From Park City to Alta to Snowbasin - Little Change in the Real Estate Buyer's Market

Utah Ski Country Real Estate Comparative Statistics: Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market.  This data is organized by ski resort area

Search for Utah Mountain and Ski Resort Real Estate

The News

There is some good news for sellers of ski resort real estate in the Park City/Deer Valley market, based on a few promising trends, but throughout much of the Utah ski resort market it is still a buyer's bonanza, with some prices reaching newly dramatic lows.

According to realtytimes.com Market Conditions, overall real estate sales volume in the Park City/Deer Valley area is up over 6% from 2010 figures.  This blog's Utah Ski Country's Real Estate Comparative Statistics shows median sales price has been on a steady upward trend over the past few months in the Park City/Deer Valley area, and median days on the market has been steadily declining.  Other Utah ski resort areas with similar, though less dramatic trends in median sales price and median days on the market are the Alta/Snowbird/Salt Lake City bench areas and  The Canyons/Kimball Junction/I-80 area.

A ski resort area that doesn't show promising property sales trends is the Ogden Valley.  This magnificent, pristine and unspoiled valley is home to big-time skiing and riding at Snowbasin, Powder Mountain, and Wolf Mountain, as well as recreation on Pineview Reservoir, which covers much of the Valley’s floor.  Less than an hour from Salt Lake City International Airport, fifteen minutes from Ogden and 45 minutes from Salt Lake – it’s a mystery why this area is suffering through a still declining market, with little good news or promising trends.

A recent sale involved a 1.75 acre lot, high on a ridge, in a gated community, with stunning views of the Valley, Pineview Reservoir, the jagged peaks of Snowbasin, and world class sunsets.  Originally listed at $725,000 at the height of the market, it sold for $150,000.  Numerous other statement homes and beautiful, fully developed lots are available at dramatic discounts. 

So why is all the money that everyone agrees has been sitting on the sidelines still sitting…with such amazing deals available on quality properties?  There are plenty of people with significant wealth.  Baby Boomers are beginning to retire and many of them have not been wiped out by the downturn.  Interest rates are at reord lows.  What will get this market moving upward? 

Everyone seems to agree the inventory, particularly of bank and short sales, needs to be reduced.  And the uncertainty of the U.S. and global economy surely isn't helping.  The guess here is that whenever the tipping point is reached - possibly as a result of inflation's rising prices and rates, or the inventory is significantly reduced and demand passes supply, or investor's have tried everything else but real estate - the ski resort property market could rebound with vigor. 

Park City: Park City Mountain Resort reports on their website that they have invested over $7 million in improvements for the 2011-2012 winter season, with "a continued comittment to creating unsurpassed and environmentally friendly on-mountain experiences."  Major improvements include the addition of a dedicated beginner learning area serviced by two conveyor lifts, replacement of the 3 Kings lift, additional snowmaking and grooming equipment, and a continued dedication to renewable energy sources.

Deer Valley: Deer Valley's lift-serviced mountain biking and hiking expanded trail access is now open, along with scenic chairlift rides.
Sundance: Many property prices at ski resorts have dropped precipitiously, but Sundance may be the exception.  There were originally nine lots in the Ridge Lots at Sundance Preserve.  Seven have sold, and the two that remain are priced at $1,975,000.

Utah Ski Resort Property Prices and Activity

According to Forecastcart's Utah property predictions, prices should decline on average 5.4% during 2011, which is continued good news for buyers and bad news for sellers.

Summertime Fun to Combine With a Property Tour

 (From utahskiandsnowboard.com)

Salt Lake City, UT - Even though two of Utah's ski resorts, Snowbird and Snowbasin, remain open for skiing and riding on weekends, the summer season is well underway in the state. Utah resorts are starting to provide an array of summer activities perfect for all ages and energy levels. Find a haven from the heat at your favorite Utah resort with the following activities:

ALTA SKI AREA

Alta Ski Area is open to the public all summer long for hiking and biking. Enjoy a brunch on weekends at the Alta Lodge. The famous Wasatch Wildflower Festival will also take place July 29-31, 2011.

BEAVER MOUNTAIN

Beaver Mountain, located in Logan Canyon en route to the stunning azure waters of nearby Bear Lake, rents their ski lodge, yurt and four 10-person tents for visitors, youth groups and family reunions all summer long. In addition, Beaver Mountain has a campground with tent sites and RV hook-ups for rent all summer.

