Snowbasin Development Should Have Major Real Estate Impact

Utah Ski Country Real Estate Comparative Statistics: Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past three 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

The News

Many Eyes on Snowbasin

The long-awaited development of a base village, hotel, retail, residential units, a golf course and other amenities at Snowbasin, whenever it happens, is likely to have a major, positive impact on the demand for real estate and property prices in the Upper Ogden Valley and Ogden bench areas, and should be ski industry news of the magnitute that will result in a positive impact on other Utah ski resorts.  The questions?  When will ground be broken?  And who will break it?

Snowbasin Resort Company released the master plan for the project to great fanfare, press, and an open house for the public in May of 2010.  Since that time approvals for the project have been issued by Weber County, one of two counties where the development will enventually be located.  To some, this is evidence that indicates the company is getting ready to move forward with the project.  But to others, cost-cutting during the 2010/2011 ski season related to services and mountain operations, along with the approvals, lend credence to the numerous rumors circulating that the resort is for sale.

Whenever the development at Snowbasin gets underway, and whoever is at the helm at that point, it will be big, big news in the ski resort industry and for real estate in the resort’s vicinity.

Utah Real Estate Price Projections Revised Upward

The website FORECASTCHART.com has revised the appreciation/depreciation projections for Utah home prices upward in its 4th quarter 2010 outlook.  The 3rd quarter 2010 outlook had prices decreasing over the next 12 months at a 4.36 rate, while the 4th quarter projections show a decline of only 1.74%.  FORECASTCHART.com shows a HDTFA of 4.4%, which suggests a projected range of price appreciation/depreciation from +2.67% to -6.15%.

Park City: The Park City housing market is heating up, as single family homes are up in both transaction volume and median price.  Comparing the three months ending 2/28/2011 with the same three months in 2009/2010, median prices are up almost 20% and unit volume is up 15%.

Utah Ski Country Property and Real Estate News

Welcome!!  This blog will report on news and developments that affect the real estate market and available properties in and around the ski resorts of Utah.  The latest and biggest stories, market updates from the fourteen resorts, and comparative sales statistics for each resort area for a three month period – will all be regular features.

If you are exploring the market for a house, condominium, fractional ownership, or land in close proximity to a Utah Ski Resort and the world’s greatest snow, or you are a real estate professional who works with resort properties, the wealth of targeted information found here should prove invaluable.  Our pledge is to report on what is important to you, provide data and information difficult to locate elsewhere, and provide updates on a timely basis.

Utah Ski Country Real Estate Comparative Statistics

Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past three 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.

The News

Forbes and Fortune have both recently rated Utah’s economy as the most vibrant in the US.  Unemployment is relatively low (under 8%), businesses and individuals are relocating to the state, and Utah’s elevated birth rate among residents means there will be sustainable growth and demand for services, products, and residences in the future.  In short, it’s a good place to own a home, whether as a residence or investment. 

Prices are still depressed, another good situation for the buyer.  According to AtForecastCart.com and HousingPredictor.com, prices are predicted to decline in the neighborhood of 5% statewide in 2011, and should start to rebound at the end of the year when the current, excess inventory is further depleted.

Alta: Alta is now offering guided off-trail cat skiing in Grizzly Gulch Bowl, located above the resort.  One more option for those lucky enough to own a residence at the world’s powder mecca.

Snowbird: Alpin Vista is Little Cottonwood Canyon’s newest real estate opportunity.  A 14-unit whole ownership condominium development located on the Alta Bypass, the ski-out, ski-in units range in size from 670 to 1660 square feet, not including decks with stunning down-canyon views.  Alpin Vista ownership includes a two-year membership to the Cliff Spa and one covered parking spot.  Reservations are now being accepted for the development, which is scheduled to open soon.

Canyons: Canyons ski resort has embarked on its biggest upgrade in at least 14 years, which should increase the value of owning property, and the appeal of skiing at the resort.  Among the improvements are moving the base terminal of the Flight of the Canyons gondola so the walk from the parking lot lift is reduced to only a few feet, replacing the Golden Eagle chair lift with a heated-seat quad with a weather resistant bubble, ten new intermediate to advanced-intermediate runs on the northwest face of Iron Mountain that will be serviced by a high-speed quad, a resevoir with a capacity of 18 million gallons which will double the resort’s snowmaking capacity, and a public area called the Ski Beach that will be located between the base of the new gondola and the new quad lifting skiers to Lookout Peak.

Brian Head: The Westin Casuarina Las Vegas has teamed up with Brian Head Resort to offer a Vegas Shred & Bed Ski Package, which should bring more skiers and potential real estate buyers to the resort.

Snowbasin: After unveiling their multi-year master plan last year, the resort has worked its way through the approval process in Weber County, where a significant amount of the development will occur.  A base village with hotel, retail, residential units and golf courses are just part of the development, which will involve  2,000+ acres, with another 8,000+ acres of open space, located both at the resort and in the upper Ogden Valley.

Sundance: The Ridge Lots at Sundance Preserve are now being offered as the last of the single-family ski-out, ski-in lots at Sundance.

Eagle Point: Eagle Point opened for the 2010/2011 season as a new Utah ski resort, on the site of the former Elk Meadows Ski Resort.  Located in the Tushar Mountains, one of Utah’s highest ranges, the resort is a 3.5 hr. drive from Las Vegas and 6-8 hrs. from Southern California.  There are opportunities for residence and land purchases.

Utah Ski Country Comparative Real Estate Activity Statistics

Photo by Howdy Mitchell at Snowbasin

Utah Ski Country Real Estate & Mountain Living News is a new blog that will offer news, analysis, insights, opinions and comparative statistics that will help those interested in either purchasing or selling homes, condiminiums, fractional ownerships and land in and around Utah ski resorts.

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

Coming in late March – an easy way to find real estate near Utah ski resorts!!