Saturday, December 19, 2015

Major Snowstorm and Nation's Largest Ski Resort Both Arrive in Utah to Open Season

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.

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THE NEWS As this blog is being written, the mountain's of Utah's ski country have been pounded by 2' - 4' of powder over the past week, more storms are lined up for the coming week, and the Quicksilver Gondola, which connects The Canyons at Park City with Park City Resort, is open.  The largest lift served terrain in the lower 48 is now in Utah - over 7,000 acres!

Back to real estate after the Holidays!!

Merry Christmas and Happy New Year!!!

Sunday, November 15, 2015

Park City/Deer Valley Property Prices Sky High While Snowbasin, Powder Mountain a Bargain

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.

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THE NEWS Snow is falling in Utah, real estate prices in the Park City/Deer Valley area continue to rocket upward, while the beautiful, pristine ski mecca of the Ogden Valley continues to be a true bargain for property buyers.

The "Vail Effect" (Vail now owns Park City and The Canyons) with all the benefits of the Epic Pass, the new gondola that will connect The Canyons with Park City, creating an enormous amount of interlinked, lift-served terrain, the improving economy, etc., etc. - there are plenty of theories.  But the fact is the median sales price and cost per sq. ft. continue to rise to record heights in this resort area.  The October statistics show a median sales price of $1,407,000 and a cost per sq. ft. of $401.00 for the Park City/Deer Valley market.

At the same time, in spite of a rising number of articles lauding the skiing, beauty, amenities and lack of crowds at Snowbasin and Powder Mountain - the Ogden Valley, the area that both resorts perch above, continues to offer property prices that are shockingly low. In stark juxtaposition to the October median sales and per sq. ft. prices of $1,407,000 and $401.00 for the Park City/Deer Valley area, prices in the Ogden Valley were $400,000 and $143.00.

One of the most recent articles, entitled Utah's Hidden Gem, appeared on October 16 in the Financial Times.  Christopher Solomon, the author, pened the following statements.

"Snowbasin has some of the best terrain, the fastest lifts, the most delicious food of any ski resort in North America.  It's slopes are so barren that you could race a tumbleweed downhill."

"Snowbasin's lodges further confounded me.  They are massive piles of stone and timber, outre' in their ponderous grandeur.  Earl's Lodge, the base lodge named for the resort's late owner, Earl Holding, has wall-to-wall English Wilton carpet, golden sconces and wardrobes big enough to access Narnia through."

A month ago, a major article appeared in Delta Airline's on-board magazine praising Powder Mountain as one of the best secrets in North American skiing.

At some point, real estate prices in the Ogden Valley/Snowbasin/Powder Mountain area are sure to explode.  Nothing this good stays a secret forever.  And there's plenty of room for a big upward surge, which should be on the radar of anyone thinking about buying property in Utah's ski country.

In other news, the snow has begun to fall in the mountains of northern and southern Utah, it's cold enough that the guns are blasting out the white stuff, and it's less than a couple of weeks until the season opens at many resorts.  The most anticipated event - the opening of the gondola that will connect the Park City and Canyons at Park City (new name courtesy of owner Vail) resorts.




Sunday, October 18, 2015

Utah's Ski Country - More Big News This Season?

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.

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THE NEWS After the mega-deals and huge news from Utah's ski industry and resorts over the past couple of years, will this ski season bring even more consolidation, acquisitions and development?


Excellent question.  In Big Cottonwood Canyon Brighton would seem to still be in play as an acquisition target, but most of the conjecture is likely to be focused on the Ogden Valley and its three resorts - Snowbasin, Powder Mountain and Nordic Valley (formerly Wolf Mountain after it was Nordic Valley for decades).  With Vail's acquisition of The Canyons and Park City, Deer Valley's purchase of Solitude, and the sale of Snowbird - the resorts just east of Salt Lake should make less news this season than over the past two.

