Luxury Real Estate Headlines: Third Week in January 2018

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

$974,900 USD | Holladay, Utah | Summit Sotheby’s International Realty

“Beautiful Holladay home close to schools. Enjoy a custom, natural cherry kitchen with granite slab counter tops, built in fridge and two dishwashers. Family room off the kitchen with custom cabinets and gas fireplace. Main floor den with built-in desk. Large master bedroom has a deck overlooking the pool and a large jetted tub in the master bath. Fun lower level party room with a home theater system that has drop down screen (includes all the audio/video components), pool table, kitchen and river rock gas fireplace. Built-in gas BBQ by the pool and hot tub. Heated sidewalk and partially heated driveway. Featuring energy saving 90+ furnaces, tank-less hot water heater and a 30k solar panel system with back up emergency power.”

Midcentury Modern on the Market – Wall Street Journal

This $9.8 Million Italian Villa Was Owned by Napoleon’s Sister – Bloomberg

This Anguilla Estate Comes with a Private Beach and Infinity Pool – Robb Report

Storied 1780 Home on Market for the First Time in 100 Years for $1.85M – Curbed

Shape Up: Five Homes for Fitness – Financial Times

Buy Another Piece of Grey Gardens History – WWD

Be the Ruler of Your Own Castle for $2.8M – Curbed

Sellers Add Art to Sweeten $74M Penthosue Deal – New York Post

Popular Midcentury Modern Homes are Fetching Top Dollar – Wall Street Journal

Want to Be in a New Vacation Home by This Summer? Buy Now. – Mansion Global

House Hunting in… Germany – The New York Times

Santiago’s Vitacura is Near the City’s Business Center But Feels a World Away – Mansion Global

How to Buy a Holiday Home in Belize – The Times

Homes That Sold for Around $1.5 Million – The New York Times

10 Gorgeous Homes That Get Luxe Mountain Living Right – Elle Decor

Sotheby’s Displays Surrealist Magritte and Rare Works by Other Artists – Reuters

Greater Park City Market Update | 2017

We invite you to review Summit Sotheby’s International Realty’s residential market update for the Greater Park City area comparing 2017 with previous years’ data. This update also provides market data for Summit County, Wasatch County, 84060, 80498 and individual Park City MLS areas.

Greater Park City – Single Family Homes – All MLS: The number of single family homes sold was up 11% year over year with 1,283 units sold and sales volume was up 15% at $1,494,577,807. The average days on market was 87 days representing a 7% reduction year over year. The average sale price was up 4% to $1,164,909 and the average price per sq. ft. was $291.

Greater Park City – Condos – All MLS: The number of condos sold was up 4% year over year with 906 units sold while total sales volume was up 14% at $701,607,987. The average days on market was 99 days and up 24% year over year. The average sale price was up 9% to $774,402 and the average price per sq. ft. was $429.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

No matter where you are in the real estate process of buying or selling, understanding the real estate trends is essential to your success in the local housing market so please contact your local Summit SIR sales associates for help!

Greater Park City Market Update | Q4 2017

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the 4th Quarter of 2017.

Market data provided includes Average List Price, Average Sold Price, Average Monthly Supply of Inventory among others for 25+ distinct Park City market areas and is broken out by Single Family Homes and Condominiums and Vacant Land.

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Ranch Road, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, Thaynes Canyon, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Ask a Summit Sotheby’s International Realty REALTOR® for help interpreting these charts.

Luxury Real Estate Headlines: Second Week in January 2018

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

$1,375,000 USD | Park City, Utah | Summit Sotheby’s International Realty

“Waldorf Astoria Penthouse Residence with Spectacular Views! This privately located penthouse residence boasts some of the best views at the Waldorf Astoria. With excellent access to the pool and exceptional outdoor living with an indoor/outdoor fireplace and deck, this property is a must see. Beautifully decorated, this open concept floor plan has two suites on the main level and a large suite upstairs. Viking appliances in the full kitchen with granite counters and breakfast bar make entertaining easy. Enjoy the hotel amenities and award-winning spa, top luxury dining, and only steps from Frostwood Gondola, for a quick ride up to the Red Pine Gondola and Orange Bubble chair. Additionally, the Canyons Golf Course is now complete and open for play. Excellent rental revenue make this an amazing opportunity for the discerning buyer.”

