Deer Valley Resort named "Best United States' Ski Resort"!

By Steve Blankenship
Nov 28, 2016

Congratulations to Deer Valley Resort® for being named “Best United States’ Ski Resort” for the fourth year in a row by the World Ski Awards hosted in Kitzbuehl, Austria. Deer Valley Resort® is well known for its excellent guest services, mountain grooming, fine-dining, exclusive lodging and kid-friendly activities. The skier-only resort offers breathtaking scenery with endless outdoor activities and relaxing spa settings. Deer Valley Real Estate is not only the most luxurious real estate neighborhood of Park City, Utah but features some of the most exclusive mountain properties in the world. Opening day is set for December 3, 2016. Search Deer Valley properties today!

Three other Park City establishments were honored with World Ski Awards. The Washington School House won “Best U.S. Ski Boutique Hotel", the Deer Field Estate in Deer Crest won “Best U.S. Ski Chalet” and Stein Eriksen Lodge won “Best U.S. Ski Hotel.”

Contact Real Estate Specialist Steve Blankenship at 435-640-6966 for more information about real estate in Park City, Utah.

Still time to purchase your Park City ski home!

By Steve Blankenship
Oct 04, 2016

Fall is officially here and winter is just around the corner. There is still time to buy your Park City condo or home in time for the holidays and upcoming ski season. The Park City Base Area will open on Friday, November 18, and Canyons Village will open on Wednesday, November 23, 2016. Deer Valley will open its lifts December 3.

Contact KW Real Estate broker Steve Blankenship at 435-640-6966 for the best real estate representation from start to finish.

Park City Ski condos for Sale Deer Valley real estate - condos for Sale Deer Valley Real Estate for Sale Park City Real Estate - Ski Condos for sale Canyons Village

Canyons Village Masterplan

By Steve Blankenship
Sep 06, 2016

Over the past months I have been introducing you to some of the new construction developments at Canyons Village: Apex Residences, Blackstone Residences, Canyon Residences, Fairway Springs, Frostwood Villas, Juniper Landing, Lift, Viridian and phase 2 of Vintage on the Strand.

After Vail already invested over $50 million into Park City Mountain resort last year, and TCFC opened the Canyons golf course in 2014, they are working with Replay Resorts to enhance the Canyons Village even more. Between them, they have experience in creating some of the world’s great resort villages and mountain destinations, from Whistler to Vail to Les Arcs in France. They understand the importance of the four-season experience and the walkable village.

They recently shared some of their planned improvements. The Upper Village will add new real estate developments such as Apex, Lift and one yet unknown development on site of the current dirt parking lot behind Westgate and north of the Sunrise Lodge - Hilton Vacation Club. More real estate will eventually be built between Sunrise Lodge and the Silverado Lodge, and east of the Grand Summit Lodge. A planned new lift will replace the current Sunrise lift. The area around the new lift will become the new skier plaza with event and apres ski space.

Today, Canyons Village offers a wide range of services, fun and boutique shops – gatherings at the Forum, gear shops, ski rentals, restaurants and lodging. The Village Walk will soon be extended to offer a wide range of new shops, services and restaurants, with modern new mountain residences and hotels to come. And while Canyons Village already offers access to 4000 acres of amazing terrain, we’re growing: a planned new plaza will be anchored by a planned new lift to facilitate access to the Quicksilver Gondola and the Park City side. Canyons Village will become part of a true European-style alpine ‘village to town’ experience.

Other planned amenities include a conference center hillside north of the Grand Summit and Quicksilver Lift (RC7), improved pedestrian connections, an Aquatic Center (RC21) adjacent to the Silverado Lodge and possible ski in connections to Lower Village real estate developments.

Contact KW Park City Real Estate Broker Steve Blankenship at 435-640-6966 for more information about Canyons Village Real Estate.

All renderings and illustrative maps are conceptual only and subject to change. Amenities shown in renderings and illustrative maps are proposed, have not received county approval and may not occur.

Canyons Village Real Estate - Masterplan - Conference Center Canyons Village Real Estate - MasterplanCanyons Master Plan 4Canyons Master Plan

Hyatt Escala Lodge now Hyatt Centric Park City

By Steve Blankenship
Feb 03, 2016

Hyatt Escala is being re-branded to Hyatt Centric. Hyatt Centric is Hyatt's premium brand - a new, full service lifestyle brand representing a cosmopolitan vibe in the center of the action. Approximately $6 million are being spend towards re-branding the Park City location. Worldwide only 15 hotels are being converted to the "Centric" brand.

New Quicksilver Gondola opens!

