number of properties sold - RealCove
Market Update
2013: A Year to Remember in Park City Real Estate The 2013 Park City MLS statistics were just released and the details are outstanding for both buyers and sellers. Sales volume, properties sold and average sold price have steadily climbed each year since 2009 and inventory remains historically low. Yet pricing in parts of our market are well below the peak prices of 2007. The Park City market remains extremely complex and segmented. For instance, average Old Town and Upper Deer Valley home prices increased over 30% in 2013, while homes in neighboring Lower Deer Valley saw a decrease in average price.
Number of ProPerties sold
All Classes, All Areas - Year by Year Since 2004 4,500 4,000 3,500 3,000 2,500 2,000 1,500
4,028
2,812
2,452
1,341
1,130
1,421
1,662
1,814
2,230
500
3,045
1,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
total dollar Volume of sold ProPerties All Classes, All Areas - Year by Year Since 2004
$2,500,000,000
$2,000,000,000
$1,500,000,000
$2,128,923,506
$1,925,502,480
$2,034,191,083
$1,033,059,185
$867,230,118
$1,009,582,720
$1,077,426,368
$1,235,284,128
$1,521,765,768
$500,000,000
$1,244,496,656
$1,000,000,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
aVerage Price of sold ProPerties All Classes, All Areas - Year by Year Since 2004
$900,000 $800,000 $700,000 $600,000 $500,000
Avg. $829,605
Avg. $770,365
Avg. $767,460
Avg. $710,473
Avg. $648,271
Avg. $680,973
Avg. $682,406
$100,000
Avg. $684,745
$200,000
Avg. $528,531
$300,000
Avg. $408,702
$400,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
Prudential Utah Real Estate lists and sells more exceptional Park City properties than any other brokerage in the area. We know how to price, market and negotiate extraordinary homes. Please contact your Prudential realtor to sell or find your Park City home.
Development News
Stein Eriksen Residences Debut
Stein Eriksen Lodge and Regent Properties are proud to announce the debut of Stein Eriksen Residences,the next generation of the Stein Eriksen brand. The first new development offering ski in /ski out access in prestigious Silver Lake in nearly a decade, the stunning residences sit on the mountain’s most idyllic spot, boasting sweeping views of the slopes, Historic Main Street and the Uinta Mountains. Pre-sales are now in full swing. The stunning multi-story five-bedroom model home is open to the public, generating significant interest. With its prime address at 7101 Silver Lake Drive, Deer Valley, the home features interiors by internationally renowned, Utah-based Denton House Design Studio. The first release includes 8 homes ranging from approximately 5,000 to 6,000 square feet, priced from $5,325,000 to $6,975,000 and 18 condominium residences ranging from approximately 2,100 to 5,000 square feet, priced from $1,975,000 to $5,375,000. Designed by the prominent firm Think AEC, the trendsetting residences have a mountain contemporary architectural aesthetic. Inspired by a blend of modern and traditional design, each elegantly appointed custom home features imported stone and refined woods, reflecting a quintessential modern luxury look and feel. Surrounded on all sides by ski trails, the Residences are sold in full ownership, so owners can use them year round. The project also offers a luxury amenities building featuring an indoor/ outdoor infinity pool with a kids’ splash pad, a spa and fitness area, family game room and gathering area as well as a private dining room and lounge. For more than thirty years, the Stein Eriksen Lodge has maintained the benchmark of unparalleled luxury and uncompromised service. The new Stein Eriksen Residences offer many of the traditions and services synonymous with its legendary namesake. This is Steins, re-envisioned. For more information contact your Prudential Utah Realtor or visit www.steineriksenresidences.com
Market Area Spotlight
Wolf Creek Ranch Wolf Creek Ranch is an extraordinary mountain paradise consisting of master-planned 80-160 acre gated estates spread across almost 21 square miles. Estate owners and their guests can utilize the ranch common area facilities, including 60 miles of private summer and winter mixed use trails, an owners meeting/ reception facility, a three-bedroom guest cottage, 1 mile of blue-ribbon trout fishing river frontage, numerous stocked fishing ponds, and 4 furnished yurt structures. All of these amenities are carefully planned and placed on over 100 acres of commonly owned homeowner’s association land. The ranch shares a 7 mile common boundary with the 2.2 million acre Uinta National Forest, offering exceptional access to the Utah backcountry. Special amenities include a full time Ranch Manager and concierge service. Everything from airport pickups to snow removal to stocking of refrigerators prior to arrival can be arranged by the concierge staff. For more information contact your Prudential Utah Realtor.
