Newsletter of the month May 17, 2024

May Newsletter

 
Hey there, and welcome to May in Park City!
 
As the weather heats up, I’m excited to share the latest updates with you.
 
First up, let’s chat about the newest market stats. Curious about what’s happening in our area? I’ve got all the details for you.
 
And guess what? Deer Valley’s Summer concert series is just around the corner! Trust me, you won’t want to miss out on the fun and music.
 
Feeling like getting informed? I’ve got some super informative real estate articles lined up for you. Whether you’re a pro or just starting out, there’s something here for everyone.
 
Now, let’s talk food. I’ve found the best outdoor dining spots in town, so get ready for some seriously delicious eats.
 
Need a new home or relocating? Just share your preferences, and I’ll find the perfect property for you, whether for lease or purchase.
 
So kick back, relax, and let’s make the most of May in Park City!
Above is a quick overview of April 2024 Stats for Single Family Homes in Park City Limits and Snyderville Basin.
Courtesy of Deer Valley
Spread out your blankets and enjoy breathtaking views accompanied by the world-class talent of the Utah Symphony as we perform with renowned guest artists and conductors for the 20th annual Deer Valley® Music Festival in Park City, Utah.
WHAT MORE LISTINGS MEAN WHEN YOU SELL YOUR HOUSE
The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right.
This is not your average dinner party! Park City’s Savor the Summit returns to historic Main Street for the largest dinner party in the state. On Saturday, June 22, 2024 at 6:00 p.m., a variety of restaurants will be serving their specialities to over 2,500 participants, al fresco, as the sun sets behind Main Street.
CROWN CHALET
For those who seek an unparalleled, ultra-private mountain retreat—introducing the Crown Chalet, a 10,870 square foot luxury estate located in the private community of Bald Eagle at Deer Valley Resort®. This exquisitely reimagined residence rests atop a ridge where it enjoys panoramic views of the surrounding mountains, valleys, and nearby waters of the Jordanelle Reservoir.
 
Perfectly centered between the newly expanded terrain and original ski territory of Deer Valley Resort®, this home’s premier location is rare—it boasts both lake and ski mountain views, plus the ability to ski directly from its doors to 14 Deer Valley® chair lifts (on groomed trails, no less).
NAVIGATING THE HOUSING MARKET: A SEASONAL PERSPECTIVE
The housing market exhibits notable seasonality trends that can significantly impact both buying and selling activities. While these trends can vary by area, some patterns can be generally observed across the United States. Understanding these trends and how they might affect the supply and demand of homes can help buyers find better deals, and sellers list their homes when demand is highest.
552 DEER VALLEY DRIVE, PARK CITY
$5,750,000
5  BEDS Separator 4 FULL & 1 HALF  BATHS Separator 3,845  SQFT
REQUEST A PRIVATE SHOWING
3279 AMERICAN SADDLER DRIVE, PARK CITY
$7,900,000
5  BEDS Separator 3 FULL & 2 HALF  BATHS Separator 5,729  SQFT
REQUEST A PRIVATE SHOWING
8979 UPPER LANDO LN, PARK CITY
$2,750,000
4  BEDS Separator 4  BATHS Separator 4,750  SQFT
REQUEST A PRIVATE SHOWING
5060 N 400 W, PARK CITY
$4,995,000
4  BEDS Separator 1 FULL & 1 HALF  BATHS Separator 3,370  SQFT
REQUEST A PRIVATE SHOWING
Golf May 17, 2024

Golf in The Wasatch Back

Golf in the Wasatch Back

All the details you need to plan your summer on the links!

As spring transitions into the eagerly awaited summer in our stunning mountain community, outdoor enthusiasts are gearing up for adventures. They’re prepping their bikes, dusting off camping gear and paddleboards, and tightening the laces on their hiking shoes for boundless backcountry escapades. With a plethora of outdoor activities available, the Wasatch Back truly delivers! Additionally, for those who prefer spending weekend afternoons on the links, the Intermountain West boasts a golf landscape featuring over a dozen world-renowned courses. These courses, situated within both public and private golf communities spread across a 35-mile radius, offer over 200 holes to keep you teed up and on par all summer long!

