Park City, Utah real estate market news and information.

Park City Market Update

Local experience leads to impressive national exposure

The Park City area is known internationally for the “Greatest Snow on Earth” and its world class ski resorts. SKI Magazine’s annual reader survey ranked Deer Valley Resort as the #1 ski resort in North America for a record-shattering 5th year in a row. Perennial favorite, Park City Resort, and the up-and-coming Canyons Resort, garner rave reviews as well. Located only 35 minutes from the Salt Lake City International Airport, SKI Magazine ranks Park City’s resorts as the most easily accessible in North America.

What visitors to Park City don’t necessarily realize is that the Park City, Summit County & Wasatch County areas are home to a vibrant and fully engaged…

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Park City, Utah Single-Family Home Sales On The Rise

January 25, 2010 (Park City) - According to the Park City Board of REALTORS® more than $858 million in real estate transactions changed hands in the greater Park City area during 2009

The total sales volume includes condominiums, single family homes and land. In 2008, total sales exceeded $1.03 billion, which is a 16.9 percent decrease in the volume sold in 2009.

In spite of two difficult economic years, Park City's economy remains resilient," said Mark Seltenrich, president of the Park City Board of REALTORS. Compared to all other Rocky Mountain ski destinations, Park City has fared better than our neighbors in Colorado, Wyoming and other resort towns. For example, in Vail, Colo., REALTORS…

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Get Email Alerts From The Park City MLS!

Do you ever wonder why the good listings go so fast? Have you ever inquired about a property only to find out that it was already under contract? You can now stay on top of the market with new listing updates via email.

One of the most powerful tools available to you in your search for a Park City property is personalized email updates from the Park City MLS. These updates will notify you of any new properties or price revisions that match your criteria. If you rely on manual searches, other buyers may be one step ahead of you. With our email alerts, you will be notified as soon as new listings hit the Park City MLS and will know about them as soon as local REALTORS®.

To get started, please email us your…

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Park City Home Buyer News & Resources

The First Time Home Buyer Tax Credit is about to expire on November 30, 2009. The tax credit which is up to $8,000.00 is available to any home buyer who has not owned a home in the past three years. Congress introduced the program in February as part of the Stimulus Package.

Currently there are approximately 20 proposed bills in the House and Senate to extend and/or expand the credit, some with expansion of the credit, and other bills with restrictions and limitations that do not exist in the current law. One such extension proposal forward by Representative Ken Calvert, R-Corona (Riverside County) mirrors a bill sponsored by Senator John Isakson, R-Georgia which looks to increase the credit to $15,000 and make it…

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Lodges at Bear Hollow Condo for Sale 

3 Bedroom, 3 Bath, 1,357 Square Ft.,
MLS # 9981076
$379,000

Don't miss this Bear Hollow condo. Gret floor plan with wonderful views of the Swaner Nature Preserve and ski areas. Located on third floor with extended living area and cathedral ceilings (Spruce Floor Plan). Many upgrades including; central air conditioning, water softener, floor to ceiling stone face fireplace, hardwood floors, stainless steel appliances, granite, tile and many more. Potential lease option.

  • Outdoor pool
  • Club house
  • Hot tub
  • Gym

For more information or to schedule a showing contact Jason at 435-602-9294.


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Buyers for Mid-Range Homes Can't get Loans

by Andrew Kirk, OF THE RECORD STAFF
Posted: 05/05/2009 06:25:58 PM MDT
parkrecord.com

As predicted, real estate sales volume was way down this spring according to the First Quarter Report from the Park City Board of Realtors released this week.

Sales volume in the first quarter was $146.4 million as compared to $321.3 million the same time last year in Summit and Wasatch Counties.

The number of sales transactions fell to 166, down 55.7 percent from 375 transactions a year ago, according to the report.

Park City proper accounted for a larger percentage of those overall sales, and the Snyderville Basin accounted for less. Single-family homes accounted for a larger percentage of overall sales,…

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ROCKY MOUNTAIN RESORT ALLIANCE Part 3

Continued from Part 2.

Teton County, WY (Jackson Hole)
Only 3% of Teton County is private, with the remaining 97% not available for any type of private development. The population of Jackson Hole is 9000, with the total population of the county is 20,000. New improvements this year include a brand new tram at Jackson Hole resort. As in Park City, most of the area businesses are fully staffed, although those staffing levels are well down from previous years. For example, the Four Seasons expected to employ 275 seasonal workers, but instead are making due with just 125 seasonal workers, with the extra work being picked up by salaried employees. Anecdotally, in previous winters the want ads in the local paper…

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ROCKY MOUNTAIN RESORT ALLIANCE Part 2

Continued from Part 1

Aspen, CO (Aspen Mountain, Aspen Highlands, Snowmass and Buttermilk)
The Aspen Board of REALTORS® has lost about ten percent of their REALTORS® in the past year. Right now they have a three year supply of condos on the market, and their dollar volume was down about 40% in ’08 compared to ’07, while the number of transactions were down about 38% (thus average price is down slightly). However, prices are still very high compared to our market. For example, the Little Nell at the base of Aspen Mountain is under reconstruction turning it in to a condohotel. Most of the units were presold with prices up to $3.5 million - for a 1/8 share!

Park City, Utah
Headlines: Ski Magazine names Deer…

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ROCKY MOUNTAIN RESORT ALLIANCE

WINTER MEETING, JANUARY 2009

Mark Seltenrich and Bridgett Murphy, Directors for the Park City Board of REALTORS recently returned from the annual winter meeting for the Rocky Mountain Resort Alliance (RMRA) held in 2008 at Winter Park, Colorado. There were three sessions over the two days of meetings, including a panel discussion from representatives from Winter Park, Vail, Jackson Hole and Sun Valley, a panel discussion from representatives of the respective Boards of REALTORS® for all resorts attending, and a RMRA business meeting. As you might expect, sales numbers and volume are down in 2008 compared with 2007 at all member resorts. Most resorts are experiencing the same conditions as we are here in Park City,…

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Park City Real Estate Market News

Originally Posted on November 4, 2008 - 654 Views.

24 October 2008 (Park City) – The Park City Board of REALTORS® reported today that the median sales price of a single-family home in the greater Park City area – which includes Summit and Wasatch counties – in the first nine months of 2008 showed a slight 3 percent decline to $653,750, down from $674,500 in the same nine-month period in 2007.

"The national economic downturn is affecting home prices in Park City," said Tyler Richardson, president of the Park City Board of REALTORS®. "However, the decline in home prices in Park City is small compared to falling home prices in many other parts of the country, which in some cases are witnessing drastic price…

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