By Steve Blankenship
Dec 18, 2015

This week the new Quicksilver Gondola opened at Park City Mountain Resort. The new eight-passenger gondola connects Park City Mountain and former Canyons Resort. Park City Mountain Resort is the largest ski resort in North America.

Contact Keller Williams Real Estate Broker Steve Blankenship for the real estate investment options along Park City Mountain Resort.  

Park City Real Estate - Market Statistics - 2nd Quarter 2015

By Steve Blankenship
Aug 11, 2015

Summer is in full swing. We are enjoying the wonderful weather hiking, biking, boating or one of the many outdoor concerts and events. Vail is installing new lifts and building new lodges as part of their one year, $50 million investment combining Park City and Canyons Resort into the largest ski resort in the US. Furthermore, Deer Valley has closed on their purchase of Solitude, and ONE Wasatch effort to unite all six resorts continues to move forward. All in all, its a very exciting time.

Along with that we are happy to announce that the number of closed sales and total dollar volume for this first half of 2015 are the highest since 2007. While prices are certainly not back to the market highs of 2007 our market is steady. The total number of closed sales, year-to-date, for the entire market area was nine percent higher than the first two quarters of 2014 and was the highest first half of any year since 2007. Along with that, the total dollar volume was up 11 percent and the median sales price continued to trend upward on a gentle curve in most areas. In fact today's median sales price is the same as June 2006 and July 2010.

INVENTORY: Following the national trend, inventory levels throughout Park City are still very low, with only 1,170 total listings available as of June 30, down 8.5 percent from 1,270 in 2014. At this current absorption rate we have a 6.6 month supply.

PENDED SALES: For the first 6 months of the year, pended sales reached their highest level since 2006 with just over 900 contracts written.

SINGLE FAMILY HOME SALES: The median sales price for a single family home within the city limits has remained close to $1.34 million over the past twelve months, while the average price has actually come down 11 percent. Overall sales in the Prospector neighborhood increased significantly with an increase of 89 percent in transactions, almost double the number of sales compared to the previous four quarters. Sales price climbed eight percent, reaching $700,000.

CONDOMINIUM TRENDSCondominium sales are up nine percent over the previous 12 months and we have seen a 14 percent overall increase in median sales price in the entire market area. Again, sales in Prospector had the highest jump in number of sales, also with a median sales price increase reaching $132,000. Lower Deer Valley is showing signs of recovery with more than double the number of sales along with a 15 percent median sales price increase to $735,000. The Canyons area, with its wide-ranging property types, was up 41 percent in the number of sales over the previous four quarters with a median sales price of $389,000. Jeremy Ranch showed an increase of activity with 58 percent more sales than the previous four quarters and a price increase to $535,000.

VACANT LAND SALES:  The number of Vacant Land sales for the entire market area was slightly higher than the previous four quarters and lot prices increased 10 percent in median sales price. The Jordanelle area continued to grow with lot sales up 21 percent.

GOLF COMMUNITIES: With 75 closed transactions since January, Promontory had the highest number of sales with a median sales price of about $1.56 million. Red Ledges is also going strong with 43 closed sales.

If you own property, this might be a very good time to get a market analysis to consider your options. Our market is showing a good solid, steady growth. Inventory remains very tight. For those looking to buy, multiple offers are still quite common in high demand neighborhoods so it is important to be well qualified and responsive.

New Park City & Canyons Resort Branding!

By Steve Blankenship
Jul 29, 2015

Today Vail Resorts revealed its new branding, logo and trail map. The soon to be nations largest ski resort will market the combined Park City Mountain Resort and Canyons as “Park City". They also unveiled the new trail map spanning 6.5 miles from one end to the other.

Vail Resorts is putting $50 million of improvements into the mountain–from lifts and trails to lodges and restaurants.

A new gondola, called “Quicksilver,” will connect the base of the existing Silverlode Lift at Park City to the Flat Iron Lift at Canyons. Quicksilver will be a high-speed, two-way gondola system capable of carrying eight people in each gondola.

A new restaurant called “Miners Camp” will open at the base of the Silverlode Lift and will accommodate 500 diners.

The Canyons Resort area will be called: Park City - Canyons Village.

Fun Facts: 38 lifts with 3,500+ chairs; 22.39 miles of lifts; 35 minutes from the airport; 17 peaks; 300+ trails; over 7,300 acres of terrain which is equivalent to 5,530 football fields; 480 snowmaking guns; 16 on-mountain dining locations; a 22' half pipe and over 150 park features.

Search for: Park City Real Estate, Canyons Village Real Estate & Deer Valley Real Estate.

