Midyear report on the outlying areas/developments of Park City

As we look at the mid-year activity in the outlying areas in Park City, we see a 50% decrease in activity but prices have increased. The area in discussion is everything past the White Barn except Jeremy and Pinebrook….so it covers Promontory, Glenwild, Old Ranch Rd, Canyons, Bear Hollow, Redstone, Tuhaye, and the Jordanelle.
SINGLE FAMILY [...]

Interesting mid-year report from Park City "proper"

While the number of sales has fallen off 39% in Park City proper (in-town), the other vital statistics have not changed much and we have seen an increase/appreciation in condo and lot #s:
SINGLE FAMILY HOMES:

2007 stats from 1/1/07 to 7/14/07
-Ave Sales price $2,376,000
-Ave PPSF sold $496psf
-Ave Days On Market 185
2008 stats YTD (though [...]

Some news and notes before the weekend

Affordable housing seems to be one of the main topics around town this week. The Planning Commission approved Talisker’s project for affordable housing on the 100 block of Marsac Ave this week, and commended the developer for their efforts…I am not sure why Talisker would get a pat on the back for being 3 years [...]

The market is heating up a bit and Promontory news

Just before the long weekend, the bankruptcy court approved dip financing that will continue operations at Promontory through January 2009. Pivotal (the current developer of Promontory, who was forced into Bankruptcy in March) provided the financing from one of their other Pivotal company…the judge ruled that the two companies, Pivotal Promontory and the other Pivotal [...]

Happy 4th and a little market update.

So as we prepare for the Forth of July, and all the festivities Park City has to offer on one of the greatest days to be a Parkite….here is a little market update:
We have seen 39 properties come on the market this week so far, 23 close, and 24 pending. The high notes are:
ACTIVE:
-Portico unit [...]

Canyons finally closes!!!

Talisker just closed on the Caynons deal. The Toronto-based developer, also developing Empire Pass, announced its intentions to purchase The Canyons from Park City-based American Skiing Company last July. Talisker completed the sale June 30 by paying ASC $123 million, a document filed Monday with the Securities and Exchange Commission states. The proceeds were [...]

Empire Pass is rolling along and no real news from the Talsiker/Canyons deal

Yet again Talisker failed to close on the Canyons. They did put up an additional $5m, to bring their total non-refundable deposit to $25m. Talisker officials were “unavailable” for comment…we’ll keep our ear to the ground to see what is going on behind the scene…stay tuned.
Here is an Empire Pass at Deer Valley year to [...]

Market update

Well since Tuesday we have seen 60 properties come on the market, 15 go under contract, and 13 close. The high notes are:
ACTIVE:-Glenwld lot for $895,000….I would imagine they have some wiggle room here on the price!-Fox Point at Redstone condo for $420,000; 2bd/3ba, 1302 sq ft, $322 psf seems a little high…there are some [...]

Rocky Mtn Resort outlook

A little over a week ago we held the Rocky Mountain Resort Association annual meeting here in Park City. Professionals from Aspen, Vail, Jackson, Winter Park, Steamboat, and Sun Valley just to name a few. The best and most informative part was a 3-hour session put on by NAR chief economist, Dr. Lawrence Yun. Here [...]

Market activity and no news from Promontory….yet

Promontory has its next scheduled court date next Monday, June 23. So while there is no news yet, next Monday afternoon should be interesting. Other than that, there are some good deals in the development, and the golf season in cranking up & running beautifully.
Just in the past day we have seen some decent activity [...]