Park City Properties and Lifestyle News Blogs

Located in the scenic Mayflower Mountain Resort, Utah, Velvære is a ski-in/ski-out community adjacent to Deer Valley. With 60 acres of mountain land and a one-of-a-kind wellness experience, Velvære will offer luxury living at its finest.

The community will consist of a total of 115 residences of various sizes:

• 12 cabins of around 2,000 sq ft with three bedrooms, starting at $4 million
• 68 homes of between 2,600 and 4,600 sq ft with 4-5 bedrooms, starting at $5 million
• 35 custom-built homes of between 6,000 and 8,500 sq ft starting at $12 million

The first homes are expected to be completed in early 2024. In addition to wellness offerings in each house, the community will also have a wellness center situated on 20,000 square feet.

Future Amenities

Velvære residents will have access to a wellness center, adventure center, and in-house ski lift. Amenities include floatation pods, lymph drainage, hyperbaric chambers, yoga classes and fitness training equipment. There will be several pools including family-friendly pools and hot tubs; a restaurant; a bar; an après ski bar; and other amenities. A private lift will take you to the Mayflower area within the residential community.

Interested?

ParkCityHomeSales is excited to announce that Velvaere is now accepting reservations this Fall! Contact us at 435 640-0217 to get the first dibs on this unique residence!

Considering moving to Park City? You aren't alone, as the city has been named one of the "World's Greatest Places" in a recent edition of TIME Magazine and is frequently rated one of the Top 10 cities in the US for Jobs. 

Living in Park City, Utah, offers more than skiing and Sundance Film Festival. You'll find Park City is a booming city full of culture and each neighborhood has its own unique personality.

Let us help you prepare for your move with these need-to-know Park City facts. 

Small Town with Variety of Food Options

If you're looking for fine dining, head downtown to Riverhorse on Main or up to Deer Valley at St. Regis Bar. For a more casual experience, try The Vessel Kitchen in Kimball Junction. If you're already a Park City foodie, consider driving to Blue Boar Inn in Midway or going further to the Kamas Valley for Woodland Biscuit's famous biscuits and gravy.

Public Transportation Is Never a Problem

A prime consideration when moving to a new city is how easy it is to get around. Park City's primary mode of transportation is by car and bus. The transit bus runs 11 routes throughout the city, with an on-demand option for residents who order a ride from designated areas and are picked up within 15 minutes. The bus tracker will be your most incredible tool if you choose this option!

If you choose to drive, there are free parking spots available on the street or for a maximum of $4/hour. Download the app Go Park City to pay from your phone conveniently!

Know the Neighborhoods

History and Art

Old Town offers an artistic flare. This neighborhood has plenty to offer in the history and art scenes, making it a perfect area for those with a progressive lifestyle. The homes in this neighborhood are primarily condos and townhomes, with some options for single-family dwellings offering ski in/ski out access.

Best Park City Full-Time Neighborhoods

Silver Springs is a great place for young families. Prices vary by design and size, but the community is generally harmonious and robust. Two other nearby communities that offer full-time living are Jeremy Ranch and Pinebrook. Jeremy Ranch has an affordable golf course and easy access to both Park City and Salt Lake City. Pinebrook also has Woodward Park City, a facility for action sports lovers. So if you're searching for larger homes with extensive views and a mountain setting - Pinebrook is an excellent subdivision to consider.

Best Park City Part-Time Neighborhoods

For million-dollar homes and world-class amenities, look no further than Promontory. It's home to award-winning golf courses, The Beach Club, and some prestigious dining. 

Deer Valley offers condominiums that are big enough to be considered single-family homes, and it also has a variety of other types of homes for sale. The Canyons is another excellent location where you can live every day on vacation. This area has condos, as well as single-family homes. If privacy, security and luxury are on your list, homes for sale in the gated community of The Colony at White Pine Canyon are what you want.

Best Golfing Communities

If you have a budget of over $3 million, the Promontory area and Tuhaye provide some of the best golf courses and amenities. Glenwild is located on the backside of Silver Creek and is a private gated golf course community within Park City's school district.

Lower Taxes in Utah

Many of my clients want to relocate to a business-friendly environment with lower taxes. Because Utah has done a great job of attracting companies from coastal states, it's become a more attractive place for people who want to move away from high-tax environments.

The Weather

Park City sits 6,400 and 9,900 feet (1,950 to 3,000 meters) above sea level. The area has low humidity and an abundance of sunny days. The summers aren't too hot, and the winters aren't too cold. Park City offers a four-season paradise.

• 229 Sunny Days per Year
• The rainfall Average is 21 Inches per Year
• 350 Inches of The Best Snow on Earth per Year
• Summer Highs in July are Around 84 Degrees
• In January, Winter Temps Dip to 13 Degrees Fahrenheit

Ready to Live in Park City?

