April Was A Big Month for Utah Ski Resort Property Sales

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

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THE NEWS April was a big month for the Utah Ski Resort Real Estate Market.  With a number of areas setting six month highs in units sold, median sales price, price per sq. ft., and fewest days on the market, the upcoming summer sales season could be a hot one.

In addition, Utah’s terrific ski season and snowfall (at least in comparison to the last few meager years) have the lakes and rivers full, the valleys a lush green, and promise a delightful summer for those shopping for property.  As of this writing, Snowbird is still open Thursday through Friday, through the end of May.

Little Cottonwood Canyon, home to Snowbird and Alta, and the Salt Lake City bench areas around the Canyon, saw a six-month high in April in terms of units sold at thirty-one, and a low for median days-on-the-market at eight.  Property sold in the Park City/Deer Valley area reached a six-month high of $502.00 per sq. ft., which is also very close to the all-time high.  There were forty-nine units sold at the Canyons, a six-month high, and the median days-on-the-market dropped to 25.  Big Cottonwood Canyon, where Brighton and Solitude host skiers and riders, saw a six-month high of $369,000 for median-sales-price.

Moving north into the Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, there were also benchmarks in property sales.  The Valley and surrounding bench areas consistently offer some of the best values in Utah ski country.  The median sales price of property sold in April in the Ogden Valley reached a high of $383,000, and did the median price per sq. ft. of $130.00.

The Ogden Bench area and Mountain Green, only minutes from Snowbasin and the Ogden Valley, reached six-month highs in units sold at eighty-six, median sales price of $187,000, price per sq. ft. at $88.00, and a low for days-on-the-market at 19.

Contrast the $502.00 per sq. ft. in the Park City/Deer Valley area with $130.00 in the Ogden Valley area and $88.00 on the Ogden Bench and it’s obvious there is a price point that will fit the pocketbooks of many shopping for property at, or close to, the world-class skiing all of these resorts offer.

The comparative statistics mentioned above, and more, can be perused by clicking here.  These real estate sales statistics are updated monthly

Stay tuned, it should be a great summer sales season for real estate in Utah ski country.






Many Research Tools Available to Utah Ski Property Buyers

posted in: Utah Ski Property News | 0

Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate. 

THE NEWS For those interested in the purchase of property in Utah’s ski country, there is a wealth of research tools and material that are available with a click on your computer or smart phone.

A knowledgeable real estate agent dedicated to assisting you in finding the property that best suits you is indispensable – both in locating the property and then in navigating the daunting, arduous process of making offers, counter-offers, writing addendums, and actually closing on the property. But there are numerous, highly informative and helpful tools a prospective buyer can utilize to initiate and refine their search while looking for that “perfect fit” of an agent.

The MLS, or multiple-listing-service, used to be accessible only to real estate professionals.  There is now a public MLS for Utah (www.utahrealestate.com/index/public.index), which allows anyone to search through the vast majority of listings (everything other than “For Sale by Owner”/FISBOs) that are available.  Searches can be refined by zip code, type and size of property, price, etc.

There are three privately or publicly owned national online listing services which are also very helpful, and do feature FISBOs and adds/promotions for certain agents who pay for the exposure.
These listing services are http://www.zillow.com/; www.trulia.com/, and www.realtor.com/

And of course there are numerous hard-copy real estate magazines available in most local areas which feature many properties.

The Utah Ski Country Real Estate Comparative Statistics, a feature of this blog, allows prospective buyers an opportunity to compare vital sales statistics such as median price, price per sq. ft., days-on-the-market, etc., for the different ski resort real estate markets.  This data is updated monthly and shows comparisons with the previous six months data.

Armed with the statistical sales comparisons of the geographical areas you are interested in, and after researching and perusing the properties listed on the MLS and other listing services that fit your criteria, it’s time to locate the real estate agent/agency that will best suit your needs.  As with many professions, there are excellent, highly knowledgeable, dedicated  hard-working real estate agents in the area(s) you have an interest in.  And there are likely quite a few who do not fit that description.  Ask questions.  Carefully examine agent and agency websites.  Look at sales histories.  Talk to references of at all possible.

Again, the real estate sales process is highly regulated, detailed and labor-intensive, and a real estate professional, if not absolutely necessary, is a terrific asset.  It won’t cost you a penny, as the seller pays the agent’s commission. There is no good reason not to hire an agent.

Is Utah Ski Country Real Estate Cooling While the Powder Keeps Falling

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate.

THE NEWS The Utah ski season is living up to what the optimists and dreamers envisioned, and as spring rapidly approaches, powder days continue to pile up.  At the same time, a few chinks have appeared in the previously red-hot resort real estate markets, particularly in the Park City/Deer Valley areas.

