Park City Real Estate Trends

Check Out our Upcoming Property in Park City!

By Todd Anderson
Feb 05, 2016

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Looking for a resplendent home, just moments away from all Park City proper has to offer? Then check out the newest home for sale from You In Park City!

Offering all granite countertops, a natural gas fireplace, and wide open views at all levels of the home, this 3 floor, two building property off of Main Street is something that needs to be seen to be believed. Walk into the kitchen room/living area and be greeted by gorgeous stucco walls, upgraded lighting, and a roomy-but-cozy feel that you are sure to love. Here, large glass windows point out over emerald seas of pine, with snowy ski runs just over the horizon! You’ll also find easy access to the rest of the home, which includes a second floor, a basement, and a top floor – with exterior patios and seating on every level!

Continue your tour outside the home, where a rustic exterior and beautiful front lawn patio lie in wait. With cabin style paneling, and natural granite leading to a guest casita attached to the main portion of the home, it’s easy to see why this is one of our premium offerings! Add in rolling hills, blue skies, and a view that goes for miles, and you won’t ever want to leave!

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Contact us today for more information about our brand new property in Park City, Utah!

 

In the news at the 2016 Sundance Film Festival

By Todd Anderson
Jan 29, 2016

stockvault-50mm-camera-lense99050Every year for 10 days out of the month of January, a little movie party occurs in Park City, Utah - you might have heard about it.  The Sundance Film Festival, which this year is being held from January 21- January 31, and as always, is a huge success!  Sleep, of course, is not a factor if your goal is to fit in as many movies as you possibly can in the 10 days - and participate in the after parties too; remember, you can always sleep on the plane!

The Movies

All the movies are unique and deserving of awards.  Most parties involved in the making of said movies really feel just being invited to Sundance is an honor, but at least one movie might even be too unique for the average movie goers!  The Swiss Army Man is basically a movie about dead bodies and flatulence.  Starring Daniel Radcliffe of Harry Potter fame and Paul Dano, crowds have been lining up hours in advance to get in, and once inside, they find a movie that is about a lost man who makes friends with the gas passing remains of Daniel Radcliffe’s character, and the flatulence seems to be too much and they rush to get out!  Something stinks in Sundance, and although the movie is quite good, it may never be more than an extended fart joke!

The Stars

Nepotism is big at Sundance, and the stars of Yoga Hosers might sound a tad familiar; Lily-Rose Depp, daughter of co-star Johnny Depp, and Harley Quinn Smith, daughter of director Kevin Smith (you may recognize him as Silent Bob from the Clerks movies!) are happily making their Sundance debut!  Kate Beckinsale and Chloe Sevigny classed up the festival making an appearance to speak for their period piece, Love & Friendship, based on the Jane Austen novella, Lady Susan. And Elijah Wood stepped out of his acting shoes and directing cape to DJ for his movie “The Greasy Strangler” pre-party!

The Awards

Well, at least one of the awards, The Amazon Studios Sundance Institute award (and the grant money that goes along with the award!) goes to “Morris from America” producers Sara Murphy and Adele Romanski and also to Julie Goldman, executive producer of “Weiner,” a documentary.  This award recognizes boldness and creativity amongst independent producers.  More awards will be forthcoming with the major ones being announced on January 30th.

The Parties

Sundance wouldn’t be Sundance without all the parties that accompany it, and this year is no exception - starting with the Delta Festival Shuttle at LAX airport.  180 of Hollywood’s most beautiful people will get a chance to board a Delta flight with a Sundance theme and enjoy brunch and cocktails, in-flight entertainment (a Sundance movie, perhaps?) and a free gift; even the rich and famous appreciate free stuff!  Premiere Parties for nominated movies include “The Hollars” directed by John Krasinski, and “31”, Rob and Sheri Moon Zombie’s latest horror film, are not to be missed, and cocktail parties, brunches, and after parties - the list is endless and will ensure fuzzy memories of the week’s events if done right!

Park City Real Estate Sales 2015 Review

By Todd Anderson
Jan 26, 2016

Park City Real Estate sales for 2015 continued to show strength and appreciation. The Park City Real Estate Market has shown consistent growth in each of the last eight years going back to 2008. The numbers show steady growth in terms of both unit volume and dollar volume (over $1.85 Billion).

Park City area real estate sales volume

Inventory within the Greater Park city area (Park City Proper, Snyderville, and the Jordanelle area) remains tight with approximately 750 homes and condominiums available. This number translates to an absorption rate of just under 7 months at current sales rates. Note that while this number is higher than national averages, for the Park City real estate market the average absorption rate since 2010 has been 11 months. So we are still in a Sellers’ market in Park City.

New and upgraded homes and condominiums demand a premium and move quickly from active for sale status to pending contracts. Statistics for 2015 indicate that approximately 25% of the sold homes and condos were active for sale listings for less than 2 weeks. Acting quickly or even searching out properties that are not actively listed can make the difference between owning a property and missing out. Ask YouInParkCity.com about how we can help.

Price increases for single family homes have continued to outpace the condominium market. The median sales price of an “in-town” home for 2015 was over $1.5 Million while median prices in the Snyderville Basin and Jordanelle are quickly approaching the $1 Million mark. Price increases from 2014 to 2015 increased approximately 17%. The Park City real estate market for entry-level homes is ultra-competitive. Less than 5% of all home sales in the Greater Park City area for 2015 were for less than $500,000. At the time of this writing, there were zero homes available under $500,000 and less than 10 listed for sale at less than $600,000.

