Park City Real Estate News Blog

Argent Deer Valley - Last Development in Empire Pass

By The ParkCityInvestor Team
Dec 10, 2019

Argent is the final residential development coming to the Village at Empire Pass, one of the most exclusive ski areas in Park City, Utah. Argent is conveniently located between One Empire and Empire Residences, and will feature the finest in smart home technology along with expansive window walls to take in the wonderful mountain and valley panoramas. Agent is supposed to offer a lively and family-oriented environment with high-level services, amenities and the quickest access to the Silver Strike chairlift.

Amenities include a ski lounge with bar, large gathering table, ski lockers, coffee & hot chocolate service plus a media room; a kids room with arts and crafts, video and board games; the ‘Bowlski’s’ Gaming Studio will have two bowling alleys, video games, multiple TVs with surround sound, lounge seating, and an indoor putting green; Gym - Peloton-themed gym with expansive window walls for natural light and views; Skybox & Skydeck - An indoor ‘glass box’ room that is home to a shared library complete with telescope for stargazing as well as rooftop outdoor space; Outdoor Ski Beach Experience - Heated deck with extra-large hot tub, fire pit, and ski beach for outdoor après ski fun.

A Live-In Residence Manager will be assisting families in creating effortless and memorable vacation experiences. Ski Valet Staff ensures your gear is ready and waiting with fresh wax and sharpened edges. Pre-Ski & Après Ski Food & Beverage Experience is catered daily throughout the ski season.

We expect to have final pricing soon but approximate price ranges are:

  • 2 Bedrooms (1,600 to 1,700 sqft) - $2.3M to $2.6M
  • 3 Bedrooms (2,000 to 2,600 sqft) - $2.8M to $4.0M
  • 4 Bedrooms (2,700 to 3,400 sqft) - $3.5M to $5.2M
  • Penthouses (4 Bed - 3,800 to 4,000 sqft) - $6.4M to $6.8M
 

Reserve one of the last new residences in Empire Pass this winter. Construction set to start spring 2020 with an anticipated completion for the 2021/2022 ski season.

Contact The Park City Investor Team at 435.640.6966 for more information on how to reserve a residence.
 

Other new construction developments in Deer Valley include: Empire Residences, Goldener Hirsch (Spring 2020), Snowpark Residences and Tower Club Residences.

Argent Deer Valley Condos for Sale Empire Pass UtahDeer Valley Real Estate - Argent Empire Pass

Spectacular Ski Home Listed in Park City

By The ParkCityInvestor Team
Nov 05, 2019

8 Bedrooms I 10 Baths I 17,606 SF

List Price: $18,975,000

This ski dream home is situated on 4.8 acres in the gated Colony at White Pine Canyon community. Access the great terrain of Park City Mountain - the largest ski and snowboard resort in the country - right from your door steps.

Ski Homes for Sale in Park City Utah

Contact The Park City Investor Team at 435-640-6966 for more information about this or other ski homes in Park City and Deer Valley. 

Pinnacle at Promontory

By The ParkCityInvestor Team
Oct 25, 2019

Pinnacle at Promontory is a private community situated within the gated golf community of Promontory. Pinnacle offers 64 spectacular homesites on 143 acres.

Buyers have the option to choose from three modern luxury home designs OR purchase an estate homesite on which they can build their custom residence. The Portfolio of Homes, offers semi-custom homes with approximately 5,700 square feet of living space. All homesites feature expansive views of the Wasatch Mountains, Dye Golf Course and the surrounding mountain vistas. The average homesite is two acres and allows a footprint up to 10,000 sf.. Some larger and smaller lots are available for sale.

Center of the Pinnacle community will be Skyhouse, a private clubhouse with a pool, spa treatment rooms, state-of-the-art fitness facility, showcase kitchen, and outdoor space designed to entertain and take in the stunning views.
Prices for the Portfolio of Homes start at $4.15 million.
BUYER INCENTIVES: As of October 2019, buyer incentives up to 20 percent are offered. These can be used to lower the purchase price, towards upgrades or memberships (limited time offering).
Insure that you have the best representation when buying and/or selling Promontory Real Estate. Contact The Park City Investor Team at 435.640.6966 for more information about Pinnacle or Park City Real Estate.
*These properties are not actively on the MLS. Please contact us for more info.* 
Promontory Real Estate - Pinnacle at PromontoryPromontory Real Estate - Skyhouse ClubhousePromontory Real Estate - Pinnacle at Promontory

Michael Jordan lists his Park City Home For Sale

By The ParkCityInvestor Team
Oct 25, 2019

5 Bedrooms I 8 Baths I 9,574 SF

List Price: $7.5 million

Located on 3.93 acres within the gated golf community of Glenwild, this modern elegant estate features cascading waterfalls, stunning views, a golf simulator, a stadium-seating theater, copper roofing and an infinity pool.

