Market Update…last week in August

Tonight Rob and I are attending the Gipsy Kings concert at Deer Valley as the second to last chance to take part in the St. Regis Big Stars Bright Nights concert series.  It’s going to be a blast! 

And don’t forget to check out our new blog layout and the new newsletter button we put at the top of the sidebar…if you give us your email address we’ll give you our little newsletter and you know what that includes?….it includes coupons for local businesses here in Park City such as Chloe Lane and Jean Louis…thank us later!  😉

During the past 5 days we have seen 63 properties come on the market, 24 go under contract, 18 close escrow. The high notes are:
 
NEWLY ACTIVE:
-2 sky lodge units at $375,000 and $399,000; both 3 bedroom, fractions (one-eighth ownership)
-Silver Star ski in/ski out at Park City Mountain Resort at $2.625m; 4bd/5ba, 3689sq ft, $711psf….the price per sq ft is not too bad, but we’ll see what happens to some of the flippers.
-Short Sale in Old Town on Park Ave for $698,000; 3bd/2ba, 1582 sq ft, $441psf….If you are looking at a condo around this price point, this could be right up you alley…with no HOA fees.
-Deer Lake Village in Lower Deer Valley at $840,000; 2bd/3ba, 1728 sq ft, $486psf.
-Chatham Hills home at $1.628m; 4bd/5ba, 4089sq ft, $398psf….I like this neighbor for being in town and having great value for the convenience and views!
-2 Glenwild lots at $925,000 and $800,000 inventory is increasing on the lot front.
-Promontory lot at $379,000….good deals are all around at Promontory.
 
PRICE CHANGE:
-Poison Creek Mercantile condo in Old Town down $300,000 to $1.695m; 3bd/3ba, 2209 sq ft, $767psf…now it is priced about right! Great building and location too!!!
-Old Town home down $200,000 to $995,000; 3bd/3ba, 2388 sq ft, $417 psf…not a bad deal for this location.
-In The Trees condo in Deer Valley down $100,000 (in just 25 days) to $1.299m; 4bd/4ba, 2415 sq ft, $537psf….make an offer on this one, it looks like they could go lower and you get good rentals here.
-2 Glenwild lots down $100,000 and $200,000 both to $790,000.
-Mountain Ranch Estates home down $735,000 (over about a year) to $2,100,000; 7bd/7ba, 7670 sq ft, $274psf…they are probably at their bottom line on this one. It is a nice home, but has some odd features…but for a steal it could be right.
-Promontory home down about $2m! This is a must go!!! at $3.5m; 6bd/6ba, 10007 sq ft, $350psf….if you are in this price point this home could be the deal.
 
PENDING:
-Sky Lodge unit at $267,000; 2bd/2ba, 1260 sq ft, one-eighth ownership…good price for this buyer!
-Old Town home at $2.9m; 5bd/6ba, 3465 sq ft, $837psf….they did not get anywhere close to this… as it was supposed to be auctioned, but maybe someone came in a took it before hand. I believe the auction was to start in the mid-$1m’s
-Deer Valley home at $2.495m; 5bd/6ba, 4960 sq ft, $503psf….Deer Valley has had good activity since the spring!
-Thaynes Canyon home at $997,000; 4bd/3ba, 2820 sq ft, $354psf…they got aggressive and lowered the price on this one a few times and got it off the market pretty quick….good buy for the right guy.
-Old Town home at $1.19m; 3bd/3ba, 1766 sq ft, $674 sq ft….good to see some activity on the end of Old Town by the Resort. Things have been slow down there.
 
CLOSED:
-Grand Lodge unit at Empire Pass in Deer Valley for $3.5m; 5bd/6ba, 3264 sq ft, $1072psf….Always over $1000psf in Empire and they have had a relatively active summer.
-Promontory lot at $800,000…..a little activity in these times out there is great news! I think people “in the know” still believe in the development.
-Old Town home at $1.312m; 4bd/5ba, 2591 sq ft, $608 psf….they priced these newly constructed homes to move and they moved them well.

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

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