Park City Housing Market Update – October 2021


Park City’s iconic Town Lift and ski bridge to Main Street blanketed in a fresh layer of snow.

As I sit here writing this update and looking out the office window, Park City is coated in a brilliantly white blanket of fresh snowfall and it’s signature deep blue skies. If I didn’t know better, I’d say it looks more like mid-December than mid-October, the only difference being that the lifts aren’t spinning and the resort parking lots are mostly empty. Just a few days ago we were experiencing incredible Fall weather with Aspen groves displaying their most vibrant foliage in perhaps decades before the temperature cooled off and Autumn rain showers turned to winter-like snowfall.

Despite the shift in weather, the Park City real estate market is not cooling off. While there are noticeably less people in town, sales activity remains robust while inventory remains historically low. Last week our Park City Summit Sotheby’s offices pended nearly $75,000,000 in sales volume while closing just shy of $100,000,000 in volume in the same span. These are very robust numbers, especially considering that this is traditionally a relatively slower time in the market.

While the phrase “perception is reality” may be an applicable phrase to daily life and making the best out of ones circumstances, we would shy away from utilizing this moniker in relation to the Park City housing market. Different agents, buyers, and sellers will all have different experiences based on the types of property, the price point, and the location that they are trading in. Seeking advice from agents that consistently work in your location, price bracket, and property type is imperative, and combining that “boots on the ground” perspective along with what the market data and statistics are telling us is more important than ever. Factual numbers keep us all grounded in the reality of the marketplace, and help prevent false narratives from being spun and perspectives from being unintentionally skewed. We’ll look at some market data first, then shift to our personal perspective and experience. Think of it like reading the headline news first, followed by the opinion piece.

Park City Real Estate Market Stats

While the monthly supply of all available inventory on the Wasatch Front (greater Salt Lake Valley) has been steadily increasing from February through August, the Wasatch Back including Park City has seen less of a gain. After seeing a slight uptick in April and May with new listings coming to market in the springtime, inventory has continued to drop, with Park City proper registering less than one months supply of inventory. A sellers market is generally regarded as 0-3 months of inventory, so anything below a month is extremely strong for sellers and means there is very limited inventory for buyers. Average days on market also ticked up slightly in the spring, but has been in an overall decline since then.

Active single family and condo inventory displayed by month in the greater Park City area (84060 & 84098); courtesy of PCBOR

Park City Homes and Condos Below $1,000,000

  • Median sold price decreased 10.7% from August 2021 and decreased by 15.1% from September 2020 to a current price of $541,500. This would be an interesting number to break down by number of bedrooms and single family vs. condo, as my suspicion is these numbers are being skewed by progressively more units selling over the $1,000,000 mark. The overall pricing trend is still on the increase.
  • Median number of days on the market for September decreased again to just 7 days, down from 18 DOM in August 2021, and 20 DOM in September 2020. We continue to hear of new inventory in this price bracket receiving offers before buyers have even seen the property which would add to a further decline in days on market.
  • Active inventory decreased 33.3% from August 2021, and is down a whopping 83.2% from September 2020. For September 2021 there were only 46 active condos and homes on the market under $1,000,000, of which there is currently only 1 single family home.

Park City Homes and Condos Between $1,000,000 and $3,000,000

  • Median sales price ticked down slightly from August 2021 by 1.7%, and is down 5.7% from September 2021 to a current price of $1,565,000
  • Median number of days on the market for September 2021 almost doubled from the previous period, up to 17 DOM from only 9 DOM in August 2021, and down by 39.3% from 28 days on market in September 2020
  • Inventory is down 27.5% from 91 active listings in August 2021, and is down 61.2% from September 2020 a year ago, finishing September 2021 with 66 homes and condos on the market. There are currently 33 single family homes for sale, only 4 of which are located in the 84060 area code.

Park City Homes and Condos Above $3,000,000

  • Median sold price is up 5.0% from August 2021, and is up 6.4% from September 2020 to a current median sold price of $4,750,000. Just for reference, that number in February 2021 was $3,700,000.
  • Median number of days on market for February 2021 are 11 which is down 70.3% from 37 days on market in January 2021, and down substantially by 94.8% from 213 days in February 2020
  • Active inventory continues to drop across the board, with September 2021 registering 81 actives, down 12.9% from August 2021, and decreased by 52.9% from September 2020 a year ago
Single family home sales at all price points in September 2021 in the greater Park City area (84060 & 84098); courtesy of PCBOR
Multi-unit/stacked condo sales at all price points in September 2021 in the greater Park City area (84060 & 84098); courtesy of PCBOR

Our Observations of the Park City Real Estate Market

The autumn season in Park City always seems to bring with it a slowing in the general pace of town. Less visitors to town, less traffic and out of state plates, and just a more relaxed vibe throughout. With that in mind, there is also generally a slowing in the pace of real estate sales. We have observed that there does seem to be less buyers actively looking to purchase at the moment, though a number of these folks are simply hitting pause until after the holidays.

As inventory has decreased from earlier this summer, fewer options for buyers has lead to listings remaining competitive with multiple offers still relatively common. Good quality homes that are well priced remain in short supply and very competitive. The demand for condos under $1,000,000 remains very robust with a unit near Old Town recently receiving 26 offers, while another nearby had 10 offers. Single family homes within the Park City school district, especially in neighborhoods like Silver Springs, Ranch Place, and Park Meadows also remain highly sought after.

As a buyer, being prequalified or even pre-underwritten with a lender is essential, along with the willingness to be competitive with strong offer terms and timelines in addition to the offer price. It’s okay to be patient and wait to find the right thing, but if a property that is more than 80% of what you’re looking for hits the market, it would be wise to not overthink it.

For sellers the market remains strong, and the lack of competition (pending property type and location) at this time of year may be an incentive to list now as we can never be sure what the future holds. As always, listing with an agent who has a proven success rate and metrics to back it up is imperative. While we have seen more price reductions over the last few months, this is less of an indicator of a softening market, and much more about sellers over pricing their properties and being surprised when it hasn’t sold in a few weeks. Despite the strength of the market, relative value is still a major consideration of most buyers, and it is still possible to overprice your home.