Living in Park City, Utah is about finding the right community to call home. Once you find your neighborhood, you can start to experience all that the area has to offer.

The city has developed a thriving culinary scene of restaurants and a strong community of people. It is a tourist town, outdoor enthusiast's favorite, and foodie city all rolled into one. 

Let us make relocating to Park City a reality for you.

Are you looking for a great place to easily start your Park City condos for sale "search"? Look no further. Use our handy checklist to ensure you have all the correct facts before purchasing your dream condo, with quick links to search condos throughout multiple areas of Park City, Utah.

Advantages of Purchasing a Park City Condo

Nestled against the Wasatch Mountains and 40 minutes from Salt Lake City, Park City is a premier tourist destination with two large ski resorts and an alpine village feel. In summer, it offers hiking and biking trails, while in winter, it's known for skiing and snowboarding. Each resort has a lively base area with shops, restaurants, and nightlife—and several condo communities are nearby.

The condos are privately owned, but property owners have the opportunity to rent them out to tourists. This allows them to own a piece of paradise and earn rental income at the same time.

While many people choose condos as a place to stay temporarily, others prefer them as permanent residences. Condos offer convenience and comfort, making them an excellent choice for anyone looking for a home in Park City.

Things to Know Before Buying a Park City Condo

1. Every HOA Comes with a Recurring Fee

Not everyone who owns a condo unit knows the Homeowners Associations (HOA's) concept. An HOA exists to help manage a community, its rules, and shared amenities.

If you buy a condo, you must pay an HOA fee and abide by that condo's rules and regulations for the full duration of your ownership. While some people might be hesitant to pay HOA fees, these fees can add to the property's value if they keep the community in good condition and perform upgrades that keep up with the market's demands.

2. Not All HOA's Run the Same

Every HOA is different. What rules does it have? How much does it cost? What are the amenities, and what do they include? If you're considering purchasing a condo, take the time to review the HOA's regulations before you sign any contracts. 

3. Condos Are Generally Priced Lower than Single-Family Homes

Condos may be more affordable than single-family homes, even with their HOA. Many condos are located near the city, while single-family homes in the same area tend to be quite expensive. A mortgage on a three-bedroom condo is likely to be significantly less than on a three-bedroom home.

4. Most Condos Offer Increased Security

Condo living means will feel safer because you live in a place with secure parking or gated entrances and neighbors close by.

5. Park City Condos Require Less Maintenance

Condo living in Park City means more time to play outside instead of keeping up with maintenance. There is usually a homeowner's association in which you must pay monthly, quarterly, or yearly dues. The amount of these fees varies from community to community. They are used to maintain the amenities included as part of the community, such as a pool or fitness center. Homeowner's association fees also include trash service, roof repair, landscaping, snow removal, and painting of the structure's exterior. Condo owners may also be responsible for additional special assessments for projects that their dues do not entirely cover.

6. Condos Often Form a Strong Sense of Community

Condominium communities are an excellent opportunity to get to know your neighbors. If you share a wall, you will need to exercise courtesy concerning noises. Having a good rapport with your neighbor is a great idea. Condo communities offer opportunities to meet neighbors with common interests at association-sponsored events, at the pool, gym, or while walking your dog.

7. Residents Have to Abide By The Rules

Homeowners associations can create and enforce new rules. If you buy a condo, but a new rule arises that you disagree with, you still have to abide by it. This is one of the more sobering realities of condo life. However, keep in mind that associations aren't all-powerful entities. Your community has a voice. If an unreasonable rule is brought to your community's attention for some reason, you can address it as a unified group. It's part of the checks and balances of these organizations.

8. Condos Come With Multiple Conveniences

Many condominiums are located close to shopping and nightlife. Some communities are within walking distance of bars, restaurants, and stores. High-rise condominium buildings often reserve the bottom level of the building for retail space or offices. In these instances, amenities are just an elevator ride away.

Purchasing a condo in Park City puts you close to the mountain for ski-in and ski-out access, and depending on your condo choice, you might have views of the city or mountains! 

Explore Condo Options in Park City, Utah

Deer Crest

A gated community in Park City featuring nine different communities and some brand new buildings. Deer Crest is known for its fabulous views and direct route from the Salt Lake City Airport, boasting no stoplights from door to door.

Upper Deer Valley

The area has a large number of condos within walking distance of the ski lifts, and some are farther away. Most communities have older units and newer construction with a mix of traditional and modern architecture.

