Park City, UT Real Estate News

By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
Single family homes in Park Meadows represented one of the hotter segments of our local market over the past 12 months with an appreciation of 22%, near the top of the heap in Park City and contrasting with the average price appreciation of just over 7%. The Park Meadows area has many unique features that make it one of the most desirable areas in town for both primary and second home owners. It has a location just minutes from Main Street and easy access to all three local ski resorts.  Park Meadows is also bathed in sunshine when other areas of Park City are not, this is not lost on potential buyers. There are several trail heads that offer easy access to the many miles of hiking and biking trails in Round Valley and many of the home sites in Park Meadows back to these areas as well. ...
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By Karin Gage
(Berkshire Hathaway)
With the “Greatest Snow on Earth” right in our backyard, it’s no wonder that we have so many Winter Olympians competing at the Sochi Games—in fact a total of 35. However, what many may not know is that at Summit Sotheby’s, we have three proud parents of athletes competing at the Games. While their sons and daughters often bask in the spotlight, these parents are often the cheering section. So, who are these proud parents of these athletes and how are they are not only making their athletes successful, but Summit Sotheby’s as well? Scott Webber – Julia Mancuso’s Stepfather Scott Webber, is a partner in Summit Sotheby’s International Realty, and the President of Fuller Sotheby’s International Realty in Colorado. He is a third generation real estate professional with more than 35 years of ...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
The Park City real estate market closed the year on a very strong note with a total of 2,230 sales overall, a jump of over 22% from the previous year and double the market low in 2009. Total sales dollar volume was over $1.52 billion which represents a 22% increase over a year ago. Prices rose over 7% on average and the end of the year saw increased demand for all property segments from the lower end, to moderate and all the way to the high end. The current number of active listings is 1,981 which is lower than anything we have seen since record keeping began.  This is not an issue unique to the Park City market as my interaction with Realtors all over the country tells me that this is more the norm nationwide. The absorption rate for condos and Single Family homes ended the year at 7.4...
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By Matt Sidford, Leading the Park City and Deer Valley Markets Sinc
As you might expect, Park City hosts a myriad of plants and animals unmatched by anywhere else in North America. The steep mountain ranges of Utah are the home of four-legged animals like elk, mule deer, moose, black bears, and red fox—Oh My!   Geographically, Utah is an interesting place, providing a variety of desert, wetlands, and mountain ranges, and as a result, you’ll see a wide variety of plants and animals indigenous to Utah’s variable terrain. In the Wasatch and Uintah Mountains of Park City and Utah, you can expect to see mule deer, moose, and black bear, to name a few.   You might run across a black bear in the mountains, but don’t be too worried, they are typically shy and easily frightened. They also weight anywhere between 125 and 600, but can run up to 35 miles per hour. ...
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Steve Holcomb is a true inspiration to the Olympic games. He was born April 14, 1980 in Park City, and has been competing since 1998. During the 2002 America’s Cup events, he stood on the podium in eight of the eight races. He slid into 14th place at the two man bobsled event, and sixth in the four man race at the Torino Olympic Games in Torino. In 2007, he claimed World Cup titles in both the two-man and combined events. It is crazy to think that these athletes grew up around the same places we all hang out in Old Town Park City.    In 2008, Holcomb underwent a new procedure to correct a degenerative eye disease that was claiming his eyesight. The procedure restored his vision from a previous 20-500 to 20-20. After the success of the procedure, he went on to win a 2010 World Cup title ...
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In the opening day press conference at the beginning of the 2014 Sundance Film Festival in Park City, Sundance President and Founder Robert Redford made these remarks. “Change is inevitable. You either resist it—we know who those people are—or you go with it,” he said. “We want to ride with that wave.”   Celebrating its 30th year in a row, the Sundance Film Festival has definitely changed and evolved over time. In 1985, only 80 feature films were presented, whereas a total of 118 films were shown this year. A total of ten awards were given in 1985, while 27 awards were given this year. Some of the top-rated films shown in 1985 were Blood Simple, The Brother From Another Planet, and Stranger Than Paradise.   Not only has the number of films shown and awards given at the festival changed,...
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By Matt Sidford, Leading the Park City and Deer Valley Markets Sinc
It has been a busy, yet exciting week here in Park City, Utah! January 26th marked the end of the 30th Annual Sundance Film Festival, put on through acting legend Robert Redford’s Sundance Institute. For the past 30 years, the festival has attracted thousands of independent film artists to showcase their talents and receive recognition for their outstanding work. Since the first official Sundance Film Festival in 1984 a lot has changed but its mission has stayed focused on shining the spotlight towards independent filmmakers. The first festival had 86 film screenings and a staff of only 13. As the festival’s reputation grew, it became internationally recognized and drew in a crowds by the thousands. By 1996, the festival acquired an audience of over 15,000 people and screened 184 films....