Choose Park City Real Estate Sales for September 2021

  • We put 9 properties under contract for our clients for a total of $15,797,200 in pending sales
  • 10 sets of clients has their transactions finalized and we closed just over $19,000,000 in sales volume
  • 3 of our buyers had their offers accepted despite competing against multiple offers
  • 2 transactions went under contract before coming to market, making a total of 23 pre-market sales that we have been a part of so far in 2021
  • We have 74 transaction sides and over $113 million in sales volume pending and closed year to date in 2021

Thanks for reading this months market update, and as always, reach out to us if you have questions on how these numbers will affect you and your situation. Whether you are a possible Park Meadows home buyer, potential Deer Valley home seller, or an interested property investor, we can put the stats and our Park City housing market knowledge to work for you no matter what your needs and interests are. Everyone’s situations are different, so knowing how to apply the data is integral to making wise real estate decisions.

-Brendan Trieb, Choose Park City

The Future of Learning for Park City School District


https://www.friendsofparkcityeducation.com/

Since arriving in Park City 19 years ago, I’ve witnessed exponential growth and have seen the many ways it has affected our school environments. As Parkites, we’ve long been told (and do believe) that Park City School District (PCSD) is No. 1 in the state, but with aging buildings and crowded classrooms, the District has decided it’s time to reevaluate our learning spaces and what they should like to best serve our students today and in the future.

That decision led to The Future of Learning master planning project, encompassing years of community meetings, building evaluations and long-range planning to determine things such as: What grades should be in which buildings, which buildings can be renovated and which should be torn down, and the actual classroom learning environments that best serve the education of our nearly 5,000 students.

Like all investments, executing the recommendations within the Future of Learning comes with a cost, which is being put in front of all voters within the Park City School District boundaries (zip codes 84060, 84068, and 84098) on this November’s ballot. In Utah, the primary mechanism for funding school capital projects is through bond initiatives. While other entities – power, parks, water, sewer, etc. – can impose impact fees to lessen the impact of growth brought by new construction, school districts are legally prohibited from doing so, which means bond initiatives must be presented to voters to spread the cost of school district projects across taxpayers via property tax increases.

The specific goals of the Future of Learning project funded by the proposed bond, according to PCSD’s site, include:

Comprehensive 4-Year High School Experience – Community and faculty feedback overwhelmingly support providing a comprehensive 4-year high school experience.

Career and Technical Education (CTE) Enhancements – Community members expressed strong interest in bolstering CTE offerings and building on the success of PCCAPS in the renovation at both the high school and middle school. The District has seen that 95% of CTE students graduate from high school, which is 10% higher than the national average.

Full Middle School Experience – Community feedback supported the 8th grade students attending a middle school model at Ecker Hill Middle School.

Strengthen Community Services – The community and District leaders are strongly committed to providing early learning opportunities to all students in recognition of the importance of early learning to student success, social equity and closing the achievement gap. Neighborhood elementary schools will have early learning opportunities incorporated with wraparound community services at key locations in the District.

I encourage you to visit the school district’s FAQs page by clicking here. It breaks down the bond process and answers complex questions to help voters further understand the impact of the election. More information can also be found here, including upcoming community informational meeting dates. As the educational and emotional outcomes of our students become increasingly critical, re-envisioning the spaces where they spend so much of their developmental time has never been more crucial.  

A supported and educated community is one of the many reasons so many people Choose Park City. Connect with Christine Grenney at 435-640-4238, or visiting her website by clicking here to learn about the many mountain properties providing easy access to each of the state’s resort communities.

Fall Fun for Everyone!


With many of last fall’s family activities scrapped or downsized due to the pandemic, this year’s slate of festive happenings is robust, and rightly so!

Photo credit: Visit Park City

Dress-Up Days

Get a head start on dressing up at the Egyptian Theatre’s “Halloween Spooktacular!” by YouTheatre, bringing the classic stories of Dracula and Frankenstein to life on the Egyptian Studios’ stage. Billed as “a little bit spooky, a little bit silly,” the event is held Oct. 29 – 31, with tickets available by clicking here. The Egyptian is also hosting an “Evil Dead Film Fest,” hosted by “Evil Dead” star, Bruce Campbell. From Oct. 29-31, the Festival will feature the films, “Evil Dead,” “Evil Dead II,” “Army of Darkness,” and “My Name is Bruce.”

Basin Recreation’s “Celebrate the Spirits” event will be on Saturday, Oct. 30 from 11 a.m. – 1 p.m. For $15 per individual or $40 per family, revelers of all ages can enjoy trick-or-treating, costume contests, festive activities, and local vendors. Click here to learn more and purchase tickets.

The DeJoria Center in Kamas is hosting a Trunk or Treat on Oct. 30 from 3:30 – 6 p.m., with free admission and food/drinks available from the State Road Food Wagon. Families are invited to participate with their vehicle and enough treats to go around!

And it’s official! One of the most beloved locals’ events in Park City is back – Halloween on Main Street will be held on Oct. 31 from 3-5 p.m. This popular and highly anticipated event features storefronts up and down Main offering goodies to local ghouls and goblins, capped off at 5 p.m. with the Dog Parade on Lower Main Street. Leashed, costumed dogs and their owners should meet at 4:45 below the Lower Main Street Pedestrian Bridge, from which they will march to Heber Avenue. As with all Old Town events, everyone is encouraged to walk, bike, carpool or take Park City Transit to Main Street, with doggies welcome on the busses with their owners. For more information, click here.

Photo credit: American West Heritage Center

Pumpkin Picking

Nothing says “fall” quite like visiting a pumpkin patch on a mission to find the most fitting candidate for your family’s front porch jack-o’-lanterns!

As part of the ongoing transformation of the former Park City Nursery into the expanded Park City Gardens, a Pumpkin Patch and Haunted Forest has opened for the month of October. Admission is free, but a donation to the Utah Food Bank is encouraged. Hours are Monday – Saturday from 9 a.m.-5 p.m., and on Sundays from 10 a.m. – 5 p.m.

Park City Municipal is inviting everyone to show off their spooky pumpkin creations at the inaugural community Pumpkin Stroll, scheduled for Thursday, Oct. 28, at the Bonanza Art Park (corner of Munchkin Road and Bonanza Drive). Participants can drop-off an already-carved pumpkin at the Art Park between 10 a.m. – 3 p.m. on Oct. 28, then all submitted jack-o’-lanterns will be lit and placed around the park for community viewing from 4 – 7 p.m. Costumes are encouraged, with planned activities including pumpkin painting, piñata making, face painting and spooky tunes with DJ Funky Boss, lawn games, and beer garden.

In Wasatch County, Kohler Creamery hosts is Hay Maze and Pumpkin Patch, featuring a maze constructed from more than 100 straw bales on this working dairy farm, and the opportunity to select that perfect pumpkin to take home. Prices are $8.99 per person for the maze and pumpkin, or $11.99 for a VIP experience when you add on some yummy Aggies Ice Cream. Heber Valley Artisan Cheese curds, soups and grilled cheese sandwiches are also available for purchase. This attraction operates through Oct. 30 from Monday through Saturday during business hours (10 a.m. – 6 p.m.).