 
Contact The Park City Investor Team at 435.640.6966 if you are looking to buy and/or sell Park City Real Estate.
 

Park City Real Estate Market Remains Strong

By The ParkCityInvestor Team
Oct 08, 2019

A question we get quite frequently is whether the market is going to see a recession soon. We wish we had a crystal ball and were able to answer this question. In the past few years we have seen properties appreciate up to 13 percent per year in a lot of areas in and around Park City. Currently, we may not see the same hikes, but instead, prices are stable. Properties are still moving in all price ranges. In fact, in the past couple of months we have seen properties move in price ranges we rarely see activity in. River Meadows Ranch sold for $32 million, a $25 million Deer Valley ski home went into escrow within two weeks on the market and several people are buying multiple million dollar new-construction condominiums simply to combine them to one large luxury residence.

The Park City market is for sure very different from other real estate markets. We do see a lot of cash purchases and many sellers are not in the need to sell or discount their properties.

Over the past few months we have come across some interesting articles on Inman.com, CNBC.com, Business Insider and Inc.com.

Is it better to invest into real estate instead of the stock market?

The Dow Jones has gone from a low of 6,469 in March of 2009 to 26,599 in the end of June 2019. In the recent months, we have seen buyers enter the Park City market with the long-term investment set mind to avoid the day-to-day stock market volatility.

Of the five potential options suggested by Forbes for investing in a volatile stock market, real estate financed with fixed-rate debt may protect investors against rising interest rates. Long-term rental properties can certainly perform well during an inflationary period. People always need a place to live. On the other hand, while not a lot of nightly-rental properties in Park City generate a return of 6 percent or higher, most of them do cover all expenses and owners tend to cash-in on long-term appreciation.

We hope you found this information helpful. Please contact us at 435.640.6996 if you have any questions about the Park City real estate market, or if you or anyone you know may be looking to invest into a property prior to winter. We appreciate your business.

Ranch Property for Sale Utah Homes for Sale in Deer Crest Utah

Park City Real Estate Market Update

By The ParkCityInvestor Team
Sep 30, 2019

The second and third quarter market reports confirmed that the overall year-over-year housing statistics for Summit and Wasatch Counties continued to show healthy appreciation with increases in both average and median sales prices as well as dollar volume as reported by the Park City Board of Realtors® Multiple Listing Service.

The greater Park City market in general continues to show great stability in single family homes. Despite an 8% drop in number of homes sold, the median sale price rose 14% year over year. During the same period in 2018, the median sale price gained 13%, indicating a sustained period of steady, consistent growth. Nationally prices grew at a steady 5% during the same period, with Idaho (11.4%), Utah (7.7%) and Tennessee (7.2%) showing the highest increases year over year.

Condominium and vacant land sales did not fare as well with condominium sales volume down 6% and land sales down 21%, despite respectable gains in median sale price of 4% and 6% respectively.

Inventory hits its annual peak level during summer. Going into fall, buyers will be challenged to find variety in the currently available inventory in all segments of the market. The resale market in general remains strong, buoyed by increasing costs to build driven by rises in both materials and labor. Custom homes now cost between $500-600/sq. ft. to build and can take as long as 16-24 months to complete, making the resale market more attractive for some buyers. New school facilities in south Summit and Wasatch counties are making homes there even more attractive to home buyers with younger children.

Real estate in the Wasatch Back consists of highly segmented markets with nuances that vary significantly from one neighborhood to another and one house to another. Comparisons are hard to read on paper due to the unique features of individual properties, such as views, amenities, condition, style, location, age, and inventory.

Please reach out to The Park City Investor Team at 435.640.6966 for a more detailed analysis of your specific property needs.  