Empire Pass

A newer condo community in Park City offers 550 condos, 21 unique real estate developments, and plenty of open spaces. It is located 10 minutes from Old Town and offers ski-in and ski-out access. Many units in Empire Pass have an additional perk – a membership in the Talisker Club. The club's amenities include a golf course, backcountry skiing, snowmobiling, yurts, and a spa.

Lower Deer Valley

Lower Deer Valley is home to condos, apartments, and townhomes. The area is convenient to ski resorts and other local attractions. Hikers and bikers will find plenty of trails just outside the neighborhood. Most of the homes in this area are newer, with units ranging from 800 square feet to around 4,800 square feet. Lower Deer Valley has a quiet atmosphere and is on a bus route.

Does condo life sound perfect for you? If so, consider buying a condo in Park City. With many options on the market today, you can find a "home sweet home" close to many of Utah's most attractive hangouts.

Red Pine Condominiums

Red Pine Condominiums offer well-appointed condos and lofts just a quarter mile from Canyons Village and 10-15 minutes from Park City Mountain Resort and Deer Valley. The community amenities include several pools (including a wading pool for kids) and an indoor and outdoor hot tub. You can also enjoy the picnic area and clubhouse, which offer a relaxed meal or meetup opportunity.

Park West

Park West Village is a neighborhood located in the Canyons Area. The community is primarily known for its central location, making it convenient for residents and visitors. It has a very intimate feel and many properties take in beautiful views of the surrounding mountains. Nearby transit stops allow you to reach Park City Mountain Resort and Deer Valley Resort within minutes, as well as historic Main Street, shopping areas, numerous restaurants, and grocery stores. Commuting to Salt Lake City takes only 30 minutes from this location.

Shadow Ridge

Shadow Ridge offers the perfect mix of comfort and convenience in a Park City vacation. Condos feature full kitchens, fireplaces, and dining areas, while common areas include an outdoor heated pool, indoor spa tub, sauna, and ski rental shop. When you aren't skiing at Park City Mountain Resort, you can shop and dine in downtown Park City. And the free city transit system makes getting around easy!

Kings Crown

Located near Park City Mountain Resort, King's Crown is one of the most beautiful and desirable areas in Park City. The development features signature-designed townhomes with ski access called "Crownhomes." Amenities at King's Crown include an owner's lounge, concierge service, fitness center, heated pools, sauna, kids room, and more.

Start browsing Park City condo listings today. But don't delay. If you find something that catches your eye, make sure you schedule a showing! 

The Snyderville Basin provides abundant access to trails, parks, green space, Olympic-quality recreational facilities, excellent schools, and convenient access to a myriad of shopping and dining options at the Redstone and Newpark centers. Residents in the Snyderville Basin neighborhoods enjoy easy access to Park City Proper, Woodward, and the nearby ski resorts while only a short drive to Salt Lake City.

This area is a great choice for those who want a more traditional neighborhood feel than might be found in many of the Old Town and Deer Valley neighborhoods.

Popular Neighborhoods in the Area

Canyons 

Canyons Village is the northern hub of Park City Mountain Resort and offers a resort village complete with single-family homes, condominiums, townhomes, and fractional ownership opportunities. This master planned village is programmed with high-energy activities year-round. Canyons public golf course snakes through the town and up the ski slopes. The Colony at White Pine Canyon encompasses the southern 4,800 acres of the resort and offers unique ski ranches on 5 - 20+ acres unlike any in the country. These magnificent homes provide both direct and private ski access. The Colony links Park City Mountain Resort's original terrain to the south and Vail Resort's Canyons Village to the north.

Old Ranch Road

Old Ranch Road will make you feel right at home if you're looking for wide-open spaces, larger lots, and equestrian properties. Many properties have access to Round Valley trails and proximity to Swaner Nature Preserve.

Silver Springs

The convenient location, expansive mountain vistas, level topography, and well-maintained trails and parks make Silver Springs a popular destination for full-time residents. The area is home to several subdivisions dominated by single-family homes and connected by trails and parks, including ready access to the Swaner Nature Preserve, Willow Creek Dog Park, and Parley's Park Elementary School. 

Sun Peak/Bear Hollow

The Sun Peak master planned community sits north of Canyons Village and flanks the southern edge of Utah Olympic Park. It's home to single-family homes and a neighborhood clubhouse that offers residents a fitness center, pool, tennis courts, and more. An extensive trail network provides paved access to the north and rugged mountain trails for biking and hiking at higher elevations, including Rob's Trail, which is very popular among locals. Bear Hollow is an adjacent community with condominiums and single-family homes.

Trailside

Trailside Park is situated between Old Ranch Road and Highway 40. The park is renowned for its incredible mountain biking and its very popular playground. Many homes here offer expansive views of the Utah Olympic Park and peaks of Park City Mountain Resort. Trailside is primarily a full-time residential neighborhood, offering single-family homes, an elementary school, and plenty of room to play with convenient access to the Round Valley trail system.