Welcome to this special edition newsletter from Majestic Park City. It’s our insider’s guide to all things golf, providing you with a shortcut from the office to the green! Enjoy this preview and feel free to reach out with any questions about the courses and surrounding communities. If you’re seeking property that offers the exclusivity of a golf course lifestyle, look no further. We are your experts on the Wasatch Back!

GREATER PARK CITY AREA

Public Courses

Click on course name for a link to its website

Park City Golf Club

1541 Thaynes Canyon Drive

  • 18-Hole municipal golf course
  • Open to the public
  • Eight-station driving range, two practice greens, and a putting green
  • Driving Range
  • Players must be at least 7 years of age to play, and at least 16 years of age to be a non-playing spectator. All players must have their own clubs
  • Tee time reservations up to 8 days in advance
  • 435-615-5800

Canyons Golf Course

Canyons Resort

  • 18-hole, par-70 course
  • 550 feet of elevation change
  • Designed by renowned course architects Gene and Casey Bates
  • Soft path features act as cart paths with playable terrain
  • Four sets of tees per hole
  • Hole 10 has a 297-foot elevation change from tee to green
  • Hole 18 has a true island green, 100% surrounded by the Willow Draw Stream
  • Course features seven par-3 holes

Mountain Dell Golf Course

I-80 Exit 134, Parley’s Canyon

  • 16 miles east of Salt Lake City and 18 miles from Park City
  • 6,000 feet above sea level, offer 36 holes of
  • 18-hole reservations only off the 1st tee M-W until noon and Th-Su and holidays until 4 p.m.
  • Driving Range
  • Open from dawn – dusk
  • Practice greens and chipping area
  • Motorized rental carts
  • Rental push carts
  • Adaptive cart – not on-site, please provide 24-hour notice

Homestead Golf Club

700 North Homestead Resort, Midway

  • Par 71 course
  • 6,669 yards from the back tees
  • Plays 4,778 yards from the forward tees
  • Golf course rating is 73.0 from the back tees and 68.2 from the forward
  • Open April 1-October 31st
  • Putting and chipping greens
  • Driving range
  • Club rentals
  • Pro shop offers golfing attire, shoes, clubs, and equipment for men, women, and children

Soldier Hollow

1370 West Soldier Hollow Ln, Midway

  • Championship, 36-hole complex
  • Soldier Hollow was a major venue during the 2002 Winter Olympics.
  • Two 18-hole courses named the Gold and Silver courses
  • The Gold Course is a mountain or foothills course with significant elevation change throughout the course and dramatic elevation changes within each hole.
  • The Silver Course is a par 72 composed of six par 5’s, six par 4’s and six par 3’s
  • Chipping, putting and driving ranges
  • Pro Shop

Wasatch Mountain Golf Course

975 West Golf Course Drive

  • Two 18-hole championship golf courses, the Mountain Course and the Lake Course
  • 6,000 square foot elevation
  • Consistently ranked as favorites among Utah golfers
  • Dress Code – Golf Attire – No Denim
  • 18 Holes – Par 72

Total Yardage:

  • 7041 – Back – 73.0 Rating
  • 5061 – Forward – 62.8 Rating
  • Designed by William H. Neff
  • Driving Range/Practice Areas – Full Grass
  • Full service pro shop, driving range, and restaurant

Private Courses and Clubs

Click on course name for a link to its website

Glenwild

..is rated the number one private golf course in the state, its 18-hole course meticulously designed by Tom Fazio.

Golf at Glenwild is a way of life. Their Golf Professionals provide exceptional training, programs, and host annual tournaments and signature golf events. It is a quiet enclave tucked away right as you enter the Park City area.

 

Glenwild offers a diverse mix of premium homes with a gorgeous and recently remodeled clubhouse, an active golf scene with summer programming, top-notch food and beverage program. Lots and homes available for sale.

Park Meadows

Home to 10 PGA Tour Champions® events, Park Meadows Country Club has since become the premier member-owned golf club in Park City — golfers of every skill level play where the champions have played. Recently named to the Top 10 Courses in Utah by Golf Digest magazine, Park Meadows has also named the “Best Private Course” in Utah by Salt Lake Magazine. The immaculate course is maintained by superintendent John Haynes, named PGA Utah Section Superintendent of the Year for Private Clubs throughout the state.

