We are experiencing our first significant snow fall of the season…getting about 4 inches today and another 2 to 4 inches expected over the next 24 hours. Let’s hope this winter will pick up where last season left off!!!
As the local golf courses close for the season, the real estate market continues to bump along at the same pace as it has for the last few months—which is good for this time of year considering the economic conditions.
In the past 10 ten days we have seen a daily average of 9 new properties come on the market, 10 listings experience a price change on a daily basis, 3.5 go under contract, and an average of 3.6 close per day. Notables are:
NEW:
-Stag Lodge unit in Deer Valley at $2.995m; 4bd/5ba; 3320 sq ft; $902psf…seems like a high ppsf number to shoot for.
-Lodges at Bear Hollow unit at $349,000; 3bd/2ba; 1328 sq ft; $262psf…not a bad deal.
-Glenwild lot at $449,000 for over an acre
-Promontory home at $819,000!!! 5bd/7ba; 4000 sq ft; $205psf….screamin’ deal if you like Promontory!
-Tuhaye lot at $650,000—look for our notes below on the golf course property activity
PENDING:
-Black Bear Lodge in Upper Deer Valley at Silver Lake for $599,000; 1076 sq ft; 2bd/2ba; $558psf…sweet deal with great amenities and very close to skiing.
-Bellearbor in Deer Valley at $2,900,000; 4bd/5ba; 4030 sq ft; $719psf
-Promontory Golf Cabin at $1.65m; 4bd/6ba; $264psf…good deal for this Buyer!
CLOSED:
-April Mountain townhome for $1.19m; 5bd/4ba; 3420 sq ft; $347psf
-Promontory home at $800,000; 5bd/6ba; 7270 sq ft; $110psf…another deal—those seem to be what is driving the market and we need to clear the glut before we can establish a real “new normal”.
-Tuhaye lot at $410,000…they are seeing some nice end of season activity out there.
With golf season wrapping up, the golf course developments in Park City have seen some nice activity this summer and fall! A few high notes are:
-Since July 1, 2009 Tuhaye has seen: 15 homesites closed, 2 homesites pending, 3 reservations (on new release not yet recorded and able to close) in Whispering Hawk—-$275,000 price point! This June Robb Report named Talisker Club “Best of the Best” for Mountain Resort Community, in their annual issue.
-Glenwild seeing 4 lots and 1 home close in the past month.
-Promontory seeing 15 lots close, 1 lot under contract, 10 homes close, and 3 homes under contract since July 1, 2009…the price points are way down (as you can see from the activity report above), but we are clearing that glut away!
Things to Consider...
Related posts:
- Sliding into 2009, and awaiting Promontory hearings
- A post-Sundance update
- Market trends continue to stay the same and Lodging Company’s are the talk of the town.
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