The interest and intrigue surrounding Powder Mountain has to do with development rather than acquisition.  Since Summit Powder Mountain purchased the resort, development of infrastructure, a base village and homesites has either begun, been promised, or rumored.  Along the way, a controversial bond issue and struggles over water rights and use have both impacted and clouded the picture.  The planned development that has been made public is extensive, and when/if completed, should have a major impact on the local real estate market, both at Powder Mountain and in the Ogden Valley.  Stay tuned.

Nordic Valley was purchased out of bankruptcy a few years ago, and there were big plans released for its expansion and development.  Perhaps plans that were too big.  Nordic is now rumored to be for sale again.

And then there is Snowbasin, the proverbial 1,000 lb. gorilla in the room.  Host to the downhill, super-g and combined events in the 2002 Olympics, the resort has some of the most spectacular and diverse ski terrain anywhere, a fast, efficient lift system featuring two gondolas, elegant lodges with spectacular food...and very few lift lines.  All Snowbasin needs is the long-anticipated base village with lodging to catapult into the elite of US ski and four-season resorts.

There have always been plenty of rumors, even a highly detailed master plan and subsequent county approvals.  But no shovel in the ground, and no definitive, reliable start date to bank on.  When and if the development does happen...there is little doubt real estate activity and prices in the Ogden Valley will be significantly impacted.

Property prices continue to inch up in the Ogden Valley, but at around $150.00 pre sq. ft., the values are still exceptional.  There is a great deal of new residential construction underway, and with or without Snowbasin's development, it's just a matter of time before prices escalate significantly.

Monday, September 21, 2015

Utah Ski Property Market Active as Big El Nino Winter Approaches

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.

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THE NEWS The real estate market is robust in the majority of Utah ski areas as the snow season, hopefully fueled by the affects of a major El Nino, rapidly approaches.

The two questions on the minds of many with an interest in the property market at Utah's ski resorts are 1) how much snow will the winter bring, considering the predicted strong to extremely strong El Nino, and 2) what effect will the "Vail Effect" have on the market.  It's anyone's guess which prediction is the more difficult to get right.

Joel Gratz, skier and meteorological guru, recently published detailed maps, graphs and predictions for seasonal temperatures and precipitation from three of the most respected worldwide weather services on his blog, www.opensnow.com.  The models of NOAA, CFSv2, and JAMSTEC vary somewhat, but the margins of error related to relatively small geographical boundaries indicate the possibility of a heavy snow year in all, or parts, of Utah.  At the least, none of the models point to anything close to the snow drought of the 2014/2015 season.  There is no disagreement that the El Nino will be strong to very strong and it will have a major impact.  It's just a matter of where the lines for average and above average temperatures and snowfall actually materialize. 

A big snow year always gives a major shot-in-the-arm to the ski resort real estate market.

"The Vail Effect" refers to how much the acquisition of The Canyons and Park City Resort by Vail, the lift that will connect the two areas for the upcoming season, and the additional development that has been announced - will affect the real estate market.  The Epic Pass, now good at Park City and The Canyons at Park City (new name), and the lure of Utah's famed powder and easy access will surely bring in more property buyers.  But how many current Park City area residents and property owners will decide to leave the crowds and traffic for a more peaceful...and perhaps less expensive...resort lifestyle?  Watch the real estate market in the Ogden Valley.  Peaceful, beautiful, terrific skiing and riding.  And the prices....

 

Wednesday, August 19, 2015

Utah Ski Country Real Estate Vibrant as Canyons Becomes Park City

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.
 
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THE NEWS Records in sales and values are being set in the Utah Ski Country real estate markets, while The Canyons ski resort has been renamed Canyons at Park City.

Median sales price in the Park City/Deer Valley market reached a new high in July during the current real estate recovery at $414.00 per square foot. The Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, also set a new high for median sales price, but only at $170.00 per square foot.  This means a buyer pays 60% less in the Ogden Valley for a property than they would for a similar property in the Park City/Deer Valley area.  The Ogden Valley remains the best deal in Utah Ski Country, with world-class ski resorts above a beautiful, idyllic valley and a large recreational lake.  But it could be that prices on the rise will make great deals in the Valley harder to come by.