Golf Course Contemporary with Double-Fairway Views – Mansion Global

Resort-Style Home in Southern California Seeks $29.75 Million – Wall Street Journal

Manhattan Townhouse That Was Longtime Home of Phyllis Cerf Wagner Relisted for $24M – Mansion Global

Big Reveal: $12.9M for a French-Style Manor in Southampton – Curbed

Floating House in Naples, Florida Lists for $9.75 Million – Robb Report

P.T. Barnum Circus Partner’s Show-Stopping Estate for Sale – USA Today

Majestic 1911 Home Wants $1.1M in Savannah – Curbed

Billionaire Ken Griffin Buys Chicago’s Priciest Apartment – Mansion Global

Penthouse with Lake Views Leads Record Luxury Condo Sales in Canada – Bloomberg

Stately Historic Homes Make Philadelphia’s Chestnut Hill Postcard Pretty – Mansion Global

Palm Beach Notches Big-Ticket Home Sales – Wall Street Journal

Dublin and Other Top Global Cities for Investment Potential – Mansion Global

Homes That Sold for Around $600,000 – The New York Times

Fragment of Flag from Nelson’s HMS Victory Up for Auction – Daily Mail

January 2018 Washington County Real Estate Market Video Update

January 2018 Washington County Real Estate Market Video Update

Summit Sotheby’s International Realty has released information about real estate markets in Washington County for the previous month. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Washington County – Single Family Homes: Active inventory was down 25% from 2016 with 755 units on the market and down 19% from the previous month. The median listing price was just under $400,000. The average days on market was down 20% from 56 days in 2016 to 45 days in 2017. The median sales price was $300,000. The averages for units sold in the month of October decreased 5% for units sold year over year and decreased 9% month over month with a total of 272 units sold.

Washington County – Condominiums: Active inventory was down 26% from 2016 with 105 units on the market and down 18% from the previous month. The median listing price was just under $220,000. The average days on market was up 18% from 28 days in 2016 to 33 days in 2017. The median sales price was just over $180,000. The averages for the month of October show an decrease of 30% for units sold year over year and 26% increase over the previous month with a total of 49 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.summitsothebysrealty.com/market-update

January 2018 Salt Lake County Real Estate Market Video Update

January 2018 Salt Lake County Real Estate Market Video Update

Summit Sotheby’s International Realty has released information about real estate markets in Salt Lake County for the previous month. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Salt Lake County – Single Family Homes: Active inventory was down 26% from 2016 with 1,579 units on the market and down 27% from the previous month. The median listing price was just $430,000. The average days on market was up 16% from 37 days in 2016 to 43 days in 2017. The median sales price was just under $330,000. The averages for units sold in the month of October decreased 10% for units sold year over year and decreased 16% month over month with a total of 921 units sold.

Salt Lake County – Condominiums: Active inventory was down 4% from 2016 with 554 units on the market and down 12% from the previous month. The median listing price was just under $270,000. The average days on market was up 9% from 33 days in 2016 to 36 days in 2017. The median sales price was just under $240,000. The averages for the month of October show an increase of 2% for units sold year over year and decreased 6% change over the previous month with a total of 308 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.summitsothebysrealty.com/market-update

January 2018 Greater Park City Real Estate Market Video Update

 

January 2018 Greater Park City Real Estate Market Video Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the previous month. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Greater Park City Area – Single Family Homes: Active inventory was down 23% from 2016 with 581 units on the market and down 20% from the previous month. The median listing price was $1,850,000. The average days on market was down 13% from 102 days in 2016 to 92 days in 2017. The median sales price was just under $800,000. The averages for units sold in the month of November increased 4% for units sold year over year and decreased 16% month over month with a total of 85 units sold.

Greater Park City Area – Condominiums: Active inventory was down 18% from 2016 with 414 units on the market and down 2% from the previous month. The median listing price was just over $850,000. The average days on market was up 40% from 77 days in 2016 to 108 days in 2017. The median sales price was just over $480,000. The averages for the month of November show a decrease of 28% for units sold year over year and held steady over the previous month with a total of 65 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.summitsothebysrealty.com/market-update

Luxury Real Estate Headlines: First Week in January 2018

Highlights from this week’s top news stories on luxury, global and Utah real estate, art, collectibles and home.