Mayflower Resort Update

By The ParkCityInvestor Team
Aug 21, 2019

Information about the new Mayflower Resort have been released by the media last week. While official building permits have not yet been approved by the county, here is what we know so far:

Extell owns 5,600 acres located adjacent to Deer Valley Resort®. This new Resort Village will be accessible from U.S. Highway 40 at the Mayflower exit and will include:

  • 1,520 private residential residences ranging from estate lots to luxury condominiums
  • 3 luxury and lifestyle-branded hotels with 825 rooms and commercial units
  • 600 skier parking spaces
  • 95,000 square feet of workforce housing
  • A 68,000-square-foot recreation center that will be open to the public
  • 6 new ski lifts
  • 2 magic carpet conveyors
  • A connecting lift to Deer Valley Resort and
  • A large ski beach that will lead into the village.
 

There will be an extensive snow making system and trails for all ability levels.

Center of the village will be a MIDA hotel covering 615,000 sf and an additional 75,000 sf of commercial and conference space. One floor will be available to Active Duty Military and Veterans will at reduced rates. About 55 residences will be for sale.

Initial ground clearing and road excavation has already started. Two tunnels will be put in to connect the Mayflower real estate area with the Deer Crest side.

Groundbreaking for the MIDA hotel and convention center is scheduled to begin next spring. Mayflower Mountain Resort is currently scheduled to open in the winter of 2021-2022. Whether Deer Valley Resort will manage the new lifts still has to be determined.

Contact The Park City Investor Team at 435-640-6966 for more information about Mayflower Resort and get on our list to be notified as soon as new resort properties become available for sale.

** All information provided is deemed reliable, but is not guaranteed and should be independently verified. **

Mayflower Resort Park City Utah Mayflower Resort Real Estate Park City Utah Mayflower Resort Park City Utah - Military HotelMayflower Resort Park City Utah Real Estate

St. Regis Deer Valley Phase 2

By The ParkCityInvestor Team
Aug 05, 2019

St. Regis Deer Valley is going to release Phase 2 this fall. Phase 2 will consist of nine very exclusive and private residences at Snow Park. Located between the St. Regis funicular and Black Diamond Lodge, this project will be unlike any other condo product that has ever been available in Lower Deer Valley. All residences will have south-west views, nice balconies, luxurious mountain contemporary finishes, climate controlled owner storage, one assigned and one floating parking spot and much more.

Owners will receive a membership to the new Deer Crest Club at Snow Park and are able to use all amenities at St. Regis such as their pool, fitness center, ski valet, shuttle service etc. The building will also feature an intimate but family-friendly Italian restaurant.

The developer is hoping to have the project completed by summer/fall 2020.

Contact The Park City Investor Team at 435-640-6966 for more information on how to reserve one of the residences in Phase 2 of St. Regis Deer Valley.

Stein Eriksen Family Residence for Sale

By The ParkCityInvestor Team
Jul 05, 2019

The personal residence of ski legend and Deer Valleys iconic Stein Eriksen is for sale. The European-style mansion offers almost 8,000 square feet of living space, five bedrooms, seven baths, a modern care-takers apartment perfectly suited for long-term guests. The property features a pond, two streams and water features. The home is located on a private cul-de-sac with stunning views of the Park City Municipal Golf Course and Park City Mountain Resort.

Contact The Park City Investor Team at 435-640-6966 to learn more about the property and Park City Real Estate.

Park City Utah Real Estate for Sale - Stein EriksenPark City Real Estate - Stein Eriksen Home for sale Stein Eriksen Personal Residence Park City UtahPark City Real Estate - View from the Stein Eriksen Family ResidencePark City Homes for Sale - Stein Eriksen Personal Home for SalePark City Utah Homes for Sale - Stein Eriksen Family Residence

 

Tuhaye introducing New Exciting Concepts

By The ParkCityInvestor Team
Jun 21, 2019

The new development team at Talisker laid out exciting new concepts for the club. Besides adding new, state-of-the-art amenities, Talisker is striving towards delivering new levels of hospitality, service and most importantly memorable experiences. As a Talisker member you can enjoy amenities and golf in Tuhaye, access the iconic ski-in ski-out Tower Club in Empire Pass, enjoy backcountry activities and wine/dine in the exclusive member-only restaurant and lounge on Main Street. Courchevel on Main Street is set to open this summer. Tuhaye is adding a Kids Pool Pavilion, and Moondance Park with playgrounds, volleyball courts, soccer field, dog park, zip lines as well as an ice rink in the winter. The iconic Tower Club in Empire Pass is currently being renovated. Talisker is adding a new full-service spa, a new Wildstar Kids Camp and they are expanding the Fitness Center. The Outdoor Living experience will be enhanced with new pool, pavilion, fire pits, hot tubs and ski beach. The Outpost on Guardsman Pass offers a back-country yurt which is a perfect starting point for horseback riding, tubing, snow shoeing, snowmobiling, and much more. A club boat is available for water sports and shuttle services are offered between all Talisker locations.