Jeremy Ranch

If you're looking for an easy commute to Salt Lake City, Jeremy Ranch is the place for you. Its location near I-80 and its private 18-hole golf course make the neighborhood a favorite for full-time residents. Jeremy Ranch offers wide-open vistas and plenty of sunshine, with abundant trails winding through the higher elevations. Single-family homes dominate this community, and most properties offer diverse architectural options. 

Jeremy Ranch Elementary is at the base of the neighborhood, as is the commuter parking lot. Cross-country skiing is also offered on the golf course in wintertime.

Kimball Junction

Kimball Junction is Park City's thriving commercial hub. It's a great place to live, work, shop, and play, with easy access to I-80 and Highway 224. The area includes condominiums, single-family homes, multi-family dwellings, shops, restaurants, and entertainment venues such as the Redstone and Newpark developments, Smith's Marketplace grocery store, movie theaters, and Park City Outlet Mall. Nearby recreation includes the Basin Recreation Field House, Swaner Nature Preserve, and Eco-Center.

Pinebrook

Nestled in the south entrance to Park City, Pinebrook is home to many full-time residents who commute to Salt Lake City. The rolling hillsides offer trails for hiking, mountain biking, and horseback riding. Quarry Junction has shops and restaurants within walking distance, and Woodward Park City offers winter fun, including the tubing hill. Single-family homes are scattered throughout the area, with condominium communities at lower elevations. Ecker Hill Middle School and a few private schools are also located in this neighborhood.

Ready to Explore our Homes for Sale?

Whether you are new to the area or looking to acquaint yourself better with the incredible array of real estate offerings here, I am pleased to discuss the neighborhoods in the Snyderville Basin Area and the other neighborhoods of Wasatch counties. As you will see, there is an outstanding diversity of options!

The market here is ever-changing, and the information in this article only begins to describe each and every one of our wonderful neighborhoods. If you have any questions, please reach out. I would be glad to provide you with more information about your areas of interest. Or better yet, let's set up a time to meet and take a neighborhood tour with me, your local expert!

When you think of Heber Valley, what comes to mind? Most people think of beautiful nature, but it also beckons with a wealth of outdoor activities and fine dining, all within minutes of Deer Valley and Sundance ski resorts. The area is home to three state parks, a 2002 Olympic venue, a historic tourism railroad, 90 holes of stunning mountain golf, and a Swiss-themed town voted Utah's favorite town by readers of the Salt Lake Tribune. Oh, and did we mention dining? Heber Valley has outstanding dining options that perfectly complement our variety of comfortable hotels, world-class resorts, and premier camping sites.

Although Heber is a gorgeous place to live, there are different areas in the valley that have their own vibe and history. If you're looking to move to the Heber Valley and wondering where you should live, this guide is for you. I'll go over the best neighborhoods and give brief information on each one.

Popular Neighborhoods in Heber Valley

Heber City

Heber City is a small mountain town with abundant outdoor activities and events. It has 54 holes of public golf, the 22,000-acre Wasatch Mountain State Park, six public schools, numerous private and charter academies, four grocery stores, and a combination of national and local retailers.

Most homes are single family homes with emerging condominium development also available. The Wasatch Events Center offers year-round rodeo and equestrian events and the annual Demolition Derby.

Midway

Midway is a charming historic town located in the western part of the Heber Valley. Most of its houses are single-family residences with historic homes and new construction, reflecting the town's European heritage. A large geothermal caldera at Homestead Resort attracts scuba divers year-round. Midway hosts Swiss Days over Labor Day Weekend, attracting visitors from around Utah County. 

Red Ledges

Red Ledges is home to a Jack Nicklaus Signature golf course, which surrounds the community's 300 completed homes and 100 more in the building process. The 2,000-acre community is located in the stunning Heber Valley and offers easy access to world-class skiing, outdoor adventure, and year-round activities. From luxury mountain homes to private Jack Nicklaus Signature golf course to exclusive Deer Valley Resort ski access, Red Ledges embodies Utah's coveted mountain lifestyle.

Timber Lakes

If you are looking for the ultimate recreational experience, Timber Lakes Estates is just seven miles east of Heber City in Lake Creek Canyon. About 20% of the homes here are occupied year-round by residents who enjoy easy access to everything they need. All roads are maintained year-round as well, making Timber Lakes one of the most accessible "recreational" areas within 90 minutes of Salt Lake City. The recreation opportunities are endless, with access to pines and aspens, moose, elk, and deer that roam freely. The community is six miles from Soldier Hollow or nine miles from Park City. You can enjoy skiing during winter at three world-class ski resorts: Canyons Village at Park City Mountain Resort, Deer Valley Resort, and The Olympic Legacy Facility at Solider Hollow.