Units sold in the Brighton/Solitude/Big Cottonwood Canyon/Salt Lake City bench market reached a high of 81, while the median days on the market dropped to 18.  With some minor exceptions, the Utah Ski Country real estate market continues to strengthen.  The recovery has been fairly consistent and enduring.  For anyone thinking about buying...or selling...this might be the time to make a move.

For all the July real estate statistics in Utah's ski country, go to  Utah Ski Country Real Estate Comparative Statistics.

Vail Resorts has announced that The Canyons ski resort, which they recently purchased along with  Park City ski resort, will be known as The Canyons at Park City.  This announcement comes as excitement builds surrounding the lift system nears completion that will connect the two resorts.  The connection will be operational for the 2015/2016 season.

Real estate insiders in the Park City/Deer Valley/Canyons market are still waiting to determine the fallout from the Vail Resorts takeover, lift system connection and the new development that is scheduled.  There is no doubt many new potential property owners will be attracted to the area...but it is also likely that some long-time residents and property owners will decide to escape to more peaceful and less congested resort areas. 

Sunday, July 19, 2015

Summer Real Estate Sales Kicks Off With A Bang in Utah's Ski Country

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.

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THE NEWS The summer real estate sales season kicked off in Utah's ski country with new benchmarks in units sold, median sales price, and fewest-days-on-the-market in a number of resort area markets.

In the Little Cottonwood Canyon/Alta and Snowbird market, the median days-on-the-market in June for dropped to a six-month low of 27 days.  Big Cottonwood Canyon's Brighton and Solitude market also had a six month low in this category, dropping to only 22 days.

At the Canyons, which will be connected to Park City's ski resort next season by a lift now under construction, the median price of properties sold in May jumped to a high of $725,000.

The Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, saw the number of units sold reach a six month high of 20 and the median price-per -square-foot a high of $140.00.  This is still less than half the comparable price-per-square foot price in the Park City/Deer Valley and Canyons markets.  Great value in this market!

Just over the pass from the Ogden Valley, along the Ogden bench and Mountain Green, units sold also reached a six month high of 74, and the median price of units sold increased to $204,000, almost twice what they were in this same market in January. Snowbasin is a 15 minute drive from many areas of the Ogden bench.

You can peruse all the statistics referenced above and many more at Utah Ski Country Comparative Statistics.

In other news, Vail Resorts, who recently acquired what was Park City Mountain Resort, announced the name will change to Park City Mountain.

Friday, June 19, 2015

Utah Ski Resort Property - Huge Variations in Price per Square Foot

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.

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THE NEWS The variation in price per square foot between properties in different Utah ski resort areas is jaw-dropping.  Some of this variation is understandable; but some seems to defy logic.

Perhaps the most valuable and enlightening price comparison between properties, whether in the Utah ski resort market or any other market, is price per square foot.  Whether trying to compare prices and values between properties in a single area or from one area to another, it is a quick and accurate gage.  In the real estate industry, "substitution" is the widely accepted principal holding that, unless there are special circumstances, a buyer will not pay more for a property than they will for a similar property.  This principal is also the basis of most residential appraisals and the comparative market analysis (CMA).

The Utah Ski Country Real Estate Comparative Statistics tracks price per square foot from month to month, and looking back through the numbers, there is some very intriguing information.  At the top of the price per sq. ft. ladder, a sweepstakes win for those wishing to sell and a losing ticket for those looking to buy, is the Park City/Deer/Valley area.  No surprise here.  This area gets the most exposure, does far more promotion and advertising than other areas, has 3 ski resorts and the famous, fun, restaurant and bar-loaded town of Park City and the luxurious, service-oriented Deer Valley.  Over the past couple of months median price per square foot has approached $400.00.  The Canyons, just ten miles down the road and often thought of in conjunction with the Park City/Deer Valley area, has had a median price per sq. ft. in the neighborhood of $275.00.  The Canyons and Park City Ski Resort will be joined by a chair lift for the 2015/2016 ski season.

