This BLOG is focused on updating you on the most significant new sales and listings in the Park City area market on a weekly basis. All content is original. By finding and discussing what makes some properties standout in terms of location, design, and price, I can help buyers spot locations and property types that may meet their needs. I select properties from all members of the Park City Multiple Listing Service that have quality video presentations. These videos are the next best thing to an actual property tour. When you are sure that an actual visit to one or several properties is worth your time, we can make that an enjoyable experience. If you are considering the sale of a property you own, it can pay big dividends to see what comparable properties are selling for vs. what properties you may be competing with are listed for.

I don’t shy away from expressing my opinions concerning this market and I’ve had many years of experience in doing so, but I need to know what you want to accomplish before I can really help you. This website and my BLOG are just first steps in a process that needs to add value to your efforts, so pick up the phone and call me or send along any comments you have on my BLOG posts.



James Lewis

Senior Partner
Branch Broker for The Colony
2200 Park Ave., Suite A200
Park City, UT 84060
Cell: 435.901.9898
Office: 435.649.7171




By Jim Lewis
Feb 27, 2018

After what seemed like a never ending Fall, we finally started seeing snowflakes and I am amazed at how well the season is turning out. Although Park City may not break records this year, we are holding our own. Coleen Reardon, director of marketing at Deer Valley, was quoted in the Park Record as saying that because of the resort's snow making abilities, business is pacing even with last winter. Deer Valley and Park City get well-deserved kudos from recent visitors about the quantity and quality of snow and retail, entertainment and restaurants do an amazing job of providing a quality product. Sundance was once again a huge success with over 70,000 visitors and Utah was again the number one viewer market for the 2018 Olympic Winter Games. I'm sure Park City more than held its own as a small part of the Utah market and it was great to see local winter athletes participate and do well. Salt Lake City/Park City will compete for the 2030 Winter Games and as the only past Winter Olympics location that has maintained facilities and training capability, it is hard to see us not winning that bid. I believe Park City and Salt Lake City's history of welcoming athletes and visitors from around the world will help the media remember that the Olympics are all about the pursuit of excellence in individual/team competition, not about competition among nations. Park City will always be as proud of participants who never make an Olympic podium as it is of Ted, Lindsey, Bode and Stein. This season has also brought us the "battle of the passes". Now Alterra, who recently purchased Deer Valley, is launching the new Ikon Pass to compete with Vail's Epic Pass. The new pass includes Deer Valley, Alta & Snowbird and 23 other North American resorts and goes on sale March 6 at http://www.ikonpass.com . Meanwhile, Vail's 10 year old Epic Pass, which gives its 700,000+ buyers access to four dozen resorts around the world including Park City Mountain Resort, will be tough competition for the Ikon Pass. I expect many of our locals and frequent visitors who are devotees of Deer Valley will continue purchasing Deer Valley season passes since the Ikon Pass includes only 7 days at Deer Valley. The Epic Pass and the new Ikon Pass are having a huge impact on the ski industry. We are seeing more evidence each season that "ski nomads" are becoming the new normal. In the past, "every-year-to-the-same-resort" created a market for larger family gathering ski properties. These homes and condominiums were furnished by the buyer (with the help of top decorators) and managed by professional property managers including nightly rentals when not in owner use. Now we are seeing new projects designed and managed more like luxury hotels and sold furnished with more emphasis on rental returns for owners. Recently Re-Play has launched a full ownership, fully furnished "YOTELPAD" product at Canyons Village with prices starting at $275,000. Sizes of this "first in the world" offering will range from 338 SF - 1,013 SF with services and amenities focused on nightly rental performance. There is a good reason that the company who created YOTEL and YOTELAIR has selected Park City to be its first foray into the resort market. It will be joined by 5 similar projects already confirmed in North America, Europe, and the Middle East. Hubert Viriot, YOTEL CEO was quoted in London as saying " Following the successful roll out of YOTELAIR and YOTEL, we saw a natural opportunity to rethink the traditional extended stay segment in the same fashion we disrupted conventional hotel models." Based on the enthusiastic acceptance so far by the Park City Realtor community, the IPO style offering should be an exciting event. Construction is scheduled to begin July 2018 and estimated completion is early 2020. If all of the above isn't enough real estate related news, last week it was announced that Storied Development, LLC, a Georgia real estate firm has purchased the 450 member Talisker Club in Empire Pass, 533 residential lots in the Tuhaye Golf Community development and 4 Empire Pass sites with development approvals for a combined 75 condominiums. You can expect major news in the near future concerning the rebirth of one of the premier golf/ski communities in the Park City market.


By Jim Lewis
Jan 27, 2018

Park City Treasure deal announced.

In a front page story in the January 27-30 edition of the Park Record entitled "Deal reached for all of the Treasure land" reporter Jay Hamburger wrote that City Hall and the Treasure partnership said that a 1/24/18 deal had been reached calling for the city to acquire a long disputed hillside property in Old Town for $64 million. This acquisition would require voter approval of Park City's biggest-ever bond next November. http://www.parkrecord.com/news/park-city-says-late-hour-talks-underway-to-acquire-all-of-treasure/ . That article was followed by two additional articles adding details and clarifying what had happened and what would happen next. https://www.parkrecord.com/news/park-city-treasure-deal-holy-smokes-that-was-fast/ , talked about events the day the deal was agreed to, and an article entitled "Treasure price falls sharply" tried to summarize the last seven years of the 30+ years of negotiations leading to last Wednesday. https://www.parkrecord.com/news/park-city-treasure-deal-fell-by-millions-of-dollars-since-2011/ . A final article entitled "Treasure deal is a "dream" outlined the importance of this deal and the benefits the citizens of Park City would receive. http://www.parkrecord.com/news/park-city-treasure-opposition-sees-deal-as-our-dream/ . Although this article was largely written from the viewpoint of the Treasure Hill Impact Neighborhood Coalition who have long argued for this outcome, it only goes a little way in communicating how important this step is in the history of Park City. Failure to reach this agreement and finalize it with a yes vote in November 2018 would be a devastating blow to what Park City has become and has the potential to achieve going forward. Everyone involved should be proud.


By Jim Lewis
Jan 13, 2018

Although we all wonder where the snow is, it seems to be a surprisingly normal year for visitors. The magicians who make snow have outdone themselves this year and have taken us to the time that never fails to bring real snow - the Sundance Film Festival. Sundance is 10 days (Jan 18-28) of maxing out every resource Park City has to offer (except ski hill capacity). The new Community Guide To The 2018 Sundance Film Festival is helpful for parking and logistics - http://parkcity.org/home/showdocument?id=48708 . My only advise is to bring lots of cash and comfortable snow boots and don't ask the question "Don't you know who I am?" or you'll wind up in the amnesia ward of our world class hospital. One piece of recent news you can use to prove that you're up to speed on Park City news is the announcement that the joint venture between KSL Capital Partners and Henry Crown and Co that acquired Deer Valley Resort has finally come up with a name - Alterra Mountain Co. http://www.tinyurl.com/ybtlhcuf . For additional background refer to my 8/26/17 uncategorized post - "The Battle of 800 lb Gorillas Begins With the Sale of Deer Valley" and my 4/15/17 uncategorized post entitled "Lets Get Ready To Rumble!". Project news is proceeding at warp speed and I have identified 3 projects now under construction in Deer Valley and 7 projects underway in Canyons Village that will be the real estate focus this season. Detailed analysis of these projects will be the subject of my posts in the near future. There were 41 pended sales reported by the Park City Multiple Listing Service in the week ended 1/5/18. 20 closings and 41 new listings were reported during that week. In the week ended 1/12/18, there were 58 pended sales, 29 closings and 48 new listings.


