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.
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.