Category Archives: Featured Neighborhoods

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SIX FABULOUS SKI-IN, SKI-OUT CHALETS

With winter right around the corner, we have the ski-slopes on our mind. What’s better to dream about than sitting in your own ski-in, ski-out residence by the fire, watching the snow fall outside? We have put together a list of our favorite ski-in, ski-out homes that we currently have listed. Take a look inside and see for yourself what the slopes of Deer Valley Resort and Park City Resort have to offer.

We’ve got you covered with these six fabulous ski chalets:

 

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MARKET OVERVIEW – MID YEAR 2015

MARKET REPORT – PARK CITY REAL ESTATE 2015 MID YEAR

Click below to view the market report:

The Greater Park City real estate market has the highest number of closed sales and total dollar volume, for the first half of the year in 2015, since 2007. The market is growing at a steady pace and is showing many notable improvements. The overall sold volume for our market is up 6% to $827,826,405, for the first two quarters.

Single family homes have an average sales price of $1,047,661 and the number of sales is up 9%. Old Town saw a healthy 45% increase, with an average sales price of $1.5M. Promontory, Jordanelle and Glenwild also had a prominent increase in sales volume.

Condominiums are continuing to lead our recovery. Condominium sales volume is up 15% and the average sales price is $721,455, which is up 8%. Prospector had the highest jump in sales with 25 sales compared to 8 in the first half of 2014.

Vacant land sales volume is down; 17% to $82,010,103. Although, lot sales volume in Promontory is up 29%, in Jordanelle it is up 11%. In Lower Deer Valley the average sales price for a lot is up 70% to $590,946, compared to the first half of 2014. A lot of this volatility is related to lower inventory – especially as areas in the city limits get built out.

Deer Valley vacant land and condominiums are currently the most amplified sector in the area with the sales volume up 51% collectively. Single family home sales are down 17%, which we believe is due to lack of inventory. Condominium sales are higher than home sales with newer ski-to and from properties increasing in value. Condos near the base of the resort are selling quickly, being remodeled and are considered a good value with room for appreciation.

Synderville Basin offers home buyer’s more space for a more reasonable price then living in Park City proper. However, prices in Synderville Basin are increasing. The median sales price for a single family home is $850,000 up 18% from one year ago.

A large range of prices is evident in Park City. Although we have a high average sales price there are areas that offer great locations for a great value that could significantly appreciate with a remodel. For example, condos in Prospector range from $100-300,000, lower-end condos in Old Town start at $200,000, older single family homes in Park Meadows start at $750,000 and new construction condos in Kimball Junction, at Bear Hollow Ridge, start at $305,000.

Other market influences worth noting include the final expenditures of our walk-ability bond. This includes enhanced bike paths, pedestrian paths and tunnels at highly trafficked areas to improve safety and enjoyment for walkers and bikers. The Mountain Accord working with Greater Salt Lake City is making progress on solving traffic congestion in the area, among other things, as we have increasing seasonal and year-round population. This is important to carry on the quality of life that the Greater Park City area provides.

Inventory levels have been consistently low since 2012. As of July 1, our inventory was higher than it has been in a year. However, our segmented market shows that inventory in many desirable areas and price ranges is low.

There is only one. Park City. Our town is now home to the largest ski resort in America with over 7,000 acres of skiable terrain. Vail Resorts has initiated many improvements as part of a $50 million dollar project, which includes the new 8-person Quicksilver Gondola that will connect Park City Mountain Resort and Canyons Resort.

Luxury home sales in the overall Greater Park City area have increased and there is an increasing number of high-end buyers that have re-entered the market since the great recession. The number of sales over $1M have seen a 17% increase with 149 sales over $1M

in the first two quarters. $5M – $10M sales are healthy but are constant with last year so far.

Auctions have been introduced as a current trend in our market. This year, four homes over $6M sold. Jess Reid – Christie’s International Real Estate is pleased to have represented a client that purchased one of the homes listed at $11,750,000.

Christie’s International Real Estate releases a White Paper annually that gives us an insight on the global luxury property market. In 2014, US $1M plus sales were up 16%, over 2013. In 2012-2013 they reported an explosion in urban luxury home sales growth. However in 2014, we are excited to see that second-home resort markets are red hot, leading the growth in luxury property sales. The report shows that the average price in a lifestyle and regional resort market is about $1.5M. Park City’s median home price for the first two quarters of 2015 is $1.34M.