By Jim Lewis
Dec 30, 2017

Significant Sales - week ended 12/29/17

As 2017 comes to a close, it's time for a change in reporting what's new and exciting in Park City area real estate. A front page article in this weeks Park Record entitled "PCMR OWNER CARVES TOWARD A DEVELOPMENT " discussed Vail Resort's announcing that it has started a search for a developer for the base area of PCMR. The idea for an enhanced base area would include city and community priorities including more parking, traffic and transit improvements, employee housing and significant tax revenue generation for the school district and the city. Combined with the re-imagined, scaled back version of the Treasure project discussed in recent posts and the Kings Crown project along Lowell Avenue, the total impact of new development in Old Town is difficult to predict. Combined with the transformation of the Canyons Village area and the expansion of Deer Valley under new ownership, it is obvious that New Park City is rapidly replacing Old Park City. At the same time, the Heber Valley is undergoing a similar transformation. My format of discussing standout individual new listings and sales has become outdated. Today's story is now better told by discussing new project opportunities prior to and during construction. Toward that end, 2018 will feature posts more like my uncatagorized 2017 posts. In the final week of significant sales data, there were 39 pended sales reported by the Park City Multiple Listing Service. 27 closings and 22 new listings were reported in the week ended 12/29/17.

Single Family Homes: With only 9 new listings and 12 pended sales, my vote for best in show is a new listing at 2774 Silver Cloud Drive in the Fairway Hills neighborhood in Park Meadows. This 5,857 SF, 5 bedroom, 6 bath home built in 2003 and remodeled in 2015 is well priced at $2,775,000 ($474/SF). This home combines a convenient in-town location with great views and solid construction. http://www.spotlighthometours.com/tours/tour.php?mls=11704967&state=UT .

Condominiums: There were 10 new Park City condo listings and 13 new sales last week. 4338 Willow Draw Road, Unit # 1107 at the Juniper Landing project at the Canyons is a 1,606 SF, 2 bedroom, 3 bath townhouse built in 2008 and priced at $895,000 ($557/SF). http://www.spotlighthometours.com/tours/tour.php?mls=11704917&state=UT&reloaded=true . The Jupiter Landing project has enjoyed great success and new phases of the project recently completed or under construction are available at $611/SF - $791/SF.

Vacant Land: The last phase of The Colony is scheduled to be released next month and will be the luxury lot news of 2018.


By Jim Lewis
Dec 23, 2017

Significant Sales - week ended 12/22/17

The snow came and the visitors arrived - everything else seemed to mark time in favor of all things Christmas. In that spirit this weeks post has the very limited objective of just touching on a few of the most interesting new listings and sales from last week. There were 44 pended sales reported by the Park City Multiple Listing Service in the week ended 12/22/17. 29 closings and 52 new listings were reported during that week.

Single Family Homes: There were 18 new single family home listings and 14 of those listings were over $1 Million. Of the 5 new in-town listings, the two least expensive homes caught my attention. 115 Woodside Ave is a 1,650 SF, 3 bedroom, 3 bath home built in 1900 with lots of face-lifts since. Priced at $1,595,000 ($967/SF), this home has a great Old Town location, a 2 car garage and great outdoor spaces. http://www.spotlighthometours.com/tours/tour.php?mls=11704913&state=UT . 575 Rossie Hill Drive is 116 years newer and shows the very best of contemporary design in Old Town. This 2,114 SF, 3 bedroom, 4 bath home in the Silver Pointe neighborhood features sunset views of the Park City ski runs and Iron Mountain. Priced at $2,150,000 ($1,017/SF), this home also features a 2 car garage and is being sold fully furnished. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1496841#!/ . There were 2 of last weeks 19 pended single family home sales that I thought tied for sale of the week honors. 222 Sandridge in Old Town is a 3,798 SF, 5 bedroom, 7 bath home originally listed for $3,750,000 and later reduced to $3,300,000 ($869/SF). Built in 1890 and completely renovated in 2017, this location is one of Old Town's very best. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1483925  . The second significant sale was a home at 3798 Solamere Drive in Hidden Meadows featured as a new listing in last week's post. Priced at $2,645,000 ($436/SF), this home sold after only 10 DOM. http://www.tourbuzz.net/public/vtour/display/922698?idx=1#!/ .

Condominiums: Unit # A 16 at the Treasure Mountain Inn on 255 Main Street was the smallest of the 9 in-town condo listings. This 720 SF, 1 bedroom, 1 bath condo built in 1965 and remodeled in 2009 is offered at $365,000 ($507/SF) and is the perfect single person of couple property with excellent rental potential. http://www.tourbuzz.net/public/vtour/display/928245?idx=1 . Unit # 41 at the Fawngrove Condos in lower Deer Valley Resort is a 2,315 SF, 3 bedroom, 3 bath property listed for  $2,395,000 ($559/SF). Built in 1982 and remodeled in 2014, this town home has great pond and mountain views. http://www.tourbuzz.net/public/vtour/display/923420?idx=1#!/ . The condo sale of the week was Unit # 2 at 24 Nakoma Terrace in the Nakoma project in Empire Pass. Priced at $4,250,000 ($878/SF), this 4,841 SF, 5 bedroom, 7 bath condo was built in 2015 and combines the finest luxury features and finishes with excellent ski access and views. http://www.spotlighthometours.com/tours/tour.php?mls=11702616&state=UT .

Vacant Land: There were 3 outstanding luxury lots listed last week. 246 White Pine Canyon Road at The Colony is a 7.46 acre resale close to the Quicksilver Gondola and Yurt and is priced at $2,975,000. http://www.tourbuzz.net/public/vtour/display/925889?idx=1#!/ . 3667 Quarry Mountain Road at Quarry Mountain Ranch is a 7.02 acre lot priced at $2,395,000 - one of 36 lots in this 210 acre gated community. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1497234 . 3777 Quarry Mountain Drive is a 5.28 acre lot priced at $2,495,000. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1497238 .

Merry Christmas!


By Jim Lewis
Dec 18, 2017

Significant Sales - week ended 12/15/17

It was a week of big news as discussed in my 12/16/17 post entitled "Disaster Averted . . . . For Now". It was a much less eventful week in real estate, so this post will just highlight a few of the most significant sales and listings. There were 45 pended sales reported by the Park City Multiple Listing Service in the week ended 12/15/17. 33 closings and 48 new listings were reported during that week.

