How About a Mid-August Market Update!?!

Rainbow Over Solamere

Rainbow Over Solamere

Since late last week we have seen 69 new properties come on the market, 25 go under contract, and 20 close. The high points are:
 
ACTIVE:
-Silver Star ski in/ski out at Park City Mtn Resort come on the market at $1.5m; 3bd/3ba, 1986 sq ft, $755psf….this is not too bad for a 3bd/3ba ski in/ski out.
-Pinnacle at Deer Valley at $955,000; 4bd/4ba, 3530 sq ft, $270psf…under $300psf is good in my book, especially for a downhill unit that will have great rental revenue!
-Promontory home at $2.5m; 4bd/7ba, 8500 sq ft, $294psf…again under $300psf is a steal! This one very well might be priced just above construction cost.
-Tuhaye home for $3.5m; 4bd/6ba, 5400 sq ft, $648psf….kind of a ridiculous ppsf for this one. Especially since the spec home inventory at Tuhaye is not exactly jumping off the market! I love the Talisker development, but not a home for $648psf.
-Another Tuhaye home at $2.75m, 6bd/6ba, 4940 sq ft, $556psf…that is a little more reasonable.
 
PRICE CHANGE:
-Old Town home down $425,000 from its original price to $1.725m; 4bd/4ba, 3106 sq ft, $555psf is a good deal in Old Town and the trend says this one will get better in due time…this is a nice home with room to grow, due to the fact it occupies almost 3 lots!
-Thaynes Canyon home down $200,000 to $997,000; 4bd/3ba, 2820 sq ft, $353psf….not a bad deal for a home with unobstructed golf course and ski run views….not to mention a motivated seller!
-Lower Deer Valley home down $200,000 to $1.695m; 4bd/4ba, 4305 sq ft, $393psf…this could end up being a good deal in Hidden Meadows.
-Deer Crossing lot at Promontory down $120,000 to $650,000…there are some good deals to be had at Promontory….they will probably get better up until the first of the year. So start looking now, let the seller bleed until November, then make an offer!
-Tuhaye home down $150,000 to $3.45m; 4bd/6ba, 6200 sq ft, $556psf.
 
PENDING:
-Old Town home at $1.045m; 4bd/3ba, 2074 sq ft, $503psf
-Bear Hollow town home at $499,000; 3bd/4ba, 2128 sq ft, $234psf…good deal in my book….with 3 resale townhomes pending in Bear Hollow over the past few weeks, maybe we are starting to see a bottom at that development.
-Park Meadows town home – Last Sun at the Cove for $2.25m; 4bd/4ba, 4345 sq ft, $517psf.
-Mountain Ranch Estates home at $1.449m; 5bd/5ba, 5048 sq ft, $287psf…not a bad deal either!
 
CLOSED:
-Glenwild lot at $625,000….people might be starting to see the value in land at Glenwild.
-Old Town condo at Towne Point for $899,000; 3bd/3ba, 1627sq ft, $552psf
-Old Town home on King Rd at $1.975m; 4bd/5ba, 4600 sq ft, $429psf…this one was a steal! Not the best finishes, but the location is great and what you could do to this home in the future is amazing.
-Tuhaye cabin at $1.8m; 5bd/5ba, 3567 sq ft, $504psf….looks like that ppsf is a little more reasonable for Tuhaye!

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Filed under deer valley, glenwild, Market Reports, old town, promontory, talisker

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