Friday, January 11, 2013

Utah Ski Resort Property Deals Vanishing Fast


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.



THE NEWS

The terrific deals on real estate at, and in close proximity to, Utah's ski resorts, are vanishing at a rapid rate.  Foreclosures, short sales, and other significantly discounted properties are selling briskly as buyers who have been sitting on the sidelines are now trying to avoid being left out.  Far fewer distressed properties are coming on the market, so the available inventory will continue to decline, and prices will continue to rise.

Sales activity and prices continue to increase across the board all along the Wasatch front, mirroring the national trend, although some areas are emerging from the real estate recession faster than others.

Average resale prices of homes and condominiums at many of Utah's major ski resort areas are still in the $100.00 per sq. ft. or less range, including Big and Little Cottonwood Canyons and the Salt Lake Bench, The Ogden Valley and Ogden Bench, and Sundance and the Provo Bench.

With the Summit Series purchase of Powder Mtn. (December 2012 blog entry), speculation that Snowbasin may soon start that resort's long anticipated base development, and a number of recent national articles in major publications touting Ogden and the Ogden Valley's Snowbasin, Powder Mountain and Wolf Mountain resorts, this area could have some of the most dramatic real estate appreciation over the next few years.  At this point, prices are still relatively low. 

Again, time to look and buy. Don't wait any longer if you want to get in on the last of the great Utah ski property deals.

While you're looking at property, and if you have a family member or friend who wants to learn to ski or snowboard, check out Utah's ski resort's participation in January's national Learn to Ski and Snowboard Month.  Every resort is taking part with special packages, and a sampling is listed below.

Alta is offering a First Time Learn to Ski Package all season long.  For $199, first time skiers will receive four two-hour classlessons, four beginner lift tickets and four days of complimentary rental.

Park City's StartNOW has a great offer for beginning skiers and snowboarders.  For $200, the five-day program includes a lift ticket, beginner ski or snowboard lessons, and ski or snowboard equipment rental.

Snowbasin is offering the Lucky 13 Program.  For $39 an individual will receive a Little Cat Lift Ticket, two-hour group lesson and basic rentals.

As this blog entry is being published, the Wasatch is being pounded with the "Greatest Snow on Earth."  Resorts have reported up to 2 ft. over the past 24 hrs., the lake effect has kicked in, and another 1-2 ft. is expeccted over the next 24 hrs.