Single Family Homes: There were 18 new single family home listings last week and 6 of those listings were luxury homes in town. A property at 320 W Snow's Lane is the all-time fixer upper. This 5,602 SF, 5 bedroom, 5 bath home built in 1974 is being sold in as-is condition, but the 12.72 acre site may be the most desirable single family home property in Park City. Priced at $7,995,000, this property must be seen to be appreciated. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=amp#!/ . 3798 Solamere Drive in the Hidden Meadows neighborhood in lower Deer Valley is a 6,061 SF, 5 bedroom, 7 bath home on .85 acres built in 2008. Priced at $2,645,000 ($436/SF) this home offers ski run views and privacy. http://www.tourbuzz.net/public/vtour/display/922698?idx=1#!/ . A second exceptional contemporary home is located at 15 Eagle Point Ct in Park Meadows. This 7,053 SF, 4 bedroom, 6 bath home on 2.69 acres was built in 2005. This home features unparalleled views of Deer Valley and Park City Mountain Resort ski runs. Priced at $7,000,000 ($1,000/SF), this home combines too many features to list. http://www.tourbuzz.net/public/vtour/display/926468?idx=1#!/ . The single family home sale of the week was a home at 71 White Pine Canyon Road at The Colony. This 9,405 SF, 6 bedroom, 9 bath home on 5.92 acres was listed for $7,950,000 ($845/SF) and completed this year. Ski-in/ski-out access and all the latest high tech features made this a standout property. http://www.spotlighthometours.com/tours/tour.php?mls=11502263&state=UT .

Condominiums: There were 18 new condo listings and 16 pended condo sales last week and it was another week of "oldies but goodies". 7374 Silver Bird Drive, unit # 26 was new in 1981 and looks like it was just finished. This 2,750 SF, 3 bedroom, 4 bath property is priced at $1,295,000 ($471/SF) but no video is available. A new addition to the Empire Pass inventory is 7715 Village Way, unit # 103 at the Shooting Star project built in 2006 and remodeled in 2011. This 1,353 SF, 2 bedroom, 3 bath property is priced at $1,275,000 ($942/SF) and is sold furnished and does not include a Talisker Club membership. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1496352 .

Vacant Land: Another less than exciting week in vacant land with 12 new listings and 6 pended sales, but a new development parcel listing consisting of 38.91 acres at HWY 40 and River Road in the Heber Valley was listed at $12,000,000 and has a development agreement approval for 288,000 SF of commercial, retail & hotel water park which allows 312 condo/hotel units and 81 town home lots. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1494979 .


By Jim Lewis
Dec 16, 2017

Since the 1980's, a cloud has hung over Park City in the form of development rights granted to the Sweeney family to develop a large commercial project on 120 acres overlooking Old Town. Back in the 80's when the prosperity of today was only a hope for the future, the idea was to create a bed base that would fill main street businesses with customers. As time went by, residents realized the mass and scale of the Treasure Development did not fit into the overall community development that moved forward in unexpected ways. As visitor traffic increased and the bed base materialized in a variety of locations, the impact of 1,000,000 SF of lodging and commercial space including 200 hotel rooms, 100 condos plus conference space, with some buildings 100 feet high, was eventually recognized as a toxic mix of construction chaos, traffic congestion and unneeded capacity and competition for a prospering Old Town. Owners of restored miners homes imagined being in the shadow of tall hotel structures after years of intense construction activity and a traffic nightmare on narrow Old Town roads. All or those issues and the growing resident alarm resulted in what seemed like endless and very contentious planning commission meetings focusing on the project components and impact issues. By 2010, the Planning Commission and the Treasure partnership had reached an impasse and an attempt was made to buy out or produce a smaller reworked project. After a $93,000,000 buyout proposal from the Treasure partnership was rejected by the City, discussion on the original development plan continued with ever increasing intensity and community angst, with a deadline for a final planning commission decision at the end of 2017. At the 11th hour (as in last week), closed-door discussions between all parties have produced a possible buyout of 50% of the Treasure Partnership (the total interest of the Sweeney family) for $30,000,000 and a reduced project scope to include 18 single family homes and a small boutique hotel for the remaining partner - a firm called Park City II, LLC. That solution would be contingent on residents passing a $24,000,000 ballot measure in November of 2018 and an immediate $6,000,000 payment from the City to the Sweeney family. It is estimated that a $24,000,000 bond would cost the owner of a primary home with a taxable value of $1,000,000 approximately $90.75/yr for 15 years. The owner of a vacation home or commercial property with the same taxable value would pay $165/yr for 15 years. In hindsight it's easy to say that Park City should have stepped up years ago and purchased 100% of the development rights for less money, but even if that was possible, it didn't happen and residents should see this as the last chance to avert a true disaster. The cost of the bond and the probable suspension of plans to build Main Street Plaza and the possible re-evaluation of other conservation purchases are a small price to avoid the effects of allowing the original Treasure development to go forward or to deny project approval, enter into costly and doomed litigation only to see the project go forward eventually.


By Jim Lewis
Dec 09, 2017

Significant Sales - week ended 12/8/17

The Park City luxury home market has been on fire this year, but thankfully not in the way the California luxury market has been on fire this past week. Many of our owners and visitors come to us from the areas now experiencing this natural disaster on steroids. An article in today's Park Record in the "Writers on the Range" section (which is the opinion service of High Country News) was titled "Firefighters, your next mission might be local" struck a cord. The piece was written by Lorena Williams, a wildland firefighter based out of Durango, Colorado. The author made the point that undertaking responsible preventative maintenance can lessen the danger of fire in the urban interface and she also made the point that wildfire is overdue in much of the West. She mentioned, but did not explain in depth, the Firewise Communities Program to help people build in vulnerable areas. That made me think of how many vulnerable areas we have in the area served by the Park City Board of Realtors. Watching the national news coverage of the California fires, it seemed that the most expensive luxury homes in some of the most desirable neighborhoods burned just like the smallest homes. Perhaps buyers should ask whether "nestled in the trees" translates to "no defensible space"  when searching for their mountain dream home. I know I need to pay more attention to this subject and learn more about prevention and protection in considering the value of our existing home inventory. There were 48 pended sales reported by the Park City Multiple Listing Service in the week ended 12/8/17. 33 closings and 50 new listings were reported during that week.

Single Family Homes: Once again single family home new listings were down from previous weeks with only 15 new listings, but there were 20 pended sales. Looking for in-town value properties this week, 2 new listings caught my eye. 2427 Nanson Ct in the Nordic Village neighborhood in lower Deer Valley is a 4,205 SF, 5 bedroom, 6 bath home built in 1988 and remodeled in 2005. Priced at $1,578,000 ($375/SF), this home combines great location, excellent views and is eligible for nightly rentals http://www.spotlighthometours.com/tours/tour.php?mls=11704778&state=UT . Another well priced luxury home is 3661 Solamere Drive in the Hidden Meadows neighborhood. This 6,585 SF, 4 bedroom, 4 bath home on 1.13 acres in lower Deer Valley offers mountain views, great outdoor spaces and top quality features and finishes. Built in 2003 and priced at $3,000,000 ($456/SF), this is an excellent family home http://www.spotlighthometours.com/tours/tour.php?mls=11704797&state=UT . The single family home sale of the week was a home at 4135 N Two Creeks Lane in the Two Creeks neighborhood in the Old Ranch Road area. This 7,825 SF, 4 bedroom, 4 bath equestrian property on 4.12 acres combines exceptional views, privacy and state-of-the-art amenities. This home was built in 2012 and was priced at $5,600,000 ($716/SF) http://www.tourbuzz.net/public/vtour/display/873744?idx=1 .

