Park City Condominium Sales for 2008 by Park City Area
Park City Area# SoldChange from 2007Average Sold PriceChange from 2007Old Town110-23%$950,632+6.8%Lower Deer Valley22-65%$935,607-21.8%Upper Deer Valley20-45.9%$2,187,484-1.4%Empire Pass26-71.4$3,039,223+33.3%Prospector34-43.3%$156,501-17.1%Park Meadows23-51.1%$889,767+2.2%The Canyons44-65.6%$801,632+41.5%Olympic Park30-37.5%$411,590-9.0%Kimball Junction97+3.2%$397,542+8.4%Pinebrook42-28.8%$353,102-13.8%Jeremy Ranch8-11.1%$731,494+27.4%
With inventories high, sellers nervous and interest rates extremely low, now is a great time to buy a home for sale in the popular Park City Utah ski community. There are plenty of buyers kicking the tires but the vast majority are hesitant to get off the fence and place an offer. Those who are getting off the fence right now are getting some great deals. Now is an excellent time to negotiate. Some sellers are more motivated than others but the only way to find out how motivated a Park City seller really is would be to put in an offer in writing with a well qualified local Park City realtor.
The number of Single family homes that sold were down by 20% in Park City Utah for the first quarter of 2008 compared to the fourth quarter of 2007 . The sold priced averaged at about 95% of the list price. The average sold price was down in the first quarter of 2008 compared to the fourth quarter of 2007 by about 7%.
First Quarter of 2008
280 Single Family homes listed in Park City Utah68 Single Family homes soldAverage List Price was $1,608,690Average Sold Price was $1,526,769Average Days on Market for sold home 154 days
Another great area at Deer Valley Resort to consider building your dream ski home would be in the Deer Crest gated ski in ski out community.? So you haven’t found that perfect ski home to fullfill your dreams then?visit Deer Crest Lots for Sale to view all the current lots for sale from all the local Park City? brokerages.
Julie Olsena Park City-Deer Valley Realtor specializes as a?Buyers Agent to help?buyers find the perfect property in the Park City and Deer Valley area and to look out for?their best interests first and negotiate for the best possible price.?
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Great News!?
New Federal Conforming Loan Limit for Summit County???
$729,750?
Effective April 1, 2008 through December 31, 2008???
Jumbo Loans are getting harder and harder to do these days with the limited liquidity and more stringent guidelines for lenders.?Stated Income loans are just about gone.?Credit requirements continue to go up.?This is a chance to get into the home you want at the best rates possible.??This can save buyers/borrowers $$ Thousands $$ of dollars per year.??
Now is a great time to consider buying your dream ski home or condo in the popular ski community of Park City Utah.? With the ski season here,?sellers who are wanting to sell their ski property have them on the market to sell.? There is a great selection to choose from as well as a some great interest rates.?
Park City offers some great value for a ski community compared to other popular ski communities.? It continues to grow in popularity so buy now before it’s too late.? There are some great new ski condo projects in which flippers are trying to get out of their investment.? I see it as a great opportunity to pick up a great deal on a great property from those who need to get out of their flip.?
I would like to introduce you to a great Park City Utah Mortgage Lender, Karen Scott at Crescent Mortgage.? She will periodically write informative blog posts here?on my Park City Real Estate Blog regarding?Mortgage Information.? I have had the opportunity to work with Karen on several mortgages and really enjoy working with her.? She truly looks out for my buyer client’s best interests first.?
I always recommend with my buyer clients who are planning to purchase real estate in the Park City area?to get pre-qualified for a mortgage.? It can make you look so much more attractive when submitting an offer which in turn?can help you in negotiating for the best possible price.? Contact Karen at 435-649-2999 or email Karen?at karen@crescentmtg.com?so she can help pre-qualify you for a mortgage Today.
If you are looking for a new construction luxury condo for sale at Park City Mountain Resort, then you will need to preview the new Silver Star project.??There is a limited amount of new construction properties near the Park City Mountain Resort.??The Silver Star is a fabulous new ski in ski out project at the base of Park City Mountain Resort with it’s own ski lift , the Silver Star.? The project offers townhomes, stacked flat condos and twin home cottages.? There is an owner ski locker room located near the Silver Star ski lift as well as a shuttle service for owners and guests.? Some of the properties are finished and several are still underconstruction.? All those properties for sale at Silver Star are re-sales so it is possible to negotiate on the purchase price.
The Red Cloud?subdivision in the Empire Pass area of Deer Valley Resort offers some of the most amazing ski in ski out lots for sale.? Build your dream ski in ski out home in the best area that Deer Valley has to offer.? Lots typically include a full Talisker Club membership as well.? Visit Red Cloud Lots for Sale?to view all currently listed lots for sale in Red Cloud?from all Park City area brokerages.
If you are looking for a spacious new construction?luxury ski townhome at Deer Valley Resort, then you may want to check out the Larkspur Townhomes built by East West Partners.? These townhomes are located in the Village at Empire Pass and are ready to occupy this ski season.? They are also a short walk to the Talisker Tower Clubhouse and are almost ski in ski out to the Silver Buck ski run and Silver Strike Express Ski Lift.