  • The Median Price of a Single Family Home in Greater Park City was $1,070,000 in 2015
Condominium sales in the Park City area increased 7% in 2015 as median prices rose about 15% to $449,000. The impact of new construction and inventory levels had a great impact in specific neighborhoods. The Old Town area saw sales fall by 35% while the Kimball Junction area had sales jump over 100% and median sales prices increase 60%.
  • The Median Price of a Condominium in the Greater Park City area was $449,900 in 2015
Real estate values, pricing and demand in Park City is very localized, sometimes even down to which building in a subdivision or floor and view corridor within a building. For accurate reliable information contact a real estate professional with the YouInparkCity.com group to discuss how these intricacies will play into your real estate sale or purchase in the Park City, UT area.

Data herein derived from PCMLS data. Information is deemed reliable, but not guaranteed.

How To Attend The Sundance Film Festival

By Todd Anderson
Jan 22, 2016

camera-lens-hero-goproIf you’ve never been to the Sundance Film Festival held in Park City, Utah every year, you’re missing out on a truly unique, entertaining experience. For 10 whole days, the Sundance Film Festival provides attendees with the chance not only to enjoy lots of amazing new talent and creative films, as well as popular local restaurants and bars, but also the opportunity to rub elbows with some of the Hollywood celebrities and film stars. Chances are you’ll have an unforgettable time no matter what, but with a little planning on where to go and what to see, your trip to Sundance Film Festival may the best adventure of your year.

Get Your Tickets Quick

Of course you can’t plan a trip to Park City during the Film Festival and not take part in watching one of the many films that have made the event famous. Lines can be long and feel even long with the Park City winter weather, so try to purchase tickets in advance. The most anticipated films will sell out fast, so don’t hesitate to either buy online as soon as possible or to purchase a festival pass so you can enjoy several films with less hassle.

To keep prices affordable during one of the most popular times to visit this beautiful area, look into booking accommodations that are a few miles away from the main attractions on busy Main Street. There are countless lodging options in Park City, most of which provide upscale accommodations and beautiful views with a cozy cabin feel.

Use The Shuttle

For traveling, ditch the car and make use of the local shuttle. There are free shuttles that run all day long that can take you from a rented condo and back without much trouble. You don’t even need to rent a car to enjoy Park City and the Film Festival with how convenient the shuttle system is for those in attendance. Besides, local parking can be pretty pricey.

Live It Up In Park City

Even if you don’t score tickets to many of the films, there is still much fun to be had during Sundance. Hit up the nearby slopes that have helped to put Park City on the map as one of the top destinations in the world for skiing and snowboarding. Hang out at the local pubs and restaurants in hopes of catching a glimpse of, or even getting a picture of, one of your favorite celebrities. Spend all night dancing in one of the local clubs that are sure to attract an A-list crowd during Festival season.

Things to Do on Presidents’ Day in Park City

By Todd Anderson
Jan 15, 2016

freedom-united-states-of-america-flag-americaThe Presidents’ Day holiday is one of the most popular weekends in Park City.  Many visitors flock to the area to enjoy this long weekend, and Park City doesn’t disappoint with the many events and activities.  Don’t miss a day on the slopes of our great mountains.  Both Park City and Deer Valley are great places to enjoy a day of skimming down the slopes before enjoy a great meal at one of the many area restaurants.  Here’s a look at some of the special events that will be happening during this exciting weekend:

San Francisco Gay Men’s Chorus

Eccles Center for Performing Arts

February 13

Tickets available at the Eccles Center, 1750 Kearns Blvd.

Since 1978, this touring group has brought harmony – and endearing playfulness – to the gay rights movement. Enjoy the musical stylings of this chorus, under the direction of Dr. Timothy Seelig, as they continue to keep the soundtrack of civil rights going strong.

The Association

Egyptian Theatre

Thursday, Friday and Saturday, Feb. 11-14

Come out and enjoy the sounds of The Association on the group’s 50th Anniversary Tour! Making history since 1965, this group has received seven Grammy nominations and has six gold and three platinum records. Enjoy favorite hits such as “Never My Love”, “Windy”, and “Cherish”.

2016 Winter Art Salon

Feb. 12-16

The Winter Art Salon is a four-day event showcasing highly recognized artists and other vendors. You will have the opportunity to purchase art and luxury goods, as well as participate in seminars and discussions with artists and experts. All of the events will take place on the slopes of Deer Valley and all proceeds will benefit the Kimball Art Center.

Combine Valentine’s and Presidents’ Day

This year, Valentine’s Day falls during the same weekend as Presidents’ Day. Take this opportunity to enjoy the romance of Park City.  This is the perfect time for a weekend getaway. You can enjoy a cozy bed and breakfast or mountaintop luxury retreat.

Go on a romantic sleigh ride. What’s more romantic than cuddling under a warm blanket while being taken across a winter wonderland? You can enjoy a sleigh ride with or without a delicious dinner.

Park City is home to plenty of romantic restaurant offerings. There are more than 100 restaurants in Park City, offering everything from high end dining to casual eateries. Just make sure that you make those reservations in advance!

Park City businesses say their goodbyes to 2015

By Todd Anderson
Jan 08, 2016

Buy a Park City Home or Condo Now2015 was not only a busy year for local businesses, but an expensive one as well.  Commercial rents went up, while tourism levels fell with the lower snowfall.  The Ski Patrol union nearly disappeared and the deadlines for businesses to implement the chip technology credit card terminals went into effect October 1st.

One bright spot was the announcement that Outdoor Retailer, a trade show for outdoor products, was staying in Salt Lake through 2018 - it’s contract was due to expire in 2016.  All in all, though, it appears most businesses will be welcoming 2016 with relief and open arms.  Read further for all the details - and Happy New Year!

