Tag Archives: resort

2018 Resort Report by Summit Sotheby’s International Realty

The annual Resort Report, analyzes data compiled from 12 prominent resort communities in Park City, Utah and the western half of the United States, keeping consumers up-to-date on the overall housing market in each area, and positioning them to make better real estate decisions, whether purchasing or selling a home in a Resort market.

As the national residential real estate market continues to evolve, it is important to note that markets demonstrating some of the most unique performances in the nation, are those located in resort communities in Park City, Utah and the western United States.

Our annual Resort Report analyzes data pertinent to the various resort real estate markets located in Park City, Utah and the western United States, helping consumers make better real estate decisions, whether purchasing or selling a home in a resort area.

When contemplating as large a financial commitment as the purchase or sale of a primary or second home in a resort area, market data can make a significant impact on making sound financial decisions. Summit Sotheby’s International Realty, and the many respected Sotheby’s International Realty affiliates that contributed to this report, remain committed to helping consumers make better real estate decisions, whether purchasing or selling a home.

Visit summitsothebysrealty.com to search our listings in each resort market!

Luxury Real Estate Headlines: Second Week in April 2017

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

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$3,250,000 USD | Ski-in/Ski-Out at Deer Valley Resort | Represented by Kristina Watkins

“Unit 14 is the apex condo at Stag Lodge, strategically placed at the very corner of the development to catch the curve of Last Chance run, making your ski-in and ski-out access flat, easy, and direct from the actual ski run to your private patio. “

The Tallest Single-Family Home in the U.S. is for Sale – Architectural Digest

House Hunting in… Cape Town – The New York Times

Sotheby’s International Realty Brand Expands Presence in India – Sotheby’s International Realty

Coastal Blairgowrie Home is an Entertainer’s Dream – News.com.au

Nutley, N.J.: A Place to Land and to Stick Around In – The New York Times

Sotheby’s International Realty Makes a Push into Asia, Starting with Singapore – CNBC

‘Nip/Tuck’ Star Julian McMahon Cuts Loose from Colorful Malibu Home – Los Angeles Times

Lovely Colonial in Berkley Returns to Market for $2.2M – Curbed

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

Broadway Hitmaker’s Former Townhouse Selling for $19.5 Million – Mansion Global

The Coolest Eco-Friendly Homes on the Market Right Now – Elle Decor

From Chateaux to Sea Cliffs: The Romance of Castle Living – T Brand Studio

Material World: Sotheby’s Announces Autumn Design Auction – Wallpaper*

Most Valuable Earrings to Appear at Auction Could Fetch $68 Million – Forbes

Summit SIR 2016 Resort Report

SSIR_Resort Report_2016_Page_01

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.

Winter Is Coming: Resort Opening Days 16-17

It is no secret that Utah is home to the greatest snow on earth. About this time of year, every year, there’s a growing anticipation for the season’s first big snow storm… the storm that ushers in the winter and gets the chairs spinning at all of Utah’s resorts.

So to get everyone hyped up and to add to the anticipation, here’s a look at each resort’s anticipated opening day!

Northern Utah Resorts

Alta
Opening Date: December 2, 2016

Brighton
OPEN

Snowbird
OPEN

Solitude Mountain Resort
Opening Date: December 2, 2016

Deer Valley Resort
Opening Date: December 3, 2016

Park City Resort
OPEN

Sundance Resort
Opening Date: December 9, 2016

Beaver Mountain
Opening Date: TBD

Powder Mountain
Opening Date: December 1, 2016

Snowbasin
Opening Date: December 1, 2016

Nordic Valley
Opening Date: December 10, 2016

Cherry Peak
Opening Date: TBD

Central and Southern Utah Resorts

Brian Head Resort
OPEN

Eagle Point
Opening Date: December 17, 2016

Summit Sotheby’s International Realty 2015 Year-End Resort Report

Summit SIR_Resort Report_YE 2015

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 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.

 

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Summit SIR Mid-Year 2015 Resort Report

The Resort Report is a snapshot of the resort market conditions provided by Sotheby’s International Realty affiliates throughout Utah, Colorado, Wyoming, Idaho, and California.