With more than 55 attractions in one location, Cornbelly’s in Lehi at Thanksgiving Point offers up a massive corn maze, apple blasters, duck races, a giant slide, a ropes course, hayrides, farm golf, and a cow train, among other family-friendly activities. Activities such as paintball, face painting, a u-pick pumpkin patch and a carousel are available for an extra fee. Cornbelly’s is open Monday-Saturday through Oct. 30, with extended hours until midnight on Fridays and Saturdays.    

If you’re up for driving to bucolic Cache County (70 miles north of Salt Lake City), the American West Heritage Center holds activities throughout October, earning it Reader’s Digest’s “Best Pumpkin Patch” honors for Utah. While the Fall Harvest Festival is held Oct. 15 & 16, and includes opportunities to press fresh apple cider, make candles and take a turn in the BB shooting range, the Center’s daily activities also include pony and train rides, a seven-acre corn maze (closed Sundays) and “Haunted Hollow” on Friday and Saturday nights.

Fun and festive community celebrations are one of the many reasons so many people Choose Park City. Connect with Christine Grenney at 435-640-4238, or visiting her website by clicking here to learn about the many mountain properties providing easy access to each of the state’s resort communities.

The Summit Sotheby’s International Realty Luxury Listing Difference


To those who value the unique and exceptional, Summit Sotheby’s International Realty is the local real estate provider that offers unrivaled access to the most qualified people and most distinctive properties around the world. When you list your property with Summit Sotheby’s International Realty, you get a truly international brand that can offer you the best exposure to the largest buyer pool, whether online or in print. From the Salt Lake Valley to Park City and Deer Valley, more people choose Summit Sotheby’s because luxury real estate is an experience, not a price point. View our Property Selling Services brochure below to learn about our many competitive advantages.

The Scoop on Season Passes


Photo credit: Park City Mountain

With the final colors of fall clinging to the trees in and around Park City, thoughts naturally turn toward the very season that brought so many of us here: Winter!

As we all begin to pray for snow, it’s time to decide where to lock or strap in for the upcoming ski season.

But first, if you’re looking to score a sweet deal on gear, be sure to check out one of the many “swaps” happening locally. The locals’ favorite is the Park City Ski Swap, an event that benefits and is run by Park City Ski & Snowboard (PCSS). Held at Basin Recreation from November 5-7, the Park City Ski Swap is the single largest fundraiser for PCSS, supporting the nonprofit program’s mission of developing young athletes in Park City and the surrounding communities. Friday night is considered to be the best night for deals and steals, so purchase your tickets ASAP! The ever-resourceful Ski Utah has culled a list of all swaps at the following link: https://www.skiutah.com/resources/utah-ski-swap

Photo credit: Deer Valley Resort

Deer Valley Resort
Season: Dec. 4, 2021 – April 17, 2022

Deer Valley Resort generally serves as home base for my family, as their reputation for world-class customer service is matched only by their acres of skiable terrain, with everything from bowls to groomers offering that famed “Deer Valley Difference.”

Regarding COVID-19 guidelines, DVR is following CDC recommendations and requires all visitors to wear a facial covering indoors unless eating or drinking in a designated area, and must social distance when possible. Outside, vaccinated guests are not required to wear a face covering, while unvaccinated guests must wear one if unable to social distance.

Full Season Passes are outlined in the table below:

PASS NAMEOCTOBER 14 RATEOCTOBER 15 RATE
Adult (23-64 years)$2,550$2,965
Senior (65+ years)$1,910$2,220
Young Adult (13-22 years)$1,575$1,890
Child (5-12 years)$715$830
College Student$1,785$1,960
Military Season Pass$1,785$1,960
Tot Season Pass (4 and under)$175$200

New this year, Deer Valley is offering “First Tracks” on specified days, providing early lift access to season pass holders on Jan. 28, Feb. 11, and March 25, 2022, with three additional First Tracks days for both Deer Valley and IKON season pass holders on Jan. 12, Feb. 16 and March 2, 2022.

Season Pass holders also receive discounts on Friends & Family passes, a Monday-Friday complimentary day ticket at Alta, Brighton, and Snowbird, discounts at Deer Valley-owned restaurants and retail outlets, and a complimentary 2022 Summer Season Pass if a 21/22 Full Season Pass is purchased before the October 14 deadline.

Another option is the Mid-Week Season Pass, with access Monday through Friday (excluding 12/26/2021 – 1/2/2021) for just $1,395 before the October deadline, with the price increasing to $1,510 afterward.

The Ikon Pass also offers days of skiing at Deer Valley, along with other local resorts like Snowbasin, Snowbird and Alta, with more info available at ikonpass.com.

To purchase passes or learn more, click here.

Photo credit: Park City Mountain

Park City Mountain
Season: Nov. 19, 2021 – April 17, 2022

Heading into the upcoming ski season, Park City Mountain has eliminated the skier reservation system it put into place last year in response to COVID-19 and is offering a 20% discount on season passes until October 14. This means the full Epic Pass, with no holiday blackout dates and access to all Vail Resorts-owned properties, is just $799 for ages 13 and older, and $407 for children. The Epic Local Pass, which excludes holidays (though half-price day passes are available for blacked-out dates), is $599 for ages 19 and older, $479 for teens ages 13-18, and $311 for children. The Park City Youth Pass – with no black-out dates, but good only at Park City Mountain and not at other Vail Resorts – is $319 for kids ages 5-12. Kids four and younger are eligible for a free Epic pass. With prices increasing on October 14, now is the time to lock in the above prices.

Park City also offers multi-day Epic Passes, ranging from one to seven days, which are good at most Vail resorts in the U.S. and at Whistler/Blackcomb, and start at $89 for one day for skiers ages 13 and older, and $47 for one day for children ages 5-13. For every day added, the price per day decreases, with the daily price for the seven-day pass just $77 ($533 total), and holidays are excluded.

There will still be COVID-19 mitigation protocols in place, including face coverings required in indoor settings, such as restaurants, lodging properties, restrooms, busses, retail and rental locations. Face coverings will not be required outdoors, in lift lines, or on lifts or gondolas. They are still requiring reservations to eat at many of the on-mountain restaurants, and guests aged 12 and older will be required to show proof of COVID-19 vaccinations to dine at indoor or on-mountain cafeteria-style restaurants.  

Benefitting active duty and retired military who served at least 20 years, the Epic Military Pass is just $151, and includes all dependents.