It’s not that the snowfall at Utah resorts this season has been epic, which it hasn’t…or even much above average, which it hasn’t.  But after one record-setting dry, warm year and a few others below par, the multiple powder days and significant bases so far this season are providing real joy for skiers and riders.

On the Utah ski resort real estate front, there is some puzzling news.  Good snow, the opening of the Quicksilver gondola  connecting The Canyons with Park City and creating the largest ski resort in the country, the additional amenities Vail has provided for Park City and The Canyons – and yet the statistics for December and January real estate sales show significantly declining numbers in the Park City/Deer Valley market..

The Utah Ski Country Real Estate Comparative Statistics for January 2016 for the Park City/Deer Valley market shows that the median sales price dropped to $500,000 from a high in October 2015 of $1,408,000.  Unit sales dropped to 11 from a high of 28, also in October of last year, and the median price per square foot dropped to $354.00 from a recent high of $412.00.

An aberration…or a trend?  Hard to tell.  Looking at the statistics for other Utah ski resort markets offers few clues.  The Canyons and Alta/Snowbird/Salt Lake City Bench show consistent sales numbers over the past few months, including January 2016.  The Ogden Valley market, home to Snowbasin and Powder Mountain, also shows no major movement in the statistics over the past few months, and property in this area remains hands down the best value among the major Utah ski resort markets.

With the current, substantial bases, and if the snow keeps falling, Utah should have an excellent spring ski season.  Real estate activity usually picks up during this period – so stay tuned to this blog and the Real Estate Comparative Statistics.

Utah Ski Season Real Estate Market, Big Snowfalls Coincide

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate

THE NEWS The holidays are over, the winter real estate market at Utah ski resort areas is heating up, and it’s happening as the snow keeps piling up.

Skiers and riders are descending on Utah ski resorts in droves, surely in large part due to the terrific early season snow.  And likely because of the new lift connecting the Canyons and Park City resorts…or the proliferation of Epic Passes and other changes caused by Vail’s purchase of the two ski areas…or Deer Valley’s purchase of Solitude. The numerous, recent articles singing the praises of Ogden as a top ski town and the Ogden Valley’s Snowbasin and Powder Mountain are also attracting numerous visitors.

Everything seems to be coming together for an epic ski season in Utah…a season that should significantly impact the resort real estate market.  When visitors experience the copious amounts and quality of the “greatest snow on earth”, the easy access to the slopes from the Salt Lake City airport, the excitement and choices of a night-on-the-town in Park City, the amenities of Deer Valley, the lifts, lodges, food and terrain of Snowbasin, the vast powder stashes of Powder Mountain – well, some are sure to decide to put down roots.

The real estate market in the Park City, Deer Valley and Canyons market is red-hot, with prices well up from a few years ago.  A seller’s market.  At the same time there are still terrific deals in the Ogden Valley/Ogden bench areas, as well as Sundance and the southern Utah areas of Brian Head and Eagle Point. A buyer’s market.

If the snow continues and all the other positive influences do, in fact, create an epic year for Utah’s ski industry – the real estate market could reach a critical point in terms of decision-making for those considering entering, as either seller or buyer.  Stay tuned to this blog for further developments and monitor the real estate market Comparative Statistics.

Major Snowstorm and Nation’s Largest Ski Resort Both Arrive in Utah to Open Season

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate

THE NEWS As this blog is being written, the mountain’s of Utah’s ski country have been pounded by 2′ – 4′ of powder over the past week, more storms are lined up for the coming week, and the Quicksilver Gondola, which connects The Canyons at Park City with Park City Resort, is open.  The largest lift served terrain in the lower 48 is now in Utah – over 7,000 acres!

Back to real estate after the Holidays!!

Merry Christmas and Happy New Year!!!

Park City/Deer Valley Property Prices Sky High While Snowbasin, Powder Mountain a Bargain

posted in: Utah Ski Property News | 0

Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate

THE NEWS Snow is falling in Utah, real estate prices in the Park City/Deer Valley area continue to rocket upward, while the beautiful, pristine ski mecca of the Ogden Valley continues to be a true bargain for property buyers.

The “Vail Effect” (Vail now owns Park City and The Canyons) with all the benefits of the Epic Pass, the new gondola that will connect The Canyons with Park City, creating an enormous amount of interlinked, lift-served terrain, the improving economy, etc., etc. – there are plenty of theories.  But the fact is the median sales price and cost per sq. ft. continue to rise to record heights in this resort area.  The October statistics show a median sales price of $1,407,000 and a cost per sq. ft. of $401.00 for the Park City/Deer Valley market.