Park City Community News
The Olympic Spirit Goes to Sochi For the first time ever, Women’s Ski Jumping will be an Olympic event at the 2014 Winter Games in Sochi, Russia. On January 15 the first-ever U.S. Olympic Women’s Ski Jumping Team was named and it’s made up of three Park City residents: Jessica Jerome, Sarah Hendrickson and Lindsey Van. Past 2-term Mayor of Salt Lake City, Prudential Utah Vice President and President of Women’s Ski Jumping USA Deedee Corradini says, “The fight to get women ski jumpers into the Olympics started back in 2004, and I’m so proud that Prudential Utah and Steve Roney have supported us every step of the way! Having these amazing women athletes compete in Sochi means we’ve already won, and if we see any one of these women on the podium, it will be the icing on the cake!” As excited as the three athletes were to be named to the U.S. Olympic Team, they were also excited about continuing to train right here in Park City instead of heading over to Europe for more competitions. So until the athletes leave for Sochi, they will be training hard to make sure their jumps are as good as they can possibly be leading into the biggest competition of their lives. Home town hero Ted Ligety will also be heading to Sochi for his third Winter Olympic Games. Ted’s ski season started strong with Giant Slalom victories in Sölden, Austria and Beaver Creek, Colorado as well as his first World Cup Super Combined win in Wengen, Switzerland. In February 2013, Ted won three World Championship gold medals in Schladming, Austria in Giant Slalom, Super Combined and Super G, becoming the first man to do so since Jean Claude Killy’s triple win at the 1968 Olympics. Ted was the 2006 Olympic gold medalist in the Combined and a four-time World Cup champion in Giant Slalom (2008, 2010, 2011 and 2013). Ligety also won the gold medal in the Giant Slalom at the 2011 World Championships. We wish Ted, Jessica, Sarah, Lindsey and all the other local and US athletes the best in Sochi!
Hot Off The Press Neighborhood GUIDE - Winter 2013 Edition Inserted into PARK CITY magazine is the Prudential Utah Neighborhood Guide. View it online at www.tinyurl.com/ NGW2014
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PROPERTY GUIDE - Winter 2013 Edition Fresh off the press is the Winter 2014 Prudential Utah Property Guide. Boasting 172 pages of Park City properties and real estate information, the Property Guide can be found all around the Greater Park City area and can be viewed online at www.tinyurl.com/PGW2014
U
© 2014 BRER Affiliates Inc. An independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Equal Housing Opportunity. The multiple listing information is provided by Park City Board of Realtors® or the Wasatch Front Multiple Listing Service from a copyrighted compilation of listings. Prudential Utah Real Estate 890 Main Street | Park City, Utah 84060 | 435.649.7171 | [email protected]
www.facebook.com/pruutah
2013: A Year to Remember in Park City Real Estate The 2013 Park City MLS statistics were just released and the details are outstanding for both buyers and sellers. Sales volume, properties sold and average sold price have steadily climbed each year since 2009 and inventory remains historically low. Yet pricing in parts of our market are well below the peak prices of 2007. The Park City market remains extremely complex and segmented. For instance, average Old Town and Upper Deer Valley home prices increased over 30% in 2013, while homes in neighboring Lower Deer Valley saw a decrease in average price.
Number of ProPerties sold
All Classes, All Areas - Year by Year Since 2004 4,500 4,000 3,500 3,000 2,500 2,000 1,500
4,028
2,812
2,452
1,341
1,130
1,421
1,662
1,814
2,230
500
3,045
1,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
total dollar Volume of sold ProPerties All Classes, All Areas - Year by Year Since 2004
$2,500,000,000
$2,000,000,000
$1,500,000,000
$2,128,923,506
$1,925,502,480
$2,034,191,083
$1,033,059,185
$867,230,118
$1,009,582,720
$1,077,426,368
$1,235,284,128
$1,521,765,768
$500,000,000
$1,244,496,656
$1,000,000,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
aVerage Price of sold ProPerties All Classes, All Areas - Year by Year Since 2004
$900,000 $800,000 $700,000 $600,000 $500,000
Avg. $829,605
Avg. $770,365
Avg. $767,460
Avg. $710,473
Avg. $648,271
Avg. $680,973
Avg. $682,406
$100,000
Avg. $684,745
$200,000
Avg. $528,531
$300,000
Avg. $408,702
$400,000
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Park City Board of RealtoRs®
Prudential Utah Real Estate lists and sells more exceptional Park City properties than any other brokerage in the area. We know how to price, market and negotiate extraordinary homes. Please contact your Prudential realtor to sell or find your Park City home.