New Talisker-Approved Properties 


Tuhaye - Whispering Hawk will offer three to four bedroom mountain contemporary cabins with 1,890- 3,288 sf. of living space and views of the golf course and surrounding mountain range. Prices starting at $1.6 million

Tuhaye - Morningstar will offer approximately 30 shared ownership options for five-bedroom cabin homes with 5,700 sf of living space. Perfect for anyone who wants to "test" Tuhaye life. The limitation on shares allows for an easier resale down the road.

Only 4 of the 14 Tower Club Residences in Empire Pass are still available for sale. These spectacular residences offer prime ski-in ski-out access in a boutique-hotel-style setting with some of the best amenities in Empire Pass. The Tower Club Residences offer three, four and five bedroom floor plans.

Moonshadow Estates offer a rare, limited opportunity to build your home of choice in Empire Pass - Deer Valley. This enclave of eight estate-sized custom homesites do no building restrictions. You can build as modern or traditional as you want.

 

Contact The Park City Investor Team at 435-640-6966 for more information about Talisker, Tuhaye and Park City Real Estate.
 

Talisker Park City Utah - Tuhaye Real Estate - Empire Pass Real EstateWhispering Hawk - Tuhaye Cabins for Sale Morning Star Cabins I Fractional Ownership Tuhaye UtahThe Residences at The Tower Club - Empire Pass Real Estate Park City UtahTower Club Residences Empire Pass Park City UtahMoonshadow Estates Empire Pass Deer Valley

 

Colony at White Pine Canyon Real Estate Update

By The ParkCityInvestor Team
Apr 22, 2019

The Colony at White Pine Canyon had a good first quarter of 2019 with four homes and five home sites sold. Three additional homes are currently under contract and scheduled to close soon. The total sales volume for the first quarter is $34,955,000.

In 2018, the Colony saw $113,440,000 in sales volume with 12 homesites and 7 custom homes sold.

Right now, 27 homesites are available, priced from $1.9 million to $5.5 million, and 10 custom homes for sale, priced from $5,975,000 to $14,950,000.

The Colony at White Pine Canyon features some of the largest ski-in ski-out lots in the country with home sites averaging six acres in size. The Colony is a gated community nestled within the largest ski and snowboard resort in North America. It is surrounded by more than 400 miles of single-track hiking and biking trails in the summer. Over 90 percent of the 4,600 acre development is dedicated to open space.

Interested in Park City property?

Contact The Park City Investor Team at 435-640-6966 for more information. Set up your property tour today.

Colony at White Pine Canyon Real Estate

New Development in Pinebrook: Discovery Ridge

By The ParkCityInvestor Team
Mar 25, 2019

Discovery Ridge is a new 72-acre residential development that is going to be located on Kilby Road which connects Summit Park and Pinebrook.

Discovery Ridge will consist of 67 residences of which 42 are going to be single-family homes, four are duplexes and 21 townhomes. Each residence will have a two-car garage. If a reservation is made during the construction phase buyers can select from three color palettes and other interior features.

The development can be accessed just passed Weilemann – School of Discovery and will stretch over to Woodward. It will feature 75 percent of open space and backs up to an additional 780 acre Toll Canyon Open Space Park. Amenities will include a basic trail system and two community play grounds.

30-night minimum for rentals. Up to two dogs and cats allowed.

Discovery Ridge is located in the Park City School District. Phase 1 includes thirteen townhomes and two twin homes starting at $680,000.

The Reservation process has begun and the first foundations are to be poured.

Insure that you have the best representation when buying and/or selling Park City Real Estate. Contact The Park City Investor Team at 435-640-6966 for more information about Discovery Ridge and how to reserve one of these residences.   

