As February sweeps over Park City with its snowy embrace, I’m excited to bring you another edition filled with valuable insights and local delights. In this issue, uncover the latest real estate market stats, discover the best activities to enjoy in Park City this February, delve into informative real estate articles, find the perfect spot for Valentine’s Day celebrations, stay informed with economic updates, and explore a curated collection of real estate listings. Wishing you a month filled with love, joy and warmth!
Above is a quick overview of January 2023 Stats for Single Family Homes in Park City Limits.
Experience the magic of February in Park City! Jam out to live music at the Egyptian Theatre or embrace winter with Nordic skiing and snowshoe tours. Don’t miss out on dog sledding with Rancho Luna Lobos or classic ice skating fun. Come create unforgettable memories with us this February in Park City!
A more optimistic rate outlook among consumers may signal an expectation that home affordability pressures will ease in 2024,” says Mark Palim, deputy chief economist at Fannie Mae. “Homeowners have told us repeatedly of late that high mortgage rates are the top reason why it’s both a bad time to buy and sell a home. So, a more positive mortgage rate outlook may incent some to list their homes for sale, helping increase the supply of existing homes in the new year.
What’s more romantic than Valentine’s Day spent in the mountains? A day on the slopes and some time at the spa before dinner out on the town. There are many Park City area restaurants offering Valentine’s Day specials. Choose between three or four-course prix fixe menus or, if you prefer, snag a reservation at your favorite Park City restaurant.
DEER VALLEY REVEALS PLANS FOR NEWLY ACQUIRED TERRAIN
Photo: TownLift
Following Deer Valley Resort’s 2023 acquisition of Mayflower Resort, Deer Valley has recently announced the new name and the plans for the base village and ski portal on it’s newly acquired terrain. The brand new ski facilities will be called the Deer Valley East Village, and will be located along highway U.S. 40 headed southbound to Heber City.
This facility will house ski school, children’s programs, rentals, retail, and dining choices. The addition of 1,200 new parking spaces exclusively for day-skiers is geared towards enhancing accessibility for the resort and playing a role in easing traffic in Park City. Deer Valley East Village is situated at the base of a significant terrain expansion, where Deer Valley plans to introduce more than 3,700 acres of new ski terrain.
This will include 16 new chairlifts, featuring a ten passenger gondola, and will offer ski access across four new peaks, connecting the existing terrain with the newly added Deer Valley terrain. The rollout of the new terrain will occur over multiple seasons, with the majority opening in the 2025/2026 winter season. Upon completion, Deer Valley will consist of over 5,726 acres of skiable terrain, accessible via 37 chairlifts serving 238 ski runs.
If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s.
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