Condominiums: Although there were 28 new condo listings reported last week, 15 of those listings were bulk developer listings - 4 at the One Empire Pass project and 11 affordable deed restricted units in Prospector Square. The most interesting of the remaining 13 new listings were smaller 2 bedroom properties in luxury neighborhoods where there is lots of competition. 333 Main Street, Unit # 33 at The Parkite development is a 1,334 SF, 2 bedroom, 3 bath contemporary condo being offered turn-key and priced at $1,379,500 ($1,034/SF). Located directly across from the Egyptian Theatre , this property is always in the heart of the action, especially during Sundance. http://www.spotlighthometours.com/tours/tour.php?mls=11704772&state=UT . In Empire Pass at the Arrowleaf project, a new listing at 8886 Empire Club Drive Unit # 106 is priced to compete with the other 5 Arrowleaf listings at $1,350,000 ($918/SF). This 1,471 SF, 2 bedroom, 3 bath ski-in/ski-out property was built in 2007 and is being offered fully furnished. http://www.spotlighthometours.com/tours/tour.php?mls=11704793&state=UT . There were 7 listings in the Grand Lodge project in Empire Pass until Unit # 408 went under contract last week. Priced at $1,875,000 ($907/SF), this 2,067 SF, 3 bedroom, 4 bath property built in 2007 showed that being the low price and the low price/SF gets results in the listing heavy Empire Pass neighborhood. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1488721 . I was able to tour the newly remodeled Tower Club last week and the recent expansion will be a major plus for those Empire Pass owners who choose Talisker Club membership.

Vacant Land: There was a surprising amount of pended lot sales last week with 19 reported. There were 7 new lot listings, but activity was spread throughout the market and mostly in the $300,000 to $600,000 price range.



By Jim Lewis
Dec 02, 2017

Significant Sales - week ended 12/1/17

Waiting..... The past few weeks have been slow and it seems like Parkites have been doing a lot of waiting and are tired of that activity. We have been waiting for Senator Hatch to bring President Trump to Utah to announce the resizing of Bear's Ears National Monument and Grand Staircase-Escalante National Monument and they will be in Salt Lake City to make that announcement on Monday. Based on expected reductions from 3.2 million acres to 1.2 million acres under Monument status, attorneys for offended groups are waiting to draft lawsuits - asking how are we going to get by with only 1.2 million acres? Being the eternal optimist, I hold out hope that we can. My real worry is that our National Parks and National Monuments are being loved to death by the ever increasing number of out of state and international visitors. Deferred maintenance and parking chaos in supposedly "protected" areas gives me pause about protecting more lands. It would be nice if Patagonia and other concerned citizens would put some effort into ways to raise the funds necessary to eliminate deferred maintenance  and truly protect what we have. Hunters and fishermen pay license fees, but many who enjoy the beauty of our state pay no comparable fees to support what they do and clean up after they do it. We have also been waiting for snow and that's also supposed to arrive on Monday. Yes, we know global warming is real, but let's enjoy one of the best climates anywhere now. A great deal of the small amount of time left over from personal shaming on the national news for the past few months has been devoted to tax reform which just passed in the Senate today, but final contents of the 500 page bill are a mystery to even those who voted on it. Although every group fighting to preserve their tax breaks has warned of dire consequences if they lose any current advantage - and that certainly includes the Real Estate industry - I'm predicting that Park City real estate will be just fine. I always wonder why higher prices are reported as good news and more affordable prices are not. The Park City real estate market is much more about lifestyle and entertainment than shelter for the top end of our market. The truth is that you must be a 1%er to afford that market. At the same time, a larger part of our local and state real estate market is still more about shelter and more emphasis on the 99% will benefit everyone. If you've been waiting for whatever before going after what you want in Park City real estate, you will miss a lot of good times and a great lifestyle. If you are already a Park City real estate owner, the sky is not falling and if it makes sense for you to sell or downsize, proper pricing is the key - buyers are smart and getting smarter. There were 33 pended sales reported by the Park City Multiple Listing Service in the week ended 12/1/17. 24 closings and 61 new listings were reported during that week.

Single Family Homes: There were only 20 new single family listings and 17 pended single family home sales last week, but the quality more than made up for the quantity. 944 Lowell Ave in Old Town is a 4,332 SF, 4 bedroom, 6 bath home built in 2009 with many top quality features. Anyone with an interest in this beautiful property which is priced at $3,650,000 ($843/SF) should also follow current discussions concerning final approval of the Treasure development proposal located on Lowell Ave and scheduled for final decision this month. http://www.spotlighthometours.com/tours/tour.php?mls=11704697&state=UT . 79 Fox Glen Circle in the Hidden Meadows neighborhood in lower Deer Valley is a 7,192 SF, 5 bedroom, 6 bath home built in 2001 and remodeled in 2009. Situated on a 1.33 acre view lot and priced at $3,890,000 ($541/SF) this home has special luxury features including a spectacular wine cellar and a golf simulator http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1493911 . Another home that combines fantastic in-town location with a just completed total remodel is 2981 American Saddler in the Meadows Estates neighborhood in Park Meadows. This 4973 SF, 5 bedroom, 6 bath home with Park Meadows Country Club fairway views is priced at $3,700,000 ($744/SF). http://www.spotlighthometours.com/tours/tour.php?mls=11704735&state=UT . Just out of town at the gated Colony community, a new listing at 103 White Pine Canyon Road is a 6,522 SF, 6 bedroom, 7 bath home on a 6.62 acre ski-in/ski-out lot. Built in 2014, this home is priced at $6,295,000 ($965/SF) http://www.spotlighthometours.com/tours/tour.php?mls=11704695&state=UT . My vote for sale of the week goes to a 22 acre estate in Maple Ridge Ranches. 6001 N Maple Ridge Trail is an 8,000 SF (6,795 SF finished), 6 bedroom, 6 bath Otto Walker designed residence featuring spectacular views http://www.spotlighthometours.com/tours/tour.php?mls=11703181&state=UT .

Condominiums: There were 37 new condo listings last week - a deceptive number since 27 of those listings were developer units, most of which are under construction or to be built. 2 in-town luxury condo listings will attract lots of attention from the ski crowd. 44 Silver Star Court in the Silver Star Cottages neighborhood in Old Town is a 4,232 SF, 5 bedroom, 6 bath property built in 2007 and priced at $3,250,000 ($768/SF) http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1493290#!/ . A new listing that will be a test for Deer Valley luxury pricing is Unit # 621 at the new Stein Eriksen Residences in upper Deer Valley. This 4,704 SF, 5 bedroom, 6 bath condo was completed this year with too many upgrades to list. Priced at $8,750,000 ($1,860/SF) this penthouse is a very special property http://www.tourbuzz.net/public/vtour/display/909010?idx=1#!/ .

Vacant Land: Lots are sleeping now with only 4 new listings and 3 pended sales last week.


By Jim Lewis
Nov 25, 2017

Significant Sales - week ended 11/24/17

After our first real snow storm allowed Park City and several other resorts to open, mother nature decided it was time for a last helping of Indian summer which gave us a beautiful Thanksgiving day and weekend. Park City restaurants pulled out all the stops and large crowds visited Main Street to put a new meaning in "shop local". Norwegian based Helly Hanson opened it's first retail store in Utah joining Main Street ski retailers at the Parkite Building at 347 Main Street. Charity was a big winner this Thanksgiving with the announcements that "Live PC, Give PC" had exceeded its goal of raising $2 Million for local non-profits and that the Park City Board of Realtors had met its 2,500 turkey goal. Many other charitable projects such as "Shop with a Cop" are now in motion for the Holiday season. It was announced last week that the Waldorf Astoria Park City in the Canyons Village was named the best ski hotel in the U.S. and one of the top three best ski hotels in the world at the World Ski Awards ceremony in Kitzbuhel Austria. There are currently 12 units listed for sale at the Waldorf ranging in price from $399,000 to $1,900,000. These properties continue to provide excellent rental results for their owners, many of whom own multiple units. There were 27 pended sales reported by the Park City Multiple Listing Service in the week ended 11/24/17. 18 closings and 42 new listings were reported during that week.