At the low end of the spectrum for the major resort areas, and a true gift for property buyers, is the Ogden Valley.  Home of world-class ski areas Snowbasin (2002 Olympic venue for downhills, super-Gs) and Powder Mountain, the low per sq. ft. prices here are a bit of a mystery. $ 120.00 per sq. ft. is 1/3 of the property prices in the Park City/Deer Valley area and 1/2 that of The Canyons.  Granted, the Ogden Valley doesn't have the number of top-notch restaurants and bars that are found in Park City, but it doesn't have the traffic and congestion either.  The scenery is spectacular, with jagged peaks rising out of a lush, green valley with a recreational lake that covers much of the valley floor.  Think Switzerland. Magnificent, un-crowded skiing and riding on "the greatest snow on earth", boating, golf, hiking, fishing, etc., etc.  There isn't a traffic light in this idyllic valley, but it's only a fifteen minute drive to Ogden, a city of 80,000, with a Home Depot, Costco, Walmart., and a good-time "Historic 25th Street".  Another forty minutes and you're in  Salt Lake or at the SLC International Airport.  And then there is the "Valley Lifestyle" - touted by the locals.

Another great value is per sq. ft. prices is the Beaver Mountain area, at around $90.00 per sq. ft.  Beaver is a small resort, reached through a spectacular Canyon out of Logan, Utah.  But it's less than 30 minutes from Bear Lake, a large recreational lake with perhaps the most spectacular color of clear, turquoise water you'll ever see.

Take a look at the Utah Ski Country Comparative Statistics for comparisons in price per sq. ft. (and other property statistics).  This is invaluable information for anyone thinking of buying property, and it may well cause you to expand your search. 
 


Tuesday, May 19, 2015

Utah Ski Industry Acquisitions, Alliances Should Affect Property Sales

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.

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THE NEWS The summer real estate sales season, traditionally the strongest sales period of each year, is about to get underway at Utah Resorts and surrounding markets. This will be the first summer season following the dramatic ski industry acquisitions and new alignments affecting the Park City/Deer Valley and Canyons resorts.  

There is much anticipation, and more than a little speculation, about what effect the new landscape of the ski industry in Utah will have on property sales.  Here's a quick recap.

Vail bought Canyons and Park City Resort, and plans to connect the two with a lift for the 2015/2016 season.  They also plan significant additional development at and around the base village of Park City.  Folks with the Epic pass in Colorado, Utah, etc., will now have access to both Utah resorts, as well as all the Colorado, California, and European resorts on the pass.  Deer Valley purchased Solitude, and the individual entity that previously owned Park City and lost it to Vail purchased a majority ownership in Snowbird.  Deer Valley and Park City have announced they are considering a lift that would connect the resorts in the town of Park City.

So how will this flurry of acquisitions and alliances affect the real estate market in these and possibly other Utah ski areas?  Excellent question.  And, again, the subject of much speculation.  Epic Pass season ticket holders outside of Utah through Vail Resorts will have access to Park City and The Canyons, and Epic Pass holders in Utah will have access to the numerous resorts that are a part of the Epic Pass.  This will undoubtedly be an incentive for property ownership in the Park City/Deer Valley and Canyons area, and result in a population (or at least property ownership) increase.  On the other hand, some long-time residents of the Park City area might want to escape the increased crowds and traffic and move on to a more serene, hassle-free environment.  Perhaps the Ogden Valley?  With superb, un-crowded skiing at Snowbasin and Powder Mountain, stunning scenery, little traffic and low prices (price per sq. ft. 50% of what it is in much of the Park City area) - the Ogden Valley might indeed attract some to the great deals on quality properties and the "Valley Lifestyle."

The Canyons acquisition of Solitude could have an impact on property sales in Little Cottonwood Canyon and the Salt Lake City bench, depending on changes at the resort.

Real estate sales and prices are already robust in the Park City/Deer Valley and Canyons areas heading into the summer selling season.  It could turn out to be a very good summer for sellers and buyers with all the new, additional amenities that Utah's resorts now have to offer.

Tuesday, April 14, 2015

Utah Ski Resorts Real Estate Strong with Escalating Numbers

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.