BRIAN HEAD RESORT

Brian Head Resort, located 15 miles off I-15 at Utah exit 75 or 78 is a great place to beat the heat this summer. With average summer temperatures in the 70s, Brian Head Resort offers many on-mountain activities including scenic lift rides, mountain biking, hiking, disc golf and the new self-guided "Brian Head Family Adventure,” earth-science and natural-history focused activities ranging from orienteering to learning about petroglyphs. Brian Head also boasts extensive ATV trails, dining daily throughout the summer and various special events.

BRIGHTON RESORT

New this year, Brighton will operate a store/café at the base of the resort from 9 a.m. to 7 p.m. serving grab and go items as well as a lunch menu. The store will also sell small items such as sunscreen and bug spray to make visitors’ days more comfortable.

CANYONS RESORT

Beginning June 17, Canyons will be open seven days a week. New this summer, Canyons‘ guests can explore phase one of a mountain bike park, a zip line circuit, a guided hiking program leading day and overnight hikes, paddle boating on the reservoir, and 18-hole miniature golf in the Resort Village. In addition to these new activities, the Resort will continue to offer gondola rides, lunch at Red Pine Café, mountain biking, disc golf, hiking, events and free concerts throughout the summer.

The Farm, Red Tail Grill, and Red Pine Café will also be open for dining and the Park City Farmer’s Market will remain Wednesdays from noon to 6 p.m. in the Cabriolet parking lot. Canyons will also host a July 3 celebration with a free concert and firework show, and starting July 16 through Sept. 3 free Saturday evening concerts.

DEER VALLEY RESORT

Deer Valley Resort will open daily for the 2011 summer season on June 17, and continue through Labor Day before reopening for an additional weekend on Sept. 10 and 11, conditions permitting.

Those visiting Deer Valley this summer will enjoy over 60 miles of lift-served mountain biking and hiking as well as scenic rides on three chairlifts this summer, with the addition of Ruby Express chairlift and an expanded trail system. Ride the Silver Lake Express chairlift or drive to the Royal Street Café for a mid-mountain meal on the deck. Royal Street Café will be open June 17 through Labor Day, serving lunch daily from 11:30 a.m. to 2:30 p.m. The menu features appetizers, salads, paninis, Deer Valley's famous Turkey Chili, specialty entrées and creative cocktails.

New this year, Deer Valley Grocery~Café serves on-site and to-go fresh baked pastries, specialty coffee drinks, soups, chilies, stews, salads, paninis, homemade breads and other bakery items. Enjoy the view and mountain air while dining lakeside on the outdoor deck. A limited variety of gourmet grocery items, specially prepared take-away entrees and desserts as well as wine, beer and liquor are available. Deer Valley Grocery~Café is open daily and located in the Deer Valley Plaza building in the Snow Park area.

EAGLE POINT RESORT

Eagle Point Resort operates Friday through Sunday from June 3 until Labor Day offering guests its "Adventure: As You Wish" program. Stay at the condos at Eagle Point or visit for the day while enjoying hiking, biking, fishing, paintball, mountain disc golf and fine dining at The Outpost Grill. Eagle Point will host live entertainment and special events on Saturdays at The Outpost Grill throughout the summer and is available to host private events, weddings or group outing at The Canyonside Lodge.

PARK CITY MOUNTAIN RESORT

Park City Mountain Resort's family adventures include one of the country's longest Alpine Slides, Utah’s only Alpine Coaster, the ZipRider soaring 110 feet above the ground, and lift-served mountain biking, hiking and scenic chairlift rides via both PayDay and the Town Lifts. The Resort Base area offers adventures for all ages including a climbing wall, miniature golf, Legacy Launcher trampoline and Little Miners Park. This summer, Park City Mountain Resort will introduce two new adventures. The Flying Eagle Zip Line and Adventure Zone are slated to open later this summer.

POWDER MOUNTAIN

Powder Mountain Resort is transforming its 8,000-foot elevation ski runs into motocross mania for the Third Annual Monster Energy Powder Mountain Motocross. The resort, along with event partner Monster Energy and title sponsors; Scott Sports, BTO Sports, and 5050 BMX, will host the high-elevation race Aug. 18-21, 2011.

Powder Mountain will offer Summer Safari 4 X 4 Adventure Tours as soon as the 2010-2011record-breaking snowfall melts off the ski slopes and allows the tours to begin. Guided tours in an oversized four-wheel drive vehicle will take guests to spectacular sites over the 10,000 acres within the resort that would otherwise be inaccessible to the public by vehicle.