  • Lower Snowfall causes a drop in tourism - Climate changes are not Park City’s friend, with a measly 205 inches of snow in 2015 - compared to 263 in 2014 and a high of 408 inches in 2010; as the amount of snowfall drops, so do the numbers of tourists visiting the state. Protect Our Winters (an environmental group) and Ski Utah (ski and snowboard promoters) are joining forces to get the word out on what we can do to help the snow stick.
  • Largest outdoor products trade show is staying - Outdoor Retailer’s contract with Salt Lake City was due to expire in 2016, but it has now been renewed for another 2 years. Losing the trade show would have created a financial deficit, so local retailers can breathe a sigh of relief.
  • Commercial rents continue to rise - Without rent control, local businesses will be feeling the pinch again. Since 2011, rents on Main Street have steadily increased from $40, to $47 to the current $58 - an $18 increase per month leading to fears that prospective business owners are being priced out of opening new establishments in the trendy Main Street area.  Commerce expert Steve Hooker isn’t worried about current business owners being forced to close doors, but doesn’t address prospective business owners worries.
  • Ski Patrol will still have union at combined resort of Canyons/Park City Mountain Resort - Canyons Professional Ski Patrol Association contract expired in October, and when Canyons Resort and Park City Mountain Resort joined forces becoming one grand resort, it was thought that maybe the union would cease to be - a concept Vail Resorts embraced. A vote in December, however, formed a new union after a 97-94 vote.
  • Chip technology credit card terminals deadline for installation was October 1 - And although some retailers failed to see the urgency, stating credit card fraud in Park City is extremely rare, most business owners were eager to comply. The added security of a chip-enabled terminal eases shoppers’ minds and allows them to shop without fear in a day when fraud is becoming more and more a way of life.

Remembering a Legend: Stein Eriksen

By Todd Anderson
Jan 04, 2016

pexels-photo (7)If you know much about Utah, chances are it’s about their skiing resorts or religious history, but the newest fact is the departure of ski legend, Stein Eriksen.

Eriksen is of Norwegian descent, coming from a legacy of skiers. His mother was the first president of the Oslo Women’s Ski Club and his father was a ski designer as well as a competitive cross-country skier. The acts of Eriksen were dubbed by Ski Magazine as making skiing a national obsession, thanks to his great performance in the Olympics where he took a gold medal in 1952 as well as three golds in the 1954 Alpine World Ski Championship. This man was so well loved that the king of Norway in 1997 knighted him for his merit.

A Cross National Hero

After his Olympic days, Eriksen moved to America and served as a ski instructor in Utah, for several schools. His latest contributions were at Deer Valley Resort, where it has been said the Eriksen was an integral part of the community. It’s described that the presence of Eriksen was fundamental in the Deer Valley and that he will be greatly missed.

In 20009, Eriksen said “to be an Olympic and world champion has been a trademark for me. But the appreciation that the American people have for champions has enhanced that value in a way that made it possible for me to enjoy life without too much effort”. He was a local legend that stimulated the ski community in Utah; many people knew Ericksen and loved to watch him.

Pro-level Character

As a person, Eriksen was humble even amidst all of his prestige. In the late days, Eriksen held a charisma not of ego, but a loving personality which drew others together. He has been credited after his many ski victories saying that a man is nothing without humility.

Eriksen leaves behind his wife Francoise and five children who although surely saddened, are keeping their best face forward in asking for donations to Erkisen’s organization. The Stein Eriksen Youth Sports Opportunity Endowment provides financial assistance to youths for winter sports, with the goal of stimulating an appreciation of winter sports and helping committed athletes.

A Legacy That Lives On We at You in Park City send our best wishes to Eriksen’s family and wish to continue his wishes and legacy through skiing. The slopes won’t be the same without him, but thanks to Eriksen, the slopes are better than they ever could have been.

Results of Recent USA Luge Competition in Park City

By Todd Anderson
Dec 18, 2015

views from 2983 Ridgetop Rd. Sundance, UTIt was just three weeks into the Viessman World Cup luge season, and on Dec. 13 in Park City, the United States team had its season record of 13 medals in its sights.

On this Saturday night in Park City, both Summer Britcher and Chris Mazdzer both took home the gold — with the Americans tally already up to 11 medals. The team garnered six medals last week in Lake Placid, New York.

Mazdzer, from Saranac Lake, N.Y., had strained his neck during a mid-week weight-lifting session. However, he overcame the pain and posted the fastest final training run at Olympic Park. He took this momentum to the competition and captured his second career singles gold medal.

Later that evening, Britcher and teammate Erin Hamlin replayed their Friday night efforts and took gold and silver in the BMW Sprint World Cup event.

Hamlin recently took medals in four consecutive starts, while Britchers received a bronze and two golds in her last three events. This was the third time this season that U.S. lugers placed first and second in a World Cup race.

Other U.S. lugers who competed included:

Men                                         Place

Tucker West                            9

Taylor Morris                       13

Aidan Kelly                            14

Women                                   Place

Raychel Germaine               8

Emily Sweeny                         9

In the luge doubles competition, Americans Matthew Mortensen and Jayson Terdiman brought a fifth place showing, while Justin Krewson and Andrew Sherk commanded a respectable 8th place, and Jake Hyrns and Anthony Espinoza slid into 14th place.

There are several upcoming luge events that will be happening in Park City, including

Dec. 19 – Holiday Season Open

Jan 9 – Ice Engineers Open

Jan 31 – NORAM Youth Races

The Utah Olympic Park places host to many other great sporting events during the winter including aerial competitions You can also come out and see bobsled and skeleton competitions.

