Park City Real Estate Sales mid-Ski Season

By Todd Anderson

Feb 15, 2012

The 2011-2012 ski season is half over; hard to believe, but it is true. It is a great time to check on real estate sales in Park City as well as a time to remind yourself to get out and ski before you start thinking about summer related activities. So far this season the lack of snowfall hasn’t impacted Park City real estate sales. The December through mid-February period equating to half of the winter season shows sale numbers about on par with the same period in 2010-2011 even though the snow depth has been less than half of last season. Current trends still show pricing down (about 4% on single family homes and 10% on condominiums). Unit sales of homes and condominiums are nearly identical for the periods while building lots are off nearly 40% for the period. The drop in vacant lot sales appears to have been impacted by the drop in bank REO offerings which represented 25% of the sales last year and only 5% of the vacant lot sales this season so far.

Other interesting trends for the current ski season real estate sales include:

Fewer sales of condominiums over $1M and half as many sales of Park City area condominiums in the luxury category (over $2M) compared to the previous season.

Park City Single family home sales remain steady across all market levels including the luxury segment over $2M.

Bank REO sales were down dramatically for the compared seasons, but look for that to change as the MERS issues are cleared nationally.

Canyons Resort real estate is showing stronger condominium sales, but weaker single family home sales.

Data herein is derived from the Park City MLS system for sales in the greater Park City areas (areas 1-23). Data is deemed reliable but not guaranteed. For specifics about any Park City real estate neighborhood contact a realty professional with the YouInParkCity.com group at (888)968-4672.

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Tags: condominium sales, Home Sales, Luxury, Park City real estate, season, Ski
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Season Ski Pass Sales at Park City Resorts

By Todd Anderson

Sep 26, 2010

Lift ticket prices and season pass pricing for Park City's three ski resorts have been announced. Season pass changes have been made at Park City Mountain Resort and Canyons while Deer Valley has stayed relatively the same as last year. Canyons has seen the most significant season pass offerings change and now offers 3 adult pass options starting at $999 (prior to Oct. 15). Passes will include on mountain perks for the pass holders including:

Complimentary day tickets
The ability to purchase buddy passes for $59
Complimentary Lodging nights
Rental and retail discounts
Complimentary ski lessons
Complimentary Meals
Summer Lift Privileges
And More

Mid-week passes (good every day but Saturdays) start at $799. Young adult passes (18-25 yrs and Utah college students) start at $449. Utah student passes (7-12 yrs) start at $179 with ages 13-17 able to buy a season pass for $209 (for honor roll students). Coupon books can offer daily tickets at under $45 per day. Canyons Resort has many different season pass offerings go to: http://www.thecanyons.com/seasonpass2010.html to view them, and make sure you do so before Oct 15^th. Park City Mountain Resort season pass pricing this year starts at $699. Pricing at Park Mountain Resort has stripped the extras like night skiing, free parking and express lift access (Fast Trax) which can be added back to the pass for $200 per benefit. Young adult/college student passes start at $450. Teen season passes start at $175 while youth passes start at $125. Utah resident or property owner coupon books get daily passes down to $54 per day. As with Canyons Resort, Park City Mountain offers many pass options, to see which is best for you go to: http://www.parkcitymountain.com/winter/tickets/season_passes . park City Mountain resort season pass prices go up after Oct 31. Deer Valley Season passes are $1630 for an adult pass, with a second pass (same family) for $1320. Teen passes are $675 and midweek adult passes (good Mon.-Fri. except Christmas -New Year's week) are $830. Locals coupon books get daily ticket options down to $51 per day. For more info go to: http://www.deervalley.com/activities_skiing/skiing/lift_tickets.html make sure to purchase before October 31^st.

Tags: canyons, Deer Valley, Park City, season, Ski Passes
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Park City and Deer Valley real estate sales for Q2 2009

By Todd Anderson

Jul 11, 2009

With the end of June came what is considered summer here in Park City after an unusually wet spring "mud-season". The end of June also marks the end of the 2^nd quarter and time for a Park City and Deer Valley real estate market update. The Park City and Deer Valley home and condominium sales for the quarter show that the market has slowed, but probably not as much as people think. For comparison purposes, we will look only at areas 1-22 for the Park City MLS which includes the Park City neighborhoods of: Old Town, Thaynes, Lower Deer Valley, Deer Crest, Upper Deer Valley, Empire Canyon, The Aerie, Prospector, Park Meadows, The Canyons, Olympic Park, Silver Springs, Old Ranch Road, Kimball Junction, Pinebrook, Summit Park, Jeremy ranch, Silver Creek/Glenwild, Trailside park and Promontory. Our data for comparison will be limited to single family homes, condominiums and vacant land. Sales data for Park City real estate for the quarter are as follows: 120 total units sold for the quarter with 55 being single family homes, 56 being condominiums, and 9 parcels of vacant land or building lots. These numbers represent a drop in total sales volume of 44% versus 2008 and 67% versus 2007. The drop in dollar volume versus 2008 was 58% and 74% when compared to 2007 sales. The lack of new product has a very pronounced effect on the condominium data; look for these numbers to turn around dramatically in the next two quarters as we see the St. Regis at Deer Crest and Dakota Mountain Lodge sales recorded. The YouInparkcity.com group feels that of particular interest is the relation of the actual sales price versus the original and asking prices at the time of sale: sales prices were discounted 10% versus asking price and 19% versus the original price for the quarter. Of course the relatively small sample size we are dealing with can skew these numbers. For more information or data regarding a certain segment of the Park City and Deer Valley real estate market contact us or call (888) 968-4672. Areas we feel may be of particular interest statistically include Promontory and Empire Pass.

Tags: 2009, condominiums, Deer Crest, Deer Valley, Empire Pass, homes, neighborhood, Park City, prices, Promontory, Real Estate, sales, season, sold, st. regis
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