Single Family Homes: There were 18 new single family home listings last week, but the luxury homes listed were homes that have been on the market in the past and have been relisted after being on vacation long enough to qualify as new listings. There were 16 single family homes pended last week and two homes in Old Town that have been on the market for over 4 months were sold after recent price adjustments. 99 King Road in Old Town is a 1,385 SF, 2 bedroom, 2 bath home originally listed at $1,175,000 ($848/SF) and reduced to $998,000 ($721/SF) this month. This home was built in 1972 and remodeled in 2014 http://www.tourbuzz.net/public/vtour/display/806122?idx=1#!/ . 961 Norfolk Avenue in Old Town is an 1,812 SF, 3 bedroom, 3 bath home built in 1997. This home was originally priced at $1,450,000 ($800/SF) and sold after a price reduction to $1,325,000 ($731/SF) http://www.tourbuzz.net/public/vtour/display/803970?idx=1#!/ .

Condominiums: There were 17 new condo listings last week, but 8 of those listings were re-releases of developer units at 205 Main Street and the Lift project now under construction in Canyons Village. A resale at 3732 N. Vintage East Street, Unit #8 at the Vintage on the Strand project in Canyons Village is a 1,467 SF, 2 bedroom, 2 bath, ski-to/ski-from property built in 2007 with excellent rental potential and is priced at $899,000 ($613/SF) http://www.spotlighthometours.com/tours/tour.php?mls=11704603&state=UT .

Vacant Land: With only 7 new listings and 4 pended sales, it was a slow week for the lot market.


By Jim Lewis
Nov 18, 2017

Significant Sales - week ended 11/17/17

This past week and the week to come are usually the slowest real estate activity of the year. Last Friday saw our first real snow storm of the year and the resorts have been enjoying great snow making weather. As usual, resort openings have been pushed back a week or two, but opening before Thanksgiving has always been a contest for the bragging rights to first opening. Speaking of Thanksgiving, the Park City Realtor community has a long time tradition of conducting Utah's biggest turkey drive. After last years donations purchased over 2,300 turkeys, this year's goal is 2,500 birds. About 850 turkeys are handed out in the Park City area and the remainder go to other Utah communities. Realtor fundraising , travel and food coma's explain why this time of the year shows a substantial decline in real estate activity. There were 33 pended sales reported by the Park City Multiple Listing Service in the week ended 11/17/17. 37 closings and 38 new listings were reported during that week.

Single Family Homes: With only 18 new listings and 13 pended sales, it was a slow week for single family home sales. The standout new listing was a home at 2934 Quarry Mountain Road in the Old Ranch Road area. This 7,390 SF, 5 bedroom, 8 bath equestrian property on 4.02 acres in the gated Quarry Mountain Ranch subdivision was built in 2003. Well priced at $3,975,000 ($538/SF), this home combines a great location with ski resort and mountain views with quality interior features. http://www.tourbuzz.net/public/vtour/display/297132?idx=1#!/ . A sale at 342 Marsac Ave in Old Town was my pick for best value purchase of the week. This 1,771 SF, 2 bedroom, 3 bath home built in 1900 and remodeled in 2014 was originally overpriced at $1,425,000 ($804/SF), but after 232 DOM and a price reduction to $1,048,000 ($592/SF), it was pended last week. The Buyer made a great purchase. http://www.spotlighthometours.com/tours/tour.php?mls=11701029&state=UT . Another noteworthy single family home sale last week was a home recently listed at 2337 Lucky John Drive in the Holiday Ranchettes subdivision in Park Meadows. This 4,158 SF, 4 bedroom, 5 bath home on 1.16 acres was listed at $2,550,000 ($613/SF) and sold after only 8 DOM. http://www.spotlighthometours.com/tours/tour.php?mls=17704476&state=UT&reloaded=true .

Condominiums: There were condo sales last week that showed how strong well located older condos with quality remodels or remodel potential are in today's market. 1399 Cresent Road - Unit #103 in the Cresent Ridge project in Old Town is a 1,563 SF, 3 bedroom, 3 bath condo featured in last weeks post and sold after only 5 DOM. Priced at $850,000 ($544/SF), it was built in 1972 and remodeled in 2009 http://www.tourbuzz.net/public/vtour/display/909558?idx=1#!/ . Another "oldie but goodie" was Unit #104-20 at Mont Cervin in upper Deer Valley. This 2,234 SF, 3 bedroom, 4 bath property was built in 1990 and has never been rented, but has excellent rental potential. Priced at $1,650,000 ($739/SF), it sold after only 6 DOM. http://www.tourbuzz.net/public/vtour/display/906397?idx=1#!/ . With the resorts opening soon there is no doubt that quality condo inventory is tight, especially under $1 Million.

Vacant Land: With only 5 new lot listings and 3 pended sales, it is apparent that summer/fall sales are over and the winter ski-to/ski-from lot sales await the arrival of skiers.


By Jim Lewis
Nov 11, 2017

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!


By Jim Lewis
Nov 04, 2017

Significant Sales - week ended 11/3/2017

I have just posted a separate uncategorized post - "New York, New York, what a wonderful town" - to report on the acquisition of 2,300 acres next to the Deer Valley Resort which I believe is extremely significant for Park City's real estate future. In this post, I'll just highlight some significant new listings and sales from last week. There were 44 pended sales reported by the Park City Multiple Listing Service in the week ended 11/3/2017. 41 closings and 53 new listings were reported during that week.

Single Family Homes: With 30 new single family home listings and 19 pended sales, I focused on the hard to find values that show up at this time of year before the visitors arrive. A new listing at 14 Prospect Ave in Old Town is about as rare as listings get. This 1,410 SF, 3 bedroom, 2 bath home built in 1905 perched above Main Street has fantastic Old Town views and is an easy walk to everything on Main Street. Priced at $825,000 ($585/SF), this home is a great place to finish your first novel http://www.tourbuzz.net/public/vtour/display/904890?idx=1#!/ . A new listing at 14 Marilyn Ct in the Eagle Pointe neighborhood in Park Meadows is sited on 6.12 acres with panoramic views overlooking the entire Snyderville Basin. This 6,350 SF, 5 bedroom, 6 bath home was built in 2007 by one of Park City's finest builders and was remodeled in 2013. Well priced at $5,585,000 ($864/SF), this is a unique family home http://www.spotlighthometours.com/tours/tour.php?tourid=102965&mlsversion=1 . A home listed last week in the Midway area at 290 Lady Bank Lane reminded me of what great values are still available in the Heber Valley. This 2,373 SF, 3 bedroom, 3 bath rambler built in 2014 is priced at $550,000 ($232/SF) http://www.tourbuzz.net/public/vtour/display/902694?idx=1#!/ . My vote for single family home sale of the week goes to 10680 N Summit View in Deer Crest Estates. This 11,803 SF, 6 bedroom, 9 bath home built in 2011 was priced at $5,800,000 ($491/SF). this ski-in/ski-out residence features Jordanelle views and has all the bells and whistles. This is a Buyer with perfect timing http://www.tourbuzz.net/public/vtour/display/681994?idx=1#!/ .

