Significant Sales - week ended 11/10/17
Today is Veterans Day. Remembering my 1966-1971 experience in the U.S. Air Force amplified by watching all 18 hours of Ken Burns latest documentary made me reflect on how fortunate I am to be in Park City, Utah doing what I'm doing. One of our very old jokes is that if you can remember Park City in the 60's and 70's, you weren't here. The "no stoplights" days are long gone and I got another reminder of current changes last week. Last week pwc put out it's 39th annual "Emerging Trends in Real Estate" - one of the oldest and most highly regarded annual industry outlooks for the real estate and land use industry. The 2018 edition provides a regionally based look at 78 major markets and pwc's analysis for each market for the coming year. This year's survey selects Seattle as the top-ranked market, up from being ranked number four last year. Number 2 was Austin and Salt Lake City jumped to #3. The common bond shared by the top 3 was being the home to tech giants, having a well-educated labor force, and having strong liveability ratings, affordable living costs and technology readiness. I found this very accurate and detailed analysis quite disturbing since I've been expressing my opinion that Utah should not be among the locations competing for Seattle-based Amazon's new second headquarters (forecast to be the mother of 50,000 jobs), but thinking to myself that SLC could never compete with Dallas (#5), LA (#7), Atlanta (#17) or Denver (#23). Now I'm worried and depending on our tightfisted state government to stay clear of the big dollar incentives rumored from others. I believe Utah is too busy growing the next Amazons to make a nest for this Amazon. It was another quiet week in Park City real estate as we await the first major snow storm of the season and the opening of Utah Resorts in the next few weeks. There were 54 pended sales reported by the Park City Multiple Listing Service in the week ended 11/10/17. 43 closings and 61 new listings were reported during that week.
Single Family Homes: It was a week of interesting new single family homes, especially in Park City proper. 1162 Woodside Ave is a 1,077 SF, 2 bedroom, 1 bath home built in 1915 and remodeled in 2006. The location - between the Park City Library and The Shop Yoga couldn't be much better. The home is sited on 1.5 Old Town lots and there is room for parking and expansion. The property is priced at $995,000 ($924/SF) http://www.spotlighthometours.com/tours/tour.php?mls=1491249&state=UT&reloaded=true A new listing at 2 Single Jack Ct in Thaynes Canyon on the 8th green of the Park City golf course is a great family home. this 3,964 SF, 5 bedroom, 5 bath home was built in 1996 and remodeled in 2016. Priced at $2,499,000 ($631/SF), this will sell quickly http://www.spotlighthometours.com/tours/tour.php?mls=11704435&state=UT . A big view home at 1235 Aerie Drive overlooks Park City and Deer Valley ski runs and the lights of Historic Old Town. This 5,566 SF, 4 bedroom, 5 bath home built in 1991 and remodeled in 2017 is priced at $1,900,000 ($341/SF) http://www.tourbuzz.net/public/vtour/display/904440?idx=1#!/ . The Silo Ranch located in the gated Maple Ridge Ranches Community is well worth the drive. This 11,408 SF, 4 bedroom, 5 bath home on 7.70 acres was built in 2007 and has about every luxury feature you could imagine, At a listing price of $3,195,000 ($392/SF), this property is a fantastic value http://www.spotlighthometours.com/tours/tour.php?mls=11704417&state=UT . The single family home sale of the week goes to 27 Fox Glen Circle in the Hidden Meadows neighborhood in lower Deer Valley. This 5,226 SF, 5 bedroom, 5 bath home on 1.27 acres was built in 1999 and was listed for $2,600,000 ($498/SF) and sold after 50 DOM http://www.spotlighthometours.com/tours/tour.php?mls=11703669&state=UT .
Condominiums: Two new condo listings last week in the city limits caught my attention. 1399 Crescent Rd, Unit #103, is a remodeled and expanded condo in a much sought after location. This 1,563 SF, 3 bedroom, 3 bath property is steps from ski runs and hiking trails and was built in 1972. Priced at $850,000 ($544/SF), this property will attract major Holiday attention if it lasts that long. http://www.tourbuzz.net/public/vtour/display/909558?idx=1#!/ . A second very special remodeled luxury property is Unit # 336 in the Stein Eriksen Lodge. Built in 1983, this 3,246 SF, 4 bedroom, 5 bath property has been beautifully restored. The 5-star services and amenities at the Stein Lodge make this property an all-star rental http://www.spotlighthometours.com/tours/tour.php?mls=11700624&state=UT&reloaded=true .
Vacant Land: Our inventory of top quality luxury building sites took a serios hit with 4 major lot sales this past week. 3416 W. Snowtop CT in Deer Crest is a .51 acre big view lot that was listed for $1,190,000 http://www.spotlighthometours.com/tours/tour.php?mls=11701187&state=UT . 1 White Pine Canyon Road is a 40.17 acre equestrian lot nearest to the private community gate and was priced at $2,999,900. This is the site of the historic homestead for The Colony property http://www.spotlighthometours.com/tours/tour.php?mls=11504485&state=UT . 3646 Quarry Mountain Road is a 3.52 acre site in Quarry Mountain Ranch and was listed for $2,495,000 http://www.tourbuzz.net/public/vtour/display/668985?idx=1#!/ . 1437 W. Old Ranch Road is a 5.00 acre lot priced at $3,200,000 http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1482868 . 4 lots averaging $2,471,225 - amazing!
