What’s the three most important factors when buying real estate? Location, location, location. Whether you’re looking for a home, or a house to flip, short term investment property or long-term rental income, location is very important.
When it comes to looking for a place to call home, or shopping for a home away from home, Park City Utah is the place. This year-round resort town has a strong local economy and an abundance of local activities. An open, airy vibe is created by the surrounding mountain views. And, its very strong community feel makes it a desirable place to live for families, seniors, retirees, kids and singles.
About Park City Utah
Canyons Resort, Deer Valley Resort and Park City Mountain Resort are the city’s three local four-season resorts. Not only do they provide locals with powder snow skiing and world-class terrains, but they’re major employers in the Park City area. They also offer summer recreational activities for both locals and tourists, making them important summertime employers as well.
And, for off-mountain activity, Park City has plenty for the whole family. From Historic Main Street with its boutique shopping, gourmet dining and art galleries to holiday parades, summer concerts in the park, Olympic-sized ice rink and the Utah Olympic Sports Park, the town is always brimming with activity, and always a great place to live.
Benefits of Living in Park City Utah
Resort Living – Ever dreamed of living in a ski resort town? Well, that’s what it’s like living in Park City, Utah. Local homeowners reap the same benefits of resort-living. Yet, they get the same opportunities and conveniences of being residents of a major metropolis.
Exceptional Weather –“If you don’t like the weather, wait 5 minutes”, is an old local Park City saying. The city experiences an entire range of weather, which is one of the most striking things about living in Park City. Summer days are mild, usually below 90 degrees, with chilliness during summer nights. Winters come with more than enough snow to keep the slopes open and active, with temperatures only falling below 0 about twelves times annually.
Snowboarding and Skiing –This Summit County city is an important portion of the Wasatch back. Views created by the Wasatch Mountain Range are magnificent. Its peaks are as high as 12,000 feet, which help to create the “Greatest Snow on Earth.” Add that to the unique weather, and you have the perfect conditions for both snowboarding and skiing in Park City.
Owning a Home in Park City
Park City has ranked one of America’s wealthiest areas multiple times. This helps to keep the real estate values consistently increasing. It can be seen in the quality of the homes, as well as their styles, types and costs.
These are some of the advantages of buying local real estate to call Park City home:
- The city if close to the Salt Lake International Airport, making it convenient for homeowners who travel a lot.
- Park City’s home prices are quite affordable when you compare them to various world-class ski-resort cities in the US.
- Local residents are dedicated to keeping the open-space feel preserved: rural charm, trail systems, wildlife habitat, scenic views, etc…
This small town-like city was not a stranger to the recession. When the housing bubble burst, it experienced an overall 10% to 15% drop in home values from 2008 to 2009. By the second quarter of 2010, local home prices had stabilized. Since then, they’ve remained fairly stable, with sales volume inching up to 24% during the same time period in comparison to second quarter 2011.