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
The first ski race of the 2014 season took place on Saturday January 25, 2014 at Park City Mountain Resort. It is a one run format Giant Slalom set up in the Eagle race arena at PCMR. As usual all of the local ski teams were there with their tents, food and support system.  These teams included the Park City Ski Team, Snowbird, Brighton, Rowland Hall and The Summit Ski Team from Canyons where my daughter Kyra races. It could not have been a nicer day with bluebird skies and temps hovering in the mid 30's making this a great event for the participants, spectators and anxious parents as well. My 10 year old daughter finished 65th out of 118 girls and needless to say we are very proud of her.  This is only her second year ski racing and really only her second year skiing more than a few ti...
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By Karin Gage
(Berkshire Hathaway)
Park City has become a very active and vibrant community, offering a wealth of activities that appeal to everyone’s tastes.   Not only does Park City offer great restaurants, art festivals, film festivals, world-class theater, and Olympic events, it also boasts several nice art galleries as well. In Park City, you can spend an entire day touring art galleries, listening to performing artists, and attending art festivals on a year-round basis.   In Park City, you can attend world-class events like the Sundance Film Festival. This year, the film festival celebrates its 30th Anniversary, and this year’s lineup includes some diverse and provocative films that you won’t see anywhere else. But if you miss the film festival, you can always catch a play or live performance at the Egyptian theat...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
Fairway Springs Ski and Golf Villas are located in the Frostwood area of Canyons Resort a short walk from the Waldorf Gondola. There are currently five developer units available.  Three 3 bedroom/3 bath 2,011 square foot units priced at $1,049,000, one 4 bedroom/5 bath 2,254 square foot townhome at $1,365,000 and a larger 4,022 square foot 4 bedroom/5 bath Villa priced at $2,199,000. This larger Villa has two living areas, one set up as a pool table room in it's current configuration. It has a huge master bedroom suite, bunk room and two other bedrooms as well. These developer units are all sold fully furnished and move in ready for any buyers that would like a great value on a new construction townhome in the heart of Canyons Resort.  They all have private hot tubs in the rear as well ...
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By Todd Anderson, Park City | Deer Valley Real Estate
(You In Park City group - KW Park City Keller Williams Real Estate)
We are now solidly into 2014 so it is time to take a look at what happened in the Park City real estate market for 2013. Sales of single family homes and condominiums in the Greater Park City area were very solid with sales unit volume up 14% from 2012. This represents the best year since 2006. The median sales price for both single family homes and condominiums in and around Park City also rose during 2013. The median price for a home rose by 5.8% to nearly $800,000 while Park City condominiums saw their median sales price rise 8.7% to nearly $380,000. Inventory levels have continued to fall with last year’s absorption rate correlating to just over seven (7) months of inventory currently for sale in the Park City area. During the market downturn of 2008 and 2009 inventory levels and sa...
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The annual Sundance Film Festival is scheduled for January 16-26, 2014, celebrating its 30th Anniversary of independent films. Over than 50,000 people attend screenings in Park City, Salt Lake City, Ogden, and Sundance, Utah, and the film lineup for this year is better than ever. This year you can expect to see many celebrities from the Silver Screen, Olympic, movie makers, and movie goers, and everyone else. This year will showcase about 121 films, some of which you definitely don’t want to miss.   For example, William H. Macy makes his directorial debut in a film called “Rudderless” that looks like a must-see. Rudderless is a story about a grieving father who finds a box of music that was left behind by his deceased son. The father decides to form a rock band to help handle his grief....
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
The Sterling Lodge at Deer Valley is located directly adjacent to the Silver Lake Lodge in the Silver Lake area of Upper Deer Valley.  These condos were built in 1997 and have stood the test of time very well. The Sterling Lodge has direct ski access to Silver Lake as well as a short walk to the shops and restaurants of Silver Lake Village. From this location you are about a 45 minute drive to Salt Lake International Airport meaning you can catch a flight in the morning from any major airport in the United States, check in and still have time to make some turns in the afternoon, and you can also get a half day of skiing in on your day of departure if you are savvy enough to book a late afternoon or evening flight back home. The Sterling Lodge is less than 10 minutes from the town of Par...