Condominiums: There were 15 new condo listings and 18 pended condo sales last week. A listing at 544 Rossie Hill Drive in the Silver Pointe subdivision in Old Town feels more like a single family home. Built in 2002, this 1,623 SF, 3 bedroom, 4 bath property is sold furnished and has great nightly rental potential. It even has an over-sized 2 car garage and is well priced at $1,075,000 ($662/SF) http://www.spotlighthometours.com/tours/tour.php?tourid=103433&mlsversion=1 . In Deer Valley, a 1,500 SF, 2 bedroom, 3 bath, unit # C-13 at the Powder Run condos in lower Deer Valley was listed at $865,000 ($577/SF). Built in 1985 and recently remodeled, this one level property is an easy walk to the Snowpark base and has excellent nightly rental potential http://www.spotlighthometours.com/tours/tour.php?mls=11704416&state=UT . The luxury condo listing of the week is Unit # 241 in the Black Diamond Lodge located slope-side at the base of Deer Valley Resort. This 3,924 SF, 4 bedroom, 6 bath penthouse built in 2001 is priced at $4,190,000 ($1,068/SF) http://www.spotlighthometours.com/tours/tour.php?mls=11704437&state=UT . A condo featured in last weeks post as a "hot buy" went under contract after only 4 DOM. Unit # 170 at the Payday condos in Old Town was listed for $737,000 ($382/SF) http://www.spotlighthometours.com/tours/tour.php?tourid=103342& mlsversion=1&reloaded=true . 6 of the 18 condo sales showed less than 10 DOM and only 5 had over 50 DOM.

Vacant Land: With 8 new lot listings and 7 new lot sales, the activity was way out of town with no lot priced over $1 million.


By Jim Lewis
Nov 04, 2017

The big Park City headline of the week was " New York City firm acquires Mayflower land next to Deer Valley" http://www.parkrecord.com/news/firm-acquires-mayflower-parcel-near-deer-valley-resort/.#.Wfzfi1ke2VI.email . To get the full impact of this news you have to consider it as it relates to other development now underway and the news discussed in my 4/15/17 and 8/26/17 uncategorized posts concerning the acquisition of Deer Valley Resort by the as yet unnamed alliance between KSL Capital Partners and Aspen Skiing Company. The New York firm referenced is Extell Development Company, a privately held development company - https://extell.com . Extell president Gary Barnett, one of the biggest names in New York City real estate quietly purchased 40 acres adjacent to Deer Valley ski resort back in 2015 from an investor who had secured approvals to develop a hotel and roughly 200 condos on the site. Back in May 2016, the rumor was that Extell was looking to buy another 1,000 acres from the consortium of Dutch investors who have owned a large holding there since the 1980's. Now the acquisition of 2,300 acres announced yesterday combined with Extell's 40 acre Blue Ledge parcel opens up the opportunity for a year-round master-planned luxury resort in what could be a 30 year project. That development would add over 1,000 acres of ski terrain, lifts and parking in support of luxury residential and commercial development. One look at Extells New York property portfolio will give you some idea of how much the pool of prospects for Park City luxury property has expanded with this acquisition.


By Jim Lewis
Oct 28, 2017

Significant Sales - week ended 10/27/17

Although the activity last week was the lowest in October, it was probably the most interesting in terms of quality properties sold and listed. We are seeing new listings that will appeal to the ski crowd and we hope that we will see further additions to our thin inventory in November. One of the listings featured this week was also featured in the Friday WSJ Mansion section, but our local press was much more interested in the semi-final recreational league soccer game where Rabid Moose defeated PC Rage 3-1 to advance to the championship match on Nov 2nd. In other major news, the Park City Miners women's volleyball team won the Class 4A state championship and the North Summit Braves boys and girls cross country teams won the state 2A championships. There were 35 pended sales reported by the Park City Multiple Listing Service in the week ended 10/27/17. 40 closings and 56 new listings were reported during that week.

Single Family Homes: There were a number of in-town and close-in homes listed last week that are aimed squarely at the ski crowd. This timing allows the Realtor community a few weeks to inspect the homes and reach out to clients who have scheduled ski season visits to test interest in visiting properties during their stay. There was lots of listing activity on Norfolk Avenue in Old Town last week. Twin homes recently completed at 1060 Norfolk Ave and 1070 Norfolk Ave were each priced at $2,295,000 ($998/SF). These homes are each 2,299 SF, 4 bedroom, 4 bath properties and share this excellent location and quality construction. 1060 (the red one) - http://www.spotlighthometours.com/tours/tour.php?tourid=102992&mlsversion=1 . 1070 (the blue one) - http://www.spotlighthometours.com/tours/tour.php?mls=11704336&state=UT . Just down the street at 802 Norfolk Ave, a new listing priced at $2,342,000 ($1200/SF) has a historic feel and was completely rebuilt in 2000. This 1,952 SF, 3 bedroom, 3 bath home is only 70 paces from ski access on the Town Lift Ski Trail http://www.tourbuzz.net/public/vtour/display/897050?idx=1#!/ . Over on 439 Ontario Ave, a home built in 1995 and remodeled in 2007 that will have appeal as a primary of second home investment is well priced at $1,300,000 ($686/SF). This 1,894 SF, 3 bedroom, 2 bath home has a great location overlooking Old Town http://www.tourbuzz.net/public/vtour/display/897189?idx=1#!/ . A new listing at 7979 Roamer Ct in the Bald Eagle Club neighborhood in Upper Deer Valley was listed for $7,999,000 ($735/SF). This 10,887 SF, 9 bedroom, 10 bath home on a premier .70 acre lot was built in 1994 and remodeled in 2004. Ski-to/ski-from access, down valley views and quality finish's are only a few of the features http://www.spotlighthometours.com/tours/tour.php?mls=117043108&state=UT . If the Roamer home is just to small for you, a new listing at 69 White Pine Canyon Road in The Colony might be the answer. This 33,000SF, 14 bedroom, 22 bath home on 5.53 acres is priced at $18,950,000 ($574/SF). This spectacular home was built in 2006 and remodeled in 2015. It features direct access to 4 of the resorts best lifts and was featured in the Oct 27th WSJ Mansion section http://www.tourbuzz.net/public/vtour/display/886916?idx=1#!/ .

