Significant Sales - week ended 9/1/17
On September 4th, Park City will hold its 120th Miners Day celebration. Highlights include the Miners Day parade on Main Street, breakfast at City Park, the mucking-and-drilling contest and the skateboard bowl jam. This event started as Miners Union Day in 1898 and during the 1940's was combined with Labor Day. This year promises perfect weather and a big crowd. With just a few leaves turning up high, we are expecting fall to replace a great summer soon and this past week has brought a subtle change to real estate activity. New summer listings have been dominated by single family homes, but now that school has started, that activity has diminished slightly and the slow in-town ski condo activity is picking up. The good times that Miners Day always brings is the perfect excuse for a modest blog post this week. There were 70 pended sales reported by the Park City Multiple Listing Service in the week ended 9/1/17. 54 closings and 87 new listings were reported during that week.
Single Family Homes: With 45 new single family homes listed last week and 18 pended sales, it was not a slow week. Most of the activity was in the gated communities and outlying areas together with some luxury homes that will be attractive for the ski crowd. In that category a new home at 8095 Woodland View Drive in the private, gated Alta Vista community in upper Deer Valley is now under construction and scheduled for spring 2018 completion. This 8,032 SF, 6 bedroom, 8 bath home on 1.00 acres features excellent ski access. This home is priced at $8,450,000 ($1,052/SF). http://www.tourbuzz.net/public/vtour/display/859844?idx=1#!/ . Another single family home that stood out in terms of quality and design in an unusual location is 932 Cabin Way at High Star Ranch in the Kamas Valley. This equestrian oriented 1,000 acre community has attracted amazing attention in the past year. The 2,453 SF, 3 bedroom, 4 bath home on .23 acres competes well with much more expensive "cabin" product at Victory Ranch and Promontory and is priced at $800,000 ($326/SF). http://www.tourbuzz.net/public/vtour/display/283641?idx=1#!/ .
Condominiums: There were only 17 new condo listings last week and many were relists, but the 31 pended condo sales featured some interesting activity. There were 3 sales of new contemporary town homes on Main Street, a luxury product segment of the market that has not attracted many buyers in the past several years. Following a number of different marketing campaigns and several price adjustments, the 2 sales at the 205 Main Street Condominiums seemed to signal a price level that is finally attracting buyers. Unit #A recently lowered to $2,450,000 ($806/SF) is a 3,041 SF, 3 bedroom, 4 bath unit at the top of Main Street directly across from the planned new town plaza. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1445777 . Unit #F, a similar 2,945 SF, 3 bedroom, 4 bath property listed at the old price of $3,335,000 ($1,132/SF) was also pended so we'll see the actual price when it closes. Also under contract last week was Unit #30 at the Parkite at 333 Main Street. This 2,618 SF, 3 bedroom, 4 bath property has been on the market since 2015 listed at $3,499,000 ($!,256/SF), so its actual sales price will be of interest. http://www.spotlighthometours.com/tours/tour.php?mls=11605503&state=UT .
Vacant Land: Lot of lots in faraway places made up the 25 new listings and 21 pended sales in this category last week. The exception was another developer lot sale at The Colony. 95 White Pine Canyon Road is a big view 6.54 acre site listed at $2,500,000, but no video is available.
