.

            Other positive market signals for Park City and Deer Valley are that sales have been dispersed through all portions of the market. Not everything that has sold has been distressed and lower priced home inventory. At least 10 of the real estate sales completed in July were for over $1M and were not distressed or new constructions including a $5M home in the Bald Eagle subdivision of Deer Valley.

            Outside Park City sales volume was up by 30% from last year with total dollar volume slightly down. This illustrates that there may be stronger deals in the outskirts of Park City. Outlying areas have definitely seen larger price variations.

            Overall, the Park City real estate market has shown an uptick for the last month, and pending sales for the last two weeks total over 50 potential sales. Buyers and Sellers in Park City and Deer Valley are finding common ground and making deals. Each neighborhood and subdivision is different as are the pressures on individual Buyers and Sellers to better understand if it is the right time for you to buy or sell Park City & Deer Valley real estate, contact your local YouInParkCity.com realty professional.

.

            The Red Ledges golf community in Heber City put out the call to local Park City area REALTORS® to come out  and play 9 holes. Rob and I gladly accepted to represent the YouInparkCity.com group from Keller Williams Park City Mountain Resort Real Estate.

            Red Ledges is less than 2 miles east of Main St. Heber City, Utah down Center St. (aka Lake Creek Rd), lays the Red Ledges community development. About 20 minutes from Park City, UT. Red Ledges’ new Jack Nicklaus Signature golf course opened for play on the 3^rd of July, 2009. The private course is the newest addition to the Park City area golf courses now numbering over 15.

            We were greeted at the golf course pro-shop, clubhouse and restaurant (a comfortable facility that will be used until the main clubhouse is built at a future date) and sent to the practice range for a few warm-up swings. The practice range has well laid out greens and bunkers and a beautiful backdrop. There is a newly constructed 5400 Sq. ft. home for sale overlooking the practice facility from the east with an asking price of $3.5M.

            We started on the par 3 9^th hole which plays just over 200 yards from the “members’ tees” (blue). The pin was hidden by a large juniper which we aimed over from the elevated tee box. The hole is very picturesque, nestled up against the namesake red ledges that will be home to the future clubhouse. The red dirt and rocky out croppings surrounded by sage, juniper and natural vegetation make for a beautiful golf hole (a recurring theme throughout the course).

            The course proved to be a classic risk/reward style course which forces you to know your game and distances (“can I fly that bunker in the center of the fairway 260 yards uphill?”).  The course pushes you to “think your way around”.  There are many elevation changes within the course and flat lies were few and far between. The greens run fast but true with many undulations. Rob walked away from it saying “I love it”. It is a fair test and the setting is fantastic. I think it will prove to be a course that you can play over and over without becoming bored.

            We finished the day with frosty beverages and hors devours on the deck with views of the Mt. Timpanogos.  We were told that the back nine (finished and playable) has even better views as it sits higher up the hill than the front which we had played (hopefully we’ll see it next time).

            There is a nine hole “short course” also planned for the Red Ledges community, but next to come will be the pool and gym facilities in the village center of the area. There are over 1400 lots that will ultimately be sold within Red Ledges (this will likely take10-15 years), but only 400 golf memberships. This gives some good insight to the fact that this community is not just about the golf. So while Red Ledges has made the golf portion of the development the first amenity to the community, golf is not necessarily the main focus of the overall master plan. Like other Park City real estate area private community and club style developments, Red Ledges plans a community style social atmosphere based around pool and gym facilities, equestrian access, future tennis club facilities, cross country skiing, snowmobiling, alpine skiing (at Deer Valley), and planned social events.