Moving to Heber Valley

Heber Valley and the surrounding towns offer many opportunities for residents. When you move to Heber Valley, you will be surrounded by beautiful mountains, a large community of fellow residents, and plenty of room for outdoor recreation.

It offers a small-town appeal with the big-city convenience of being within an hour's drive of Salt Lake City. The beauty of Heber Valley is breathtaking, and there are endless possibilities to explore. You have to see it to believe it. See what awaits you in Heber Valley.

A local real estate professional is ready to help you find your dream home! Contact ParkCityHomeSales here or start your neighborhood search here.

Park Meadows has long been one of Park City's most popular neighborhoods. This area borders many iconic areas close to downtown and has a fun mix of people and activities. You can see PC Hill from here, and there are beautiful summer gardens around the holidays. Lights and music line the streets during the winter months. What could be better than living in Park Meadows? Let's explore!

Easy Access to Everything

The neighborhood is located about 30 miles east of Salt Lake City, making it easy to travel outside the area. It is also close to downtown but far enough away to give residents a sense of being removed from the hustle and bustle.

Park City Transit also provides public transportation, with buses running every twenty minutes. Residents can also explore the neighborhood on their bicycles since many people in the area use bikes for commuting or recreation. There are several bike trails in Park Meadows, whether you're commuting from point A to point B or simply riding for exercise. You might even participate in or follow along with the Tour of Utah, a popular annual road bike race held in Utah.

Park Meadows is not only easy to navigate by car but offers a great walkability score. With plenty of sidewalks and crosswalks paired with the beautiful views of the community's golf course and ski resort, enjoying an early morning stroll or walking your beloved pet is one of the many reasons residents enjoy living here.

Wide Variety of Homes to Fit Any Style

Park Meadows real estate features an array of properties from which to choose in upscale HOA neighborhoods brimming with townhomes, single-family houses, and opulent estates. Floor plans range from 1,000-9,000 square feet of living space and can be found with fine, handcrafted details and amenities like fireplaces, balconies, and temperature-controlled wine cellars. Some homes in Park Meadows are available with between two and four-car garages, and affluent buyers might be able to find an estate with a private elevator.

You Will Never Run Out of Things to Do

If you are looking for a quiet place to spend quality time with one another, you might try the parks of either Prospector or Creekside Parks, or perhaps the many scenic trails nearby. The area is known widely for its elite skiing facilities, and when homeowners are looking for more personal activity, they can go golfing at the country club. Significant cultural activities like visiting museums and art galleries are just minutes away when living in Park Meadows, and residents have their pick from dozens of close-by restaurants.

A Golf Lover's Community

The Park Meadows Country Club, featuring the popular Jack Nicklaus signature golf course, is the heart of Park Meadows. Many homes border the golf course or have views throughout the ski resorts. It's a great neighborhood anchor, providing acres of open space and water features where wildlife thrives. 

With its award-winning dining and year-round social events, golf may be the reason you fall in love with Park Meadows; its enhanced lifestyle of luxury and status makes it an exceptional place to be.

Truly Unique Shopping and Dining Experience!

As a resident of Park Meadows, you'll have access to world-class shopping and the brands you love. You won't have to travel far to find the latest trends, hottest fashion, and your weekly groceries. Park City Outlets offers favorite brands like Nike, Columbia, Polo Ralph Lauren, and Bath & Body Works. But if you're looking for something different, visit the local boutiques or gourmet markets in the area.

The dining options here are as varied as they are delicious. Residents have their choice of over 30 different restaurants — traditional sit-down service, take-out, and even cafes. Many residents will tell you they chose to live here because of the food.

Whether you prefer long summer days or long winter nights, Park Meadows offers an easy way of life that's sure to suit your needs. With recreation and leisure at your doorstep and a host of year-round community events, it's no wonder this charming neighborhood is so popular with families, retirees, and everyone in between. 

Won't you be my neighbor? As a resident of Park Meadows, you'll be in good company. Contact me now, and let's start exploring!

About Promontory

Featuring two championship golf courses, Promontory is one of Park City's most famous golf communities. It's just a short distance from Main Street and offers an exclusive skiers Alpine Member Lodge at Deer Valley and a private lounge at Park City Mountain Resort. Owners also enjoy sledding hills, an equestrian center, a kids' club, a beach club, and more.

