From the Desk of Brad Jensen
Spring has sprung in Park City and it is time to break out the warm weather gear. The ski season turned out to be a good one. We received good snow and there were a lot of skiers in town and on the mountains. There were a lot of foreign languages spoken in the lift lines. It could be that people had heard we had the largest ski resort in North America. Time to break out the bikes and golf clubs, get in the saddle and ride, drive, chip and putt. I love this time of year.
The real estate market continues to be somewhat fragmented. There continues to be strong demand in single family home neighborhoods and residential properties under $2MM. Neighborhoods like Silver Springs and Ranch Place continue to have an inventory shortage while more expensive neighborhoods, $2MM and above, have an abundance of inventory. Properties are selling in all price ranges and in all neighborhoods it is just that there is more to choose from in more expensive neighborhoods.
Condos are selling, particularly if they are priced under $1.5MM and they are well suited for primary residences.
Lot sales are strong. There is limited inventory in most areas unless you are looking in the various golf resort communities or around the Jordanelle Lake which is just outside of town.
We have continued to sell lots in Deer Vista through the winter and expect to have a strong season this summer. We will be bringing several new lots to market in the next few weeks and more in the weeks to follow. All of these lots have breathtaking views of the Jordanelle Lake and the surrounding mountains and ski resorts. All of our lots are south and southwest facing for spectacular sunrises and sunsets all year round. Most of our homesites are over an acre in size and some are well over 2 full acres. Roads, curb and gutter, and all utilities are in with natural gas, electric, water and sewer ready to hook up and we have high speed fiber optic for wi-fi. There are no hidden fees when our residents plan to build. If you are thinking about building a new home please take a look. We feel that it is the best value because there are no big dues, just big views. If you go by you will notice that there are two new homes being built and there will be more to follow this summer. Please look for updates over the next couple of months.
Thank you for reading our newsletter. If I can ever be of service please reach out to me. I always enjoy hearing from you.
Summit Sotheby’s International Realty
Summit Sotheby’s International; Realty – 1st Quarter 2016 Review
We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area for the 1st 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.
PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer, Woodland – Francis.
Our market continues to be highly segmented with micro-markets dividing product by price, property type, and demand, so it is best to contact Brad Jensen (435) 901-8333 for information on what is happening in your neighborhood.
Did you know that we can help you buy/sell anywhere in the world?
How often have you wished a trusted friend or colleague could recommend a professional to you rather than relying on a stranger from the internet or phone book?
If you’re thinking of buying, we’ll find you an agent who knows the area you’re interested in. If you are looking to sell a property out of state, we will research, interview and find you a REALTOR® who is best suited to assist you and who has a proven track record. We have relationships with Sotheby’s International Realty sales associates all over the world.
So wherever you are, when you decide to buy or sell real estate, please call Brad (435) 901-8333. We work diligently to earn your business and your confidence. After you become acquainted with our service, we encourage you to confidently recommend us to others who will appreciate working with ethical, reliable professionals. Your friends will thank you and we will too!
SSIR Comprehensive Park City
Real Estate Market Update Website
Buying a home is no small decision, so the more statistical information you have during the process, the better. The choice, of course, is about more than just the house or condo itself; you want to make sure that the neighborhood is right for you and that the place is truly somewhere you can see yourself spending years.
Knowledge and experience is power and no one knows the local real estate market like Summit Sotheby’s International Realty. We track sales, inventory activity, and trends to provide perspective on the local housing market in our major mls areas. In a timely manner, data is derived straight from the Park City MLS and includes sales and active inventory, averages, medians, pending sales, listing price information, days on market and more. We use this data to create 60 second market update videos each month, a quarterly infographic to easily make comparisons, and in-depth quarterly and year-end market reports.
Summit Sotheby’s International Realty’s new website parkcitymarketupdate.com is a consolidation of all these videos, infographics and reports into one online resource.
1650 Captain Molly Drive Unit #339, Park City, Utah 84060 – Price: $500,000
2 Bedrooms | 2.5 Bathrooms | approx. 1,260 sf
This Park Avenue condo is in a great location, is in very good condition, and has radiant baseboard heating, and air conditioning. It is ready for a new owner’s personal touches. Easy access to Park City Mountain Resort for summer and winter sports, Park City Municipal Golf Course, and 19 kilometers of groomed trails for skiing. The common area features a clubhouse, pool, hot tub, and tennis courts. The building is on the bus route, and is close to everything Park City has to offer. Let us know if you’re interested!
Contact Jensen and Company for answers to real estate questions and help with Park City real estate. Let us be your resource for all things real estate!