Park City Family Plans to Sell Holdings at Town Lift Base with a $27 Million Listing Price


The Sweeney family’s Brothers III LLC is listing its holdings at the base of the Town Lift for $27 million, marking a pivotal moment for one of Park City’s most iconic locations. The offering includes a building with six commercial spaces, a 25% stake in the Town Lift Plaza garage, and the largest section of the Town Lift deck. Developed in the 1990s alongside the Town Lift, these properties have played a key role in shaping the growth of lower Main Street and supporting the city’s thriving tourism industry.

With the three Sweeney brothers now in their 70s and no younger family members available to manage the properties, the sale signifies a generational…

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Park City Council green-lights $30 million dollar partnership with Deer Valley Resort.

Deer Valley Resort Snow Park Expansion


While leaders in the business and tourism community lauded the project through letters of support and public comment many residents raised concerns about the speed of the approval and the closed door negotiations of the $30 million dollar partnership.

PARK CITY, Utah — In a landmark decision, the Park City Council unanimously approved a public-private partnership with Deer Valley Resort at the last City Council meeting of the year on Thursday, Dec. 14. This partnership paves the way for the redevelopment of the Snow Park Base and includes a $30 million dollar regional transportation facility, that may include affordable housing. According to the Letter…

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Park City MLS Monthly Activity Report - November 2023

Above numbers compared to the same period prior year.

Park City MLS Activity Report

New Listings: New listings, which were being added to the system at a rate of around 200 per month for the first four months of 2023, jumped to over 300 in May and remained steady at over 300 each month until the annual fall slowdown started in September. As the inventory graph below shows, active inventory was 1,736 at the end of August, the highest since July 2020. It has been slipping each month since, which is totally expected as we roll into the holidays.

Pending Listings: One of the reasons that inventory grew through the summer is because agents were writing fewer contracts than they are listing…

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Engel Voelkers Park City

Park City Market Report Q3 2023.

With inventories returning to a more normal pre-Covid level, and competition for available properties still running strong despite record high mortgage interest rates, third quarter sales totals for single family homes in Summit and Wasatch counties were 46% higher than in second quarter, but the longer lens of year-over-year change showed sales dropped 25% while prices remained steady to up slightly. The median home sale price in the PCMLS primary market area increased just $10,000 for the year ending 9/30/23 vs. the same period ending 9/30/22. The quarterly increase in sales volume presages the direction consumers should expect to see in both prices and sales volume in the year ahead. This decrease in local…

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Utah Ski Resorts Take 1st and 2nd Place in Ski Magazine’s Western Rankings.

Northern Utah is well represented in Ski Magazine’s list of the top 30 Western ski resorts, with Powder Mountain taking first place, Snowbasin coming in second and both Alta and Deer Valley making the top 10

Nearly every Utah resort broke some kind of record — Powder Mountain recorded its highest snowpack since 1977, according to Ski Utah, while Snowbasin had its longest season and most recorded snowfall ever.

In total, seven Utah resorts made the list:

  • Powder Mountain - No. 1.
  • Snowbasin Resort - No. 2.
  • Alta Ski Area - No. 7.
  • Deer Valley - No. 9.
  • Snowbird Mountain Resort - No. 13.
  • Park City Resort - No. 15.
  • Brighton Resort - No. 17.

…

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Happiest State in America: Utah

 

WalletHub released its annual “Happiest States in America” report, showing that Utah is the happiest state in the United States.

All 50 states were measured across 30 metrics, like depression rates, productivity, income growth, unemployment rates, sports participation rates, work environment and sleep rate. Upon analyzing the data, WalletHub revealed that Utah came out as the happiest state overall. Of notable mention was Utah’s remarkable volunteer rate, standing at an impressive 40.7 percent, surpassing Florida, the state with the lowest volunteer rate, by a striking 2.6-fold margin. In addition, Utah boasted the nation’s lowest separation and divorce rate, further enhancing its standing as a hub of…

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PARK CITY MLS MONTHLY ACTIVITY REPORT - August 2023

Park City Utah MLS stats for August 2023

Above numbers compared to the same period prior year.

Park City MLS Activity Report

New Listings: New listings, which were being added to the system at a rate of around 200 per month for the first four months of 2023, jumped to over 300 in May and has remained steady at over 300 each month since. As the inventory graph below shows, active inventory was 1,736 at the end of August, which is the first time the total inventory exceeds that of the pre-Covid period in fall 2020.

Pending Listings: One of the reasons that inventory has grown is because agents are writing far fewer contracts than they are listing new properties. 304 New listings were added in August, while only 216 contracts were…

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Deer Valley Resort Will Double Its Skiable Terrain While Adding Premier Hospitality via a New Village and Portal

Deer Valley Mayflower Resort Expansion Announced

Denver, CO, August 24, 2023 – Alterra Mountain Company, the world’s premier mountain operating company, has announced a major terrain expansion of Deer Valley Resort that will add 3,700 acres of terrain to its world-renowned, ski-only destination located in the Wasatch Mountains in Park City, Utah. In addition, the development of a new village and portal will dramatically improve access to the resort while adding world-class lodging, dining, and retail amenities in partnership with Extell Development Company.

The expansion will more than double Deer Valley’s skiable terrain, adding 16 new lifts and a new 10-passenger gondola,…

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Park City & Wasatch Back Market Report - Q2 2023

2nd Quarter 2023 Park City Market Report

Park City Real Estate
2023 | Q2

In 2023, second quarter sales totals for single family homes in Summit and Wasatch counties were 13% higher than in first quarter, with unit sales climbing 22%. Sales prices are a different story. The median home sale price in the PCMLS primary market area dropped from $1.66 million in Q1 to $1.59 million, a decline of 4%.

The market volatility experienced during, and immediately following, the Covid crisis has abated considerably. The Park City real estate market is reflecting trends seen elsewhere in the country, as business returns to a more “normal” seasonal pattern.

  • Listing inventory is rising - At the end of Q2 - 2022 only 858 residential properties…

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Park City MLS Monthly Activity Report - July 2023

Park City MLS Monthly Activity Report July 2023

Above numbers compared to the same period prior year.

Park City MLS Activity Report

New Listings: New listings, which were being added to the system at a rate of around 200 per month for the past few months, jumped to over 300 in May and to 359 new additions in June. That number slid back to the May level in July (307). Pending Listings: One of the reasons that inventory has grown is because agents are writing far fewer contracts than they are listing new properties. 307 New listings were added in July, while only 200 contracts were written, making for a net gain in inventory of over 100 homes.

Closed Sales: 2022 showed a return to almost the same sales pace as we saw in pre-Covid 2019.…

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