And, if you want to experience the excitement of sliding down the track of the Park, check out the Winter Comet Bobsled ride. You will be propelled down the same track that Olympic athletes train and comet on. It’s a once in a lifetime experience full of thrills and adrenaline!

At YouInParkCity.com and KW Park City Keller Williams Real Estate, we enjoy all these types of great opportunities. If you want to experience these great events and attractions from your own Park City real estate, just give us a call!

Real Estate Prices on the Rise in 2015

By Todd Anderson
Dec 14, 2015

Buy a Park City Home or Condo Now2015 is rapidly coming to a close, and we are seeing real estate prices continuing to rise. In addition, the number of home sales is on the rise as well.

The Park City Board or Realtors recently released numbers that reflect a 12 percent increase in single family homes, condos, and vacant land sales through the first three quarters of 2015 in the greater Park City area. This reflects a 10 percent increase over the same time in 2014.

Board of Realtors president, Nancy Tallman, states that both figures show an upward trend in spite of a lack of inventory. This problem of a lower inventory has been plaguing the area’s real estate market since the recession. Tallman says that although the sales numbers are up from last year, because of the low inventory, “it’s probably constraining our sales.”

One interesting development highlighted by the recent numbers is the disparity in median sales prices between Park City proper and the Synderville Basin. Prices rose in Park City at approximately 7 percent, while the Basin saw prices spike 20 percent.

According to Tallman, large sales price spikes are generally not good for the market; however, she says the Basin number jump is not worrisome. She says the rising prices are due to increased demand, due to the fact that homes in Snyderville are more affordable than those in Park City. In addition, Kimball Junction is now seen as a second city center, making it attractive to chose housing in the Basin.

She says that the increases are similar in both areas, with both seeing increases. She continues, saying that the homes in the Basin may be undervalued. She says, “There were some good values, underpriced inventory that people snatched up. And then the next homes that came on were priced a little higher, but obviously people are still seeing it as more affordable as being in town, which caused a big demand in the Basin."

The market looks to remain steady and should continue to grow as new construction is gaining for the first time since the recession.

Tallman also says that a big snow year could be big for real estate. She says that many visitors will come to town because of Vail. She says that this influx should help the market. Visitors will see how easy it is to get here, and along with the area’s appeal, demand should drive prices higher.

If you want to know more about the Park City real estate market, give us a call at YouInParkCity.com!

 

Park City at Midnight Lineup Announced

By Todd Anderson
Dec 02, 2015

night-television-tv-theme-machines

Recently the Sundance Institute announced part of the upcoming lineup for the Sundance Film Festival. Announced were the Park City at Midnight lineup, which is known for its, shall we say, “offbeat” tastes. Here’s a quick look at the Midnight lineup:

“Yoga Hosers” — Two teenage best friends from Winnipeg love yoga and live on their phones. However, these two sophomores are invited to a senior party by the school’s popular hottie. These two then accidently uncover an ancient even buried beneath the neighborhood convenience store.

“Under the Shadow” — As the Iraq-Iran war enters its eighth year, a mother and daughter are torn apart by the bombings of Tehran. They struggle to stay together amid the ravages of war, while a mysterious evil stalks their apartment.

“Antibirth” — Set in a desolate community of drug-fueled Marines and kidnapping rumors, Lou, the stoner, wakes up after a night of partying. She wakes with symptoms of a strange illness, along with visions. She struggles to get a grasp on reality, while conspiracy stories spread.

“Carnage Park” — In 1978, a team of wannabe criminals botch a bank heist and flee with their hostages into the California desert. Here they find themselves fighting for survival against a psychotic ex-military sniper.

“The Blackout Experiments” — Friends discover a dark underworld of psychosexual horrors called Blackout. What started as a thrill rid through the unknown, turns personal and develops into obsessions that twists their lives and blurs the line between fantasy and reality.

“The Greasy Strangler” — Big Ronnie and his son Brayden meet tourist Janet on Ronnie’s Disco Walking Tour. When a fight for Janet’s heart starts between Ronnie and Brayden, the Greasy Strangler is unleashed.

“Outlaws and Angels” — A notorious bounty hunter is closing in on the trail of a gang of cold-blooded outlaws invading a home of a seemingly innocent frontier family. An unexpected game of cat and mouse begins, leading to role reversal, seduction, and revenge.

“Trash Fire” — Owen is forced to confront the past he has been running from his entire adult life. Subsequently, his girlfriend Isabel and he become tangled in a web of lies, deceit, and murder.

“31” — Five friends are kidnapped the day before Halloween. While held hostage, they are forced to play a violent game — 31, where they must survive 12 hours against a gang of evil clowns.

The rest of the lineup for the Festival is expected to be announced in early December. The Sundance Film Festival is one of the biggest events in Park City, and we at YouInParkCity.com invite you to join us for the festivities.

Things to do in Nearby Heber City and Beyond

By Todd Anderson
Nov 23, 2015

Promontory Real Estate

Did you know that just outside of Park City, there’s a wide open range of activities that you can enjoy all year round? Here’s a quick look at one our favorite of the outlying areas — Heber City — and things you can do and see there.

Heber City is located just 15 to 20 minutes from Park City and is a wonderful town to visit. If you are a golf enthusiasts there are two great courses — The Homestead and Wasatch State Park. Both of these courses offer golfers beautiful scenery to enjoy a round or two. You’ll also find another 2 courses at Soldier Hollow State Park, which was the site of many of the Nordic events during the 2002 Olympics.