The famous Rocky Mountains, combined with the vast offerings of the western United States continue to position the United States as one of the leading resort community destinations worldwide, and with the increasing desire for lifestyle-inspired home purchases; the resort community market will continue to rise. Resort communities throughout the western United States and around the world are prone to unique, heavily saturated luxury markets. Often found in desirable, slightly less accessible locations than national mainstream markets, resort markets 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 world class activities year round. Seasonality, location, and employment opportunities drive the inventory of affordable homes down and most pricing within resort communities up.

2015 Summit Sotheby’s International Resort Report

SSIR_Resort Report_2015_Full Report cover

The 2015 Summit Sotheby’s International Resort Report is a comparison of the leading western United State’s resort markets in California, Colorado, Idaho, Utah and Wyoming.

The famous Rocky Mountains, combined with the vast offerings of the western United States continue to position the United States as one of the leading resort community destinations worldwide, and with the increasing desire for lifestyle-inspired home purchases; the resort community market will continue to rise. Resort communities throughout the western United States and around the world are prone to unique, heavily saturated luxury markets. Often found in desirable, slightly less accessible locations than national mainstream markets, resort markets 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 world class activities year round. Seasonality, location, and employment opportunities drive the inventory of affordable homes down and most pricing within resort communities up.

2015 Resort Report Comparison

Vail, Colorado
Vail Valley’s market began to stabilize at the end of 2014 with the highest yearly sales volume since 2008, as well as the highest number of transactions since 2007. Moving away from the investor-dominated market share, more residences were purchased and used by primary residents and secondary home owners. Homes are spending less time on the market and offers are being presented close to list price, with inventory remaining low. The steady upswing in our market is growing rapidly at 20% and is expected to rise throughout 2015.

Breckenridge, Colorado
Breckenridge has seen a very strong start in 2015 with a 27%  increase in luxury sales volume over $1M in the first quarter over the same period in 2014. A 17% increase in number of properties sold over $1M reflects Buyers’ confidence that now is  the right time to invest in the resort market.

Aspen, Colorado
Aspen continues to be an exceptional place to own real estate. The resort has seen strong growth in all segments of the real estate market. In 2014 we saw an almost 20% increase in selling price, price per square foot, and dollar volume. Properties have held strong at 94% of the asking price.

Telluride, Colorado
After multiple years of a slow recovery, 2014 recorded very positive trends over the previous year and a very strong picture of how 2014 resembles the last record year of 2007. While the market still fluctuates up and down, it’s an optimistic picture.

Crested Butte, Colorado
Crested Butte’s 2014 overall housing market was very similar to 2013 with average sold price, number of properties sold and total volume being close to even. Positives in the 2014 market were that price per square foot was up and days on market were down. 2015 is expected to see gains in total sales volume and average sold price. Crested Butte is already off to a stronger start in the first quarter compared to 2014.

Park City, Utah
The Park City resort market remains very complex and segmented by micro-location and price point. While the number of closed transactions was flat, the “Vail Affect” sparked greater interest which drove up the median sold price. It is anticipated that there will continue to be a shortage of inventory, which will fuel moderate increases in price and a reduction in overall days on the market.

Lake Tahoe, California
Much like the San Francisco Bay Area feeder markets, the overall Tahoe/Truckee real estate market continues to be defined by a lack of inventory, resulting in a sales volume decline accompanied by increased valuations across most of the region’s neighborhoods. More inventory is gradually coming on the market, which is providing welcome relief for buyers in search of the right home. Early 2015 sales are encouraging as we head into the prime spring/ summer home-buying season.

Jackson Hole, Wyoming
The housing market in the Jackson Hole region is kept competitive due to all but approximately three percent of the land in Teton County being state and federally protected. The robust market benefits from the sale of large land parcels and an active market in resort-based fractional units – neither of which is included in this report. A lack of available real estate inventory is the rate-limiting factor within the Jackson Hole region.

Big Sky, Montana
Today, Big Sky is enjoying a renaissance under the combined leadership of Boyne USA, Cross Harbor, Montage Resorts and the Lone Mountain Land Company. Big Sky, Moonlight Basin and the Spanish Peaks Mountain Club ski resorts have been combined under the Banner of Big Sky Ski Resort. The sky is the limit! There are already three new ski accessible cabin developments under construction, each designed with a contemporary, mountain look and feel.