Condominiums: Many of the 25 new condo listings were project residences now under construction, but one new listing released for the upcoming ski season was an Empire Pass residence at 8777 Marsac Ave, Unit # 408 at the Grand Lodge. This 2,067 SF, 3 bedroom, 4 bath property built in 2007 is well priced at $1,875,000 ($907/SF) http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1488721 . Another new listing that will attract major attention is 1700 Three Kings Drive, Unit # 170 in the Payday project. This remodeled property built in 1972 is situated on a lake overlooking the 13 th hole of the Park City golf course. This 1,930 SF, 3 bedroom, 3 bath property is priced at $737,000 ($382/SF) http://www.spotlighthometours.com/tours/tour.php?tourid=103342&mlsversion=1&reloaded=true . There were 2 new sales last week in the Arrowleaf project in Empire Pass. 8886 Empire Club Drive, Unit #405 was listed at $1,400,000 ($942/SF). This 1,486 SF, 2 bedroom, 3 bath penthouse was built in 2007 and has panoramic Empire Pass views http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1462684 . 8880 Empire Club Drive, Unit #212 was built in 2007 and remodeled in 2015. This 1,812 SF, 3 bedroom, 4 bath property was priced at $1,895,000 ($1,046/SF) and featured ski hill views. http://www.tourbuzz.net/public/vtour/display/653806?idx=1#!/ .

Vacant Land: It was not an active week for lot sales with the exception of a 1.95 acre lot at 54 Red Cloud Trail in the Red Cloud community in Upper Empire Pass. This lot was listed for $2,950,000 and has Bluebell ski run frontage and includes a Talisker Club membership. No video is available.



By Jim Lewis
Oct 24, 2017

Significant Sales - week ended 10/20/17

After a little R & R, I returned to find a quiet real estate market. There was a notable positioning of new listings intended to appeal to the ski market which should continue leading up to opening day. The inventory of ski related properties is depleted along with prime in-town areas like Park Meadows. Any thought of a sales or construction slowdown in the gated golf communities doesn't seem likely based on last season and our year-to-date numbers. Thin inventory and rising prices may constrain activity, but my forecast is for a strong 2017-18 ski season. There were 42 pended sales reported by the Park City Multiple Listing Service in the week ended 10/20/17. 47 closings and 69 new listings were reported during that week.

Single Family Homes: After a strong year in Old Town single family homes vs. the previous year (+15% in number of sales and +48% in dollar volume), it was good to see 5 new listings within city limits. A new listing at 135 Daly Avenue in Old Town is just the kind of property we would like to see more of. This 2,300 SF, 3 bedroom, 4 bath home built in 2007 is priced at $1,700,000 ($739/SF) and the location and features like heated driveway, hot tub and gourmet kitchen give this property excellent rental potential http://www.tourbuzz.net/public/vtour/display/894426?idx=1#!/ . A second listing at 2675 Telemark Drive in the Solamere neighborhood in the lower Deer Valley area is a 3,328 SF home built in 1989 and remodeled in 2017. This 4 bedroom, 5 bath home features mountain views and is eligible for nightly rentals. Priced at $2,695,000 ($810/SF), this is a quality home in a great neighborhood http://www.spotlighthometours.com/tours/tour.php?mls=11704271&state=UT&reloaded=true . A new listing at 11362 N. Snowtop Road in Snow Top was listed for $5,300,000 ($517/SF). This 10,253 SF, 5 bedroom, 8 bath home on .86 acres with panoramic Jordanelle and ski run views was built in 2006 and has Old World charm. Since buyers figured out that they can purchase a membership to the Deer Crest Club at St. Regis (a 3 minute drive), activity at Snow Top has picked up substantially http://www.tourbuzz.net/public/vtour/display/896338?idx=1 . The single family home sale of the week was a home at 10015 N. Summit View Drive in Deer Crest Estates. This 10,494 SF, 7 bedroom, 9 bath home was listed for $7,749,000 (738/SF) and sold after 265 DOM. A true ski-in/ski-out home with spectacular Bald Mountain Views, this timeless home was built in 1999 http://www.tourbuzz.net/public/vtour/display/682017?idx=1#!/ .

Condominiums:  With only 16 new listings and 13 pended sales, it was not an active week for condos. One notable new listing was a rare listing at the Enclave project in upper Deer Valley. Built in 1983 and remodeled in 2007, this 1,729 SF, 2 bedroom, 3 bath residence features spectacular views and a great location. 7010 Royal Street, Unit #6 is priced at $875,000 ($506/SF) and has excellent nightly rental potential http://www.tourbuzz.net/public/vtour/display/895768?idx=1#!/  .

Vacant Land: There were 25 new lot listings and 9 pended lot sales last week - all outside city limits. 5 listings were released in the red-hot Soaring Hawk subdivision overlooking the Jordanelle Reservoir with prices ranging from $225,000 - $290,000. 11547 N Soaring Hawk priced at $290,000 shows why the developer can't build homes fast enough to meet current demand http://www.spotlighthometours.com/tours/tour.php?mls=11704188&state=UT .


By Jim Lewis
Oct 14, 2017

Significant Sales - week ended 10/13/17

Just as the days are getting shorter, the real estate activity justifies a shorter Blog post. In a quiet week I looked for new listings and sales in areas that don't get mentioned often. There were 54 pended sales reported by the Park City Multiple Listing Service in the week ended 10/13/17. 37 closings and 56 new listings were reported during that week.

Single Family Homes: Glenwild is a smaller gated golf community that rates high on quality. The Tom Fazio championship golf course has been rated as the #1 course in Utah, the clubhouse is among the best, and privacy and views can't be beat. A new listing at 1333 Snow Berry Street is an unusual home on a 2.69 acre well located lot that provides Wasatch Mountain ski area views. This 8,118 SF, 5 bedroom, 7 bath home built in 2009 is priced at $3,595,000 ($443/SF) http://www.tourbuzz.net/public/vtour/display/891503?idx=1#!/ Another gated golf community that has made huge strides in the past several years is Victory Ranch. Amenities include an 18-hole Rees Jones designed golf course, world-class fly fishing, trails, new clubhouses and dining, and a fitness center. A new listing at 7505 N. Victory Club Drive, Unit #287 is a rare water view cabin with views of the Jordanelle and Deer Valley ski runs. This 3,226 SF, 4 bedroom, 4 bath home was completed in 2016 and is priced at $2,495,000 ($773/SF) http://www.tourbuzz.net/public/vtour/display/889707?idx=1#!/ . In last weeks post I mentioned a new listing at 2280 Bear Hollow Drive that was priced to be a special value. That home was put under contract after only 5 DOM - a demonstration of the power of proper pricing. Another sale last week in a location that is sometimes overlooked was a home at 11289 Snow Top Road in Deer Crest. This 8,281 SF, 6 bedroom, 7 bath home on .87 acres features expansive mountain views, high tech features and was sold furnished. It was listed at $7,375,000 ($891/SF) tours.zenpro.co/public/vtour/display/874045?idx=1#!/ .

Condominiums: With only 9 new listings and 23 pended sales, it was a quiet week in the condo market. A new listing at 1000 Park Ave, Unit #B204 in the Town Pointe project in Old Town will attract attention going into the ski season. Priced at $1,074,500 ($646/SF), this 1,664 SF, 3 bedroom, 3 bath property built in 2002 has excellent nightly rental potential http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1485330 . Looking at the 23 new condo sales last week, only one sale was over $1 Million and all of the sales under $1 Million were under $500/SF.

Vacant Land: One new lot sale that caught my attention was a rare lot at 11343 Snow Top Road in Hidden Hollow. This 10.26 acre lot is one of only 5 large estates in an 81 acre enclave within the gated Deer Crest community at Deer Valley Resort. Priced at $1,200,000 this was an excellent purchase. http://www.spotlighthometours.com/tours/tour.php?mls=11703167&state=UT .


By Jim Lewis
Oct 07, 2017

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.