Promontory

…a City within a city. Promontory rewards those who have a deep-seated passion for one-of-a-kind golf experiences. Find your game at the award-winning Pete Dye Canyon Course or Painted Valley Golf Course — a Jack Nicklaus signature design. Golf Digest magazine ranked the Dye and Nicklaus courses #2 and #3 in Utah, respectively. Few other golf communities in Park City can offer a comparable experience.

Tuhaye

Tuhaye means “good land”, the views are jaw dropping in this neighborhood among the mountains and Jordanelle, and is amenity-rich with one of its key appeals being the Deer Valley on-mountain Tower Club, and a private dining experience on Park City’s Main Street. The Tuhaye golf course sits within the massive 10,000-acre Talisker Club residential development close to the Jordanelle Reservoir, and its eighteen Mark O’Meara-designed holes extend to an incredible 7,800 yards from the back markers. At an elevation of 7,000 feet above sea level, your golf ball will fly far in the thinner air so don’t be put off by the gargantuan overall length of this place, even with four of the par fours on the card measuring in excess of 500 yards.

Victory Ranch

Designed by Rees Jones, the 18 holes at Victory Ranch meander over 7,600 yards of high country with bent grass greens and fairways, bluegrass rough and tall fescue grass lining its boundaries. Named the #1 private course in Utah by Golfweek and among the best in the state by Golf Digest, this course challenges your game while dramatic views of the Jordanelle Reservoir and Uinta and Wasatch Mountains test your focus.

Red Ledges

..is a community centered around a Jack Nicklaus course roughly 30 minutes from the Park City community and beautifully tucked away in the hills of Heber Valley. With landscape and topography reminiscent of southern Utah, Red Ledges is a spectacular newer development rich in amenities and close enough to skiing and Park City that has had a rich appeal to many homebuyers. Big views and development amenities are geared toward families. Homes and lots available.

Wohali

Set between majestic rolling hills and a towering rock bluff sits a meticulously-designed golf enclave. Wohali will offer an unrivaled golf experience, whether you have a lifetime love of the game or are walking the fairways for the first time. Slated for completion in 2027 Wohali will feature a 19th hole on its Eagle course in the event your game ends in a tie. The Nest short course will appeal to generational families. Wohali will be a private resort community 20 minutes outside of Park City in the eastern part of Summit County.

Marcella Club by Tiger Woods

Marcella is honored to partner with 82-time PGA TOUR winner, Tiger Woods, and his golf course design firm, TGR Design, for their first mountain course design. The championship course will feature generous landing areas helping players to keep the ball in play while still challenging players with strategic choices and angles off the tee for the best opportunities to score. The greens will vary in size and contouring to reinforce the tee shot strategy, but with green surrounds mowed tight, players missing the green will be able to use their creativity to make interesting recoveries.

The partnership between Marcella Club and Tiger will be the premier golf experience in the Mountain West resulting in a championship course that will fully take advantage of the stunning Utah setting and be strategically designed to be playable for all.

Newsletter of the month April 4, 2024

April Newsletter

Welcome to April in Park City! 🌷
As the days grow longer and our landscape bursts into life, it’s an exciting time to be part of our vibrant community. I’m thrilled to be sharing some wonderful insights and opportunities with you!
Get ready to dive into the latest real estate market stats to stay in the know, find inspiration for delightful spring activities amidst our breathtaking surroundings, explore engaging real estate articles, discover an exciting development on the horizon, and peruse a curated selection of available homes.
Let’s embrace the beauty of the season together and dive into all the amazing experiences Park City has to offer this April!
 
