Over the past few days we have seen 50 properties come on the market, 21 go under contract, and 23 close escrow. Of note are:
ACTIVE:
-Greyhawk unit on Deer Valley Dr at $439,000; 2bd/2ba, 1027 sq ft, $427psf….not a bad deal for a vacation rental.
-Hidden Meadows home in Deer Valley at $5.995m; 8bd/8ba, 8300 sq ft, $722psf…a little steep, but the Deer Valley area is performing well in a flat market.
-Chateaux at Silver Lake for $1.85m; 3bd/4ba, 1889 sq ft, $979psf….they are asking a good bit psf.
-Back Bear Lodge unit at $850,000 in Deer Valley; 2bd/3ba, 1502 sq ft, $565psf…a great condo for rentals/investment and owner usage! Compare the ppsf to the Chateaux which is located next door….both have great ski access too!!!
-Arrowleaf unit in Deer Valley’s Empire Pass at $2.39m; 3bd/3ba, 1838 sq ft, $1300psf.
-Promontory home in West Hills for $2.69m; 6bd/6ba, 5717 sq ft, $471psf….under $500psf is always a good deal.
-Promontory lot in West Hills with plans, and golf membership for $595,000! Best deal out there!
PRICE CHANGE:
-Deer Crest home down $1m to $6.9m; 6bd/9ba, 12477 sq ft, $533psf….at that ppsf they must be motivated!
-Shooting Star unit at Deer Valley’s Empire Pass down $100,000 to $1.682m; 2bd/3ba, 1461 sq ft, $1151psf.
-April Mtn home down $100k to $1.599m; 5bd/3ba, 3420 sq ft, $467psf…if they get a little more motivated this will be a great deal!
UNDER CONTRACT:
-Greyhawk unit on Deer Valley Dr at $500,000; 2bd/3ba, 1296 sq ft, $385psf!
-Park Meadows lot $1.195m….good to see high-end land move.
-Promontory home at $1.599m; 4bd/5ba, 4306 sq ft, $371psf! A great deal…and that is the second home in 2 weeks to go under contract at Promontory! Even with the bankruptcy people are still buying…my thoughts are that the people who are educated and see where this is going will make some good money a few years down the line.
CLOSED:
-Hidden Meadows home in Deer Valley at $1.9m; 5bd/5ba, 4752 sq ft, $400psf….good deal for that buyer!
-Another Deer Valley home at $2.05m; 5bd/6ba, 4960 sq ft, $413psf….Deer Valley is moving.
-Sky Lodge one-eighth ownership for $228,000….these are drifting downward!
-Tuhaye lot at $395,152…a little land moving.
-Old Town home at $1.93m; 4bd/4ba, 2389 sq ft., $807psf.
-Quarry Mtn Ranch lot at $1.425m…again some activity in land.
In other news:
-The Park City Council on Thursday approved a contract to build a small park in Old Town, advancing the local government’s longstanding efforts to provide gathering places in neighborhoods. The elected officials agreed to spend $121,913 on the park, which will be built between Main Street, Hillside Avenue and Sandridge Avenue. Matt Twombly, who designs parks for City Hall, says it will cover about a half an acre and the land abuts Poison Creek on its eastern border….Neighborhood parks are always a plus.
-The Park City construction industry through the end of the summer remained behind the record pace of 2007, the city’s Building Department reports, making it less likely another standard will be set this year. According to the Building Department, the industry had tallied about $128.6 million by the end of August. The figure trails the approximately $163.4 million that had been recorded through the same period in 2007….2008 is off about 20%.
-About 21 acres of open space near State Road 224 will remain as open space now that Summit County has purchased the parcel for $5 million….I was actually looking into this parcel and the numbers would not work for a development. Nice to see it will remain open!
Things to Consider...
Related posts:
- Mid November ParkCityWire Market Update
- Pre-Turkey-Day ParkCityWire Market Update
- Boring Debate Last Night…Exciting Market Update Tonight
Related posts brought to you by Yet Another Related Posts Plugin.
Tags: deer valley, development, glenwild, greyhawk, homes, lots, market update, old town, open space, park city, parkcitywire, promontory, real estate, Rob and Rachel, state road 224, summit county, talisker, tuhaye, utah