Life in Park City is something that we are thankful for every day. Our sense of community and our unique mountain-town that offers abundant open space is unlike any other place in the world. Call us today to learn how you can make Park City your home or get-away from home.

CONTACT US! With three locations in Park City and Deer Valley we are ready to answer any questions you have about the market and would be happy to provide you with a more detailed market report of a specific area or property type.

To view Greater Park City graphs – click here

To view Deer Valley graphs – click here

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WHISKEY WEDNESDAY – JESS REID – CHRISTIE’S INTERNATIONAL REAL ESTATE VISITS BLUE SKY

As wine enthusiasts, we pride ourselves on being experts when it comes to “pairings”. So, when our team heard that whiskey was being distilled, in combination with an “American West” mountain resort setting in Wanship, UT, we jumped at the opportunity to see how the “pair” would impress locals and visitors of the Greater Park City area.

We headed out on “whiskey Wednesday” to Blue Sky, the 3500 acre ranch about 20 miles from Park City off of I-80. After passing through a gated entry, we were shuttled up a winding road, lined with open-space and pastures. We learned on the short drive that Blue Sky is truly a working ranch with over 45 horses and 100 head of cattle. Five minutes later, we arrived at the new High West Distillery.

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High West, one of our favorite restaurants and the only distillery in the heart of Park City, welcomed us into their new 20,000 sq ft lab, which is still under construction. One 1,600 gallon copper still is currently in place and was imported from Scotland (insert “oooo and ahhh” here). The top-of-the-line equipment will allow High West to eventually make whiskey from rye, wheat, oat and malt and produce “25 times the amount of whiskey” than the current Park City location was capable of. The experienced distillers at High West are always raising the bar so expect to see new “flavors” added into the mix.

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The distillery is just one piece of the bigger picture that Blue Sky has envisioned. Currently, a 9,000 sq ft High West restaurant and visitor center is being built and nearing completion. This building encompasses incredible open vistas, spacious decks and will have private meeting spaces, tasting rooms, a restaurant and a gift shop.

Blue Sky will also build a secluded, luxurious, Amangari style, 40 room hotel on the property. The hotel will be uniquely placed and seamlessly blended into the landscape on the gorgeous ranch. Blue Sky offers, by appointment only, dozens of outdoor adventures, including; backcountry skiing, cross country skiing, clay shooting, horse-back riding, mountain biking and fly fishing.

Our sales team would like to thank Stuart, Henry, LeAnne, both Eric’s and the rest of the staff for welcoming and informing us of this exciting new project. Our sales team prides ourselves on being knowledgeable about the entire Greater Park City area. It is a pleasure to have a great understanding of Blue Sky’s collaboration with High West and we are excited to share more news with our buyers and sellers. Please contact us today if you have any questions or if you would like to see more photos!

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Diane Foster

WE HEARD IT FIRST! – DIANE FOSTER, CITY MANAGER VISITS SALES MEETING

Diane FosterEvery Tuesday Jess Reid – Christie’s International Real Estate holds a weekly sales meeting. Our sales team reviews the newest listings, learns and visits new developments and has public speakers visit our office, etc. We were pleased to welcome Diane Foster, Park City’s – City Manager, and expert on anything and everything Park City.

Diane filled us in on what’s happening in PC. We talked about traffic concerns, new projects, parking, the city’s budget and Vail’s improvement at Park City Mountain Resort (PCMR) and how certain things will effect our town. Please let us know if you have any questions or comments about current affairs in Park City and we will get you answers!

After a early sales meeting and a day of work, one of our staff members saw Diane trail running at PCMR that night, enjoying one of the many beautiful things that Park City has to offer.

We would like to thank Diane for making us experts on many of the current events in Park City and for keeping our town strong! See you soon on the trails and in Park City!

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LUXURY HOMES FEATURED WORLDWIDE!

When you list your luxury property with Jess Reid – Christie’s International Real Estate you are exposing it to a world-wide network of buyers that are looking for luxury homes. Each and every one of our high-end properties are advertised through Christie’s International Real Estate, on their website and in print media. The links to these properties on their sophisticated website get hundreds of views each day.