Above is a quick overview of March 2024 stats for single-family homes in Park City Limits and Snyderville Basin. If you need more information about a specific neighborhood, feel free to reach out!
Park City shines in the spring, and there is plenty of time to ski during the springtime in Park City. The sun shines bright amidst clear blue skies, and the snow is still plentiful.
The Salt Lake City-Utah Committee for the Games announced Wednesday that it has identified 13 proposed venues as part of its bid to bring the 2034 Winter Olympics to Utah. According to a press release, the plan includes several existing venues. It also includes bringing new events in skiing and snowboarding big air closer to downtown Salt Lake.
WILDWOOD RESERVE
Wildwood Reserve, located just 30 minutes from downtown Park City and 15-minutes from the back side Deer Valley Gondola, is a new breed of private luxury mountain community. The premiere 96-homesites of the 2,500 Benloch Ranch area have been carved out as Wildwood Reserve for the most discerning owners. Homesites offer sweeping views of the Jordanelle Reservoir in foreground against a backdrop of the Wasatch Mountains. Amenities like a clubhouse and trails are planned, but not yet built, for the master community. Wildwood Reserve owners have a voice through the HOA and can participate in shaping the direction of the seven phase Benloch Ranch.
HOME SALES, PRICES SURGE AS SPRING BUYING SEASON STARTS
Existing-home sales jumped by nearly 10% in February, the largest monthly increase in a year, as home prices continued to soar, the National Association of REALTORS® reported Thursday. And with housing inventory rising in many markets, home buyers are finally finding more options.
6048 S PARK LANE LANE UNIT 67, PARK CITY
$1,495,000
2  BEDS Separator 2 FULL & 1 HALF  BATHS Separator 1,450  SQFT
REQUEST A PRIVATE SHOWING
9071 N JEREMY RD, PARK CITY
$2,599,000
6  BEDS Separator 3  BATHS Separator 3,891  SQFT
REQUEST A PRIVATE SHOWING
2970 ARABIAN DR, PARK CITY
$4,450,000
4  BEDS Separator 1 FULL & 1 HALF  BATHS Separator 4,127  SQFT
REQUEST A PRIVATE SHOWING
19 PROSPECTOR DR, PARK CITY
$3,400,000
5  BEDS Separator  BATH Separator 1,894  SQFT
REQUEST A PRIVATE SHOWING
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Newsletter of the month March 7, 2024

March Newsletter

Welcome to March in Park City, where the snow is still falling and the adventures never end! Let’s dive into this edition and explore all the exciting things happening in our community. From the latest real estate market statistics to recent snowfall totals and ski resort closing dates, there’s plenty to discover. Plus, indulge in insightful real estate articles, find out about Easter activities and delicious food ideas, stay updated with economic insights, and learn about the new development at Indi Ridge. And don’t forget to check out our available homes – your dream property could be waiting for you! Wishing you a joyful Easter and a delightful start to spring!
Snow showers today (Monday), especially this morning. Additional weak waves of energy could keep the threat of light snow going through Thursday of this week. We will dry out and warm up for the weekend. Next chances for snow looks to be middle of next week- forecaster: Evan Thayer.
Above is a quick overview of February 2023 Stats for Single Family Homes in Park City Limits and Snyderville Basin.
When are Utah ski resorts closing for the 2023/24 season? Check out this list of projected closing dates for ski resorts in Utah to help you plan the rest of your ski season and get those late-season turns in. All projected closing dates are subject to change at each resort’s discretion depending on the snow conditions and other factors.
WHY TODAY’S HOUSING SUPPLY IS A SWEET SPOT FOR SELLERS
Wondering if it still makes sense to sell your house right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why. An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown.
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.
INDI RIDGE AT TUHAYE GOLF CLUB
Artfully composed of metal, glass, earth and infinite sky, this rare collection of only 37 distinctive contemporary homes presents an elevated sense of Talisker Club luxury living. Designed by architect Cobus Van Den Berg and built by Big-D Signature with interiors by AMB Design, the low-maintenance, turnkey homes are perched high on a ridgeline embracing the natural theatrics of the Wasatch. The prime location is near the entrance of Tuhaye with easy access to both the Club and the town of Park City. And of course, ownership entitles you to all the benefits of Talisker Club’s unique four-club membership.
HOME SALES ARE HEATING UP AHEAD OF SPRING BUYING SEASON
Existing-home sales accelerated in January as home buyers shrugged off rising home prices—which surged to an all-time high—and took advantage of lower mortgage rates and moderately higher inventory, according to the National Association of REALTORS®.
2998 CANYON LINK DR, PARK CITY
$1,350,000
4  BED Separator 4  BATH Separator 2,349  SQFT
REQUEST A PRIVATE SHOWING
2752 W HIGH MOUNTAIN ROAD # 1001, PARK CITY
$3,600,000
3  BED Separator 3  BATH Separator 2,050  SQFT
8511 TRAILS DR, PARK CITY
$3,475,000
6  BED Separator 5  BATH Separator 5,424  SQFT
REQUEST A PRIVATE SHOWING
132 N 100 E, MIDWAY
4  BED Separator 4  BATH Separator 5,176  SQFT
List Price