The community has 1,924 homesites with stunning mountain views. More than 700 houses have been built, and 850 people belong to the private Promontory Club. Eight of Promontory's 34 distinct neighborhoods feature developer-built homes, known as Promontory HOMES. These include the new Portfolio of Homes in the Pinnacle at Promontory neighborhood. Pinnacle is a gated community within a gated community, offering the Ultimate in privacy, views and security.

Promontory offers a good variety of properties for sale. Buyers can choose from townhomes, cabins, or large custom estate homes.

New Property Developments

The Gallery

The Gallery neighborhood is located between the Dye Canyon Driving Range and hole 1 of the Dye Canyon Course. It's right across the street from The Village at Promontory, which has award-winning amenities like The Shed, Dye Clubhouse & Hearth Restaurant, Kids' Club 4-12, and Village Clubhouse (Village Spa, Fitness, Tennis & Ice Skating, Hot Spot Café, Pool).

Vista Point

This location is conveniently located near the Signature Nicklaus Painted Valley Golf Course, The Nicklaus Clubhouse (including The Peak, Double Deer, and The Lavender Spa), and the Beach Club. With nearby Tubing Hill, Saddle Lake Park, and Saddle Lake Walkway, your activities are endless.

The Ranches

Whether you're interested in designing your equestrian compound or prefer the privacy of a legacy home, Promontory offers you the opportunity to create your own exclusive estate within the gates of this prestigious community. At The Ranches, your building envelope will encompass 5 acres within your 30-45 acres of land, maintaining plenty of room to roam.

Painted Shores Beachside

Enjoy the beauty of the Painted Valley from your home on one of these spacious lots. Each lot is within walking distance to the Beach Club, Saddle Lake Park, and Tubing Hill, and just up the hill from Nicklaus Painted Valley Golf Course on the west side of Painted Valley Pass.

Badger Court

Badger Court offers 10 homesites on a private cul-de-sac overlooking the signature Nicklaus Painted Valley Golf Course. The homesites have stunning views of the golf course and mountains and are within walking distance of the Nicklaus Clubhouse, Fitness Center, and Double Deer.

Double Deer Cottages

A new single-story neighborhood is located on the 18th hole of the Nicklaus Painted Valley Golf Course. These 26 homes were designed with beautiful mountain modern interiors and furnishings for a turn-key solution. Each home features a separate-entry 'lock-out' master suite and wet bar. The Perch at the Cottages – a private community amenity – will be a favorite gathering spot for Double Deer Cottage residents and their rental guests.

Are you interested in owning a golf property in one of the most desirable neighborhoods in Park City? Contact ParkCityHomeSales or start your search here. 

As the market adjusts and corrects for the enormous upswings that have occurred since the beginning of the coronavirus pandemic, the Wasatch Back market has started to experience some shifts. Available inventory is finally rising after a long period of extreme scarcity, and prices are beginning to level off. 

It's worthwhile to monitor how larger economic forces, such as mortgage rates and stock market volatility, will shape our area as the local real estate market continues to recover.  I'll keep you updated in future market reports, and in the meantime, I hope you enjoy the following information on our second quarter market statistics. If you have any follow-up questions, please reach out!

Market Overview

12-Month Rolling: July 2021 - June 2022 | July 2020 - June 2021

Neighborhood Highlights

Unless otherwise noted, the statistics below were drawn on a rolling year-over-year basis for June 30, 2022.

The Park City single family home market showed declines in the number of sold transactions through the second quarter of 2022 versus 2021. The number of closings dropped 33%, but median prices rose 11%, keeping total sales volume 22% below the prior year.

Highlights:

• Within Park City Limits, total transactions were down 55% over Q2-21 to 162 units, but sales volume declined just 40% from $1.17 billion last year to $706 million this year.
• The median price of a single-family home across Park City rose 35% to $3.7 million.
• In the famous Old Town area, transactions were down 68% (130 to 42), as the median price set a new record above $3.1 million.
• The Prospector and Thaynes Canyon led all others for the greatest increase in median price, with Thaynes up 50% to $4.4 million and Prospector up 122% to $2.61 million.
• Snyderville residents saw a decrease in sales volume (down 23%) despite a substantial increase in the overall median price, up 22% to $2.13 million. Almost all the Snyderville neighborhoods saw declines in closed transactions, with the Sun Peak/Bear Hollow area dropping (72%) to 10 sales. Summit Park had the biggest gain - up 20% with 42 homes sold.
• Nearly one-third of the sales volume was in Promontory ($373 million). At the same time, Silver Creek Estates and Silver Springs areas saw the most significant price increases, with the median prices rising 74% and 64%, respectively. The median sale price in Old Ranch Road rose to $6.5 million, the second highest in the region behind Canyons Village ($9.8 million).
• The hotspots south and east of the metro area around the Heber and Kamas valleys showed substantial median price increases of 40% and 48%, respectively.