Park City Real Estate Market Update - First Quarter 2015

By Steve Blankenship
May 20, 2015

Looking back at the first four months of real estate transactions  in the greater Park City real estate we continue to see an increase in pricing while inventory levels remain at historic lows. As a result of strong sales and happy guests there were only 1,017 total properties available – 360 single family homes, 411 condominiums and 327 lots. (April 1, 2015).

This march we saw the highest number of pended sales since 2006 with condominium sales being up 18%. Closed sales also saw double digit growth and were 11.5% higher than 2014 with an average 17% increase in sales price compared to last year.

SINGLE FAMILY TRENDS: Within the Park City limits, the number of single family transactions decreased 8% with volume was down 17%. However, the median price rose from $1,300,000 to $1,600,000 for a 23% increase. Overall sales in the Snyderville Basin increased significantly, with a 21% increase in transactions, 74% increase in volume and 31% increase in median prices, which rose to $963,000 from 2014’s median of $735,000.

CONDOMINIUM TRENDS: Condominium sales were down slightly in Park City proper, with a 3% decrease in transitions. Overall volume increased 9% while the media decreased from $712,250 to $680,000. Interestingly enough, the average condominium price increased 13% to $1,205,305. In the Snyderville Basin, the most dramatic increases occurred at the Canyons where the number of transactions doubled from 11 to 22. While volume increased 145%, the median price fell 9% from $399,000 to $362,500. Notable increases in condominium sales volume were noted in Pinebrook, with 11 sales versus 7 during the same period last year.

LAND SALES TRENDS: Land sales are extremely limited within Park City proper as we are near build-out. There were just 7 land sales, up from 3 the prior year with the median price dropping 38% to $589,000. Decreases were also noted in the Snyderville Basin, with a 12% decrease in transactions and a 29% decrease in median price to $273,000.

NEW CONSTRUCTION: For the second year in a row, construction is booming in Summit County. First-quarter data from the county's building department shows 181 building permits issued from January through March, which represents a 47-percent jump from the same period last year. It is a 99-percent increase compared to 2013.

We look forward to our transition to a "Two Resort" town: Vail Resorts is already underway with construction on the gondola connection between Park City Mountain Resort and Canyons as well as the yet-to-be renamed Snow Hut Restaurant.NOW IS A GREAT TIME TO LIST YOUR PROPERTY With the spring selling season well underway, low inventory continues to be our biggest story. Depending on when you purchased your property, this is likely an ideal time to sell. Please reach out for a detailed analysis of current market trends in your particular neighborhood.

Interested in investing or selling Park City Real Estate? Contact Broker Steve Blankenship at 435-640-6966.

Stein Eriksen to manage Park Meadows Golf & Country Club

By Steve Blankenship
Apr 28, 2015

Stein Eriksen Management Corp. will start managing Park Meadows Country Club starting May 1, 2015. Stein Eriksen Management Corp. already oversees Stein Eriksen Lodge, The Chateaux at Silver Lake and soon the new Stein Eriksen Residences, a 14-home and 40-condominium project.

The 18-hole golf course includes a driving range and swimming complex. Members of the country club will be able to take advantage of certain Stein Eriksen operated facilities and guests staying at Stein Eriksen will have opportunities to utilize the  country club also.

Contact Park City Real Estate Specialist Steve Blankenship for Deer Valley or Park Meadows Real Estate.

Deer Valley president reveales ideas for Expansion!

By Steve Blankenship
Dec 17, 2014

Following the release of Vail Resorts' future plans, Bob Wheaton, the president and general manager of Deer Valley® Resort, informed the Park City Council that extensive internal planning is underway involving expansions stretching from the Jordanelle Reservoir to Old Town. Ideas include a gondola linking Deer Valley with Old Town, an expansion on the Jordanelle Reservoir side and the intention of a possible development of the parking lots outside Snow Park Lodge.

According to Wheaton, Deer Valley® Resorts is looking at two alternatives for a gondola.

Option 1) Two gondolas: one of the gondolas would run from the Old Town transit center to a spot at the top of the Lucky Bill ski run - uphill from Snow Park Lodge. The second gondola would replace the Silver Lake Express lift. Such a gondola connection could perhaps connect people between Silver Lake and Old Town between 7 a.m. and 11 p.m..

Option 2) Only one gondola running a route between the Old Town transit center and an undecided point somewhere in Silver Lake Village. No further details were discussed about this option.

Wheaton also spoke about ideas for a major development on the Jordanelle Reservoir side of Deer Valley® Resort. The project could involve an expansion of Deer Valley's skiing terrain totaling between 800 and 1,000 acres with at least seven and, perhaps, eight new lifts. Wheaton told the elected officials work could start as early as next summer.

Deer Valley gondola plan

Vail Resorts releases plans for gondola linking PCMR & Canyons Resort!