$2,700,000

4159 MOOSE HOLLOW ROAD, PARK CITY
4  BED Separator 5  BATH Separator 5,113  SQFT
List Price

$3,495,000

Market Update February 27, 2024

Semi Annual Market Stats

I’m happy to bring you our latest Semi-Annual Market Stats Report, offering an insightful analysis of the real estate trends in Park City and its neighboring areas over the past six months.
 
Inside this detailed report, you’ll find essential statistical insights tailored to each of the five areas we cover. From the average sold price and days on market (DOM) to active listings and absorption rate, these key metrics provide valuable information for anyone interested in the local market.
 
As your trusted real estate advisor, I’m here to help you navigate these numbers and understand what they mean for your buying, selling, or investment decisions. Feel free to reach out if you have any questions or would like to discuss how these trends may impact your real estate goals.
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Newsletter of the month February 6, 2024

February Newsletter

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!
LOWER MORTGAGE RATES BOOST BUYER DEMAND
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.
I WOULD LIKE MORE INFORMATION
THE DRAMATIC IMPACT OF HOMEOWNERSHIP ON NET WORTH
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.
5 DOUBLE JACK CT, PARK CITY
$3,950,000
4  BED Separator 5  BATH Separator 4,287  SQFT
REQUEST A PRIVATE SHOWING
7301 N SAGE MEADOW RD, PARK CITY
$5,490,000
6  BED Separator 9  BATH Separator 8,820  SQFT
REQUEST A PRIVATE SHOWING
80 DALY AVE, PARK CITY
$5,900,000
6  BED Separator 7  BATH Separator 3,906  SQFT
REQUEST A PRIVATE SHOWING
891 CUTTER LANE, PARK CITY
5  BED Separator 4  BATH Separator 4,200  SQFT
List Price

$13,500 pm

1600 PINEBROOK BOULEVARD E#4, PARK CITY
3  BED Separator 2  BATH Separator 1,264  SQFT
List Price

$3,000 pm

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Market Update January 26, 2024

🏡✨ Our Quarterly Stats Report is here!

📊📈 Dive into the latest trends and insights from the local real estate market in Summit & Wasatch Counties. 🏞️🏠 Whether you’re a homeowner, potential buyer, or just love keeping up with market trends, these stats are a must-read.

January 2024 – After a two-plus yearlong real estate roller coaster, Park City Realtors are experiencing a market that many characterize as “closer to normal” than we have seen in recent quarters. Instead of focusing on post-Covid recovery, agents are more inclined to talk about a stable market with continuing moderate price appreciation and growing inventory.

The current market is probably being affected by higher interest rates and somewhat reduced inventory more than by any Covid hangover.

The inventory of available homes is approaching a healthy level having peaked in late summer at nearly 1,800 properties for sale. In the last full year before the Covid-crash, PCMLS averaged 2,100 listings each month. Sales prices have stabilized with single-family homes within Park City limits selling for slightly less than they did a year earlier and median prices in the Snyderville Basin are up just single digits year over year.

With inventories returning to a more normal level, and competition for available properties still running strong, market times and absorption rates (the length of time it would take to sell all current inventory based on the current rate of sales) are also remained steady.

Sales totals for single-family homes in Summit and Wasatch counties for all of 2023 were down just 2% from 2022. Prices remained steady to up slightly. The median home sale price in the PCMLS primary market area increased just 3% for the year ending 12/31/23 vs. the same period ending 12/31/22. The short term measure of quarterly median price increases presages to some the direction consumers might see for both sales prices and volume in the year ahead. But Park City is a highly seasonal market and many others point out that comparing one quarter to the next is not a valid predictor of a future trend.