At the same time, in spite of a rising number of articles lauding the skiing, beauty, amenities and lack of crowds at Snowbasin and Powder Mountain – the Ogden Valley, the area that both resorts perch above, continues to offer property prices that are shockingly low. In stark juxtaposition to the October median sales and per sq. ft. prices of $1,407,000 and $401.00 for the Park City/Deer Valley area, prices in the Ogden Valley were $400,000 and $143.00.

One of the most recent articles, entitled Utah’s Hidden Gem, appeared on October 16 in the Financial Times.  Christopher Solomon, the author, pened the following statements.

“Snowbasin has some of the best terrain, the fastest lifts, the most delicious food of any ski resort in North America.  It’s slopes are so barren that you could race a tumbleweed downhill.”

“Snowbasin’s lodges further confounded me.  They are massive piles of stone and timber, outre’ in their ponderous grandeur.  Earl’s Lodge, the base lodge named for the resort’s late owner, Earl Holding, has wall-to-wall English Wilton carpet, golden sconces and wardrobes big enough to access Narnia through.”

A month ago, a major article appeared in Delta Airline’s on-board magazine praising Powder Mountain as one of the best secrets in North American skiing.

At some point, real estate prices in the Ogden Valley/Snowbasin/Powder Mountain area are sure to explode.  Nothing this good stays a secret forever.  And there’s plenty of room for a big upward surge, which should be on the radar of anyone thinking about buying property in Utah’s ski country.

In other news, the snow has begun to fall in the mountains of northern and southern Utah, it’s cold enough that the guns are blasting out the white stuff, and it’s less than a couple of weeks until the season opens at many resorts.  The most anticipated event – the opening of the gondola that will connect the Park City and Canyons at Park City (new name courtesy of owner Vail) resorts.

Utah’s Ski Country – More Big News This Season?

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate 

THE NEWS After the mega-deals and huge news from Utah’s ski industry and resorts over the past couple of years, will this ski season bring even more consolidation, acquisitions and development?


Excellent question.  In Big Cottonwood Canyon Brighton would seem to still be in play as an acquisition target, but most of the conjecture is likely to be focused on the Ogden Valley and its three resorts – Snowbasin, Powder Mountain and Nordic Valley (formerly Wolf Mountain after it was Nordic Valley for decades).  With Vail’s acquisition of The Canyons and Park City, Deer Valley’s purchase of Solitude, and the sale of Snowbird – the resorts just east of Salt Lake should make less news this season than over the past two.

The interest and intrigue surrounding Powder Mountain has to do with development rather than acquisition.  Since Summit Powder Mountain purchased the resort, development of infrastructure, a base village and homesites has either begun, been promised, or rumored.  Along the way, a controversial bond issue and struggles over water rights and use have both impacted and clouded the picture.  The planned development that has been made public is extensive, and when/if completed, should have a major impact on the local real estate market, both at Powder Mountain and in the Ogden Valley.  Stay tuned.

Nordic Valley was purchased out of bankruptcy a few years ago, and there were big plans released for its expansion and development.  Perhaps plans that were too big.  Nordic is now rumored to be for sale again.

And then there is Snowbasin, the proverbial 1,000 lb. gorilla in the room.  Host to the downhill, super-g and combined events in the 2002 Olympics, the resort has some of the most spectacular and diverse ski terrain anywhere, a fast, efficient lift system featuring two gondolas, elegant lodges with spectacular food…and very few lift lines.  All Snowbasin needs is the long-anticipated base village with lodging to catapult into the elite of US ski and four-season resorts.

There have always been plenty of rumors, even a highly detailed master plan and subsequent county approvals.  But no shovel in the ground, and no definitive, reliable start date to bank on.  When and if the development does happen…there is little doubt real estate activity and prices in the Ogden Valley will be significantly impacted.

Property prices continue to inch up in the Ogden Valley, but at around $150.00 pre sq. ft., the values are still exceptional.  There is a great deal of new residential construction underway, and with or without Snowbasin’s development, it’s just a matter of time before prices escalate significantly.

Utah Ski Property Market Active as Big El Nino Winter Approaches

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate
 
THE NEWS The real estate market is robust in the majority of Utah ski areas as the snow season, hopefully fueled by the affects of a major El Nino, rapidly approaches.

The two questions on the minds of many with an interest in the property market at Utah’s ski resorts are 1) how much snow will the winter bring, considering the predicted strong to extremely strong El Nino, and 2) what effect will the “Vail Effect” have on the market.  It’s anyone’s guess which prediction is the more difficult to get right.

