From the Desk of Brad Jensen
Park City Utah | Real Estate Newsletter | July 2017
Dear Park City,
November is the month of gratitude. I am grateful to live in such a beautiful place and to have a great career with fabulous clients. I am particularly grateful for my good health, my beautiful family and great friends.
Park City is truly a wonderful place to live. I would like to thank each and every one of you who read my newsletter with a special THANK YOU to my clients who have helped to make this all possible. I love being able to live and work in Park City. I enjoy the mountains and the seasons. I hope that all of you do as well.
November is also a transitional month. We are deep into the fall season now and there is snow on the ground at higher elevations. The resorts will be opening soon and it will be ski season once again. I am looking forward to seeing you all on the slopes. If you would like to take some runs please reach out to me. Nothing could be better than to make some good turns with friends.
I wish you all a very Happy Thanksgiving! And a Joyous Ski Season!
New Ski Resort Village in Deer Valley’s Future?
A New York City firm has acquired more than 2,300 acres of land in Wasatch County next to Deer Valley Resort, a deal expected to hasten development on ground that has for decades been seen as a prime location for a large project.
Extell Development Company acquired the land from two firms under the corporate umbrella of the Netherlands-based Stichting Mayflower. The acreage is on the Deer Valley Resort side of U.S. 40 at the Mayflower exit. It is just south of Deer Valley’s Jordanelle Express Gondola.
When the Mayflower land was put on the market, in the spring of 2014, it was publicized the acreage may have Wasatch County development rights involving approximately 2,400 units. A precise number was not available at the time. A co-listing agent at the time said the development rights included several hotels, houses and condominiums. A golf course was said to be possible.
The property was listed without a price in 2014. The acquisition price was not publicized. Extell Development Company also holds a 40-acre piece of land, known as the Blue Ledge parcel, north of Mayflower, according to the firm. The two properties combined are “anticipated to provide an unparalleled platform for a new resort village and ski improvements,” a release from Extell Development Company says.
“The combination of these two prime parcels, in close proximity to the Deer Valley Resort and the Jordanelle State Park recreational area, offers a unique opportunity to create a year-round master-planned luxury resort destination, including, and perhaps, most importantly a new ski portal and alpine village,” Van Hemeyer, the firm’s vice president of acquisitions, said in a prepared statement.
An Extell Development Company release said the firm is in discussions with Deer Valley about upgrades to the resort. It says the plans call for adding more than 1,000 acres of skiing terrain and unspecified mountain recreation land.
Please contact Brad if you would like to know more about how this development could affect the Greater Park City Real Estate Market.
When comparing real estate brokerages, it can be easy to assume that all of us are the same. From community involvement and philanthropy, to a brand heritage dating back 273 years, Summit Sotheby’s International Realty is about redefining real estate – inspiring us to continually push boundaries, innovate and differentiate. For your consideration, we’ve identified the top 10 reasons why we’re different, items we call our “passion points”. These passion points, paired with our defining of luxury as an experience, not a price point, is exactly why Summit Sotheby’s International Realty is like no other.
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Current Inventory in Park City
- Properties for Sale – 331
- Average Days on Market – 168
- Minimum Asking Price – $500,000
- Median Asking Price – $2,500,000
- Average Asking Price – $3,673,920
- Properties for Sale – 286
- Average Days on Market – 226
- Minimum Asking Price – $114,500
- Median Asking Price – $1,300,000
- Average Asking Price – $1,650,327
- Properties for Sale – 211
- Average Days on Market – 263
- Minimum Asking Price – $63,900
- Median Asking Price – $675,000
- Average Asking Price – $1,064,283
Market data from: PCMLSPark City & Snyderville Basin areas
Current Inventory in Jordanelle
- Properties for Sale – 23
- Average Days on Market – 116
- Minimum Asking Price – $584,900
- Median Asking Price – $1,595,000
- Average Asking Price – $1,924,643
- Properties for Sale – 47
- Average Days on Market – 98
- Minimum Asking Price – $310,000
- Median Asking Price – $518,900
- Average Asking Price – $550,814
- Properties for Sale – 105
- Average Days on Market – 252
- Minimum Asking Price – $135,000
- Median Asking Price – $369,000
- Average Asking Price – $445,116
Market data from: PCMLSJordanelle Area
No matter where you are in the real estate process of buying or selling, understanding the real estate trends is essential to your success in the local housing market. 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.
439 Ontario Avenue, Park City, Utah 84060
3 BEDS | 2 BATHS | Approx. 1,894 SF
OFFERED AT $1,300,000
Excellent opportunity to own in Old Town in a great location with easy access to Main Street, restaurants, shops and transit center. This home is in excellent condition with room for the entire family. Beautiful fit and finish includes natural stone and hardwood, granite counter tops and top shelf appliances. Great for primary residence, second home or investment. Enjoy all four seasons in this charming Old Town home.