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March 2015

Found 7 blog entries for March 2015.

Lawrence Yun, Chief Economist for the National Association of Realtors, (NAR) commented “Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices. Stronger price growth is a boon for homeowners looking to build additional equity, but it continues to be an obstacle for current buyers looking to close before interest rates rise.” Seller Market

Park City Real Estate Market Recap

With interest rates still under 4% and pent up buyer demand, now is a great time to put your home on the market. In Park City we have about a 4-6 month supply of homes on the market. We have a SELLERS Market under $1m. Since Q3 of 2012, the Park City real estate market has been low on the number of homes, condominiums, and townhouse

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Park City Real Estate Housing Market 2014 Summary

2014 marked the year that the average price of an Park City single family home reached $970,176 which is almost dead-on to 2006.  Park City Housing Market Dollar Volume 2014  

2006 Park City Housing Summary

Park City Single Family Home Number of Sales:

2014 Total Park City Limits: 181

2013 Total Park City Limits: 191

Park City Condominium/Townhome Number of Sales:

2014 Total Park City Limits: 376

2013 Total Park City Limits: 356

Snyderville Basin Single Family Home  Number of Sales:

2014 Total Snyderville Basin Limits: 333

2013 Snyderville Basin Limits: 382

Snyderville Basin Condominium/Townhome Number of Sales:

2014 Total Snyderville Basin Limits: 19

2013 Total Snyderville Basin Limits: 17

 

 

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A Little Imagination, A Little Magic and Abracadabra! It’s Done!

Do what kids do when they pile into the car and take a ride with their parents --- imagine! Children create all the time. In their innocence, the simplest ideas form the greatest stories.

Unburden your adult cares for a little while you’re driving around Park City and imagine for a moment that you put down the calculator and bank statements and think about simple things, like what makes a good real estate agent (think “Fairy God-Agent” ) and why you should list with him or her; what your current palace has going for it if you’re thinking about selling and what are the things your dream home must have inside if you’re in a buying mood. Every house tells a story. What will yours

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2015 Park City Ski Season Will Include $50 Million Of Ski Terrain Improvements

Since the purchase of Park City Mountain Resort Vail has been aggressively working hard to connect TWO of the best ski areas to create North Americas largest ski resorts.

  • The connection will create over 7,300 acres of skiable terrain. For the 2015 Park City Ski Season some of the improvements will be an eight-passenger high speed gondola. The gondola will run from the base of the Silverlode Lift at Park City to the Pine Cone Ridge and ski or ride to the Thaynes Canyon area.
  • The existing King Con lift will be upgraded to a six-person high speed lift.
  • The existing Motherlode will be upgraded to a high seed 4-person lift.
  • The restaurant called "Snow Hut"
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Home Buying 14This is the time of year that has home buyers and home sellers alike excited: The Spring Home Buying Season!

For buyers, it’s a great time to purchase a home because the school year is coming to an end and residents have all summer to move before it’s back in session. For sellers, it’s a great chance to reach a lot of home buyers as they navigate the market searching for their dream home.

In preparation for the spring home buying season, we wanted to share with you some tips on how you can shop smart as a home buyer. Enjoy!

4 Home Buying Tips for the Spring Market

Don’t just rely on the Internet for your home searches. While you can certainly find a treasure trove of information on the Internet, it’s not the only way to find your dream home.

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Price & Time Peak Performance GraphAre We facing Another Housing Bubble In Park City?

In March 2015, Corelogic released a graph for each states that illustrates how far we have come from the Peak of the real estate market. Even with the increase in housing price the "Price & Time Since Peak" figures show Utah is still 10 percent percent below their peak in 2005.

The biggest challenge we are facing in Park City is the lack of inventory available for sale. Right now, there are more buyers in the market looking for single family homes, condominiums, and town-homes than are currently on the market. The demand is out pacing the seller supply and this has caused prices in the Park City area to increase.

Bottomline, spring time in Park City is a very popular time for sellers to list

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Home Selling 8Things are certainly looking up on the national real estate market! According to a recent report from the national Standard & Poor’s/Case-Shiller Home Price Index, home prices increased during the month of January despite cooling home sales.

Experts believe that a tightening inventory helped to spur the rise in home prices.

This is important information for home sellers as it will help determine their home selling strategy on the local housing market. So continue reading to learn more!

What National Home Sellers Should Know About the Market

Here are the highlights of the most recent report from Standard & Poor’s/Case-Shiller Home Price Index:

  • National home prices increased 4.6 percent year over year in December, bolstered by increased of
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