By Jim Lewis
Sep 30, 2017

Significant Sales - week ended 9/29/17

Off season continued last week and nightly lodging totals were down, but good news that promises a big 2017-18 ski season was everywhere. Vail Resorts announced its forth quarter and full year fiscal results. Net income was $210.6 million, a 40.6% increase from the previous year. Park City was credited for strong sales and double- digit profit growth. Although visitation to U.S. resorts declined by 5.4% due to early season conditions in Colorado and the late timing of the Easter holiday there was a large increase in season pass sales which were up 17%. In other news, Deer Valley Resort was once again voted the #1 resort in North America by Ski Magazine. Combined with the many infrastructure improvements in all areas of the Wasatch Back this summer, 2017 also promises to be a record real estate year in Park City and the Heber Valley. There were 73 pended sales reported by the Park City Multiple Listing Service in the week ended 9/29/17. 43 closings and 60 new listings were reported during that week.

Single Family Homes: With 25 new single family home listings and 29 pended sales, it was another typical September week. Only 2 of the new listings were within the Park City limits. 1010 Lowell Ave is an unusual property in Old Town. This 1,287 SF, 2 bedroom, 2 bath home built in 1974 and remodeled in 2005 is priced at $1,180,000 ($917/SF) http://www.tourbuzz.net/public/vtour/display/877905?idx=1#!/ . Just beyond Park City limits in Pineridge, a home at 6910 Canyon Drive features quality finishes and big views for those that want privacy in the trees. Priced at $1,750,000 ($416/SF) this 4,205 SF, 4 bedroom, 6 bath home built in 2010 is worth a look http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1482472  . A little further out at Promontory, a new contemporary home at 8581 N. Marmot Circle in the Deer Crossing neighborhood features one of Promontories best locations overlooking the 11th fairway and green of the Pete Dye Signature golf course and is walking distance from club amenities and the fishing pond. This 7,696 SF, 7 bedroom, 8 bath home on 1.07 acres was completed in 2015 and is priced at $4,575,000 ($594/SF) http://www.tourbuzz.net/public/vtour/display/877621?idx=1#!/  .The single family luxury home sale of the week was the home that I consider a best value in The Colony. 109 White Pine Canyon Road is an 11,218 SF, 7 bedroom, 11 bath home on a 5.27 acre lot with ski access on Twilight run and features spectacular views, quality finishes, an outstanding floor plan and furnishings by Paula Berg. Priced at $8,500,000 ($758/SF) this was a great purchase. http://www.tourbuzz.net/public/vtour/display/691328?idx=1#!/ . Another home featured in last weeks post as an example of good value in the Heber Valley was a home in Dutch Fields at 1128 Dutch Fields Pkwy priced at $1,049,000 ($200/SF). This home was under contract after only 6 DOM. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1482183 .

Condominiums: There were 11 new condo listings and 25 pended sales last week, but only one sale caught my attention - 7600 Ridge Drive, Unit #13 in the Ridge project in upper Deer Valley. Built in 1985 and remodeled in 2000, this 2,510 SF, 3 bedroom, 4 bath property was priced at $1,250,000 ($498/SF) and sold fully furnished after only 12 DOM. This unit was never rented and reminded me of the quality product built in the early days of Deer Valley. http://www.spotlighthometours.com/tours/tour.php?mls=11703848&state=UT .

Vacant Land: Lots were surprisingly active last week with 24 new listings and 19 new sales. 9 of the new listings and 9 of the pended sales were in the gated golf communities. A rare 5 acre parcel at 1437 W. Old Ranch Road with spectacular views, access to trails and nearby parks is a unique location for a luxury estate. Priced at $3,200,000, this was definitely the luxury lot listing of the week. http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1482868 .
















By Jim Lewis
Sep 23, 2017

Significant Sales - week ended 9/22/17

Last week saw the first real snow accumulation in the the city limits and more on the mountain tops, and was probably as "off season" as we get any more. Visitor count was down, but there were lots of happenings for locals - High School home coming, election campaigning, fundraisers and construction to name only a few. The new Whole Foods at Kimball Junction is scheduled to open on October 18th and will be twice the size of the old store at Redstone. Ritual Chocolate will be located inside and over 100 Utah vendors will be featured in the store. The new building will also include 20 affordable housing units and the Silver Mining Taproom serving local beers. Local sports results took up 2 full pages of the Park Record - not including feature stories. This weeks stories included coverage of the Miners golf team winning the Region 11 golf tournament, top results for the Park City Fencing Academy, a successful kickoff of Miners water polo, a close victory for the girls soccer team and wins for the volleyball team. If you have children interested in sports, consider Park City and not just for snow sports. Last week there were 68 pended sales reported by the Park City Multiple Listing Service in the week ended 9/22/17. 43 closings and 58 new listings were reported during that week.

Single Family Homes: Last week I mentioned an interesting new listing in Old Town that had come to market with photography delayed. 605 Woodside Ave has now corrected that problem. This 6,909 SF, 7 bedroom, 9 bath home built in 2009 in a prime ski-to/ski-from location in the heart of Old Town is listed for $9,995,000 ($1,447/SF). http://www.spotlighthometours.com/tours/tour.php?mls=11703780&state=UT . A second luxury home just out of town on Old Ranch Road is 4135 N Two Creeks Lane. This 7,825 SF, 4 bedroom, 4 bath home on 4.12 acres was built in 2012 and features exceptional views and privacy. Priced at $6,125,000 ($783/SF), this home will attract attention from the equestrian crowd. http://www.tourbuzz.net/public/vtour/display/873744?idx=1 . A new listing in Midway in the Heber Valley shows why many Park City owners are taking advantage of current Park City prices and replacing older homes with Heber Valley properties. 1128 Dutch Fields Parkway is a 5,254 SF, 6 bedroom, 5 bath home built in 2014 and priced at $1,049,000 ($200/SF) http://www.tourbuzz.net/public/vtour/display?idx=1&mlsId=257&mlsNumber=1482183 . Two single family home sales of homes featured in previous posts were standouts on the list of last weeks 30 pended sales. 1024 Norfolk Ave in Old Town is a 2,939 SF, 4 bedroom, 6 bath new construction home completed in 2015 and priced at $3,150,000 ($1,072/SF). It sold after 63 DOM. http://www.tourbuzz.net/public/vtour/display/826793?idx=1#!/ . 2624 Aspen Springs Drive is an 8,092 SF, 5 bedroom, 6 bath home on 2 acres in the Thaynes Canyon area. Priced at $3,695,000 ($457/SF), this home sold after 88 DOM and will probably be on my best purchases of 2017 list. http://www.tourbuzz.net/public/vtour/display/795950?idx=1#!/ .

Condominiums: 8 of the 18 new condo listings last week were new developer releases at the Apex and Wasatch Springs projects, but there were several older remodeled in-town units that have been in much demand lately. 950 Park Ave, unit #216 at the Park Station project in Old Town is listed at $579,000 ($500/SF). This 1,157 SF, 2 bedroom, 2 bath condo built in 1982 and remodeled in 2015 has excellent rental potential http://www.spotlighthometours.com/tours/tour.php?mls=11703910&state=UT . 1541 Crescent Road, unit #153 in Old Town is a 1,296 SF, 2 bedroom, 3 bath property built in 1972 and priced at $750,000 ($579/SF)