February 2017 Newsletter

FEBRUARY NEWSLETTER

ANNUAL MARKET UPDATE

This comprehensive year end market report provides an overview of Summit and Wasatch County real estate. We strongly believe our clients should have access to information that facilitates thoughtful real estate decisions. All statistics are based upon Park City Board of Realtors MLS data for the period of 1/1/16 to 12/31/16.

The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, features, and amenities. For example, while Deer Valley and Prospector areas share the same zip code, average home prices in these two neighborhoods are very different.

Our predictions: We expect additional new developments to come to market in 2017 in the Jordanelle, Heber, and Canyons areas. Inventory will remain low in many areas, especially in Park City proper residential neighborhoods. Finally, while mortgage rates will continue to rise mildly, we do not see this trend influencing buyer demand significantly. Data interpretation, judgment, and historical context are key elements to making informed decisions. Reach-out for more information.

FEBRUARY EVENTS

UPCOMING HAPPENINGS

3RD HOME PROGRAM

3RD HOME is a private club for the owners of luxury second homes. With an average property value over $2.4 million USD, over 5,300 properties and growing, and endorsements from the top luxury residential and resort brands, 3RD HOME enables vacation home owners to travel the world staying in premier places without paying rental rates ever again.

It was created to fill a need expressed by second home owners to find a safe and trustworthy way to “expand” the use of their second homes without the hassle or expense of renting them out. 3RD HOME enables you to exchange time in your home for stays at other premier luxury destinations worldwide. By depositing weeks at your vacation home into the club, you can reserve another great home any time in advance or at the last minute. Reach out to set up your exclusive membership.

DEVELOPMENT SPOTLIGHT

Enclave at Sun Canyon, a luxury development of townhomes and single family residences within striking distance to Canyons Village, is half way through its second phase, with new builds starting at $2.225 million.The development is at the forefront of a growing trend of luxury real-estate projects that have a large nature preserve as their primary draw. The 68 acres of aspens and conifers donated for the easement by the development’s leader connects the residences to Rob’s Trail and Park City’s Mid-Mountain Trail. Both the townhomes and single family homes feature grass rooftops, engineered European oak flooring, stone fireplaces, walnut cabinetry and a surplus of windows through which to take in the setting. Make the most of this epic winter with next door access to the largest ski resort in America and backyard trail systems.

DEVELOPMENT SPOTLIGHT

Situated amid the alpine splendor of Deer Valley® Resort and Empire Pass, The Belles at Empire Pass presents 17 mountain-contemporary residences with magnificent views and superior amenities. Enjoy direct ski access to the slopes of North America’s #1 ski resort while living within steps of the exclusive Talisker Tower Club, providing world-class dining, fitness center, swimming, golf, dial-a-ride service and social club.

The Belles at Empire Pass comprises of ski-in, ski-out homes and townhomes of superior quality construction and refined mountain craftsmanship. Each residence offers generous floor plans, including multiple master suites, dual family rooms, gourmet kitchens with energy-efficient appliances, and heated decks with hot tubs and scenic views. Created by a team of seasoned architects, designers and builders, The Belles is indeed “The Belle of the Ball” in Empire Pass.

Navigating Park City’s complex market requires trusted guidance. I’m here to help you make smart decisions that realize both your real estate and lifestyle goals.

PURE PARK CITY TEAM435-901-7171 435-901-3391 | njohnson@bhhsutah.com | http://www.PureParkCity.com
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©2017 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.

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