Check the statistics by neighborhood here.

Condominium sales prices remained strong across the market. However, in Park City and the Heber and Kamas valleys, total sales volume declined, primarily due to a lack of inventory.

Highlights:

• Condominium sales volume in Park City Limits was down 23%. The median sale price rose 15%.
• Old Town continued to be solid. Total transactions were down slightly (11%), sales volume increased 36%, and the median price rose 42% to $1 million.
• Park Meadows and Prospector were the standout neighborhood performers, with sales volume up 11% and 9%, respectively. The median price of a condominium in Prospector was up 84% to $411,000.
• Lower Deer Valley and Aerie showed strong appreciation, with median price gains of 42%+.
• In the Snyderville Basin, total sales volume climbed 42%, and average and median prices rose 50% or more. Kimball and Silver Creek South led in sales volume increases (19% and 27%, respectively), while other Snyderville neighborhoods saw sales decline due to lack of inventory.
• In Wasatch County (areas with ten or more sales reported),  Jordanelle Park doubled its sales volume over the prior year, and the median price was up 58% to $970,000.

Check the statistics by neighborhood here.

After explosive growth in 2021, land sales declined across the region, with every major area showing drops in the total number of transactions. Total sales volume remained steady or dropped in all regions except Jordanelle, where sales volume was up 70% on prices that more than doubled from the year prior. 

Highlights:

• Jordanelle showed the most activity, with 390 lots sold this past year. Those lots sold nearly twice the price of lots in the year ending 6/30/21. The median sale price was $800,000, up from $397,000 the year prior.
• Overall land sales in Summit and Wasatch counties were down 35%, while median land region-wide sales were up 74% to $704,000.
• All the major areas of the market saw a drop in transactions. Snyderville and Wanship/Hoytsville were hit the hardest, dropping by half from the previous year's total.
• Only 34 lots sold within the Park City Limits, but the lack of available lots coupled with high demand pushed the median sale price to $1.97 million, up 65% from the year before.

Check the statistics by neighborhood here.

Current Mortgage Rates

Time on Market Relative to Price

When deciding to sell your property, it's important to review comparable sales data and put your home on the market in the best possible condition. Professional staging, curb appeal, quality of photography, and ease of showing are all critical to success in this shifting market. The data below suggests we are still considered a seller's market; however, buyers are aware of the marketplace changes and expect significant repairs to be made if needed.

To get the most accurate information, be sure to consult with ParkCityHomeSales. With a bit of time and effort, you'll be on your way to finding the perfect vacation home for you and your family in Park City. 

Golf course homes are famous for homeowners looking for an upscale community with various amenities. In addition, these communities often draw serious golfers who wish to have golf as a permanent fixture in their lives. Purchasing a golf course property can be pretty stressful, but here are some tips to help you through the process.

Things To Consider When Buying A Golf Course Home

Once you've decided to move into a golf community, there are several considerations to remember. First, decide whether to use the house as your primary residence or a vacation home. If it's going to become a vacation spot where you can play golf, then you should consider Park City, where there is crisp, cool air and long summer days. Once you've figured that out, you can list must-have features and prioritize them before looking at houses on the market.

Start your home search by visiting communities to learn more about the area and whether it's a good fit for your lifestyle.

• Does the neighborhood have many families with children, or is it mostly filled with people in their late twenties or older?

• Are your neighbors friendly or reserved?

• When you buy a house, are membership fees included?

This is an excellent approach to getting a feel for the atmosphere of your potential neighborhood.

Benefits of Living in a Golf Course Community

Living near a golf course is becoming increasingly popular. Most residences are near world-class championship courses, so you can sharpen your skills with peace of mind knowing that you have a free tee time or a discounted rate. The options for living spaces are endless: from modern condos with sun porches to bright and airy mansions with spectacular vistas. 

These are some well-known benefits of living in a golf course home: 

1. Gated Community -  Golf communities often provide protection, and you can be confident that your house is always secure. The benefit is self-evident: There are gates, surveillance cameras, and trained guards to ensure no unwanted visitors approach your property.

2. Five-Star Resort Type Amenities -   The quality restaurants, bars, spas, retail centers, and more are all kept within manicured grounds for residents to enjoy. The golf course is also held in top-notch condition for anyone who plays the game.

3. Rental Opportunity - Some neighborhoods allow for the possibility of year-round rental payments should you choose to rent the home.

4. Entertainment and Events -  The clubhouse at a golf course is the center of activity, so living near one makes it easy to get to know other people in the community. 

5. High Resale Value - People like living in these communities, so they're likely to sell their homes quickly and get top dollar. The real estate market differs in every area, but golf communities tend to have higher property values.

