Part 1 - Park City Real Estate Market Fundamental Facts

Posted by Admin Admin on Sunday, December 21st, 2008 at 10:06pm.

PARK CITY REAL ESTATE MARKET FUNDAMENTAL FACTS
The global economy may dip and soar, but life in Park City remains pretty stable. While we can’t claim total immunity from external economic pressures, this localized real estate market is a safe harbor to weather the storm. Why? The fundamental attractions of Park City—world class recreation, a comfortable year-round climate, convenient access and a strong sense of community—are unwavering. Together, these fundamentals will continue to create growth and stability in our market, long into the future.


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Convenient Access
Not only is it a snap to get around in Park City with our free, kid-friendly bus system, but getting here in the first place is also incredibly easy. The Salt Lake City International Airport is only 30 miles away by major freeway, and boasts over 450 scheduled departures per day to over 100 non-stop destinations in the United States, Canada, Mexico and Europe. What’s more, in 2008 the Salt Lake International Airport ranked first in the nation for on-time departures and arrivals and had the fewest number of flight cancellations. Compare this convenient access to that of most other major resorts in the country, which require lengthy drives or costly commuter flights to remote regional airports. It’s so easy to access Park City that you could catch a morning flight from almost anywhere in the country and be skiing on our slopes by the afternoon. In fact, the Park City Quick Start program allows visitors to convert airline boarding passes for free same-day lift tickets at Deer Valley Resort, Park City Mountain Resort or The Canyons Resort. Check out this site for details: http://www.parkcityinfo.com/quickstart/

 

Strong & Competitive Market Values
While Park City’s real estate market does follow the same general trends as most Rocky Mountain resort destinations, this area offers some unique factors that keep our market stronger and steadier than most of our neighbors. The Park City area is earlier in its development cycle, thus offering a better value than many other top tier resorts. In most resort communities, developable land is all but built out, driving prices to nearly impossible heights. While our developable land is becoming scarce, Park City still offers new construction projects. What’s more, the Park City area offers incredible variety—both in terms of price and product type. The diversity of real estate offerings ranges from multi-million dollar luxury estates to more affordable options. So much variety only serves to keep our real estate values competitive.

 

A Proven Commitment to Quality of Life
Park City residents are deeply committed to preserving the open space that provides scenic vistas, wildlife habitat, an extensive trail network and rural charm. In fact, we’re so committed, that locals have bonded themselves twice in the city limits and once in the county to the total tune of $40 million, for the sole purpose of purchasing and forever preserving land as open space. Buying into Park City means you’re buying into an area with an increasing supply of protected open space and a decreasing supply of developable land. Park City’s commitment to quality of life is further echoed in its significant strides in sustainable living practices. Park City Municipal Corporation is leading the charge with biodiesel public transit, a community carbon footprint counter, wind and solar power exploration and a progressive green building program. Major community businesses are also looking ahead with long-term sustainability measures. All three area ski resorts implement eco-friendly practices and Park City Mountain Resort was recently honored for offsetting 100% of its power consumption with the prestigious Silver Eagle Award for Energy Conservation.

 

More Options for Skiing
When you choose Park City for a vacation destination or your new home base, you have a lot of choices. Choices for dining, choices for shopping, choices for real estate and…choices for skiing. Right within the Park City community are three of the continent’s top-ranked mountain resorts. In 2008, the readers of SKI magazine ranked Deer Valley Resort #1, Park City Mountain Resort #5 and The Canyons Resort #13 out of over 750 resorts in North America. Add to these choices Park City’s own White Pine Nordic Ski Center, which offers over 20 kilometers of groomed cross-country ski trails. And, within an easy hour’s drive of Park City are seven other major alpine ski and snowboard resorts and four cross-country ski centers.

 

A Year-Round Recreation Haven
Playtime doesn’t stop when the snow melts. All year long, Park City residents can be found hiking, running, horseback riding and biking on our literally hundreds of miles of trails. In fact, our trail network is one of the most comprehensive, non-motorized trail systems in the country, and one of the best examples of collaboration between government, citizens, businesses and non-profits. Learn more at http://www.mountaintrails.org. The Park City area is home to six golf courses, with more proposed; tennis courts and swimming pools; a complete city park and an indoor field house. Only a few minutes outside of town, the Jordanelle Reservoir beckons for sailing, canoeing and motor boating, and the mountain rivers feeding it offer blue ribbon fly-fishing.

Continued on Part 2



Park City Real Estate Search
Berkshire Hathaway HomeServices Utah
2200 Park Avenue, Park City, Utah 84060
Linda: 435-640-4816 | Jason: 435-602-9294
info@parkcityrealestatesearch.com

 

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