Buyers for luxury homes in the Park City and Deer Valley area are often International buyers and we have the resources to advertise in these markets.

Please contact us if you are interested in utilizing our brand to offer your luxury home more exposure.   Christie's

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LUXURY HOMES FEATURED ON CHRISTIE’S INTERNATIONAL REAL ESTATE

When you list your luxury property with Jess Reid – Christie’s International Real Estate you are exposing it to a world-wide network of buyers that are looking for luxury homes. Each and every one of our high-end properties are advertised through Christie’s International Real Estate, on their website and in print media. The links to these properties on their sophisticated website get hundreds of views each day.

Buyers for luxury homes in the Park City and Deer Valley area are often International buyers and we have the resources to advertise in these markets.

Please contact us if you are interested in utilizing our brand to offer your luxury home more exposure.   Christie's

Victory Ranch Blog - Fishing

ENDLESS ACTIVITIES AT VICTORY RANCH

The “activity day” at Victory Ranch for the Jess Reid – Christie’s International Real Estate team, may be the most scenic golf game played this season or possibly one of the most fun days our sales team will have this summer. Regardless, the activities at Victory Ranch are hard to beat. The residents and owners of Victory Ranch have a private playground in their backyard.

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The breathtaking view from the 17 hole looking towards Deer Valley and the Jordanelle!

The experienced Outfitters Team showed us endless activities that Victory Ranch owners experience on a daily basis. Activities at Victory Ranch, include:

    • Golfing 18 holes on the Rees Jones Golf Course – a challenging and beautiful course
    • Fly-fishing the four mile, private stretch of the Upper Provo – a fly-fisherman’s dream
    • Fly-fishing on the pond – a relaxing and rewarding experience
    • Riding the ATVs into the backcountry – exilharating and scenic
    • Five-stand trap shooting – bang, bang!
    • Mountain biking – over 20 miles of trail in the backcountry
    • Upland bird hunting – test your aim
  • Overnight camping in a backcountry yurt – relax under the stars
  • Water adventures at the Jordanelle Reservoir – cool down and make a splash

Want to take it easy? The Outpost, a new facility, is currently under construction. The Outpost will feature a pool, fitness center and spa. Take a walk or easy trail-run on miles of well-maintained trail and lay by the pool for the perfect relaxing day at Victory Ranch. This four-season recreational community is sure to please the whole family. If this sounds like the perfect home away from home or the ideal place to settle down then call us today and we will set up a tour with activities for you and your whole family at Victory Ranch so you can experience it first hand.

Click here to learn more about our day and how you can experience life at Victory Ranch.

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EXPERIENCE THE SERENITY OF NATURE ONLY 20 MINUTES FROM PARK CITY AT VICTORY RANCH

Our team at Jess Reid – Christie’s International Real Estate disconnected from our daily routine to enjoy endless adventures and to learn more about the real estate at Victory Ranch. Twenty-one minutes after leaving the office in the heart of Park City, we arrived at the gate and crossed that bridge the runs over the four miles of the Provo River that is exclusive to Victory Ranch, a community in the Heber/Park City area.

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Looking down the Provo river from the bridge.

We were greeted by the friendly staff as we arrived at the Freestone Lodge. The Freestone Lodge is peacefully set on the Provo River and is the gateway to over 6,700 pristine acres of beautiful rolling hills, vast untouched spaces and immaculately designed homes and cabins, that belong to Victory Ranch and their members.

Jim Moran, the Sales Director for Victory Ranch, cheerfully welcomed everyone and informed us of new programs at Victory Ranch and what sets them apart from other private communities.

Our team previewed cabins and homes with stunning décor and dramatic vistas. “I’m moving in, or I’m staying here” was a commonly heard joke among the sales team. Lunch at the Clubhouse looking over the course, was followed by a trip via golf carts up to the famous overlook at the 17th hole of the Rees Jones designed course. The overlook has 360-degree panoramic views of the Wasatch Mountains and surrounding wilderness.

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The Jess Reid – Christie’s International Real Estate agents at the 17th hole!

The Outfitters Team broke apart our group so that we could golf, ride ATVs, trap-shoot, mountain bike or fly-fish, the possibilities were endless. Read more about the activities that Victory Ranch offers here, and click to see more photos of our sales team enjoying themselves.