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THE NEWS Activity continues to be strong related to real estate units sold, median sales price, price per square foot, and average days on the market, in a number of Utah ski resorts and surrounding areas.

The Deer Valley and Park City area leads the Utah ski property markets with some eye-popping numbers. Median days on the market are down, while the median sales price of all properties sold skyrocketed to $1,235,000.00.  The" Vail Effect" (Vail recently purchased both Park City and The Canyons and will connect them next season with a lift) is likely having a significant impact on the property market.

Units sold increased at The Canyons and days on the market decreased.

The Salt Lake City Bench around Little Cottonwood Canyon and Alta and Snowbird had an increase in units sold, median sales price, ratio of asking price to sales price, median sales price per square ft., and a decrease in days on the market.

The Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, saw units sold increase, as well as the median sales price of all properties sold.  But as the median sales price in the Ogden Valley is only 30% of the median sales price in the Deer Valley/Park City areas - there are numerous, terrific deals available.

The Ogden Bench, only a 20-30 minute drive from Snowbasin, and 30-40 minutes from Powder Mountain, also saw an increase in units sold and a decrease in days on the market.

Utah Ski Country Real Estate Comparative Statistics will give you detailed statistics on the real estate markets in each of Utah's resort areas.

An article that appeared on April 10 in the New York Times, authored by Andy Isaacson, is creating plenty of buzz in the Utah ski community, and especially the real estate community.  Much of the information in the article has been reported before, but there were timelines, progress reports, and names of investors, that have raised some eyebrows.

Thursday, March 19, 2015

Huge Sale of Multiple Ski Resorts, Including Brighton, Utah, A Possibility

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.

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THE NEWS 16 Ski Resorts owned by CNL Lifestyle Properties, including Brighton in Utah, may soon go on the sales block. 

In an Associated Press article written by David Sharp, it is reported that the real estate investment trust (a REIT) that owns the resorts is considering leaving the snow sports business and trying to put together a sale of all the properties to a single buyer or entity.  The resorts include Sunday River and Sugarloaf in Maine, Bretton Woods, Loon Mountain and Mount Sunapee in New Hampshire, Okemo Mountain in Vermont, Crested Butte in Colorado, Sierra-at-Tahoe in California, and Brighton in Utah.

According the Sharp's article, "if CNL sells them all to one buyer, industry officials say it would be the largest single ski resort transaction in the history of the sport - though skiers might not notice the sale at all."

Sharp reports that CNL Lifestyle Properties was valued as high as $3 billion in 2012, when they owned more than 100 water parks, ski resorts, marinas and senior housing developments, before the value dropped in the aftermath of a real estate downturn.  The REIT is nearing the end of its projected lifespan and anticipates having an "exit strategy" in place by the end of the year.  Last June, CNL agreed to sell 48 golf properties for $320 million and in December announced an agreement to sell its senior housing for $790 million.

The resort operators long-term leases will remain in place if the properties change ownership, so any sale should not have a significant impact on skiers and boarders at those resorts.

There is a dynamic that could emerge from the numerous, significant mergers and purchases affecting so many of Utah's iconic resorts that would have a noticeable effect on property sales.  With almost all resorts now offering multiple free ski days at multiple resorts with their season pass, prospective property owners may well buy close to a resort that offers the best season pass alliances for their preferences at the best price.

Property sales and median prices still remain strong at Deer Valley, Park City and the Canyons, although the torrid pace has slowed a bit.  Activity continues to heat up around the Ogden Valley resorts of Snowbasin, Powder Mountain and Nordic Valley, but the low prices have been slow to move upward, and there are still plenty of great deals available.  Comparisons of median prices, units sold, and numerous other statistics are available on this blog at Utah Ski Country Real Estate Comparative Statistics.



Tuesday, February 17, 2015

Huntsville, Utah Awarded Title of Best Ski Town for Real Estate Investing

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.
 
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THE NEWS  Realty Traca real estate information company and online marketplace for foreclosed and defaulted properties, has ranked Huntsville, Utah, as the best ski town in the US for real estate investing. 