By Steve Blankenship
Dec 16, 2014

Since Vail Resorts acquired Park City Mountain Resort and took over the lease at Canyons Resort we have seen a significant increase in real estate investments in the area. Next summer Vail Resorts is going to link both resorts which will make Park City home to the largest ski resort in the US. This means skiers and snowboarders will have access to over 7,000 acres of terrain.

If approved Vail Resorts will first build an “Interconnect Gondola,” an eight-passenger ride that would start at the base of Park City at Silverlode Lift, going to the Flatiron Lift at Canyons. In addition to that, existing lifts would be upgraded to increase passenger capacity and reduce crowding. Further plans include expanding and upgrading resort restaurants as well as improving maintenance and upgrading snowmaking equipment. With a new unloading point at the top of Pine Cone Ridge skiers and snowboarders will be able to access ski terrain at Thaynes Canyon and Iron Mountain.

Under the new scheme, the unified resort would be named ‘Park City Mountain Resort’ and the Canyons base area renamed "Canyons at Park City".

Vail - Park City Connection

 

 

Discount Lift Tickets!

By Steve Blankenship
Nov 26, 2014

Ski season has begun, and Liftopia, a digital marketplace for advance purchase lift tickets, just launched its annual Black Friday Preview. The promotion allows skiers and boarders to save on lift tickets all season — up to 87 percent when you stack them up against walk-up prices.

Park City Ski Resort Opening Days!

By Steve Blankenship
Nov 12, 2014

Park City is getting ready for the upcoming ski season.

  • Canyons Resort - November 28, 2014
  • Deer Valley - December 6, 2014
  • Park City Mountain Resort - November 22, 2014
 

Montage Deer Valley Stein Eriksen Lodge Deer Valley Park City Mountain Resort

 

Deer Valley Purchases Solitude Mountain Resort!

By Steve Blankenship
Oct 27, 2014

After Vail recently took over Park City Mountain Resort - Deer Valley® Resorts now announced that it has entered into an agreement to purchase Solitude Mountain Resort and will begin operating the resort on May 1, 2015. For the next six months Deer Valley® staff will work alongside Solitude staff to evaluate resort operations and gain knowledge about the Solitude brand and culture. Deer Valley® plans to continue allowing snowboarding at Solitude and keep the Brighton connection in place. Eventually there may be minor adjustments the Solitude name but Deer Valley® currently has no plan to re-brand Solitude.

Full season pass holders will benefit from reciprocal benefits such as four days of skiing and midweek pass holders can enjoy two days of skiing at the other resort.

Deer Valley® is one of North America's most prestigious resorts and it was just recently crowned again for Best Accessibility, Best Lodging, Best Service and Best On-Mountain Food in North America by readers of  Ski Magazine. The resort itself announced several improvements this year such as a new restaurant - The Brass Tag, located at the Lodges at Deer Valley -,  better snow-making system and a more refined backcountry skiing experience. According to Bob Wheaton, plans are currently in the works for a gondola from the Old Town transit center on Main Street that would take guests to either Silver Lake Lodge or Snow Park Lodge. Additionally, an expansion of the resort near the Mayflower lift is in the works.

As far as Deer Valley is set to open December 6, 2014.

Invest into ski property in the Deer Valley® Resort area in Park City, Utah today. Contact Real Estate Broker Steve Blankenship at 435-602-9976.

Breaking News! Vail buys Park City Mountain Resort!

By Steve Blankenship
Sep 11, 2014

This news came at quite a surprise. Vail Resorts announced today that it acquired Park City Mountain Resort (PCMR) in a $182.5 million cash deal. Powdr Corp. owned about 687,000 square feet of residential and commercial property at the resort base including the main access points to the resort. John Cumming, owner of Powdr Corp. said "a sale was the only way to provide long-term certainty for PCMR employees and the Park City community." Vail states PCMR and Canyons Resort would be combined for the 2015-16 season creating the country’s largest ski resort covering more than 7,000 acres of terrain. Vail anticipates to significantly invest in the guest experience at our mountain resorts, including new chairlifts, on-mountain dining options and innovative snow making expansions for the coming winter.

Park City Mountain Resort will now be part of the Epic Pass which features unlimited, unrestricted skiing and riding at 22 of the world's most iconic mountain resorts and more than 32,000 acres of ski terrain.  Click here for pricing and pass options. All current prices are only guaranteed through October 12, 2014.

All Park City Mountain Resort passes for the 2014-15 ski season will continue to be honored and can be exchanged or upgraded for a season pass that will also be valid at Canyons. The majority of all lift tickets sold at either resort will be valid at both PCMR and Canyons.

Contact me for more information and real estate options in the Park City area.

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