New Park City Condos to be released in the $500,000s!

By Steve Blankenship
Mar 17, 2017

Blackstone Residences at Canyons Village are going to release their first of three condominium buildings. The developer has broken ground for building 1 already. There will be 24 condos in building 1. The condominiums offer 1,159 to 1,500 square feet of single-level living space. Four floor plans available. Located adjacent to golf course and steps from cabriolet in the lower Village. See below for renderings. Prices starting in the $550,000s. They may be released in May but reservations will start before then.

Contact Real Estate Broker Steve Blankenship at 435-640-6966 for more information about how to reserve a residence at Blackstone.

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Wasatch Springs is located adjacent to Park's Edge and The Retreat at Jordanelle off Highway 248 - just a few minutes from Park City and Jordanelle Reservoir. The townhomes and duplexes are going to feature designer finishes, the latest trends in home design and smart home technology. Three floor plans to choose from. Offering three and four bedroom townhomes with approximately 1,500 to 2,800+ square feet. Each residence has an attached two-car garage.

30 homes will be built but only ten will be released in phase 1. More townhomes will be built on demand after that. Construction averages five to seven months. Pricing $450,000-$600,000.

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Insure that you have the best buyers representation when buying a condo in Park City, Utah. Contact Real Estate Broker Steve Blankenship at 435-640-6966 for more information about how to reserve a condo at Blackstone Residences or Wasatch Springs.

Park City Real Estate Market: 2016 Summary

By Steve Blankenship
Feb 19, 2017

The market stats for 2016 are in. Overall, the Greater Park City and Heber Valley real estate market is continuing its climb and returning to its previous 2007 Records in some areas. Sales volume, median sales prices, and the number of listings are up in most areas. This is in-line with a similar state-wide trend. Utah is one of the top states in the country when it comes to home price appreciation. While Utah experienced a 9.5 percent home price appreciation in 2016, the Park City Multiple Listing experienced an even greater appreciation of 15 percent, with median prices rising in all four major areas. Prior years saw an average of 7.5 percent increase in price per year. Reason for this is that both local and statewide economies are becoming more diverse.

While total sales volume in the greater Park City area topped $1.7 billion in 2016, we are still feeling a sting of low inventory. Even though inventory was up 4.5 percent it is still not enough to meet demand. As a result we are seeing a lot of home buyers drawn to put in reservations for one of the many new lodging developments being built in Deer Valley, at Canyons Village and around town. High demand and low inventory are the main reasons that appreciation was up to double digits in some neighborhoods. As a result, we are starting to see buyer resistance to pricing in some of the popular neighborhoods such as Silver Springs.

Single Family Homes

The number of home sales in Lower Deer Valley has doubled with a 15 percent increase to just under $2 million. While sales prices in Old Town and Park Meadows grew to $1.48 and $1.59 the sales volume in both areas are down. In Jeremy Ranch we have seen 52 home sales which is about one per week with a median price of $922,000. Trailside had a 35 percent increase in sales and saw a 13 percent increase in median price to $723,000. The Heber Valley remains a hot market. 359 homes sold last year (triple of what sold in 2015!) for a median sales price of $349,000. 40 percent of Midway homes are now second homes.

Condominiums

Old Town experienced the most condominium sales, with 118, at a median price of $568,000, a 26 percent rise. We also saw strong sales at Canyons Village and in Pinebrook. Condos at the Canyons averaged 10 sales per month with a 53 percent jump in median price to $615,000. Pinebrook had 63 sales with a median price steady at $437,000. Condominium sales in the Jordanelle area experienced a 28 percent increase in volume of sales, at a median price of $479,000.

Low inventory coupled with increasing median sales prices suggests that it's an ideal time to consider selling your property. Our market is complex and both trends and data can differ significantly between neighborhoods. Contact Steve today at 435-640-6966 to discuss how your home value is affected by these market trends or how spring may just be the perfect time for you to list your home or look for a new home.

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New Development: Empire Residences Deer Valley

By Steve Blankenship
Jan 17, 2017

Empire Residences is a new luxury ski-in ski-out development coming to the very exclusive and highly sought-after Empire Pass community in the Deer Valley real estate area of Park City, Utah. Located off Marsac Avenue, Empire Residences will be nestled at the base of the Silver Strike chairlift at Deer Valley Resort®.

Each of the 19 extravagant ski residences will feature modern mountain design and spectacular views of the Park City valley, the ski slopes as well as the village at Empire Pass. The building has been designed to maximize the views for each condominium residence. Empire Residences will offer two, three or four bedroom floor plans with expansive outdoor decks and a private entry which can be accessed via one of two elevators that offer direct access to the residences through a foyer to ensure a private and personal arrival.

Amenities at Empire Residences are to include a covered arrival, an aprés-ski lounge, a game room, fitness center, ski locker room and “ski beach”, with a generous hot tub and fire pit. Each condominium includes a dedicated underground parking stall with personal storage spaces. Owners will also enjoy an exclusive membership at the Talisker Club that provides golf and additional on-mountain amenities.