Popular Golf Course Communities in Park City, Utah

Promontory

Promontory Club is a unique residential community located about 10 miles southeast of Park City. Although it has a Park City mailing address, it is not within the Park City School District. Promontory was designed as a community for all ages, with something for everyone to enjoy.

It has a Jack Nicklaus signature course and a Pete Dye course, each with its golf clubhouse. In addition, the Ranch Clubhouse & Spa, Kid's Cabin, the Beach House, Outfitter's Cabin, and the Shed make Promontory a fun place. Learn more at promontoryclub.com.

Victory Ranch

At Victory Ranch, members enjoy a full range of outdoor activities. Fish for trout on the Provo River or spend the night in a deluxe yurt while enjoying a catered meal in the "backcountry." Ride horses along mountain trails, mountain bikes along single-track trails, skeet shoot, archery, and tennis are also available.

Red Ledges

Located just outside the town of Heber City, it offers amenities that appeal to interests and lifestyles. Its Jack Nicklaus Signature golf course, Cliff Drysdale tennis academy, and Jim McLean Golf School draw many residents and guests. Other amenities include an equestrian center with stables, clubhouses, and pools — all open to residents.

Jeremy Ranch

This neighborhood is close to Pinebrook, shops and restaurants, and a golf course open to the public. You can enjoy a round of golf or take lessons at Jeremy Ranch Golf Club—it's just down the road from your condominium or townhome! Other activities are available in the area, like hiking the nearby trails.

Park Meadows Country Club

Park Meadows Country Club is the only private golf and social club in Park City Proper. The club features a Jack Nicklaus-designed course, a new clubhouse, resort-style pool, fitness center, and award-winning dining.

Are you looking for a home in a Golf Course Community?

If you're interested in golf course real estate, you may want to consider one of these popular neighborhoods in Park City. ParkCityHomeSales can help you find the right place for your needs and budget. Contact me now or create your search here.

Summer is here, and with it comes the opportunity to relax and catch up on things you may have missed during the busy winter months. If you are considering a vacation this year, perhaps it is about time also to consider owning a vacation home.

Why You May Want To Consider a Vacation Home Today

Bankrate explains why a second home, or a vacation home, may be worth considering:

"For those who are able, buying a second home is suddenly more appealing, as remote working became the norm for many professionals during the pandemic. Why not work from the place where you like to vacation — the place where you want to live?

If you don't work remotely, a vacation home could still be at the top of your wish list if you have a favorite getaway spot that you visit often. It beats staying in a tiny hotel room or worrying about rental rates each time you want to take a trip."

Choosing Park City as Your Vacation Home

The National Association of Home Builders estimates that more than 7.4 million Americans own second homes. Utah is one of the most extraordinary vacation states in the country, so it only makes sense that there are many opportunities to own a vacation home in Park City!

For at least three reasons, summer is the best time to buy a vacation home in Park City, Utah. First, Park City is beautiful year-round, but it shines during the summer months with fantastic weather and tons of things to do in the country's 4th Best Ski Town as named by Forbes Magazine in 2017 - but that's not all. Second, summer provides more available inventory (for sale) than other seasons. Third, home buying opportunities in summer are typically less expensive than any other time of the year. 

Where to Find a Vacation Home in Park City

People who buy vacation homes in Park City usually look for properties near private golf clubs, ski resorts, and Main Street. The area you choose depends on your personal preferences!

• Park City Mountain Resort - It is a world-class ski resort with plenty of condos and townhomes available for sale. The condos at Park City Mountain Resort have luxury amenities, private golf courses, and ski slopes nearby. And with gorgeous views of the mountains and access to skiing, hiking, and dining, these properties will be ideal for anyone who desires a luxurious mountain lifestyle.
• Deer Valley - Having a home in Deer Valley is a dream for many people. You can go hiking, biking, and skiing outside your front door any time of the year! The ski-in ski-out location is convenient, and Main Street is just 10 minutes away by car or bus. Several resort areas are scattered throughout the mountains where you can find everything you need: restaurants, shops, etc.
• Main Street -  Downtown Park City is a little ski-town oasis! It has great boutique shopping, delicious bars and restaurants, and convenient access to the slopes of Deer Valley Resort. If you're searching in this area, check out this page to explore the newest homes for sale.

Partner with the Right Park City Realtor 

Summer is when many people start looking for vacation homes, so you want to get ahead of the competition by beginning your search now.

The first step to buying a second home is working with a local real estate agent. ParkCityHomeSales can help you find a home in your desired location, and we can talk to you about the market, what homes are available and at what price points, and more. We can also walk you through all the perks of owning a second home and how it can benefit you. Start your search here or contact us directly at 435 640-0217.