Thursday, July 11, 2013

Utah Ski Resort Real Estate Surging in Sales and Prices

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

Real estate sales are surging, prices are rising, and the amount of time properties are on the market is dropping, an many of Utah's ski resort and adjacent communities rebound from the lengthy recession.


This all reflects the national trend of significant recovery in the real estate and residential construction industries, particularly in many area that were hit hard during the downturn.  But some of Utah's resort areas were initially slow to show consistent signs of  rising prices and sales, particularly when distressed properties were excluded.

June's Utah Ski Country Real Estate Comparative Statistics shows Alta/Snowbird and the bench around Little Cottonwood Canyon with a jump in median sales price and a drop in average days-on-the-market down to only fourteen.  The Park City and Deer Valley area also had a decrease in days-on-the-market, while Beaver Mountain, close to Bear Lake, showed a significant increase in number of units sold and the median price of those sales.

The most dramatic increase in activity and positive sales statistics occurred along the Ogden Bench and Ogden Valley, home to Snowbasin and Powder Mountain.  These areas have been among the slowest to recover, but are now beginning to show signs of a sustained rebound.  Median sales price and price per sq. ft. are up, while days-on-the-market are down.  The publicity surrounding the sale of Powder Mountain to The Summit Group and Powder Magazine's selection of Ogden as the #2 Ski Town in the country may be having an influence.  In any case, this pristine valley, with it's three ski resorts, Pineview reservoir, and stunning vistas, still offers some of the best deals on prime property of any mountain/resort community in the Rockies.  But indications are buyers might want to act fast if they hope to take advantage of those deals.

Summit Group to Host Annual Event at Powder Mountain

Speaking of the Summit Group - they will host their annual event in July at their new home at Powder Mountain.  Hundreds of qualified buyers will for the first time see the lovely Ogden Valley and all it has to offer.   And perhaps add more fuel to the real estate recovery.