The Third Annual Powder Mountain Hill Climb will be held June 11th. The bicycle race starts at Wolf Creek Resort and climbs 3,300 vertical feet in six miles. Visit Team Excelerator for more info.

SNOWBASIN RESORT

Winter returned to Snowbasin this week with the announcement that the resort will resume skiing and snowboarding operations on Saturdays and Sundays beginning this weekend as long as conditions allow. Uplift and download service will be provided by the Needles Gondola, with primarily intermediate skiing and riding served by the Middle Bowl triple chairlift from 8 a.m. to 2 p.m.

Snowbasin will open for summer adventure on June 25. The resort's Needles Gondola will be in operation on Saturday and Sunday through September 5 for scenic gondola rides and access to hiking, mountain biking and award-winning cuisine. Dine mountain-top at the Needles Lodge on Saturday and Sunday, or have lunch at Earl's Lodge on Saturday. Don't miss the BBQ with live music and cool mountain air on Earl's Patio every Sunday afternoon.

Snowbasin's single-track trails are well maintained and wind through scenic aspen groves and gladed pines. All levels of riding are available from the base with more than 26 miles of trails that connect to additional Forest Service trails for nearly 50 miles of adventure! Enjoy lower trails with shuttle service back to the base on the weekends.

Snowbasin also offers a 9-hole disc golf course utilizing natural terrain features. There are no greens fees. Disc golf equipment and high performance bike rentals are also available in the Grizzly Center.

Snowbasin will host an endurance mountain bike race, the Mt. Ogden 50/100k, on August 27. Also returning this summer is the XTERRA USA Championships September 24 and 25.

SNOWBIRD SKI AND SUMMMER RESORT

Snowbird summer activities will kick off June 18 with the resort’s third annual Brewfest, and run through fall, including a new ropes course, Wasatch Mining Company Gemstone Mine, climbing wall, ZipRider, bungy trampoline, mechanical bull, air jumper and inflatables. The resort will also continue running the Aerial Tram and Peruvian Express chairlift and tunnel to provide access to Hidden Peak, where the resort offers mountain biking, hiking, horse-back riding and ATV tours. The resort is currently open for skiing weekends Fridays through Sundays and hopes to remain open through Fourth of July weekend, conditions pending.

SOLITUDE

This summer, Solitude Mountain Resort will offer lift served biking, hiking and disc golf Fridays, Saturdays and Sundays beginning in early July.

Scenic chairlift rides and uplift for hiking and mountain biking takes place on Solitude's Sunrise triple chair. From there, visitors may explore miles of single track on Diggler Scooters or mountain bikes, or explore some of the most geologically diverse terrain in the state by foot. Solitude's high alpine course also offers 18 holes of disc golf.

On Saturdays and Sundays, brunch and dinner will be served throughout the summer at Kimi's Mountainside Bistro, or follow a guide on a short alpine hike to the Yurt at Solitude where a chef prepares a four-course meal while guests watch the sun set on the Wasatch. For lighter fare, the Stone Haus Pizzeria & Creamery is open Wednesdays through Sundays for lunch or dinner, serving hand crafted pizzas, barbeque, Starbucks Coffee, gourmet ice cream, salads, snacks and more.

SUNDANCE

Nestled within thousands of acres of Rocky Mountain wilderness, Sundance offers some of the most spectacular hiking terrain in the West. From the rugged peaks of Mt. Timpanogos to lush waterfalls and deep canyon valleys, the terrain is sure to please all types of hikers. And with an incredible array of wildflowers and wildlife, explorers of all ages will find adventure at every turn. Visitors are free to explore on their own or join a guided hike.

Sundance Mountain Outfitters takes visitors to some of Sundance's most stunning terrain. Whether guests want to hike from the summit or explore new ground on the back mountain, these hikes are sure to please avid hikers.

Bikers will enjoy the same terrain that makes skiing and snowboarding at Sundance so amazing in winter. Ride the lift up, along with your bike and then experience some remarkable trails. Day passes, twilight passes and season passes are available.

Sundance also offers scenic lift rides, including full moon lift rides, horse backing riding and fly fishing.

UTAH OLYMPIC PARK

Utah Olympic Park's Freestyle Training Pool in Park City is home to several multi-day Freestyle and Freeride Camps throughout the summer season. These camps and programs offered by FLY, AXIS and others provide progressive instruction for those interested in pursuing freestyle or freeride.

Youth Development programs are also offered at Utah Olympic Park this summer in bobsled, skeleton, luge and ski jumping.