Railroad enthusiasts should not miss the historic Heber Valley Railroad. This attractions travels between the Heber Valley and Vivian Park in Provo Canyon and offers some spectacular scenery along the way.

In nearby Midway at the Homestead Resort, go diving in the Homestead Crater. This is a tower 55-feet tall, beehive shaped geo-thermal dome filled with 90 degree water. This is a favorite spot for scuba divers and other that want to experience an underground phenomenon.

Ice Castles in Midway is open from late December to March (weather permitting) and offers visitors a winter wonderland full of extreme ice sculptures. You can walk through archways, tunnels, glossy rooms during this architectural ice adventure.

The Jordanelle Reservoir and State Park offers a wide variety of recreational adventures. You can go boating, skiing, or paddle boarding on this expansive body of water. Fishing is abundant, and for those who prefer dry land, there are miles of hiking trails.

If you are looking for a snow-based adventure that doesn’t involve skis or boards, check out Soldier Hollow Tubing. This attraction features 1,200 foot lift-served sliding lanes. You can enjoy this winter fun day or night, and you’ll love the wonderful sound system filling the air with your favorite tunes.

Take a tasty break and visit the Heber Valley Creamery. This creamery offers a variety of artisanal cheese and other dairy delights such as raw milk and ice cream. There are also several historical sites that you can visits such as Heber Fort and the Heber City Cemetery. One perennial favorite is the Commemorative Air Force Utah Wing Museum. This museum is home to many historic planes including many from World War II.

If you are interested in knowing more about this fantastic area, feel free to contact us!

Excitement Abounds Around Park City Opening

By Todd Anderson
Nov 21, 2015

views from 2983 Ridgetop Rd. Sundance, UTThere has been a long of excitement surrounding the upcoming opening of the area’s two combined ski resorts. This season represents the first year that Canyons and Park City Mountain Resort will be combined under the new name, simply Park City.

Among one of the most anticipated events is the opening of the Quicksilver Gondola. According to Bill Rock, chief operating officer of Park City, all the projects that were started in the summer should be ready to go early in the season. The Quicksilver Gondola will be the main connector between the two areas.

He says that the resort anticipates opening the gondola in mid-December, with all the improvements ready to open for Christmas week.

The anticipated opening day is Nov. 21, with parts of Canyons Village and Park City available for guests. Rock continues by saying that the resort has great snowmaking facilities, so the conditions should be excellent. He also anticipates that the entire mountain, or at least the majority of it, will be open by Christmas.

Other parts of the $50 million capital improvement projects include new snowmaking equipment, trail improvements, and a new look for employee uniforms.

Interesting, Park City has the potential to be affected by an El Nino weather system, so many in the area are anticipating a great winter with plenty of snow.

Bone also says that there has been a lot of interest in Park City from around the world. He says that becoming the largest resort in the country has created a lot of buzz, and the resort expects to see a large number of visitors.

The celebration of opening day on November 21 will start at 8 a.m. with traditional opening day festivities including live music, giveaways, free coffee and hot chocolate at the base area of Park City.

At about 8:45, Rock will speak to the crowd and officially start the season when lift service begins promptly at 9 .m.

Later in the afternoon, from 2 to 4 p.m., the Parlour Hounds will perform live on the PayDay deck.

Opening day at the new Park City is sure to be an exciting, big celebration. Organizers and Park City are looking forward to the first day of the resort, and say they are excited and ready to go!

At YouInParkCity.com and KW Park City Keller Williams Real Estate, we are looking forward to this grand opening as well as a wonderful ski season!

Park City Golf Course Home Sales 2015

By Todd Anderson
Nov 08, 2015

With winter now upon us how did sales at Park City’s local golf     communities fare for the summer 2015 season? Here is a review focused on property adjacent to Park City’s the golf courses.

Park City Municipal Golf Course:

The Old Town and Thaynes Canyon areas have homes and condominiums on and near the golf course. There is currently one active new construction home on the course and two that sold this summer. There are five condominium complexes on or near the course (Three Kings, Park Avenue, Hotel Park City, All Seasons and Payday); there are currently eight active listings, one pending sale and nine completed sales this summer ranging from $345K-$1.2M.

Park Meadows Country Club:

Home on the Park Meadows Golf Course For Sale Home on the Park Meadows Golf Course For Sale

The community around the Park Meadows golf course is one of Park City’s most desirable areas. While there are 37 active listings in the area, only four are truly on the golf course asking prices start at $1M for a condominium and $1.549 for a single family home. Of the 28 sales in the area this golf season, only 2 were on the course.

 

Glenwild

The gated community of Glenwild surrounding the course that usually receives Utah’s number one golf course ranking saw a bump in sales this golf season with four sales although none were on the course.  There are still twenty homes for sale in the area but there are also ten homes in some stage of construction which we believe is a strong positive sign for the area. Six of the available homes are on the golf course with prices ranging from $2.1M to $10M.

Jeremy Ranch

Home next to the 4th hole at Jeremy Ranch Golf & Country Club Home next to the 4th hole at Jeremy Ranch Golf & Country Club

With over 700 residences, not many of the homes and condominiums in Jeremy Ranch are truly on the golf course, but of the 43 sales this golf season, six were on the golf course.  Prices ranged from $585K to $1.3M. Of the 36 homes currently on the market in Jeremy six are on the golf course including one of the few available building lots offered at $360K. Homes range from $885K to $1.9M for golf course side homes.

Promontory

Promontory Golf homes New Construction near the clubhouse at the Nicklaus Designed Painted Valley Course

The Promontory area encompasses much more than golf and the area itself represents nearly 10% of the sales in the Greater Park City area.  Eight of the 32 homes sold this golf season were on the golf course with prices ranging from $1.055M to $4.15M. Currently 14 of the 62 available homes are on one of Promontory’s two world class golf courses.