This decrease in local market price volatility reflects trends seen elsewhere in the country, as business returns to a more seasonal pattern and extremes become scarcer. Mark Fleming, chief economist at First American Financial Corporation, predicts a “flat stretch” ahead for the housing market. “If the 2020-2021 housing market was too hot, then the 2023 market was probably too cold, but 2024 won’t yet be just right,” Fleming said in his 2024 forecast.

  • Inventory has improved greatly over the past two years. As of January 1, 2022, greater Park City posted 280 active residential listings. As of January 1, 2024, that number was 840 or a 200% increase. However, comparing this year to the pre-covid years (2012 – 2019) inventory remains lower by 25%.
  • The wild price swings that were prevalent the past couple of years have moderated. Average prices of single-family homes in Park City proper grew only 1% over last year. The median sale price for a single-family home in the city actually declined 5% to $3.7 million. 0020

In Summit and Wasatch Counties, the rate of sales (number of units sold) dropped 11% for single-family homes and 25% for condominiums from the full year prior. Sales declines across the region were attributed to fewer listings than demand could handle.

Park City is very much a community of neighborhoods. Prices and availability vary widely from one neighborhood to the next.

For single-family homes, four of the five major areas that make up the greater Park City market showed drops in units sold from 2022 to 2023. The exception was in the Snyderville Basin, where unit sales increased 4%. Within the central neighborhoods, Jeremy Ranch was the market leader in sales units, closing 34 sales, 42% more than last year.

Condo sales across the primary market range followed a pattern similar to single-family homes. Year-over-year sales units increased in Heber Valley and around the Jordanelle by 33% and 13% respectively. Closer in, condo unit sales in Park City and Snyderville dwindled, down 19% and 48% respectively.

Prices, however, were mixed across these two areas. Within the Park City limits, the median sale price rose 8% to $1.6 million. In the Snyderville Basin, the median sale price dipped just under $1 million, down 8%.

Comparing the 12 months ending December 31, 2023, to the same period ending in 2022:

  • Residential inventory (single-family and condo) year-to-date is showing signs of recovery after a lengthy period of declines. At the end of December 2022, there were just 738 residential listings for sale in the entire PCMLS coverage area. On December 31, 2023, that number had grown to 880, almost 20% more.
  • The market picked up some momentum heading into the last half of 2023. In the seven months from June thru December, PCMLS members signed 1,260 residential purchase contracts 20% more than the previous year (1,054).
  • With New Listings running slightly higher than Pending contracts, inventory is being replaced faster than it is selling. For the year ending 12/31/23, 2,915 listings were added to the system. For the same period only 2,031 were put under contract. That’s 884 more listings added than contracts written, which hasn’t been seen in quite some time.

 

 

Town events January 19, 2024

SUNDANCE FILM FESTIVAL IS HERE!

 

The Sundance Film Festival is back in town, celebrating its 40th anniversary. Hard to believe that this year marks four decades of the massively influential festival! Things kick off on January 18th, followed by ten days of outstanding films, music, panel discussions, and more.
THIS YEAR’S BUZZThe 2024 Sundance film lineup is outstanding. Here are a few films that have received a lot of early buzz.
Love Me  |  Directed by Sam & Andy Zuchero
Starring Kristen Stewart and Steven Yeun
, this film follows the story of a buoy and a satellite that meet online and fall in love long after humanity’s extinction.
Hit Man | Directed by Richard Linklater. Starring Glen Powell and Adria Arjona, this feature is based on the real-life story of a mild-mannered professor with a side job posing as an undercover hitman for the New Orleans police. Things get even more complicated when he falls for a woman who is attempting to escape an abusive boyfriend.

The Outrun | Directed by Nora Fingscheidt. Starring Saoirse Ronan, this adaptation of Amy Liptrot’s memoir follows a troubled alcoholic who returns to her windswept hometown in the Scottish Isles to heal.

Presence | Directed by Steven SoderberghStarring Lucy Liu, Julia Fox, and Chris Sullivan. Acclaimed director Steve Soderbergh takes a turn in the haunted house genre, with this horrific tale about a family terrorized by an unseen entity.