$599,000 USD | Hurricane, Utah | Summit Sotheby’s International Realty

“Enjoy the bird’s eye view from the Grand Room! Large wrap around windows focus on the views of Pine Mountain and surrounding area. Everything you need on one level with a bonus basement finished. Massive iron door opens to Travertine flooring, Gourment Kitchen for great entertainment, 8′ wood doors, 2 laundries, large out-door pool, that still has views and privacy. RV parking, man cave behind garage for more cars or toys, plumped for sink, heated, many upgrades and priced to sell. This is a well crafted home with much attention to details…”

Real estate scheme may cost Utah family their life savings – Inman.com

Tony Russian Hill Townhome Asks $3.95 Million – Curbed

One of Silicon Valley’s Biggest Properties Asks $30 Million – Wall Street Journal

Wealthy Millennials are Changing the World, Says Sotheby’s International Realty’s Marketing Chief – Mansion Global

Sotheby’s International Realty Brand Expands Presence to the Southern Oregon Coast – Sotheby’s International Realty

The 10 Most Ridiculous Home Sales of 2017 – Bloomberg

Despite Slowing Market Overall, Australia Saw Eye-Popping Real Estate Deals in 2017 – Mansion Global

Hot Properties: Five Homes in the Winter Sun – Financial Times

Film Director’s Modern Miami Abode Hits Market for $22M – Mansion Global

Liftoff for Luxury Home Sales – Santa Fe New Mexican

From New Zealand to New York, Character Tests May be Required to Buy a Home – Mansion Global

Walk-Through: Tech-savvy 3-bedroom in Burlingame – San Francisco Chronicle

Actress Molly Parker Gets Top Dollar for Echo Park Bungalow – Los Angeles Times

2017: A Year of Uncertainty and Record-Breaking Real Estate Deals – Mansion Global

Auction Preview: RM Sotheby’s: Arizona, Phoenix, Jan 18 & 19 – Blouin ArtInfo

Summit Sotheby’s International Realty Update for January 2018

Our Passions – A Truly Global Network & Unmatched Online Presence

When discussing luxury real estate, there are two global powerhouses: Sotheby’s International Realty and Who’s Who in Luxury Real Estate. Between these two brands, our network consists of 150,000 sales associates in 108 countries, representing more multi-million dollar properties than any other real estate brand. What this means for you is that only by listing with a Summit Sotheby’s International Realty sales associate can your property be seen on the two top luxury real estate websites in the world and benefit from our global connections working together as a partnership to find qualified buyers. Networks and relationships matter. Understanding the global real estate market matters. Our seamless, global affiliation resulting in maximum property exposure is just another reason how Summit Sotheby’s International Realty is like no other.

Summit Sotheby’s International Realty’s strategic online syndication ensures that your property is displayed to a qualified, world-wide audience. Only with us will your home have a presence on over 5,000 websites, including the most trafficked news, art, lifestyle, and luxury real estate websites in the world. This level of exposure is just another reason why Summit Sotheby’s International Realty is like no other.

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Luxury Real Estate Headlines: December 22nd 2017

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

$2,150,000 USD |575 Rossie Hill Road Park City, Utah | Summit Sotheby’s International Realty

“Designed by award winning Axis Architects and built in 2016 by Benchmark Modern, 575 Rossie is an impeccable statement of modern design within walking distance of Main St. The home is clad in Sho-Sugi-Ban cedar with contrasting clear red-cedar soffits under a roof that slices through the interior in one continuous movement.”

Architect’s ‘Shipwreck’ Home is for Sale in California for $3M – The Spaces

A New Jersey Manor Copied from a CanvasWall Street Journal

Prewar, With a Twist – The New York Times

‘Gucci Penthouse’ in Manhattan Returns to Market – Now Available as Two Separate Units – Mansion Global

Hot Property: Craftsmanship Abounds in Thousand Oaks Tudor – SF Gate

Green Day’s Mike Dirnt Ditches His Surf-Inspired ‘Shack’ in Montecito – Los Angeles Times

Historic Miami Waterfront Estate Listed for $12.9 Million – Mansion Global

For Sale: The World’s Best Ski Chalets to Buy Now – Boat International

80% of Millennials Want to Buy a Home and Virtual Reality is Upending the Process – Forbes

Emerging Markets with Upside for Real Estate Investors – Mansion Global

House Hunting in… St. Lucia – The New York Times

Inside Banff and Whistler – Barron’s

Frankfurt’s Westend, Popular Amongst Bankers, Offers Historic and New Homes Alike – Mansion Global

Sotheby’s Saw Record Number of New Online Customers in 2017 – Luxury Daily