We are finally enjoying a nice Spring! Not that we complained about the 14 feet of snow we got at the end of March and early April….whoa, that was fun stuff!. It is great to see the sun again in Park City though. We are still waiting for the season end ski reports, but the early indications are skier days are down a little while spending was down a lot…shocker, huh?!?!
As for the market, over the past 10 days we are seeing an average on 13 properties come on the market per day, 10.4 have a change in price, 2 properties close escrow, and 3.4 go under contract. That is not too bad for this time of year….however, the number of properties coming on the market is still piling up! If we are to recover as soon as everyone thinks (I am not on that bandwagon…more bearish on the PC market for the next year), the glut of inventory coming to the marketplace needs to slow. On another note, putting 3.4 properties under contract per day is good for this time of year. As you would expect, the good deals are selling and the properties with price points that reflect a 2007 market are collecting dusk.
Here are a few high points:
ACTIVE:
-Park Ave condo at $369,000; 3bd/2ba, 971 sq ft, $380psf…not a steal, but good location.
-Old Ranch Rd home at $1.85m; 5bd/5ba, 6509 sq ft, $284psf…great ppsf!
-Glenwild lot at $995,000
-Mountain Ranch Estates home at $1.525m; 6bd/6ba, 5529 sq ft, $275psf….good deal here too.
PENDING:
-2 units at Silver Star. Ski in/ski out Park City Mountain Resort; both 4bd/5ba, 2500 sq ft, $2.45m and $1.799m…somebody found a good deal.
-Park Ave home in Old Town Park City at $998,000; 3bd/3ba, 1732 sq ft, $576psf.
-Fawngrove unit in Lower Deer Valley at $825,000; 3bd/2ba, 2200 sq ft, $375 psf
-Promontory home at $1.195m; 4bd/5ba, 4659 sq ft, $256psf….a short sale and a good deal!
SOLD:
-Old Town home on Park Ave at $1.325m; 5bd/5ba, 4382 sq ft, $302psf, and they were asking $1.65m (20% off asking)
-Deer Lake Village in Deer Valley at $854,000; 4bd/4ba, 2147 sq ft, $397psf, and asking $949,000 (11% off asking)
-Bear Hollow townhome at $450,000; 4bd/4ba, 2128 sq ft, $211psf, asking $490,000 (9% off asking)
Things to Consider...
Related posts:
- Another fabulous Park City summer and some real estate activity on the side
- Park City market relatively active, but inventory is piling up…Countdown to Promontory auction too!
- Park City market update and Summer is creepin’ in!
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