Significant Sales - week ended 9/15/17
With the first snowflakes falling at the highest elevations last week, we were reminded that Park City Mountain Resort's opening day is only 2 months away. Between now and November 17th we have every reason to expect a spectacular Fall season. It looks like the next 2 months are filled with events that target locals who will also enjoy easy reservations at favorite restaurants. Real estate activity last week was a replay of the week before with a surprising amount of activity at the gated golf communities. There were 77 pended sales reported by the Park City Multiple Listing Service in the week ended 9/15/17. 33 closings and 66 new listings were reported during that week. A story in the Park Record that caught my attention entitled "NAC Unveils Sweeping Expansions" by Ben Ramsey discussed a major expansion project meant to help the National Ability Center support its growing population of attendees. Most of those attendees are active duty, injured military and veterans, and children and adults on the autism spectrum, plus their family members. Over the last 5 years attendance has grown by 96% to 5,500 attendees with 35,000 adaptive recreation lessons per year. In addition to a new Mountain Center scheduled to start construction in 2018, 5 other construction projects are planned and the NAC has raised $11 million of their $15 million goal. As of this post the full story had not been posted on the Park Record website, but it will probably appear later at www.parkrecord.com .
Single Family Homes: There were 31 new single family listings and 36 pended single family sales last week. 2 interesting Old Town homes came to market, but only one has completed photography based on recent weather. 1183 Empire Ave is a 2,852 SF, 4 bedroom, 4 bath new construction home that made the mistake of listing during construction at an overly aggressive price, but has now relisted and is well priced at $2,495,000 ($875/SF). This home is now completely finished and furnished. http://www.spotlighthometours.com/tours/tour.php?mls=11703803&state=UT . A new listing at 7247 N. Westview Ct in the Homesteads neighborhood at Promontory is a good example of the excellent values available in this prominent golf community. This 4,772 SF, 4 bedroom, 5 bath home on .71 acres built in 2006 is priced at $1,895,000 ($397/SF) and features spectacular views and even includes a $125,000 Promontory Golf membership deposit. http://www.tourbuzz.net/public/vtour/display/214184?idx=1#!/ . For those who need a large home with a big yard, consider a new listing at 4343 E. Weber Canyon Road in Oakley. This 16,800 SF, 8 bedroom, 9 bath home on 1,918 acres built in 2009 is known as Riverbend Ranch and the main home is sited directly on the Weber River. This is the only property currently available that I can say is well priced at $30,000,000. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1480050 . The home featured in last weeks post at 1265 Sullivan Road in the Alpine Retreat neighborhood in Old Town went under contract after only 6 DOM and a very special home listed at $3,950,000 at 325 Mountain Top Drive in Park Meadows was sold after 336 DOM. Built in 1986 and way ahead of its time in design and construction quality, this home had a lot to do with securing the 2002 Winter Olympics. This 22,172 SF, 9 bedroom, 10 bath home was the single family home purchase of the year in my opinion. http://www.tourbuzz.net/public/vtour/display/634400?idx=1#!/ .
Condominiums: There were 23 new condo listings last week and my selection as the new listing of the week is 2608 Eagle Cove Drive #90 at the Last Sun At the Cove project in Park Meadows. This 4,088 SF, 4 bedroom, 6 bath condo built in 2003 is priced at $2,350,000 ($575/SF). Last Sun units are rarely available and this property won't last long. http://www.tourbuzz.net/public/vtour/display/868877?idx=1#!/ . Speaking of condo listings that don't stay on the market long after listing, 2 properties discussed in recent posts provided proof that remodeled older units well priced go fast. 67 Vantage Ct at the Racquet Club listed at $585,000 and featured in last weeks post was sold after 4 DOM and 2540 Fairway Village Drive listed at $1,225,000 was sold after only 22 DOM.
Vacant Land: There was nothing out of the ordinary in lot listings last week, but I did note that 17 of the 23 pended lot sales were in gated golf communities where it appears that new construction will continue at a fast pace.