All passes offer 20% discounts on food, retail, lessons, and rentals, plus seven days of unrestricted skiing or snowboarding at both Snowbasin and Sun Valley for full Epic Pass holders (Epic Local Pass holders receive two days with restricted dates).

Woodward

Located along I-80 between Kimball Junction and Summit Park, Woodward offers a small-mountain experience for skiers and snowboarders, with half-pipe and park access, plus lessons that typically cost less than at the larger resorts. While they haven’t yet included their 2021-22 winter operations info online, keep an eye on their site for info coming out soon!

Photo credit: Snowbird

Snowbird
Dec. 1, 2021 – May (or even July, depending on the snowpack …)

A short drive (depending on the day) to Little Cottonwood Canyon brings you to the mecca of the most serious of skiers and snowboarders: Snowbird (though there is accessible terrain for all levels).  

Snowbird offers a variety of pass products, including the all-in Summit Pass with no blackout dates (see prices below), the Ten-2-Share Pass with 10 days of unlimited access to the Tram and chairlifts for $699 (can be shared with family and friends), the Flex-4 Tix for four days of unlimited skiing/riding for $349 (perfect for trying out the mountain), or the Mountain Collective Pass for 46 days of access to 23 destinations for $589 for adults.

Summit Pass Type2021-22 Pass Price
Summit Adult$1,399
Summit Senior (65+)$1,079
Summit Young Adult (19-25)$1,079
Summit College/Medical Resident/Military$1,079
Summit Teen (13-18)$699
Summit Youth (7-12)$439
Summit 6 & Under$89
Summit 4-Pack (2 adults + 2 kids 18 & under)$2,799
Pricing is tax exclusive – tax rate of 7.25% not including Ikon Bass Pass add-on benefit.
Prices and benefits are valid through February 28, 2022.

The Alta-Bird pass is also a great way for skiers (no snowboarders allowed at Alta) to experience the best of both iconic resorts, with prices as follows:

Alta-Bird Pass Type2021-22 Pass Price
Alta-Bird Adult$1,999
Alta-Bird Senior (65+)$1,749
Alta-Bird Young Adult (18-25)$1,749
Alta-Bird Military$1,749
Alta-Bird Teen (13-17)$999
Alta-Bird Youth (7-12)$699
Alta-Bird 6 & Under$169
Alta-Bird 4-Pack (2 adults + 2 kids 17 & under)$4,199
Pricing is tax exclusive – tax rate of 7.25% not including Ikon Base add-on benefit.
Prices and benefits are valid through February 28, 2022.
Photo credit: Ski Utah

Ski Utah 5th & 6th Grade Passport

Much to the chagrin (and surprise) of many parents, the Ski Utah 5th & 6th Grade Passport was only valid on weekdays last season, but that restriction has been lifted for the upcoming season, and at an all-in cost of just $45, 5th Graders can ski or ride three times at EACH of Utah’s resorts for possibly the best value on the planet! The 6th Grade Passport is a little more modest with just one ticket at each mountain, but that’s still 15 days of skiing for just $15. You can make this year one to remember by also getting the Ski Utah Yeti Pass for $649 for yourself, which provides one ticket at each of Utah’s 15 resorts to accompany your little shredder. Talk about Bucket-List-level of parenting!

Other easily accessible resorts in Northern Utah include the budget-friendly Brighton, easy-to-navigate Solitude, charming Sundance and expansive Snowbasin. A great rundown of all pass products, courtesy of Ski Utah, can be found here.

Utah’s fabled “Greatest Snow on Earth” is one of the many reasons so many people Choose Park City. Connect with Christine Grenney at 435-640-4238, or visit her website by clicking here to learn about the many mountain properties providing easy access to each of the state’s resort communities.

Summertime Events Will Go On!


Summertime is always a glorious time all along the Wasatch Back, but this summer, locals and visitors will be doubling up on the fun and experiences to truly celebrate our transition back to whatever looks like normal post-COVID-19. This means reintroducing the events that make our community so unique after last summer’s hiatus. We’ve compiled a list of those that have confirmed their 2021 return below.

Photo credit: Park City Farmers Market

Park City Farmers Market
Wednesdays through Oct. 27 from 11 a.m. – 5 p.m., Silver King Lot at Park City Mountain

This beloved Park City tradition is celebrating 20 years this year, and even opened two weeks early to make up for starting two weeks late last year due to the pandemic. Patrons can expect to find seasonal produce, locally-crafted goods (oils, breads, cheeses, jewelry and clothing), and prepared foods. Mask wearing will not be enforced, but the organizers encourage attendees to be respectful of other patrons and the vendors, keep safe distances, and are able to acquire a free mask upon request.

Photo credit: Park Silly Sunday Market

Park Silly Sunday Market
June 6 – Sept 26 (except July 25, Aug 1 & 8), Historic Main Street

One of the Park City summertime stalwarts is Park Silly Sunday Market, returning to its home on Main Street on Sunday, June 6. This free, zero-waste, open-air market transforms lower Main into a walkable experience featuring vendor booths, entertainment, kids activities, nonprofits, food and adult beverages. Some beloved PC businesses helped build their devoted followings at the Silly Market, including Freshies Lobster Co., and an untold number of pets have been adopted through Nuzzles & Co.’s presence each Sunday. But for many, it’s the beer garden, ginormous Bloody Marys and tasty food options that keep so many locals pedaling or walking their way up to Main Street each week.

While booths on Lower Main tend to feature jewelry, hats, clothing, art, soaps and other creative goods, farm stands are situated midway up Main on 5th Street by the Post Office, offering fresh fruits and vegetables.  

As with all Main Street events, folks are encouraged to keep their dogs at home, since the heat of the asphalt and jam-packed street are not conducive to keeping Rover happy and safe.

New this year, Silly Market will recreate itself in two other Utah towns, with Park Silly Saturday Market at the Shops in South Town on the 3rd Saturday of each month, and via Helper Saturday Vibes in Historic Helper Main Street Park on select Saturdays throughout the summer – both great options if you find yourself in the Salt Lake Valley, or traveling to/from Moab, on a Saturday.

Photo credit: Oakley Independence Day Rodeo

76th Annual Oakley Independence Day Rodeo
July 1, 2, 3 & 5,2021 at 8 p.m., Oakley City

There are few events that embody the definition of “Americana” quite like the Oakley Independence Day Rodeo. Oakley is one of Summit County’s most picturesque small towns, incorporated in 1903 and comprised of just 1,500 residents. Originally named “Oak Creek,” the town has stuck to its agrarian roots of dairy farming, cattle ranching and hay production, though outdoor enthusiasts have discovered its proximity to the Mirror Lake Highway/Wasatch-Cache National Forest, Rockport Reservoir and Weber River make it an ideal basecamp for water sports, fly fishing, mountain biking and camping.