Huntsville is located in the Ogden Valley, just east of Ogden, Utah, and less than an hour drive from Salt Lake International Airport.  The Valley is home to three ski resorts.  Snowbasin, a world-class ski mountain, hosted the Downhills, Super-Gs, and Combined events at the 2002 Winter Olympics, and has some of the most stunning and elegant lodges, efficient gondolas and lifts, and varied terrain that can be found anywhere. Powder Mountain has close to 8,000 acres of skiable terrain, and gets as much snowfall (500+ inches) in most years as powder legends Alta and Snowbird, and Nordic Valley is a small, but terrific mountain for families, those learning to ski or board, and racers looking for an excellent training site for slalom and giant slalom.

A large recreational lake, Pineview Resevoir, covers much of the floor of the idyllic Ogden Valley, and the surrounding mountains and craggy peaks offer numerous hiking and bike trails.  There is a top-flight golf course and a number of trout streams.  The scenery is spectacular.

Realty Trac listed the median price of distressed properties in the town of Huntsville as $169,950.00.  Median prices of all properties in the Huntsville area, as well as all of Ogden Valley, are considerably higher - but still much less than other ski towns.  And residents of the Valley and those who have second homes here consider it a true paradise.  The primary reason for the irony - the Ogden Valley is still undiscovered.

A major base development was planned (and apparently still is) for just after the Olympics, but has never been built.  Because of this, there has been very little marketing and advertising of Snowbasin outside of the local Utah area.  Powder Mountain is just now starting a multi-phase development, and again, national and international advertising and promotion have been lacking.  Numerous articles have appeared over the past few years touting the lifestyle, amenities and values available in the Ogden Valley, and also the town of Ogden.  But until there is a major national and international marketing and promotional campaign, good deals are likely to remain.  The conventional wisdom is that as soon as a shovel goes into the ground at Snowbasin for their base development, real estate prices will jump quickly and dramatically.

The city of Ogden, only fifteen minutes from the Ogden Valley through a spectacular canyon, and less than thirty minutes from Snowbasin and Powder Mountain, also offers remarkable value in the real estate market.  Lovely historic and contemporary homes on the "bench", which offer walking access to mountain trails and scenic views of backyard peaks and across the Great Salt Lake, can be purchased for less than $100 per sq. ft.  For investors, the rental market is strong, with attractive returns due to the low property prices.

Locals and property owners who love the lifestyle marvel at how long the area has remained undiscovered.  It won't last.  Nothing this good does.  If you're in the market for property at or near a four-season, mountain resort(s), whether for your use or as an investment - contact a local realtor now.

Friday, January 16, 2015

December Real Estate Activity at Utah Ski Resorts Remains Strong

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.

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THE NEWS  Real Estate activity and sales in Utah Ski Country remained relatively strong over December's holiday period, and there are encouraging signs for the months ahead for both buyers and sellers.  

The major markets of the Park City Area, the Cottonwoods and the Salt Lake Bench are still very active with prices that make sellers smile.  But at the same time, the Ogden Valley, home to Snowbasin, Powder Mountain and Nordic Valley, has property and prices available that will make buyers smile just as much.  There are still a number of great deals ready for the taking.

Highlights included the Brighton/Solitude/Big Cottonwood Canyon/Salt Lake Bench areas, where unit sales were slightly up over November and the median sales price jumped from $279,000.00 to $360,000.00.  Units sold at The Canyons were also strong and the median price per sq. ft. rose from $219.00 to $275.00.  By contrast, the median price per sq. ft. in the Ogden Valley was $148.00.  Click here for the complete list of December's Utah Ski Country real estate comparative statistics.

On the development front, most of the news over the holiday period came from the Ogden Valley.  The Summit Group, owners of Powder Mountain, opened a new restaurant, North Fork Table and Tavern, in the building that previously housed Harley & Buck's and the Wolf Creek Golf Course Pro Shop, and they are still dealing with challenges related to whether their development's water requirements and new wells will lower the aquifer that provides water to communities downhill from Powder.  Nordic Valley had their approval for planned condos tabled by the Ogden Valley Planning Commission because the building(s) did not meet height restrictions.