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Park City Luxury Real Estate Has Been Flying Off the Shelves in the Past 90 Days

Posted by Scott Maizlish on Monday, October 14th, 2013 at 4:26pm.

Park City Utah, in the fallWonderful News! I took a look Luxury Real Estate Sales in the past 90 days, specifically properties listed at $4 Million and Up. In the past few years, you might see one a month sell, but in the past 90 days, we have seen 17 sales, and another 4 under contract! What I really find interesting is 4 of the homes are NOT ski access property, but in off-resort neighborhoods. There is a new buyer profile coming to Park City that wants to enjoy the Park City lifestyle, but not be high up on a mountain. This was reflected in the highest price sale was a 6 bed 9 bath estate for $12,450,000. This was a spectacular home in Two Creeks off Old Ranch Road, which is NOT ski in ski out!

Savvy buyers are recognizing the values offered in the Park City Luxury Market, and with the recent historical data, the proof is in the sales numbers.

Montage Deer Valley recorded their highest sale to date at $6.37 Million for a four-bedroom, five-bathroom and 4,367 square foot home on the 11th floor. According to Jenna Markowick, Account Executive for Castillo & Ruig Communications, Montage Residence Deer Valley has brought in approximately $112 million in sales since the resort’s inception in 2010, $44 million in sales since August 2012 and has closed 30 sales this year to date. With the exception of one sale at the Belles of Empire Pass, Montage claims ownership to all the high end condo sales.

We have also seen some big prices on lots in the past 90 days. The exclusive Upper Deer Valley neighborhoods Bannerwood and Red Cloud both posted one lot sale each. Homes in these areas typically list for $10-20 plus Million.

There was a time when I would tip my hat to Aspen and Telluride for the Ultra High End Luxury Properties, but no more! Park City offers the best value and global access for the best skiing in North America.

Please contact me if you would like me to email you this data, and if you are interested in Park City Real Estate, please call me at 435.901.4309. I would be honored to represent you, and provide the highest level of service.

See you this winter!

Scott Maizlish
Associate Broker
Summit Sotheby’s International Realty
Tier One Performing Agent 2011, 2012, & 2013

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