This year, in addition to the traditional rodeo events like saddle bronc riding, tie-down roping and barrel racing, this year’s event will feature bullfighting and trick roping. Tickets for this iconic Eastern Summit County event are currently on-sale, and tickets for last year’s event will be honored on specific dates for 2021 (Please see link above).

Photo credit: Park City Kimball Arts Festival

52nd Annual Park City Kimball Arts Festival
August 6 – 8, 2021, Historic Main Street

This summer marks the return of the in-person Annual Park City Kimball Arts Festival, which is a relief to not only the locals who love the event, but also the restaurants and lodging properties who have long relied on visitors during the Arts Festival to help boost their summertime numbers. Last year’s, the Kimball Art Center accomplished an impressive feat by presenting a virtual event, but I think I speak for art enthusiasts everyone when I say, “Welcome back to Main Street!”

The decades-old event began in 1969 when group of local artists held an open-air arts festival on Main Street to provide a cultural offering during the summer months. Inspired by their efforts, local philanthropist, Bill Kimball, donated the former Kimball’s Garage to become the original Kimball Arts Center at its former 638 Park Avenue location, solidifying Park City as a destination for visual arts for the next half-century.

The Arts Festival has since grown to include 200+ professional visual artists, and brings 50,000 visitors to town annually. The caliber of artists who are juried into the event each year make it one of the premier festivals of its kind, with offerings ranging from fine jewelry and photography, to woodworking, textiles and sculpture. The Arts Festival also provides a culinary and entertainment experience that gives everyone something to enjoy, regardless of their propensity toward visual art.

The schedule and other specifics about this year’s event are still forthcoming, so keep an eye on their site at ParkCityKimballArtsFestival.org for updates and ticket information! 

Photo credit: Summit County Fair

Summit County Fair
August 6 – 14, 2021, Coalville

The annual Summit County Fair is back with its down-home demolition derby and rodeo as cornerstone events, but you’ll also find traditional county fair happenings like the Junior Livestock Sale, Little Buckaroo Rodeo, carnival rides, Miss Summit County Scholarship Pageant, food booths, beer garden, plus Home Arts, Horticulture and 4H exhibitions.

Photo credit: Swiss Days

Swiss Days
Sept. 3 & 4, 2021, Midway

In homage to its Swiss heritage, the Town of Midway in Wasatch County holds its annual Swiss Days event each Labor Day weekend, offering arts, crafts and culinary delights you won’t readily find at any other outdoor fair in our region

Each year’s event starts with a parade at 10 a.m. on Saturday morning through the heart of town, followed by food booths offering delicacies like Swiss Tacos (a version of fry bread), bratzeli cookies and zopf – braided swiss bread. Swiss-inspired entertainment in past years has included master yodelers, the Edelweiss Swiss Chorus and the much-anticipated (by Midway residents, especially) Swiss Miss Royalty pageant. And the craftsmanship of the artisans displaying their wares is awe-inspiring, and a great opportunity to get a jump start on your holiday shopping

A few tips for firstimers include leaving the stroller at home and opting for a carrier, parking in one of the outlying lots and taking the shuttle, and scheduling in time to check out the annual Soldier Hollow Classic Sheepdog Championship, held just a few miles away from September 3 – 6, featuring the world’s top sheepdogs and herders.   

Photo credit: Park City Wine Festival

Park City Wine Festival
Sept. 30 – Oct. 3, 2021

Making its return this fall, the Park City Wine Festival allows an opportunity for winemakers, culinary greats and guests to “gather, wine, play and dine” during this mountainside event takes place in classrooms, restaurants, around town and right on the mountainside, in some instances

Events include the “Grand Tasting” on Friday and Saturday, featuring hundreds of domestic and international wines, in addition to premium beers and spirits, located at the Canyons Village at Park City Mountain, and the “Best of Fest” at Montage Deer Valley, where the standout vintages of the participating wineries’ portfolios are presented, with limited tickets available. There will also be a variety of wine dinners and pairings, plus lifestyle and educational seminars. All events are for adults aged 21 and older, and can be found by clicking here.

Photo credit: Heber Valley Western Music and Cowboy Poetry Gathering

Heber Valley Western Music and Cowboy Poetry Gathering
Oct. 13 – 17, 2021

Often referred to simply as “Cowboy Poetry,” the Heber Valley Western Music and Cowboy Poetry Gathering has evolved over the years to become one of the nation’s largest gatherings of its kind. The event includes both local musicians and national headlining acts, but the true stars are the cowboy poets who pay tribute to Western Culture, often evoking both laughter and tears within the same reading. The event also includes a Buckaroo Fair with arts, crafts, cowboy gear, a Mountain Man camp and cowboy church. It’s a singular event that reminds us all why we chose to make our homes here in the Rocky Mountains.

For more information on the events and happenings that inspire so many to Choose Park City, connect with Christine Grenney at 435-640-4238, or visit her website by clicking here to learn more about the area.

Running with Ed Returns!


Voted “Park City’s Favorite Fundraiser and Sporting Event” seven years in a row, Running With Ed (RWE) is a relay-race fundraiser that benefits the amazing work of the Park City Education Foundation. PCEF’s been supporting Park City’s teachers, students and schools since 1986, and RWE is a fun and healthy way to contribute to their efforts, so I’m proud to once again co-chair the event on May 22, this year with parent volunteer extraordinaire and real estate wingwoman, Annie Cashiola.

Photo credit: Park City Education Foundation

The success of this year’s RWE is more critical than ever, as last year’s event was canceled due to the pandemic. Which meant the Foundation lost critical fundraising dollars they were counting on from the event just as they were stepping up to provide expanded community support for those affected by COVID-19. That support took the form of basic needs assistance, an Educator Wellness Initiative and Emergency Express Grants – all areas of focus that demonstrated the ability of this beloved nonprofit to pivot on a dime.

The seeming frivolity of RWE (did I mention the costumes?) belies the impact it’s had on our schools over the past decade, raising $2-million for PCEF programs, including STEM project materials, teacher grants, college prep materials for at-risk students, afterschool programs, art supplies and reading materials. It’s frequently noted that Utah consistently places dead last in the nation for class size, teacher salaries and per-pupil spending, so the Park City School District relies on the programs provided at no cost by PCEF to help keep our kids competitive with their peers in other states.

