Monday, August 1, 2016

Ultra High End Real Estate Sales Continue in Park City Market

It's all relative.  Super high end real estate in the Park City/Deer Valley market could be considered anything above $5M.   In the past six months we have seen 13 closed sales over this price in the Park City area.   That's over two a month in this stratospheric price range.

And just when we think the $10-11M price point is staggering, this $18M listing pended by a Buyer today!   This castle is not in Tuscany.  It is a 15,000 sf ski house in the pines in the mountains at The Colony.  Ski homes used to look like ski homes, but go figure!
"The Colony Castle"

$5.1m at The Colony
This home in The Colony is the latest ultra high end closed sale at $5.1m.   One recent condo sale was even higher! (yes, Montage)    All these sales were either in upper Deer Valley, Deer Crest, or at The Colony, with the exception of one $6M home sale in Glenwild.

The highest recent closed sale in the Park City area market was a home at Evergreen in Deer Valley for $11.5m.   Later this year the closings of pending sales at Stein Eriksen Residences will eclipse most of our annual real estate stats, with nearly $200m in sales scheduled to close

High, Higher, Highest...    Our high end real estate market is impressive by most standards, considering that the median home price in the US is $231,000, up 9 % from last year, and up 1% from the previous record of $228,000 in July 2005  (to quote CNN)

The median price of the 444 current home listings in the Park City market is $1.9M;   over 8 times the national average.   Lowest priced sfh home in our market is priced at  $429k (Summit Park), while the highest is $25M (Promontory!)  15 homes priced over $10M!

However, if you want to see what real high end real estate is all about, take a look at this:   Homes over $100M in the US market    Makes us look Cheap!

At Sotheby's, I take pride in helping Buyers find and acquire the perfect Park City/Deer Valley mountain home.   I always welcome and respect your personal referrals, and promise knowledgeable and confident guidance throughout your Real Estate search and acquisition!

If you know anyone thinking about a mountain home in Deer Valley/Park City,  I am at your service!

"AJ" Al Johnson

Sothebys International Realty
Deer Valley/Park City

435 640-6008

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