Significant Sales - week ended 10/6/17
Fall is certainly a beautiful time of year in Park City as was proven last week. Gardens all froze as nighttime temperatures dipped below 20 degrees, there were a few snowflakes mixed with plenty of sunshine and spectacular autumn leaves. Local politics were way too well mannered to be interesting and the Park City Miners football team played their way into State. After more than a year of work and deliberations, the Snyderville Basin Planning Commission unanimously agreed to forward a positive recommendation regarding the master developers proposal to reconfigure more than 2.3 million square feet of density (and remove 230,000 square feet of density) at Canyons Village. The work done by TCFC Finance Co, who owns the land, and Replay Resorts, the master developer, resulted in a huge improvement to the original 1999 approval. They also did a good job of working with the planning commission and local residents. Since the resort is only about 28% built, these improvements will have a great impact going forward. There were 59 pended sales in the week ended 10/6/17. 39 closings and 61 new listings were reported during that week.
Single Family Homes: There were 36 single family listings and 31 pended single family sales last week, but only 4 of those listings and 6 of those sales were in Park City proper. The Old Town listing of the week was a recently completed restoration project at 222 Sandridge Ave in the Millsite Reservation neighborhood. Originally built in 1890, this home is sited on one of Old Towns most sought-after locations. This 3,798 SF, 5 bedroom, 7 bath home priced at $3,750,000 ($987/SF) is a unique value http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1483925 . A second interesting new single family listing at 2280 Bear Hollow Drive in Cedar Draw Estates just outside the Park City limits caught my attention based on its attractive price. This 8,712 SF, 6 bedroom, 9 bath home on 1.2 acres built in 2005, features privacy and excellent views. Priced at $2,295,000 ($263/SF), this home is well below replacement cost http://www.tourbuzz.net/public/vtour/display/885721?idx=1#!/ . A new sale last week at 961 Norfolk Avenue showed what buyers are looking for in Old Town. This 1,812 SF, 3 bedroom, 3 bath home built in 1997 combines good location, comfortable living, a garage and was well priced at $1,450,000 ($770/SF) http://www.tourbuzz.net/public/vtour/display/803970?idx=1#!/ . That same formula as new construction was demonstrated by a new sale at 1202 Empire Ave in Old Town. This 2,805 SF, 3 bedroom, 5 bath home shows what a difference 20 years makes. This home was listed for $2,495,000 ($889/SF) http://www.spotlighthometours.com/tours/tour.php?mls=11606075&state=UT .
Condominiums: The most interesting condo sale last week was 4868 Enclave Way, unit #19 in the Enclave At Sun Canyon project. This 4,827 SF, 4 bedroom, 6 bath contemporary condo built in 2015, has all the bells and whistles plus great views. This property was listed at $2,795,000 ($579/SF) and reinforces my conclusion that the new single family listing close by at 2280 Bear Hollow Drive is top value http://www.spotlighthometours.com/tours/tour.php?mls=11702715&state=UT .
Vacant Land: With 14 new lot listings and 12 pended lot sales, it was more of the same in far away places. New construction is not slowing down in the gated golf communities and outlying areas, but lot prices continue to be stable in those locations - lots of great buys available under $300,000.