What makes RWE unique is the way the fundraiser rewards individual school communities for their participation in the form of $5,000, $3,000 or $2,000 school grants, sponsored by Park City Mountain/EpicPromise (every school with 50% or greater participation receives a $1,000 grant). 

Photo credit: Park City Education Foundation

Because of the pandemic, a new course had to be mapped out, with a few changes to help mitigate any health or safety concerns, including no single designated start and finish line. Instead, captains will select which of the six legs to start with, and runners will all begin running at the exact same time, based on their assigned start time. This year’s course is designed to focus solely on each of the District’s seven schools, and is as follows:

Leg 1 – 1.63 Miles – Jeremy Ranch Elementary to Ecker Hill Middle School
Leg 2 – 4.66 Miles – Ecker Hill Middle School to Parley’s Park Elementary
Leg 3 – 4.49 Miles – Parley’s Park Elementary to McPolin Elementary
Leg 4 – 1.22 Miles – McPolin Elementary to Treasure Mountain Jr High
Leg 5 – 4.28 Miles – Treasure Mountain Jr High to Trailside Elementary
Leg 6 – 5.22 Miles – Trailside Elementary to Jeremy Ranch Elementary

You can also click here for an interactive course map.

Registration from now through May 7 is $125, with Last Chance Registration kicking in May 8 – 14, so don’t delay! And you can pay it forward by scholar-shipping a student or teacher by contributing an additional $50 at check-out. Teacher and student registration is just $50 through May 14.

This year’s RWE Race Kit includes some pretty sweet swag!
Photo credit: Park City Education Foundation

To register, please click here, and reach out to me if you have any questions – I’m here to help!

If you want to participate, but don’t have the time to run or volunteer, you can donate to one of the many teams by clicking here (and if you’re feeling it, please choose my fundraiser under “Christine Grenney” – I’d be much obliged …). You can also click here if you’d prefer to directly support PCEF’s efforts by donating to a Classroom Grant ($2,500); Express Grant ($1,000); Preschool, Elementary Art & Afterschool ($500); PCCAPS, Bright Futures or STEM ($250); or to Support our Students, Teachers & Schools ($50). 

However you choose to support RWE, whether by cheering on runners you see in the street, joining a team or making a donation, the support for nonprofits like PCEF is one of the many reasons so many Choose Park City as their current or future home. You can connect with Christine today at 435-640-4238 to learn more about the amazing place where so many parents have decided to raise their children!

The Sounds of Summer Music are Officially Returning to the Mountains!


Nothing beats sitting under the star-filled sky in the cool mountain air with family and friends, listening to live music courtesy of some of the biggest names in the business. This summer, local promoters have worked tireless to bring the best and the brightest back to the Beehive State.  To help you map out your summer listening tour, I’ve put together a list of concerts scheduled both indoors and outside throughout the Wasatch Back, and at the larger venues in Salt Lake, so get our your calendar and fill in the gaps left by last year’s eventless summer!

Deer Valley® Music Festival, the long-running series from the venerable Utah Symphony | Utah Opera (USUO), is the cornerstone of summer concerts at Deer Valley’s Snow Park Lodge, and this year’s lineup is sure to impress.

To comply with possible COVID-19 issues, USUO has posted the following disclaimer:

Please note: all programs are subject to change given the ongoing uncertainty around the COVID-19 health crisis. Though USUO is planning for a revised season of performances and hopes to proceed without interruption, the organization is prepared to respond to recommendations from the state of Utah, health officials, and Summit County. Should USUO need to cancel or change elements of the season, ticket holders would be notified about options for ticket donations or exchanges into alternate programs. USUO continues to prioritize the health and well-being of its audience, musicians, staff, guest artists, and the entire community.

Photo Credit Deer Valley Music Festival

Tickets are either lawn or reserved, with low-slung (9” or lower) chairs allowed within the lawn seating area, and concert-goers provided the option to bring in their own food and drink. This series also offers discounted tickets for youth ages 4-18. And, while individual tickets are available for each show, you can also build your own package with the Design-A-Series and receive up to 20% off.

VIP packages that include special parking and admission to the Intermission Reception start at $1,000 (tickets not included), and since the USUO is a nonprofit, a portion of your purchase supports the arts and is tax-deductible.

Make it a carefree night by taking free public transit from Park City Mountain, where there is plenty of free parking and a convenient transit stop. The Red and Lime busses will take you directly to the concert venue.

Calendar of Dates:
July 2:
Utah Symphony’s Patriot Pops featuring Capathia Jenkins
July 9:
Kool & The Gang with the Utah Symphony
July 10:
Kristin Chenoweth with the Utah Symphony
July 16:
Super Diamond with the Utah Symphony
July 17:
The Temptations with the Utah Symphony
July 23:
The Magical Music of Harry Potter
July 24:
Take Me Home: The Music of John Denver starring Jim Curry with the Utah Symphony
July  30:
Little River Band with the Utah Symphony
July 31:
1812 Overture with Rachmaninoff’s Piano Concerto No. 2
August 7:
The Beach Boys with the Utah Symphony

The resort’s other concert series, presented by the folks who run The State Room in SLC and aptly named the Deer Valley Concert Series, has also announced its shows at the Snow Park Amphitheatre, and are as follows …

Calendar of Dates:
August 14
Indigo Girls
August 20
Nathaniel Rateliff and The Night Sweats (SOLD OUT)
September 3
Dark Star Orchestra (Night 1)
September 4
Dark Star Orchestra (Night 2)
September 5
Sheryl Crow

COVID has placed Park City’s historic Egyptian Theatre on hiatus, and though they’re going forward with summertime Youtheatre offerings and the beloved Park City Follies, they haven’t announced a line-up for Summer 2021, as yet. I would encourage all Egyptian fans to consider supporting the theatre and help to get them back open by joining The Pharaoh Club or making a donation by clicking here.

Park City Institute is once again hosting its summertime Big Stars Bright Nights series, which will be held indoors at the Eccles Center, and includes seven shows, including the swingin’ style of Big Bad Voodoo Daddy and concluding with county music legend Marty Stewart on Aug. 21. Click on any show below to purchase tickets for that performance.

Calendar of Dates:
TBA:
Complexions Contemporary Ballet, “Bach to Bowie” (rescheduled performance)
July 10:           
Upstate
July 17:           
Jocelyn and Chris Arndt
July 24:           
Justin Moore
July 30:           
Big Bad Voodoo Daddy
August 10:
The Robert Cray Band
August 14:      
An Evening with Stephanie Land
August 21:      
Marty Stuart

Concerts at Salt Lake’s beloved summer music venue, Red Butte Garden, are blessedly returning after being placed on-hold pending Salt Lake City’s COVID status. While some shows are sold-out (as noted below), you can enter your email at the link provided and they’ll let you know if tickets become available (consider purchasing a Garden membership now so that you’re all set when the 2022 shows go on sale)!