Empire Pass is also home to other astonishing real estate developments such as Montage Deer Valley, Arrowleaf, Larkspur, Flagstaff, Grand Lodge, Ironwood, Nakoma, Paintbrush, Red Cloud, Shooting Star, Silver Strike Lodge and The Belles at Empire Pass.

Reservations begin February 2017!

REQUEST MORE INFORMATION TODAY!! CONTACT KW REAL ESTATE BROKER STEVE BLANKENSHIP AT 435-640-6966 OR EMAIL STEVE@PARKCITYINVESTOR.COM.

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Deer Valley Real Estate Update

By Steve Blankenship
Dec 19, 2016

The Goldener Hirsch Inn & Restaurant is one of the most popular condominium hotels and restaurants in Upper Deer Valley. The luxurious boutique hotel has been owned and operated by the Eccles family since 1992. We have exciting news for everyone who loves the brand and is interested in ownership. The Goldener Hirsch is going to expand and it will be the first new development in Silver Lake Village in over a decade. The new project will offer 38 contemporary residences ranging from studios to one, two and three bedroom floor plans on the last remaining parcel in Silver Lake Village.

Amenities for the new luxury ski hotel addition will include a front lobby with check-in, valet & concierge,  a lounge & outdoor patio with fire pits, rooftop pool & a hot tub with stunning views, a fitness center adjacent to the rooftop pool, a ski/boot locker room with Aprés-Ski Lounge, a Conference Center and underground parking.

Sales reservations begin winter 2017. Construction planned to start spring 2017. Completion planned for winter 2019.

Contact KW Real Estate Agent and Deer Valley Real Estate Expert Steve Blankenship at 435-640-6966 for more information about the reservation process.

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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.

More new developments coming to the Park City area!

By Steve Blankenship
Oct 18, 2016

Over the course of this year I have been updating you about quite a few new developments in the Park City area. Here are a few to add to the list.

Kantons at the Village on the Green offers 33 luxurious attached and free-standing townhomes located at the first fairway and green in Midway. Prices for the three-bedroom residences start in the upper $400,000s.

Quarry Springs will bring 68 new three and four-bedroom townhomes to lower Pinebrook. Prices to start in the $500,000s.

Wasatch Springs will add 89 townhomes adjacent to the Park's Edge and Retreat at Jordanelle communities.

White Pine Canyon Village at Canyons will feature 30 townhomes at the lower Canyons Village. The six twinhomes, two triplexes and three four-plexes will be located in walking distance to the the Canyons Cabriolet.

DEVELOPER ALERT: Hotel property parcels available in Deer Crest and at Canyons Village!

Insure that you have the best representation when buying and/or selling Midway real estate. Contact Real Estate broker Steve Blankenship at 435-640-6966.

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.

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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.

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Promontory Real Estate

By Steve Blankenship
Jul 20, 2016

Promontory real estate is still THE most popular golf community and best selling neighborhood in the greater Park City area. With over 55 properties sold this year and currently an additional 38 property listings under contract, Promontory is quickly surpassing last years sales numbers of approximately $113 million (1/1 - 7/20/15).

Promontory is an eleven square mile mountain sanctuary offering luxury lifestyle away from all the hustle and bustle of our everyday lives.  State of the Art amenities include: two championship golf courses; fifty miles of trails; an Outfitters Cabin; the Alpine ski lodge in Deer Valley; a Kids Cabin; an Equestrian Center; the Ranch Club house with fitness center, spa, pools and sports shop; the Dye Clubhouse with Grill and golf shop; the Nicklaus Clubhouse as well as the well-known Shed Clubhouse with bowling, movie theater, art studio, basketball arena, amphitheater, store, post office and bar/grill. Amenities set to open at Promontory summer 2017: Promontory Beach Club and a Conservancy's new recreation lake and adjacent playing field as well as a tubing hill.

Values at Promontory are still extraordinary with recent homes trading in the $400-500/square foot range while comparable high end second home markets sell for a lot more. For example Aspen $2,500 sq ft. or Vail $1,500/sq ft.

To celebrate the success Promontory now offers great buyer incentives on all remaining developer products. Incentives include fully sponsored club memberships, club credits, paid dues etc..

Contact Promontory Real Estate Specialist Steve Blankenship at 435-640-6966 to receive more information about properties at Promontory.

The greater Park City area has the highest density of championship golf courses in the country. Other golf communities in the Park City area include:

Canyons Village I Glenwild I Hideout Canyon I Jeremy Ranch I Park Meadows I Red Ledges I Tuhaye I Victory Ranch

Jordanelle real estate - Expansion & future growth!

By Steve Blankenship
Jul 12, 2016

The Jordanelle real estate market has been booming for the past few years. Buyers realized that they are still able to get more property for their money while only being only a few minutes outside of the Park City town limits. Most properties also offer easy access to golfing, boating and the Deer Valley gondola at the Mayflower exit.

