From the Desk of Brad Jensen
Park City Utah | Real Estate Newsletter | August 2016
Dear Park City,
We are now deep into our summer season. The annual Park City Arts Festival was once again a huge success and lots of fun was had on Main Street. If you haven’t ever been in town for the Friday “Local’s Night Stroll” you have to try it. It is the best of the arts fest.
The Tour of Utah bicycle race is considered the toughest stage race in North America and has become one of the most prestigious bike races in the country. Thanks to all of you who came by our Main Street office to enjoy the festivities and one of the most dramatic finishes yet as Lachlan Morton from Team Jelly Belly over took the yellow jersey in the final sprint up Main Street right past our office to secure the stage win and to win the General Classification. We have been very fortunate in Park City to have the race organizers include us in one or more of the stages. To have the final stage finish on Main Street this year was fantastic.
School begins for most kids in a couple of weeks and then it will quiet down around town until the snow flies. The autumn season is an excellent time to be in Park City. The days are warm, the nights are cool, and the autumn colors are spectacular. It is the best time of the year for hiking and biking on any of the many trails around town. There is always a wonderful anticipation in the air as the seasons change. People begin to think about the upcoming ski season. Which by the way is a reminder to get your ski passes during the pre-season sale period.
The real estate market continues to be strong. Inventories are continuing to shrink and prices are inching up steadily. It is becoming more and more difficult to find lower to mid-range priced properties. There is still an overabundance of higher priced properties in the market place.
For the past six months to date, there have been 590 Single Family Homes sold with an average price of $1,107,000 and a median price of $676,000. There have been 422 condos sold with an average price of $656,000 and a median price of $498,000. There have been 264 parcels of vacant land and improved lots sold with an average price of $437,000 and a median price of $222,000.
For more detailed information regarding market activity please see second quarter statistics below.
If you ever have questions about the market or activity in your neighborhood please reach out to me. I am always happy to discuss and can provide specific data for your area of the market.
I hope to see you all out on the trails this fall.
Summit Sotheby’s International Realty
Park City Area Market Update | Q2 2016
We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area for the 2nd Quarter 2016, comparing current year with previous years. This update also provides market data for Summit County, Wasatch County, 84060, 80498 and individual Park City MLS areas.
Market data provided includes:
Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.
Collections Magazine is Summit Sotheby’s International Realty’s premiere guide of the finest luxury properties, lifestyles and real estate throughout Utah. Each issue, published bi-annually, showcases luxury estates and homes for sale from the finest international real estate specialists.
Click here to view our online edition!
SSIR Comprehensive Park City
Real Estate Market Update Website
Real estate is hyper local. So much so, that each neighborhood, block and even street can have varying histories and current market data. This is why we built parkcitymarketupdate.com, a responsive, user-friendly website to help you navigate Park City’s market trends. Here you’ll find videos, infographics, quarterly and yearly reports, all broken down by neighborhood. Want more in-depth information? A property evaluation? Connect with Brad Jensen for up-to-the-minute market information and expert knowledge and experience
Deer Vista | 103 Home Sites | Starting at $355,000
Deer Vista is a gated residential community located on the shores of the Jordanelle Lake, just minutes east of Park City. Every homesite in Deer Vista enjoys a breathtaking panoramic view of the surrounding mountains mirrored in the lakes reflection. Imagine relaxing on your deck as the sun rises across the lake before heading out to play a round of golf at any of the nine spectacular public courses, or just dropping in at the Jordanelle gondola to catch first tracks. Deer Vista is the ultimate setting with competitively priced homesites offering quick and easy access to the arts and recreation that Park City is known for. Deer Vista is an incredible value for full time residents and second home owners alike. All utilities, roads and community trails are complete and the developer has paid the water bond, which represents a huge savings to property owners of between $18,000 and $22,000 as compared to other new developments in the area.
Dreams do come true, at Deer Vista.
To set up a private tour email Brad Jensen – firstname.lastname@example.org