 

Red Ledges

None of the twenty homes currently listed for sale at Red Ledges are truly on the golf course but approximately ten of the building lots are adjacent to the course. Plus there are a few lots that will be on the recently sodded par 3 course due to open next year. While not truly in Park City, Red Ledges is an easy drive to Park City and has many amenity associations with Park City and Deer Valley Resort.

Victory Ranch

Similar to Red Ledges, there are very few options that are truly on the golf course at Victory Ranch and at this point any options would be building lots rather than homes. Many sites will provide great golf course views, but few will be actually on the course. Victory Ranch is the most remote of Park City’s golf course communities, but a “clubhouse lounge” on Main St gives it great ski access during the winter.

Golf in Park City can be as long as an eight or nine month season for those willing to bundle up (clubs are still in my car today on Nov. 6) and sometimes the best deals can be found when the fairways are covered in snow. Contact a golf course home specialist at YouInParkCity.com now and get a jump on the 2016 season.

November in Park City: Events, Things to Do, and More

By Todd Anderson
Nov 06, 2015

snow-winter-chairs-seatsWhile many people think that the only thing to do in November is winter-based sports. However, there are lots of events and activities throughout this great month that showcases all of the great things to do in Park City. Take a look at some of the upcoming events and things to do.

Egyptian Theatre

November 6-7 Stand-Up Comedy

 

Park City Ski Swap

Nov 6-8, Basin Recreation

Come out and pick up some new equipment or sell some of yours. Sale begins Friday evening at 8 p.m.

 

Annual Navajo Rug Show and Sale

Nov. 6-8

This annual event is part of the Adopt-a Native-Elder program and supports the “Bridge of Hope” between Native Americans and other cultures. During this premier event, you will have the opportunity to purchase traditional, handmade Navajo rugs and other art pieces, as well as meeting the rug makers and artists.

 

Ririe Woodbury Dance Company

Nov 13-14, Egyptian Theatre

 

KPCW Main Street Music Crawl

Nov. 14

Celebrate like a local at the KPCW Main Street Music Crawl. This event happens at five venues, and features local bands and hundreds of participants. All proceeds go to benefit KPCW, Park City community radio station.

 

Overall Ball Gala

Nov. 14, Grand Summit Hotel

Have a BALL with Habitat for Humanity! This gala is a fundraiser for our local Habitat for Humanity.

 

Young Frankenstein – The New Musical by Mel Brooks

Nov. 20-21, Egyptian Theatre

This is the musical version of the hilarious Mel Brooks film. You’ll enjoy this great hit that is perfect for the entire family.

 

Opening Day at Park City Mountain Resort

Nov 21

Get out and enjoy some of the first snow of the season!

 

Park City Culinary Institute – Free Public Cuisine Tasting

Nov 25, 6-8 p.m.

Enjoy a delicious tasting from the Park City Culinary Institute’s graduating class. These chefs have studied under some of Park City’s best chefs and will be serving hors d’oeuvres and a specialty cocktail.

 

Thanksgiving

Nov. 26

You can find all sorts of great Thanksgiving feast ideas throughout the area. You can find delicious buffets, prix fixe menus at favorite restaurants, and even caterers who will deliver holiday favorites right to your home.

 

Las Friday Gallery Stroll

Nov. 27, 6-9 p.m.

Walk off some of the Thanksgiving calories at the Last Friday Gallery Stroll. Enjoy visiting some of Park City’s best art galleries. You can view special exhibits, highlighted artists and more, while enjoying light refreshments.

Things to do in nearby Heber City and Beyond

By Todd Anderson
Nov 02, 2015

Heber and Midway area 4 26Did you know that just outside of Park City, there’s a wide open range of activities that you can enjoy all year round? Here’s a quick look at one our favorite of the outlying areas — Heber City — and things you can do and see there.

Heber City is located just 15 to 20 minutes from Park City and is a wonderful town to visit. If you are a golf enthusiasts there are two great courses — The Homestead and Wasatch State Park. Both of these courses offer golfers beautiful scenery to enjoy a round or two. You’ll also find another 2 courses at Soldier Hollow State Park, which was the site of many of the Nordic events during the 2002 Olympics.

Railroad enthusiasts should not miss the historic Heber Valley Railroad. This attractions travels between the Heber Valley and Vivian Park in Provo Canyon and offers some spectacular scenery along the way.

In nearby Midway at the Homestead Resort, go diving in the Homestead Crater. This is a tower 55-feet tall, beehive shaped geo-thermal dome filled with 90 degree water. This is a favorite spot for scuba divers and other that want to experience an underground phenomenon.

Ice Castles in Midway is open from late December to March (weather permitting) and offers visitors a winter wonderland full of extreme ice sculptures. You can walk through archways, tunnels, glossy rooms during this architectural ice adventure.

The Jordanelle Reservoir and State Park offers a wide variety of recreational adventures. You can go boating, skiing, or paddle boarding on this expansive body of water. Fishing is abundant, and for those who prefer dry land, there are miles of hiking trails.

If you are looking for a snow-based adventure that doesn’t involve skis or boards, check out Soldier Hollow Tubing. This attraction features 1,200 foot lift-served sliding lanes. You can enjoy this winter fun day or night, and you’ll love the wonderful sound system filling the air with your favorite tunes.

Take a tasty break and visit the Heber Valley Creamery. This creamery offers a variety of artisanal cheese and other dairy delights such as raw milk and ice cream.