The Jordanelle masterplan has been released years ago, however, it looks like things are starting to come together now. Supposedly six different land owners are proposing developments in the area right now. According to Wasatch County a Netherlands-based company that owns property on both sides of U.S. 40 at the Mayflower exit is seeking approval for a development with 2,000 residential units to be located mountainside from the upper reaches of Deer Valley Resorts east to U.S. 40. The application includes plans for a mountain ski village and additional lifts, condominiums, hotels and single-family townhouses. Several parcels will be up for sale to various hotel developers. In addition to that, the Netherlands-based company requested 451 residential units (single-family homes and stacked condominiums) to be built on the parcel between U.S. 40 and the Jordanelle boating ramp as well as another 578 units for the northern-most parcel, also for single-family lots and townhomes.

Wasatch County also recently approved more than 800 residential units to be located on the east side of U.S. 40. The applicant is proposing a hotel, commercial and light residential development directly east of where the gondola is. The applicant is considering putting in an underpass to link directly to Deer Valley.

Furthermore, Deer Valley Resort has put in an expansion proposal to include more ski lifts, runs and additional parking and roads to facilitate transportation.

The military has been donated a parcel just south of Deer Crest and is planning on adding a hotel for military personnel.

Armstrong, a Wasatch County Council member says: "It reminds me of what Park City may have been experiencing in the late 1990s and early 2000s in the run up to the Olympics. The base area they are contemplating over in Mayflower could be a huge economic driver for that region. It's actually quite remarkable."

Invest in the area today. Search Jordanelle real estate and contact KW Real Estate Agent/Broker Steve Blankenship at 435-640-6966 for assistance in buying and/or selling real estate in the greater Park City area. 

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New Townhome Development at Kimball Junction!

By Steve Blankenship
May 09, 2016

After Newpark Terraces and Nevis at Newpark have sold out quickly we can now introduce to you another new townhome development coming to Kimball Junction. Fiddich Glen will consist of 12 townhomes. Each residence will feature 3 bedrooms, 3.5 baths and a 2-car garage on approximately 1,727 square feet. Pricing starts in the low to mid $500s.

Call Steve at 435-640-6966 to receive more information about the development and how to reserve one of the townhomes. They won't last long!!

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Park City Real Estate Market - Quick Market Update - 1st Quarter 2016!

By Steve Blankenship
May 03, 2016

The Park City median sales prices are currently up 13 percent across all three major market segments: Park City Proper, Snyderville Basin and Heber City. We therefore are starting to see price resistance in some neighborhoods due to slower market absorption. In fact the number of closed sales in the first quarter of 2016 was down 13.8 percent from 2015. *data pulled from pcmls.*

Here in Park City, we’re still seeing neighborhoods with very tight inventory. This means if you list your home for sale, it will likely sell quickly and possibly above asking price. In other neighborhoods, sales are slowing down and home prices are lower than they were last year, or leveling off.

Interest rates are set to stay low for the rest of the year making it attractive for buyers to invest. On the other hand it increases the number of buyers looking at your home for sale.

Hot markets that did not see a dip in the number of sales: Upper Deer Valley with its finished Stein Eriksen Residences; Prospector; Canyons Village; Kimball Junction; Jordanelle area and the Heber Valley.

Now is a good time to sell. If you’re thinking about selling your home or would like to know what your home is worth, call KW Real Estate Broker Steve Blankenship at 435-640-6966.

Featured Property: 2373 Harmony Drive, Deer Crest

By Steve Blankenship
Mar 08, 2016

This amazing property is located in the Deer Valley real estate area of Deer Crest. The exclusive gated community of Deer Crest offers some of the most luxurious single family homes and condominiums in the world. This turnkey townhome at Deer Pointe features four bedrooms and seven baths, a tiered theater room, wine cellar, top of the line appliances, hot tub, beautiful hardwood floors as well as a lower level bar and pool table. Deer Pointe is located just minutes from Jordanelle Reservoir and St. Regis Deer Valley. A Deer Crest Club membership can be purchased to enjoy shuttle service and amenities at St. Regis. Deer Pointe has its own private hill track elevator ski lift for easy access to the Deer Valley ski runs. Listed at $4.1 million.

Contact KW Real Estate Broker Steve Blankenship for more information at 435-640-6966.

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Reservations coming in fast at One Empire Pass

By Steve Blankenship
Feb 23, 2016

Update One Empire Pass: Over the past few weeks the new ski-in ski-out development on Empire Pass in Deer Valley has already received reservations on 10 of the 27 luxury residences with only one penthouse remaining. Pre-construction pricing is still offered. Two-bedroom residences start at $1,595 million, three-bedroom condos start at $2,595 million and four-bedrooms are priced at $3,495. Four-bedroom penthouse residences are starting at $5,395 million.  (pricing is subject to change).

One Empire Pass is going to be the first lodge built on Empire Pass in over seven years. The intimate ski-in/ski-out resort hotel will comprise of 27 private condominium residences. All residences will span the entire width of the building and each unit will have direct elevator access, eliminating central hallways. Enjoy modern mountain living overlooking the Daly Chutes and Lady Morgan Bowl as well as the Old Town valley.

Estimated completion date is set for Thanksgiving 2017.

Call Steve today at 435-640-6966 to receive more information about the development and how to secure one of the spectacular ski residences for yourself.

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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.

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