Calendar of Dates:
July 30
Jason Isbell and the 400 Unit (SOLD OUT)
August 1
Drive-By Truckers
August 4
Mat Kearney (SOLD OUT)
August 5
Travis Tritt
August 8
Wilco/Sleater-Kinney (SOLD OUT)
August 10
38 Special
August 13
Ballet West in the Garden
August 15
Dee Dee Bridgewater and The Memphis Soulphony, Meshell Ndegeocello
August 16
Galactic featuring Anjelika “Jelly” Joseph
August 17
Not Our First Goat Rodeo featuring Yo-Yo Ma, Stuart Duncan, Edgar Meyer & Chris Thile
August 19
Watchhouse
August 22
Blind Boys of Alabama/North Mississippi Allstars
August 23
ZZ Top (SOLD OUT)
August 25
Trombone Shorty & Orleans Avenue, Gov’t Mule (SOLD OUT)
August 26
Counting Crows (SOLD OUT)
August 29
Neko Case with AC Newman
September 2
Squeeze with Special Guest Colin Hay
September 5
Rodrigo y Gabriela with Special Guest David Keenan
September 8
Roger Daltrey (CANCELLED – CLICK HERE FOR REFUND INFO)
September 12
Kenny Loggins (SOLD OUT)
September 14
Lukas Nelson & Promise of the Real (SOLD OUT)
September 16
Michael Franti & Spearhead (SOLD OUT)
September 22
Billy Strings (SOLD OUT)
September 23
Khruangbin (SOLD OUT)
September 29
JJ Grey & Mofro with Very Special Guest Larkin Poe
September 30
Emmylou Harris (SOLD OUT)

Photo Credit: USANA Amphitheatre

USANA Amphitheatre, located on the western edge of Salt Lake County, is one of the state’s largest concert venues and has announced its full line-up of performances, all of which are shows rescheduled from summer of 2020. The venue is notorious for providing a rocking good time, and offers both reserved and lawn seating. Tickets for all shows can be purchased by clicking here.

Calendar of Dates:
June 11:                     
AJR – The OK Orchestra Tour
June 15:                     
Chicago – The Band & Rick Springfield
June 23:                     
Chris Stapleton’s All-American Roadshow w/Cheryl Crow & The Dirty Knobs w/Mike Campbell
June 29:                     
Santana / Earth, Wind & Fire: Miraculous Supernatural 2021 Tour
July 10:                       
Lindsey Stirling – Artemis Tour North America 2021
August 12:                  
Maroon 5 & Meghan Trainor
August 13:
Dierks Benley: Beers on Me Tour
September 3:
The Jonas Brothers: Remember This Tour
September 7:             
3 Doors Down
September 9:
Korn & Stand
September 22:            
KISS: End of the Road World Tour
September 23:                 
Alanis Morissette w/special guest Garbage & also appearing Liz Phair
September 24:
Lady A
September 29:           
The Doobie Brothers & Michael McDonald
October 2:
Pitbull
October 5:
311

Vivint Arena, located in the heart of downtown Salt Lake City, is the state’s largest indoor venue and hosts headlining tours.

Calendar of Dates:
June 3:                        
Justin Bieber
June 26:                     
JoJo Siwa
August 7:                    
Alan Jackson
September 17:           
Celine Dion
September 24:           
Luke Combs, Ashley McBryde & Ray Fulcher
October 1:                  
Michael Bublé
October 9:                  
Kane Brown
October 23:                
Dan + Shay
October 30:                
Andrea Bocelli

Also downtown, the Eccles Theatre hosts a wide array of entertainment, including touring Broadway productions, comedians and musical acts.

Calendar of Dates:
July 24:                       
Joe Bonamassa
September 24:           
Bill Maher

Located at the south end of the Salt Lake Valley, the Sandy Amphitheater is a 2,750-seat venue with both lawn and reserved seating. Their current lineup is included below, and includes a few shows that were rescheduled from last summer.

Calendar of Dates:    
July 13:                       
Trampled by Turtles & Caamp
July 23:
Orville Peck
July 30:                       
For KING & COUNTRY
August 3
King Crimson with Special Guest: The California Guitar Trio
August 4
Shakey Graves Was Here
August 7
Melissa Etheridge
August 20
The Magic of Queen
September 10
Charley Jenkins – Simply Charlie
September 11
NEEDTOBREATH: Into the Mystery Tour with Switchfoot
September 24
David Archuleta
September 27
Modest Mouse

Located in nearby Kamas, the DeJoria Center offers an indoor venue and year-round programming, with a free Thursday Night summer concert series sponsored by Mountain Town Music throughout June and July. Each concert starts at 6:30, and be sure to order and pick up your dinner onsite at the State Road Restaurant to enjoy during the show. 

Calendar of Dates:
June 24:         
The Wyld
July 1:             
Cactus Cola
July 7:             
Big Blue Ox
July 15:           
The Hardy Brothers
July 22:           
Starvin’ Heart
July 29:           
Troubadour77

Mountain Town Music will also present free shows at Canyons Village, Deer Valley’s Snow Park Amphiteatre, Park Silly Sunday Market, Miner’s Park on Main Street and Woodenshoe Park in Peoa. Shows at Canyons Village and DVR are included below, but please visit their site here for more information on additional venues and for the full summer calendar.

Calendar of Dates
Grand Valley Bank Community Concert Series at Deer Valley’s Snow Park Amphitheatre (shows are free, but an RSVP is required by clicking through on each link below):

July 14:
Jake & the Heist
July 28
The Powell Brothers
August 11
Junior & Transportation
August 25
Will Baxter Band

Canyons Village:
July 8:
Garrett Lebeau
July 10:
Ryan Montbeau
July 15
Wyatt Pike
July 17
Freddy & Francine
July 29
Kris Lager Band
July 31
Aiko
August 5
Hot Buttered Rum
August 7
Erica Falls
August 12
Taylor Scott Band
August 14
Turkuaz
August 19
Lost Coast
August 21
Freddy Jones Band
August 26
Danielle Ponder
August 28
Jeff Crosby

The wide array of musical offerings is one of the many reasons so many Choose Park City. You can, too, by calling Christine Grenney at 435-640-4238, or visiting her website by clicking here.