There are also several historical sites that you can visits such as Heber Fort and the Heber City Cemetery. One perennial favorite is the Commemorative Air Force Utah Wing Museum. This museum is home to many historic planes including many from World War II.

If you are interested in knowing more about this fantastic area, feel free to contact us!

Freshman Livi Underwood Leads Team to State Championship

By Todd Anderson
Nov 02, 2015

sun-ball-tennis-court

The team at YouInParkCity.com and Keller Williams Park City is pleased to recognize Park City High School’s Livi Rockwood.

Rockwood recently led the Park City tennis team to a state title. Rockwood, a freshman is Park City’s No. 1 singles player, defeated Madz Eames from Desert Hills in the finals 4-6, 6-1,6-0. In an interview, Rockwood blamed her slow start on nerves.

Rockwood said that her opponent was playing well, while she was making a lot of mistakes. She said, "I was just thinking I needed to be confident in my strokes and then, whatever happened, I could come off the court saying I tried.”

She also said that after the first set her coach Tamarin Espinoza told her that it’s a new start and she could basically start over. She continues saying, “I just went for it.”

Coach Espinoza says that Rockwood played beautifully — even in the first set. The coach said that Rockwood may have been affected by “freshman jitters” and having so many people cheering against her.

Taylor Matz, Park City’s No. 3 singles player and a sophomore, also won a title after defeating Morgan Matthews from Grantsville. Matz had been battling a shoulder injury for the majority of the season. She said she was glad her shoulder held up during the finals. “It felt good to win, especially since I was nervous about my shoulder.”

Overall, the entire team advanced to the second day of the tournament. Coach Espinoza said, “This was a team effort.” She continued by saying that the fact that everyone made it into the finals helped the team achieve the state title.

Espinoza said that her team benefits from playing against local Park City community members in practice matches. She indicated that recreational and league players would play against the varsity team, which she said was a very positive thing.

Now that the team has the title under their belts, the members are looking forward to defending their championship title. All members, except one, will be returning next year, and the team will also be adding two strong freshmen.

Matz said that with the strength of the team, she thinks that they can take the title again next year. The coach said that it is “going to be nice coming back as the defending state champions.”

Again, we at KW Park City Keller Williams Real Estate, and YouInParkCity.com extend our congratulations to the Park City High School girls tennis team.

Park City Real Estate Sales 2015 Q3

By Todd Anderson
Oct 12, 2015

The Park City, UT real estate market continued its strong trends for 2015 with the highest quarterly sales for the year and the third highest quarterly sales volume (unit sales) since 2006.

As per the YouInParkCity.com norm we look only at home and condominium sales in the “Greater Park City Area” (Park City and Deer Valley, the Snyderville Basin and the Jordanelle Reservoir Area.

Park City Single Family Homes Sold Q3 2015 Sold Park City Homes Q# 2015

There were 145 Single Family Home sales in the Greater Park City area during the third quarter of 2015. This number was down slightly from the same time in 2014 by approximately 10%. Conversely the median sales price jumped by $105,000 to reach $955,000. Sales of homes under $500k have almost completely vanished as there were seven such sales in the past quarter while the same period last year had twenty.  At the time of this writing there were two available homes listed for under $500K. At the other end of the spectrum, there were thirty five sales for more than $2M the same period last year had only nineteen. The current inventory of homes listed for over $2M is over two hundred.

Condominium Sales for the third quarter saw a large jump versus the third quarter of 2014 with 227 sales versus 193 during 2014. The median price stayed about the same as last year at $421K. A large portion of the bump in sales volume can be attributed to the completion of the Newpark Terrace development with forty sales recorded. With the exception of Newpark Terrace, condominium sales in Park City were spread evenly among developments.

Once again sales are happening very quickly with 38% of the recorded sales being on the market for less than two weeks. This is more significant for homes and condominiums under the median sales price. With fewer options on the market, Buyers need to quick to react to new listings.

Scarcity is a driving factor for Park City real estate; our focus in this report is Park City area homes and condominiums. Areas immediately outside Park City make up 25% of the sales across the Park City MLS system. The Kamas and Heber Valleys as well as Wanship & Coalville areas can provide viable alternatives to Park City with more property inventory and less scarcity.

For assistance in marketing your property for sale or finding a property to purchase contact a realty professional with the YouInParkCity.com group at KW Park City Keller Williams Real Estate (435)962-9472.

Data herein was compiled from the Park City Board of Realtors MLS System.  Information is deemed reliable, but not guaranteed.

What’s new in Historic Old Town Park City real estate?

By Todd Anderson
Oct 06, 2015

One of the areas in Park City where there is value being created by scarcity is Old Town. In the span of years from the mid 1800’s until now most of the lots have been built on. In a typical real estate cycle homes will age and then be torn down to develop new product. The difference in Old Town is that there are a significant number of structures on the Historical Register and these cannot be removed to build new structures. These structures include homes, sheds, garages and even chicken coops. Depending on the historical designation many of these structures cannot even be moved. This is why new construction in Old Town is so valuable.

That being said there are some exciting new construction opportunities in Old Town Park City.

The Parkite & 820 Park Ave

The Parkite:

This redevelopment of the Main Street Mall is nearing completion. Located on upper Main Street these 15 condos located in the heart of Old Town’s Historic District is a must see for Park City’s luxury buyer. For more information or to view available listings click The Parkite.

820 Park Avenue:

There are only three condominium subdivisions contiguous to the Town Lift Plaza ski lift and 820 Park Avenue, which is nearing completion, will be the newest most luxurious of the three. All ten of these condos are under contract.