Development News
Stein Eriksen Residences Debut
Stein Eriksen Lodge and Regent Properties are proud to announce the debut of Stein Eriksen Residences,the next generation of the Stein Eriksen brand. The first new development offering ski in /ski out access in prestigious Silver Lake in nearly a decade, the stunning residences sit on the mountain’s most idyllic spot, boasting sweeping views of the slopes, Historic Main Street and the Uinta Mountains. Pre-sales are now in full swing. The stunning multi-story five-bedroom model home is open to the public, generating significant interest. With its prime address at 7101 Silver Lake Drive, Deer Valley, the home features interiors by internationally renowned, Utah-based Denton House Design Studio. The first release includes 8 homes ranging from approximately 5,000 to 6,000 square feet, priced from $5,325,000 to $6,975,000 and 18 condominium residences ranging from approximately 2,100 to 5,000 square feet, priced from $1,975,000 to $5,375,000. Designed by the prominent firm Think AEC, the trendsetting residences have a mountain contemporary architectural aesthetic. Inspired by a blend of modern and traditional design, each elegantly appointed custom home features imported stone and refined woods, reflecting a quintessential modern luxury look and feel. Surrounded on all sides by ski trails, the Residences are sold in full ownership, so owners can use them year round. The project also offers a luxury amenities building featuring an indoor/ outdoor infinity pool with a kids’ splash pad, a spa and fitness area, family game room and gathering area as well as a private dining room and lounge. For more than thirty years, the Stein Eriksen Lodge has maintained the benchmark of unparalleled luxury and uncompromised service. The new Stein Eriksen Residences offer many of the traditions and services synonymous with its legendary namesake. This is Steins, re-envisioned. For more information contact your Prudential Utah Realtor or visit www.steineriksenresidences.com
Market Area Spotlight
Wolf Creek Ranch Wolf Creek Ranch is an extraordinary mountain paradise consisting of master-planned 80-160 acre gated estates spread across almost 21 square miles. Estate owners and their guests can utilize the ranch common area facilities, including 60 miles of private summer and winter mixed use trails, an owners meeting/ reception facility, a three-bedroom guest cottage, 1 mile of blue-ribbon trout fishing river frontage, numerous stocked fishing ponds, and 4 furnished yurt structures. All of these amenities are carefully planned and placed on over 100 acres of commonly owned homeowner’s association land. The ranch shares a 7 mile common boundary with the 2.2 million acre Uinta National Forest, offering exceptional access to the Utah backcountry. Special amenities include a full time Ranch Manager and concierge service. Everything from airport pickups to snow removal to stocking of refrigerators prior to arrival can be arranged by the concierge staff. For more information contact your Prudential Utah Realtor.
Park City Community News
The Olympic Spirit Goes to Sochi For the first time ever, Women’s Ski Jumping will be an Olympic event at the 2014 Winter Games in Sochi, Russia. On January 15 the first-ever U.S. Olympic Women’s Ski Jumping Team was named and it’s made up of three Park City residents: Jessica Jerome, Sarah Hendrickson and Lindsey Van. Past 2-term Mayor of Salt Lake City, Prudential Utah Vice President and President of Women’s Ski Jumping USA Deedee Corradini says, “The fight to get women ski jumpers into the Olympics started back in 2004, and I’m so proud that Prudential Utah and Steve Roney have supported us every step of the way! Having these amazing women athletes compete in Sochi means we’ve already won, and if we see any one of these women on the podium, it will be the icing on the cake!” As excited as the three athletes were to be named to the U.S. Olympic Team, they were also excited about continuing to train right here in Park City instead of heading over to Europe for more competitions. So until the athletes leave for Sochi, they will be training hard to make sure their jumps are as good as they can possibly be leading into the biggest competition of their lives. Home town hero Ted Ligety will also be heading to Sochi for his third Winter Olympic Games. Ted’s ski season started strong with Giant Slalom victories in Sölden, Austria and Beaver Creek, Colorado as well as his first World Cup Super Combined win in Wengen, Switzerland. In February 2013, Ted won three World Championship gold medals in Schladming, Austria in Giant Slalom, Super Combined and Super G, becoming the first man to do so since Jean Claude Killy’s triple win at the 1968 Olympics. Ted was the 2006 Olympic gold medalist in the Combined and a four-time World Cup champion in Giant Slalom (2008, 2010, 2011 and 2013). Ligety also won the gold medal in the Giant Slalom at the 2011 World Championships. We wish Ted, Jessica, Sarah, Lindsey and all the other local and US athletes the best in Sochi!
Hot Off The Press Neighborhood GUIDE - Winter 2013 Edition Inserted into PARK CITY magazine is the Prudential Utah Neighborhood Guide. View it online at www.tinyurl.com/ NGW2014
No
.
1
#
PC in
Pa r k C i t y
l
,
h
| Locations
Pru
Professionals
a
at e
|
U ta h R e
st
Sales
al
ta
ti
d
n
E
e
PROPERTY GUIDE - Winter 2013 Edition Fresh off the press is the Winter 2014 Prudential Utah Property Guide. Boasting 172 pages of Park City properties and real estate information, the Property Guide can be found all around the Greater Park City area and can be viewed online at www.tinyurl.com/PGW2014
U
© 2014 BRER Affiliates Inc. An independently owned and operated broker member of BRER Affiliates Inc. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Equal Housing Opportunity. The multiple listing information is provided by Park City Board of Realtors® or the Wasatch Front Multiple Listing Service from a copyrighted compilation of listings. Prudential Utah Real Estate 890 Main Street | Park City, Utah 84060 | 435.649.7171 | [email protected]
www.facebook.com/pruutah