Sun Valley, Idaho
The market in Sun Valley continues to rebound solidly from the recession, showing gains in volume over the last couple of years that suggest steady, long-term growth. The number of transactions has decreased, and the median sales price in the Resort Core has increased dramatically. The ethos in Sun Valley is to maintain the small mountain town atmosphere. It is anticipated that inventory will tighten into the summer months.

View more information in the Summit SIR_2015 Full Resort Report

All data contained within this report is based on information from Colorado, Aspen Board of Realtors MLS, SAR MLS, Vail Board of Realtors, Gunnison County MLS, Telluride Association of Realtors MLS, Park City Board of Realtors, Tahoe Sierra MLS, Teton Board of Realtors MLS, Sun Valley Board of Realtors MLS, and Southwest Montana MLS. This representation is based in whole or in part on data supplied by these providers, and these providers do not guarantee nor are in any way responsible for its accuracy. MLS data may not reflect all real estate activity in the market. Data within this report does not include land sales.  *Source: PCMLS, City – Park City, Type – All Residential Property Types except Land, Date January 2013 – 2015.

Resort Markets Rebound

A look at the Rockies, the Intermountain West, the Southwest, shows that second-home locales are making their comeback.

As many prime markets moved into full recovery mode in early 2012, most resort properties had yet to see the spark of a turnaround. Today, that’s changed. Park City had $1,240,542,783 in sales volume (up 15% from 2011) and 1,816 sales (up 9%).

Clearly, buyers have returned with new priorities, which might be the clearest indication that there really is a new normal. Instead of ski-in, ski-out condos, Benson sees buyers gravitating toward larger properties with more land and opportunities for a broader range of experiences and activities.

The switch to lifestyle properties is changing resort markets all over the West. “People are buying fewer properties with the intention of using them more,” observes Benson. And rather than a $2 million or $4 million condo, many affluent consumers would rather put their money into a $6 million or $8 million ranch. “Coming out of the recession, people have accumulated wealth and they are feeling comfortable putting that wealth into large properties. Now it looks safer than parkingmoney in the stockmarket. Family lifestyle and experience became more important than it ever was. They want their kids to experience snowmobiling, fishing and horseback riding,” observes Benson.”

View full issue at http://ncidigitalmedia.com/publication/?i=166896

Living in Canyons

The Canyons is one of three alpine ski resorts in Park City. The Canyons is just four miles from downtown Park City, and only half an hour from Salt Lake City. With 19 chairlifts and over 4,000 acres of skiable terrain, The Canyons is the largest ski resort in Utah. In 2008, a 20 million gallon snow-making pond and 2 new high speed quads were installed to help upgrade the park. While at the Canyons you can experience the six superior restaurants, horse-drawn sleigh rides, a snow groomer ride along, guided snowshoe tour, dog sledding, snowmobile tours, cross country skiing, and fly fishing. You could even take a ski lesson from any one of the 225 award winning ski instructors, who teach a wide range of skill levels. The Canyons offers guests access to the back country however, the resort does stress the importance of having the right equipment. The Canyons goal is to be number one, four season resort in North America.

The Canyons real estate is perfect for skiers, living in a luxury home near your favorite resort is a dream come true for many people. There are several new condominium, townhome and hotel developments which include: Silverado, Hyatt Escala, Sunrise at Escala, Juniper Landing, Fairway Springs, Waldorf Astoria and the Vintage on the Strand.

There are hiking, mountain biking, gondola rides, and even hot air balloon rides offering incredible views of the mountain peaks and wildlife, during the spring and summer months. Concerts are held in the resort village throughout the summer. There is also a farmers market every week, where you can get fresh, local fruits and vegetables. Local artists also display their work which can be purchased.

Park City and the Canyons real estate market is full of luxury homes, that will give you spectacular views, and endless outdoor activities. If you love to ski, and be surrounded by gorgeous mountains, then a luxury home at the Canyons is for you. Single family residential housing in this area ranges from popular full-time residential neighborhoods like Cedar Draw and Mahogany Hills to luxury residential areas such as White Pine Ranches and the Colony at White Pine Canyon. The Colony incorporates approximately 260 homesites, including some of the largest ski-in, ski-out homesites in the nation, spread over 4,400 acres. Luxury single familiy residences in this gated community are setting a new luxury standard in Western resort living.

Click to view properties in Canyons