A Real Pain | Directed by Jesse Eisenberg. Starring Jesse Eisenberg and Kieran Culkin, this dramatic comedy follows the story of two mismatched cousins who embark on a journey to Poland to learn more about their grandmother following her death.

Didi | Directed by Sean Wang. Starring Izaac Wang, Joan Chen, Shirley Chen, and Chang Li Hua. This directorial debut by Sean Wang about a preteen Taiwanese-American boy is being described as “a moving love letter to immigrant parents and a playful examination of our uncertain paths to adulthood”.

Between The Temples  | Directed by Nathan Silver. Starring Jason Schwartzman and Carol Kane, this irreverent comedy follows a cantor who is in the midst of a crisis of faith, further complicated when his former grade school music teacher returns as his adult bat mitzvah student.

Will & Harper  | Directed by Josh Greenbaum. This documentary features Will Ferrell as he discovers that his best friend of over three decades is coming out as a trans woman. The film follows the two on a cross-country road trip full of sweet, heartfelt, and comedic moments.

BEYOND THE BIG SCREENDiscover other ways to immerse yourself in the Sundance spirit, from dynamic panels and music events to exclusive parties and at-home film experiences.

How to Watch Online  

9 Big Films You Can Watch Online
by Decider

Sundance Events, Panels & Parties
by the Hollywood Reporter

FESTIVAL GUIDESCheck out the Park City Community Guidefor Sundance, which provides information about:

  • Accessibility
  • Alternate Modes of Transportation
  • Street Restrictions
  • Parking (Free, Permit, and Paid)

Access the full Festival lineup with the Sundance Printable Program.

FREE PARKING WITH TRANSIT

Richardson Flat Park-and-Ride offers free parking with free transit every 20 minutes to and from Old Town, from 5:30 am-2:05 am, January 18-27. The last bus to Richardson Flat leaves the Old Town Transit Center at 2:05 am.

Deer Valley Resort will allow the use of Parking Lots 5 and 6 outside of resort hours (5pm-1am daily) during the Festival, January 18-28.

Park City Mountain Village will allow the use of their parking lots outside resort hours (5pm-1am daily) during the Festival. Free Park City Transit connects the resort to the Old Town Transit Center, from where you can walk or transfer buses.
DINING DURING SUNDANCE

Although several restaurants might be closed for exclusive gatherings, most others will continue their regular operating hours to accommodate both residents and tourists. For a comprehensive guide to dining options, visit the Park City Restaurant Association for the latest details on operating hours during the festival.

More Info!