Discovery Ridge Pinebrook - Townhomes and Single Family Homes for Sale Discovery Ridge Real Estate for Sale Park City Utah Discovery Ridge Pinebrook Park City Utah

Properties taking Reservations - NOT listed on MLS

By The ParkCityInvestor Team
Feb 22, 2019

CANYONS VILLAGE

** Pendry Park City at Canyons Village has received over 40 reservations of interest. Monday specific unit reservations will be finalized and the developer will raise the prices!!

** Ridge at Canyons Village located on Red Pine Road between Silverado and Sunrise Lodge, Ridge will feature spacious four and five-bedroom residences.

** Viridian at Canyons Village - townhomes across from Waldorf Astoria. On the golf green. Steps from the Frostwood Gondola.

** White Pine Canyon Village at Canyons located on White Pine Canyon Road adjacent to Black Rock Residences - steps from the Lower Village Cabriolet.

DEER VALLEY

** New Larkspur building featuring 3 luxurious townhomes. Currently all reserved. Backup position possible.

** Moon Shadow Estates in Empire Pass features 8 lots for sale. Lots are starting at $2 million and allow homes up to 8,000 SF. As opposed to other areas in Deer Valley limited building restrictions exist and it is possible to build an ultra modern home. Reservations are being taken.

** Tower Club Residences in Empire Pass only 4 of the 12 Residences are still available for reservation.

JORDANELLE

** Klaim at Jordanelle - these will go fast! Townhomes starting at $600k. Nightly Rentals allowed.

** Mayflower Lakeside - only 8 of 48 residences remaining - new condos featuring lake views and easy access to the Deer Valley gondola. Once Sky Ridge is finished an equestrian center and golf academy will be in close proximity.

** Skyridge - located on the west-side of Jordanelle. Currently taking reservations for lots in Phase 1.

** Tuhaye - lots of new construction coming up. The developer will break ground on a number of new modern 2 to 3 bedroom villas. Each cabin home will feature large window fronts to showcase the spectacular views of the golf course and mountain vistas. Prices starting at $1.5 million and purchase will include a full Talisker membership. Amenities include a championship golf course, club house, pool, fitness center, spa, access to Tower Club in Empire Pass and a new lounge/restaurant on Main Street. More to come!

** Victory Ranch - now offering 1/8th Fractional Interest residences starting at $395,000.

Ridge Park City - New Townhome Community at Canyons Village

By The ParkCityInvestor Team
Feb 11, 2019

Ridge is a new townhome development coming to the Upper Canyons Village in Park City, Utah. Ridge will be located on Red Pine Road between Silverado Lodge and Sunrise Lodge by Hyatt Grand Vacations.

Ridge will offer uphill and downhill floor plans with townhomes ranging from approximately 2,600 to 3,600 square feet with four and five bedroom floor plans.

Prices are starting at $1.6 million with construction to begin in the spring of 2019.

Insure that you have the best representation when buying and/or selling Park City Real Estate. Contact The Park City Investor Team at 435-640-6966 for more information about real estate at Canyons Village.

Ridge Park City - New Townhomes at Canyons Village Ridge Park City Utah - Townhomes for Sale at Canyons Village Ridge Park City Utah - New Townhomes at Canyons Village

Kings Crown Park City - Last Ski-In Ski-Out Development in Old Town

By The ParkCityInvestor Team
Jan 31, 2019

Kings Crown is starting to take reservations on their 27 lots, 28 elegant condominiums and 7 spacious townhomes. Nestled at the base of Park City Mountain Resort, Kings Crown is going to be the LAST on-mountain development in Old Town Park City, Utah. The developer donated over 80 percent as open-space to preserve the mountain views for owners and to maintain the charm of Old Town Living. Kings Crown is the first new construction at the base of Park City Mountain Resort in decades.

+ Townhomes, 3,500-3,900 SF, starting at $3.9 million

+ Condominiums, studios to four-bedrooms residences, starting at $809,000

+ Lots starting at $950,000

Kings Crown will be located adjacent to Marriott Mountainside along the Crown Way ski run. The development is going to be managed by Vail Resorts - guaranteeing snow making on the ski run and other exclusive owner-amenities. Anticipated completion spring of 2020.

Interested in more information or putting in a reservation? Contact The Park City Investor Team at 435-640-6966 today!

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