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The FIS Freestyle games are in full swing in Deer Valley, and athletes are into the final weeks of competition in an effort to qualify for the Sochi 2014 Winter Olympics, as two branches of freestyles skiing (Visa International moguls and aerials) come together for the FIS Freestyle championship.   It’s now a full-on race to the finish of the qualification period for the Sochi 2014 Winter Olympic Games, and two branches of the World Cup tour are coming together for the FIS Freestyle Competition   The event marks the 15th year in a row of international and elite ski competitions at Deer Valley, including the 2002 Winter Olympic Games. Be there to witness Visa International moguls and aerials at Deer Valley Resort, USA, as the two tours pack several events into the last weeks before the G...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
When people think ski vacations and ski condos they often want something that is no hassle, wake up and walk out the front door to ski. There is currently a nice selection of ski-in/ski-out condominiums at Park City Mountain Resort that fit this criteria. These range from units right at the Resort Plaza like Park City Village, Resort Center, Village Loft, Silver Mill House and Marsac Mill Manor to Silver King and Shadow Ridge in the parking lot area.  Their are also three two bedroom units remaining at the Lowell, all around the $1 million dollar price point that are not currently listed on the MLS but are available. Snow Flower is another great project located just next to the First Time, Three Kings and Eagle chairs and Crescent Ridge just above, rounds out the selections that are ski...
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Jessica Jerome has quickly become a portrait of a winner since she won the first American spot in the women’s in the women’s ski jumping competition, held on Sunday, December 29. The competition was held at the Olympic Park in Jessica’s home town—Park City. The locals are ecstatic about the news, and Jessica’s parents are pretty happy too. After all, their daughter earned the first American spot in the first women's ski jumping competition in Olympics history, winning the U.S. trials Sunday, and a feat to certainly be proud of.   At the young age of seven, she eventually talked her parents into letting her join the Park City Nordic Ski Club. “They came to my elementary school and talked about their program to us during second grade, so I told my mom I wanted to sign up, but my parents t...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
Bear Hollow Village in Park City is a mixed use development located just below the Utah Olympic Park in Park City.  For anyone that attended the 2002 games, Bear Hollow was built largely on the parking lot that was used for the events in the area at that time so most of the development is 10 years old or less. There are condos, townhomes and single family homes in Bear Hollow as well as a limited amount of commercial space in the core of the village. There is a clubhouse in the village with a exercise room and outdoor pool as well as a nice grassy area in the warmer summer months for the kids to play. Though the vast majority of the residences here are condos and townhomes there are a limited amount of single family homes located on the outskirts of the subdivision.  These homes do allo...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
Located just across the street from the Silver Lake Village Plaza and lifts is the Black Bear Lodge in Upper Deer Valley. Black Bear Lodge is a more affordable alternative to many of the high priced condos and homes in Upper Deer Valley.  The HOA fees are reasonable and these units are great rentals.  If you are looking for a ski condo that will cover a large percentage of your costs Black Bear Lodge is the answer you are looking for. Black Bear Lodge is about as close as you can get to ski access without being ski-in/ski-out.  It is a short walk to Silver Lake Village and probably no further than walking from the middle of the parking lot at Park City Mountain Resort up to the Payday or Eagle lifts to start your day. There is a nice outdoor pool and hot tub as well as a fitness room fo...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
If you were wondering where the deals are in Park City and Deer Valley real estate, look no further than ski condos in Upper Deer Valley. This is an area that has certainly picked up over the last few years but has not caught the type of bid that many other areas of Park City have.  Prices are still down significantly from the highs in 2006-2007 and have not moved that much off the bottom. As the economy continues to improve and Deer Valley continues with it's expansion I believe it is a matter of time before renewed interest drives prices higher in this area. There are currently 36 condos available in Upper Deer Valley.  These range from a 2 bedroom/3 bath 1,336 sq. ft. condo at Black Bear Lodge at $630,000 to a 4 bedroom/5 bath 3,234 sq. ft. condo at Stein Eriksen Lodge priced at $2,9...
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By Scott Larson, Park City, Utah Real Estate News
(BHHS/Utah Properties)
The Silver Baron Lodge in Lower Deer Valley is one of the newer developments in Deer Valley, having been completed in 2005.  Though not true ski-in/ski-out condos they share a shuttle with their next door neighbor, The Lodges at Deer Valley, making for a very convenient ski experience, no automobile required. The building has a distinct mining feel to it and when you are inside you almost feel like you are right inside some other worldly contemporary mine. The units themselves are very nicely equipped with liberal use of natural stone, wood and glass and all come with high end kitchens, fireplace and large outdoor deck with hot tub. There is a very nice reception/greeting area on the main level as well as heated outdoor pool and hot tubs, conference space and breakfast area.  The buildi...
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