Newsletter of the month January 11, 2024

January Newsletter

With the promise of new beginnings in the air, I’m thrilled to present a curated blend of content to kickstart your year. In this issue, dive into the latest real estate market statistics, peek into what Sundance 2024 has in store, celebrate Deer Valley Resort’s prestigious #1 world ranking, explore the captivating charm of the Sommet Blanc Development, read informative real estate articles, and explore a curated selection of real estate listings. May the new year bring you prosperity and exciting possibilities!
Above is a quick overview of December 2023 Stats for Single Family Homes in Park City Limits.
WHAT’S MY HOUSE WORTH?
Sundance Film Festival is celebrating 40 years!
Come this January 18–28 to the 2024 Sundance Film Festival to celebrate independent storytelling. This year’s Festival experience is yours to create. See films on the mountain in beautiful Utah and/or watch from home with on-demand online viewing — the choice is yours.
HOME SALES START TO RISE, BUILDING MOMENTUM FOR 2024
A recent surge in construction of single-family homes could offer more opportunities for home buyers in the new year. The National Association of REALTORS® reported that existing-home sales, which are completed transactions for single-family homes, townhomes, condos and co-ops, rose 0.8% in November.
Deer Valley Resort is ranked as the world’s #1 Ski Resort by Travel + Leisure in their annual ‘20 Best Ski Resorts Around the World‘ list. Park City Mountain also features on the list, securing the 9th spot. Travel + Leisure compiled its ’20 Best Ski Resorts’ list by sourcing recommendations from its editors and contributors for top ski and snowboard destinations.
SOMMÉT BLANC
Coming soon to the final parcel of this exclusive enclave is a rare combination of easy ski access, a serene mountain setting, stunning ski slope views, outstanding amenities, and sophisticated mountain modern design. Sommét Blanc offers a unique opportunity of elevated alpine luxury living. Sommét Blanc includes three alpine lodges, comprised of 49 luxury Residences and Penthouses located on the last, best, ski-in/ski-out parcel in Empire Pass at Deer Valley® Resort. Sommét Blanc features an extensive list of amenities that provide for year-round fun for the entire family. This collection of amenities and services includes an arrival lobby and fireside lounge with concierge desk, valet parking, on-site restaurant & bar with ski beach patio, slopeside pool & patio with multiple hot tubs and outdoor gathering spaces, pool locker rooms with saunas, spa treatment rooms and relaxation lounge, fitness center, yoga studio, a bowling alley with arcade, executive boardroom, guest office, spacious ski locker room, ski valet service, après-ski lounge with expansive outdoor patio, children’s activity playroom, golf simulators, speakeasy styled owner’s lounge, and designated underground parking in each building featuring adjacent oversized storage units with each owner space ready for an electric car charger installation.
I WOULD LIKE MORE INFORMATION
THE SURPRISING TREND IN THE NUMBER OF HOMES COMING ONTO THE MARKET
If you’re thinking about moving, it’s important to know what’s happening in the housing market. Here’s an update on the supply of homes currently for sale. Whether you’re buying or selling, the number of homes in your area is something you should pay attention to.
1459 CRESCENT RD 127, PARK CITY
$2,150,000
3  BED Separator 4  BATH Separator 1,554  SQFT
REQUEST A PRIVATE SHOWING
3332 SOLAMERE DR, PARK CITY
$9,495,000
5  BED Separator 6  BATH Separator 6,580  SQFT
REQUEST A PRIVATE SHOWING
E, PARK CITY
$24,900,000
4  BED Separator 8  BATH Separator 8,000  SQFT
REQUEST A PRIVATE SHOWING
List Price

$14,000 pm

836 E CANYON GATE ROAD, PARK CITY
5  BED Separator 5  BATH Separator 4,763  SQFT
 

 

 

 

January Events in Majestic Park cityUncategorized January 11, 2024

January Events in Majestic Park City

Deer Valley Cooking Classes
Person attending a cooking class at Deer Valley Resort.
PASTA MAKING

Discover the art of crafting exquisite homemade pasta in this guided class. Dive into the fundamentals of crafting a traditional pasta dough using simple ingredients like flour, eggs, and oil. Through hands-on instruction, master the essential techniques for crafting gourmet Italian delicacies entirely from scratch.

January 13, 2024 January 14, 2024

WINTER FLORAL ARRANGEMENT

In partnership with Galleria Floral and Design, join us to learn the artistry of floral design. Craft your very own custom winter greenery floral arrangement, bringing to life the beauty of fresh flowers and lush greens. You’ll explore art concepts, showcase inspiring examples, and let you dive hands-on into the creation process, crafting arrangements that exude vibrant cheerfulness. Unleash your inner artist and let your creativity bloom in this captivating floral class!

January 20, 2024 January 21, 2024

TURKEY CHILI & CROCK POT SECRETS

Join our culinary maestros and learn the ropes of crafting Deer Valley’s legendary Turkey Chili from scratch. As the aroma fills the air, you’ll become a chili champion ready to warm hearts and taste buds. This is a heavily guarded resort recipe that is only shared in full during this class!

January 27, 2024 January 28, 2024

Live Music & AprÈs at Goldener Hirsch

  • Date: December 22, 2023 – January 20, 2024
  • Time: 5:00 PM to 8:00 PM
  • Après 
  • Date: December 2, 2023 – March 31, 2024
  • Time: 2:00 PM to 4:30 PM

Silver Sky Nights at the Canyons Village

Friday, January 12, 2024: 

  • 4:00 – 6:00 p.m.: Live Music on the Forum Stage
  • 6:00 p.m.: Fireworks
  • Live ice carving demonstration by Iceworks 
  • Sundance Film Festival

    • Date: January 18, 2024 – January 28, 2024
    • Price: See www.sundance.org for details.