Joel Gratz, skier and meteorological guru, recently published detailed maps, graphs and predictions for seasonal temperatures and precipitation from three of the most respected worldwide weather services on his blog, www.opensnow.com.  The models of NOAA, CFSv2, and JAMSTEC vary somewhat, but the margins of error related to relatively small geographical boundaries indicate the possibility of a heavy snow year in all, or parts, of Utah.  At the least, none of the models point to anything close to the snow drought of the 2014/2015 season.  There is no disagreement that the El Nino will be strong to very strong and it will have a major impact.  It’s just a matter of where the lines for average and above average temperatures and snowfall actually materialize. 

A big snow year always gives a major shot-in-the-arm to the ski resort real estate market.

“The Vail Effect” refers to how much the acquisition of The Canyons and Park City Resort by Vail, the lift that will connect the two areas for the upcoming season, and the additional development that has been announced – will affect the real estate market.  The Epic Pass, now good at Park City and The Canyons at Park City (new name), and the lure of Utah’s famed powder and easy access will surely bring in more property buyers.  But how many current Park City area residents and property owners will decide to leave the crowds and traffic for a more peaceful…and perhaps less expensive…resort lifestyle?  Watch the real estate market in the Ogden Valley.  Peaceful, beautiful, terrific skiing and riding.  And the prices….

 

Utah Ski Country Real Estate Vibrant as Canyons Becomes Park City

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.
 
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THE NEWS Records in sales and values are being set in the Utah Ski Country real estate markets, while The Canyons ski resort has been renamed Canyons at Park City.

Median sales price in the Park City/Deer Valley market reached a new high in July during the current real estate recovery at $414.00 per square foot. The Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, also set a new high for median sales price, but only at $170.00 per square foot.  This means a buyer pays 60% less in the Ogden Valley for a property than they would for a similar property in the Park City/Deer Valley area.  The Ogden Valley remains the best deal in Utah Ski Country, with world-class ski resorts above a beautiful, idyllic valley and a large recreational lake.  But it could be that prices on the rise will make great deals in the Valley harder to come by.

Units sold in the Brighton/Solitude/Big Cottonwood Canyon/Salt Lake City bench market reached a high of 81, while the median days on the market dropped to 18.  With some minor exceptions, the Utah Ski Country real estate market continues to strengthen.  The recovery has been fairly consistent and enduring.  For anyone thinking about buying…or selling…this might be the time to make a move.

For all the July real estate statistics in Utah’s ski country, go to  Utah Ski Country Real Estate Comparative Statistics.

Vail Resorts has announced that The Canyons ski resort, which they recently purchased along with  Park City ski resort, will be known as The Canyons at Park City.  This announcement comes as excitement builds surrounding the lift system nears completion that will connect the two resorts.  The connection will be operational for the 2015/2016 season.

Real estate insiders in the Park City/Deer Valley/Canyons market are still waiting to determine the fallout from the Vail Resorts takeover, lift system connection and the new development that is scheduled.  There is no doubt many new potential property owners will be attracted to the area…but it is also likely that some long-time residents and property owners will decide to escape to more peaceful and less congested resort areas. 

Summer Real Estate Sales Kicks Off With A Bang in Utah’s Ski Country

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Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.

Search for Utah Mountain and Ski Resort Real Estate

THE NEWS The summer real estate sales season kicked off in Utah’s ski country with new benchmarks in units sold, median sales price, and fewest-days-on-the-market in a number of resort area markets.

In the Little Cottonwood Canyon/Alta and Snowbird market, the median days-on-the-market in June for dropped to a six-month low of 27 days.  Big Cottonwood Canyon’s Brighton and Solitude market also had a six month low in this category, dropping to only 22 days.

At the Canyons, which will be connected to Park City’s ski resort next season by a lift now under construction, the median price of properties sold in May jumped to a high of $725,000.

The Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, saw the number of units sold reach a six month high of 20 and the median price-per -square-foot a high of $140.00.  This is still less than half the comparable price-per-square foot price in the Park City/Deer Valley and Canyons markets.  Great value in this market!

Just over the pass from the Ogden Valley, along the Ogden bench and Mountain Green, units sold also reached a six month high of 74, and the median price of units sold increased to $204,000, almost twice what they were in this same market in January. Snowbasin is a 15 minute drive from many areas of the Ogden bench.

You can peruse all the statistics referenced above and many more at Utah Ski Country Comparative Statistics.

In other news, Vail Resorts, who recently acquired what was Park City Mountain Resort, announced the name will change to Park City Mountain.