Single Family Homes:

Sampson Ave, Echo Spur and King Rd

There is a s home on King Road that is under construction with an undetermined completion date. It will be between 1800 and 2100 sf and have three bedrooms and three baths. There is a possibility that there will be a basement added but at this point we are unsure.

A recent sale of a home on Sampson In the historic district that had all of the bells and whistles. There was no detail over looked. This home had 5 bedrooms and 5 bathrooms with a total sf of 3,870. This home sold at $4,000,000 for a per sf price of $1,034.

Echo Spur:

Echo Spur is a new Subdivision of 7 homes on Rossi Hill. Most of the homes will have exceptional views up to Empire Pass in Deer Valley. The most unique element to these homes will be the developer’s commitment to building a “Green Home”

45 King Road:

We identified a 10,000+ sf parcel that had a historic home on it and, for one of our investors, spearheaded the process with the city staff, historical planners and the City Council to get it re-platted. A typical Old Town lot is 1,875 sf. By combining parts of 8 different lots that made up this parcel we were able to create two 5000+ sf lots. We also worked to get the design and plans approved for a new home that incorporates the historic home. Construction is now underway on a 3400 sf home 1 ½ blocks from the top of Main Street on a flat lot a shared private drive. The views are exceptional. This home should be available in early summer of 2016. For more information contact Rob@YouInParkCity.com

There are other homes and condominiums in the design or construction phase. To find out which home might be the best fit for you or to determine the value of your property in Old Town contact the  YouInParkCity.com Group at KW Park City Keller Williams Real Estate (435)962-9472.

Park City Real Estate Competition by Price Point

By Todd Anderson
Sep 29, 2015

Whether you are a Buyer or a Seller in the Park City Real Estate market, the price point that you are buying or selling in can have dramatic impacts on how easy or hard the process is.

The Park City Real Estate Market has seen its strongest 12 month period for sales since 2006. Inventories are low and prices in many areas are above their historic peaks.  With that said it does not mean that there are no deals to be found or that the property you list for sale will be gone in a matter of days. There are many factors that make up the ultimate value of a home or condominium in Park City and of course location is the most important; the age, shape, layout, views and design also contribute to the value. Once all of the of the value factors of a home are considered, the ultimate price has an impact on what competitive part of the market you are buying or selling in.

Queen Esther at Deer Valley, Park City, UTah Under Contract in less than a week $549,000

A look at the past year’s sales, current under contracts, and active inventory in the Park City Real Estate Market homes and condominiums provides a lot of insight to the competition levels at different price points.

The Park City MLS recorded 844 condominium sales over the past 12 months and there are 395 currently listed for sale which gives us about 5.5 months of inventory at the past 12 months sales rate. This absorption rate though is dramatically different depending on the price range you are searching. For condominiums under $500K, that supply drops to months and increases to 20 months for condominiums listed for sale at over $1 million.

On the Market amid heavy competition $8 million - Courtesy KW Keller Williams Park City On the Market amid heavy competition $8 million - Courtesy KW Keller Williams Park City

Single family homes in the Park City real estate market show similarities: the current 388 homes listed for sale would be gone in 8.4 months at the past 12 month’s sales rate, but when broken down into price points a different storyline appears. The inventory of homes priced under $1M would last only 3.7 months at the current absorption rate while homes priced over $2M have an inventory that would last nearly 2 years (23.2 months) at the sales rate of the past 12 months.

Lower priced homes and condominiums are more competitive on the Buying side while higher priced homes and condos have more competition when it comes to Selling. To truly understand the implications of this we need to delve further into specifics of a Buyer or Sellers’ individual property types, subdivision, state of repair and of course location.

For a professional assessment and action plan for your Park City Real Estate needs contact a realty professional with the YouInParkCity.com Group of KW Park City Keller Williams Real Estate.

Deal Reached to Acquire Acreage Near the Rail Trail

By Todd Anderson
Sep 25, 2015

wood-landscape-nature-forestRecently, City Hall entered into an agreement that will acquire land just off the Rail Trail in the Prospector area. This is part of a conservation deal that keeps the possibility of using a small area of the acreage for a housing project open.

The transaction, which was unanimously authorized by the City Council, involves just a bit more than 14 acres of land on the south side of the Rail Trail. The land also climbs a hillside on the south side. The deal cost $500,000 and was entered into with Ted Sommer, the landowner. City Hall indicates that the transfer will be funded using two sources. One source is City Hal’s housing fund, while the other is generated from a portion of sales taxes that are set aside for uses such as conservation acquisitions.

Staffers at City Hall indicate that there is a possibility that a small portion of the land may be used for a municipal housing project. However, the decision has not been finalized and it is not known the type of project or how many units it would involve. One report that was submitted to officials also indicated a park might also be built on part of the land.

The Citizens Open Space Advisory Committee recommended the acquisition, saying, “The parcel holds significant open space value, as it is one of the remaining large parcels within city limits.” The recommendation continued, “…has significant hillside acreage visibility through much of town.”

The conservation efforts by City Hall date back more than two decades and are considered one of the government’s most highly praised programs. Officials have set aside large tracts of land from development. These areas include areas such as the S.R. 225 entryway and Round Valley. As you can see, it is not uncommon for large parcels of land inside the city limits to be acquired by City Hall.

At YouInParkCity.com and KW Park City Keller Williams Real Estate, we understand the intricacies and ins and outs of land acquisitions. If you are interested in purchase or selling any type of real estate in our area, please contact us. Our knowledgeable, experienced, and friendly staff can help you maneuver through a successful real estate transaction, no matter the size, as we specialize in all types of Park City real estate.

 
 
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