Our team would like to thank Jim Moran, Michelle Eastman, Brigid Flint, the Outfitters Team and staff for welcoming us and making us feel at home in Victory Ranch. The intimate experience for our team was unforgettable and we truly understand the unique offerings that Victory Ranch has for buyers looking to live life to the fullest, each and every day, or for a home away from home.

 

 

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PARK CITY IN THE “OFF SEASON”

The transition from winter to summer in Park City can slow things down a little, however that doesn’t mean there aren’t plenty of things to do in the off season. Locals and visitors alike can enjoy all of their favorite spots on a more intimate basis and receive great deals.

Shopping:
Local stores like Whimsy, Olive & Tweed, Mary Jane’s, Prospect and Fararsha Boutique offer special incentives and amazing clearance deals. Retailors Jans and Cole Sport host bike swaps along with end of the season sales. Support local Park City businesses while shopping for the latest fashions. For a list of all shops and retailers in the greater Park City area click here.

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Dining:
While a lot of restaurants take this opportunity to rest and relax there are still plenty of dining options and great deals! Bill White’s restaurants, including Chimayo, Wahso, Billy Blanco’s & Windy Ridge will remain regular operational hours with 2-for-1 entrée specials. Blind Dog Restaurant & Sushi is offering a half price menu on Tuesdays. Flying Sumo and Yuki Yama feature half off rolls throughout the spring and into summer. Other restaurants that are open will be follow suit with specials and half off entrée’s. Click here to see a full list of everything happening.Dining-Resize

Hiking, biking, & more:
Just because ski season is over doesn’t mean you can’t stay active in the great outdoors. Fly fishing outings are offered through retailers All Seasons and Trout Bum with excursions in the area. Local non-profit, Mountain Trails Foundation, keeps up with trail maintenance throughout the year in the Park City area. Trail maps are available online (click here) or for sale at local Park City businesses. Also, each resort in town offers a wide variety of trails for both hiking and biking, in addition to bike parks. There are public facilities throughout the town, including basketball, tennis and volleyball courts; trail work out stations, a skate board park and more!

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Golfing:
Park City, Utah is known all over the world as a ski destination, however there are amazing golf courses within town limits, along with many more in the surrounding areas. Park Meadows Golf Course, located in the heart of Park City, is a Jack Nicklaus Signature Course. Home to 10 PGA Senior Tour events and named best Private Golf Course in Utah by Salt Lake Magazine.
Canyons is opening their new golf course this spring, with 18 holes surrounding the resort. The par 70, 6,256 yard course was designed by acclaimed course architects Gene and Casey Bates.
Promontory will have the grand opening of their new Nicklaus Clubhouse on June 20th. It will feature cutting edge landscaping with dramatic architecture designed by renowned architect Patricia McCobb.
The public golf course, Park City Golf Club, is a classic that was originally built as a nine-hole course in 1964 by William Neff. It was revamped in 1973 to become an 18-hole course. With incredibly easy access it is a local’s favorite.
Other courses in the area include, Glenwild Golf Club & Spa, Wasatch Mountain Golf Course and Jeremy Golf & Country Club.

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Head South:
With the Mighty Five, that’s five national parks in the state of Utah, more than other state, Southern Utah camping in the spring is a must! While temperatures are slowing ramping up in Park City, the southern parts have perfect climates for camping and adventures, including biking, hiking, rafting and more!

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Check out the Mighty Five video here!

There are many things to do and options in Park City during the so-called “off-season”, to make it an amazing year round destination.

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First Quarter Year-to-Year Stats – Park City Real Estate Market

The newest, most up-to-date Park  City Real Estate stats are in! We have simplified and made them easy to comprehend. We look at the first quarter of 2014, months January – April, and compare them to the first quarter of 2015, months January – April. We compare the entire volume of Greater Park City, number of transactions and average sold price. Then we break it down into different types of properties, condos, single family homes and vacant land. Finally, we separate Deer Valley from everything to take a closer look at that segment of the market.

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If you would like more detailed stats about specific areas or neighborhoods. Please let us know. We would be happy to share the information that we have for just your area of interest.

To see the graphs that compare the first quarter of 2014 to 2015 of all Greater Park City; click here.

To see the graphs that compare the first quarter of 2015 to 2015 for Deer Valley only; click here.