Wednesday, August 11, 2021

Utah Ski Real Estate Market Torrid - But Wide Range in Values

The real estate market across Utah's ski country continued on a torrid pace through July, with median sale prices and median price per sq. ft. dramatically up over the past eighteen months...and at many resorts, continuing to rise. 

But there are significant price variations, depending on the resort and location.  On the high end is the Park City/Deer Valley market, where the median sales price in July was $1,425,000 and the median price per sq. ft. was $712.00.  At the opposite end of the price spectrum, Beaver Mountain's median sales price was $508,000 and price per sq. ft. was $200.00.

The real estate market in the Ogden Valley, home to Snowbasin, Powder Mountain, and Nordic Valley, has had the most dramatic gains over the past year-plus, but still remains a bargain compared to the Park City/Deer Valley area. Median sales price in July was $733,000, and the price per sq. ft. was $298.00.  That's half of the numbers in the Park City/Deer Valley area.

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.

Friday, May 14, 2021

 


 Utah Ski Resort Real Estate Markets Still On Fire

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  

Over the past year real estate sales at Utah ski resorts, and the areas in close proximity to the resorts, have been on a dramatic, upward trend.  Across categories of single family homes, condos, town homes, and land, and statistics such as sales price, price per sq, ft., and days on the market - the market is continuing its' torrid pace.

The reasons, the dynamics responsible for the market's explosion, are not that different from many areas of the country.  The term that has been coined is "lifestyle migration."  A desire to live in less congested areas and work remotely, spurred by Covid, the increased wealth and savings by the segment of the population that is the primary market for pricey resort property, and the lack of inventory in many resorts - are all contributing factors.  

The forecasts for a strong economy over the next 12-24 months as we emerge from Covid, and the continued lack of inventory points to the strong, upward trend continuing.  Sellers in these markets should be very pleased, and buyers should think about acting sooner rather than later.

Now available - statistics on single family homes and condos/townhouses in the Ogden Valley, Mountain Green, and Ogden Bench areas.  Click here to go to the Ogden Valley Lifestyle Blog.