Tag Archives: 2016

Summit SIR 2016 Resort Report

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Ever wonder what is happening in Park City and the western United State’s top resort real estate markets besides the skiing? The resort markets of the Vail Valley, Breckenridge, Aspen, Telluride, Crested Butte, Steamboat Springs – CO, Park City UT, Lake Tahoe CA, Jackson Hole WY, Big Sky MT, Santa Fe NM, and Sun Valley ID, have been demonstrating signs of steady increase according to a 2016 year-end report by Summit Sotheby’s International Realty, and there are no signs of slow-down.

Based on their location in desirable, slightly less accessible places than national mainstream markets, resort communities throughout Utah and around the world are prone to unique, heavily saturated luxury markets, and tend to have a greater density of luxury offerings as higher net worth individuals are often drawn to them based on their exclusivity and proximity to recreational activities.

Summit Sotheby’s International Realty compiles bi-annual data from 12 prominent resort communities throughout the western half of the United States in order to provide the consumer quick statistics for each resort area, keeping them up-to-date on the overall housing market in each area, and providing pertinent information in making buying decisions.

Summit SIR Awards Sales Associates for 2016

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Summit Sotheby’s International Realty agents were recently recognized for their achievement and outstanding performance in 2016. Summit SIR recognized 75 Top Producing sales associates  in Tier 1 & 2 for their real estate production over the past year.

“On behalf of myself and the entire staff, we congratulate these individuals on their outstanding business performance and exceptional results” says Thomas Wright, President and Principal Broker. “These award winners are an inspiration to all of us and greatly contribute to our company’s competitive edge in the Utah marketplace. The entire Summit Sotheby’s International Realty staff and team joins me in celebrating their success”, said Thomas.

Summit Sotheby’s International Realty is proud to continue to be the #1 top selling Real Estate company in Utah.

 

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2016 Profile of Home Buyers and Sellers

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For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.

  • At 31 percent, the primary reason for purchasing a home was the desire to own a home of their own.
  • First-time buyers made up 35 percent of all home buyers, an increase over last year’s near all-time low of 32 percent.
  • Eighty-eight percent of buyers recently purchased their home through a real estate agent or broker.
  • Eighty-eight percent of buyers would use their agent againor recommend their agent to others.
  • Only eight percent of recent home sales were FSBO sales again this year. For the second year, this is the lowest share recorded since this report started in 1981.

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Peek Inside Utah’s Most Desirable Homes

The Collections Magazine is Summit Sotheby’s International Realty’s premiere guide of the finest luxury properties, lifestyles and real estate throughout Utah. Each issue showcases luxury estates and homes for sale from the finest international real estate specialists in Utah.  Editorial articles include “Stairways to Heaven”,  “Utah’s Fields of Play” and “The Exchange”, which highlights what’s new in the world of travel, style, art & design, and wine and leisure. For a free copy, simply contact us to have one mailed to you.