Exploring Your Options in the Heber Valley


While Park City has long been a popular destination for primary and second homeowners, it is PC’s neighbors to the south in Wasatch County who have seen an unprecedented level of growth in both population and housing options. Most unexpectedly, The New York Times recently listed Heber City as 5th among all metro areas for the biggest change in net in-migration (people moving in from other areas). While folks have been moving from Park City to the Heber Valley for years in search of less expensive housing options, wealthier homeowners have also staked their claim in a community where nearly every home boasts a view of majestic Mount Timpanogos, and the historically rural lifestyle is still accessible for many.

Photo Credit: Heber Valley Office of Tourism

A sister city to Trubschachen, Switzerland, Midway City is a picturesque hamlet within Wasatch County that takes pride in the Swiss heritage reflected in many of its buildings. For many, Midway represents a tonier area of the Heber Valley, but you’ll also find generations-old farms and ranches dotted throughout the community. Midway residents enjoy proximity to the Homestead Crater hot spring, Wasatch Mountain State Park, golf courses and the famed Ice Castles in the winter.

Photo Credit: Midway City

A few developments are currently being built in Midway, including Remund Farms, a neighborhood of new mountain and country homes located on 50-acres that were formerly the farm of the Remund family. This planned community features 175 miles of trails, parks, 30 acres of open space, a children’s discovery barn, neighborhood pool, clubhouse and fitness center, three spring-fed ponds and streams, gardens and playgrounds. Homes feature SmartHome climate control and security systems, high-performance dual-page low-E glass windows, water conserving toilets, faucets and shower heads, and energy-efficient LED lighting, among other green technology. Prices start at $765,000, with more floor plan information available here.  Phases 1 and 2 have sold out, but the reservation period for Phase 3A will be May 17-23, with construction starting September of this year. Visit their site here for more information on future phases.

Also located in Midway, The Reserve encompasses 83 acres and features 48 custom estate homesites surrounded by 30 acres of open space. Amenities include walking trails, waterfalls, a sports court and pool, with panoramic views of Snake Creek Canyon, Deer Creek Reservoir and Mount Timpanogos. Currently, seven homesites are still available – click here for more info.

Nearby, Saint Prex, located on Swiss Alpine Road (down the street from the Zermatt Resort), features two acres of open space and a trail system, and offers homes starting at $850,000.

Developments within Heber City offer the convenience of nearby dining and shopping, along with easy access to Highway 40 for those commuting to the Wasatch Front. Heber City includes a few more moderately-priced options, such as Stone Creek, located near Red Ledges at 830 North 1310 East and featuring 32 homes starting at $676,000, and Christensen Farms, conveniently located in the heart of Heber at 2400 Wild Mare Way, with custom-homes on large lots starting at $850,000.

Photo Credit: Red Ledges

The OG of luxury private communities in the Heber Valley is Red Ledges, located on 2,000 acres with 300 homes completed and 100 more in process. Boasting a private Jack Nicklaus Signature golf course and exclusive Deer Valley Resort ski access, Red Ledges is a four-season community providing club activities that include golf, tennis, horseback riding, swimming, fitness classes, hiking, biking, boating and fishing. The community features custom luxury mountain homes, cabins and cottages, and the opportunity to either buy an existing home, or build with the help of Red Ledges Homebuilding (RLHB). Homesites start as low as $195,000, and available properties starting at $1,575,000 for a cottage, or $1,900,000 for a home.

Whether it’s Park City real estate, or home buying opportunities in surrounding communities, the ability to match buyers with their ideal properties is one of the many reasons to Choose Park City for your Park City Real Estate investment. Be sure to connect with Christine today at 435-640-4238 to explore future adventures of your own! 

Park City & Heber Valley Housing Market Update – March 2021


Sunset over the Wasatch Back looking down towards our new 82 Old Ranch Road listing

With March often comes the first preemptive pangs of Spring. These brief respites from mid-winter snow and cold are just enough to get a taste of spring skiing and après t-shirt weather, only for snow and mid-winter conditions to quickly return. Based on annual averages March is the snowiest month each season, and while the jury is still out on this season (fingers crossed for some BIG spring storms!) there is no mistaking that March in the real estate world is as busy as ever. Just the other week our Summit Sotheby’s Park City offices placed over $114,000,000 in real estate under contract, while another $75,000,000 in transactions closed. Despite record low inventory, we’re still finding ways to get deals done. A powerful and connected network, proactive prospecting, and localized marketing are the lynchpins to servicing our clients in such a competitive market.

And believe me, it’s not just Park City. The Salt Lake market has been even hotter with massive buyer demand and just not enough listings to go around. Nearly everything is selling in multiple offers, with 15-20 offers becoming borderline routine in coveted areas of the valley. The Heber Valley housing market – where we will focus attention today – has also been very active, so much so that many of the areas new developments are pausing sales so that they can catch up to the construction demand. Enough with the intro, let’s dive into this month’s numbers.

Park City Real Estate

In order to get to our primary focus in this month’s update which is looking at stats in the Heber Valley housing market, I will keep the Park City portion of the update fairly general and brief. Lumping together single family homes and condos, it’s no surprise that active inventory continues to decrease, down 19% from January, and decreasing a whopping 62% from February 2020. New contracts in February were down 11% from January – not surprising due to a steadily decreasing inventory – but more than doubled up 132% from February 2020. This is due in large part to the fact that pretty much everything being listed (and even homes not listed) is going under contract as soon as it is listed. Average sales prices continue upwards with a 28% increase from January, and a 56% increase from February 2020 to a current average sold price of $2,200,000. More details below.

Single family home sales with a Park City address, all price points, for February 2021 as
compared to February 2020 and January 2021; courtesy PCBOR
Condo and townhome sales with a Park City address, all price points, for February 2021 as
compared to February 2020 and January 2021; courtesy PCBOR

Park City Homes and Condos Below $1,000,000

  • Median sold price increased 16.1% from January 2021 and decreased by 17.1% from February 2020 to a current price of $612,450
  • Median number of days on the market for February improved to a more “normal” sellers market at 28 days, surprisingly up from 11 DOM in February 2020, and up from 1 day on market in January 2021
  • Active inventory decreased 29.3% from January 2021, and is down 62.7% from February 2020, finishing the month of February 2021 with only 106 Park City condos and homes on the market, only 2 of which are single family homes

Park City Homes and Condos Between $1,000,000 and $3,000,000

  • Median sales price ticked up slightly from January 2021 up 3.6%, and is down 9.5% from February 2020 to a current price of $1,607,150.
  • Median number of days on the market for February 2021 are down to 6, a 14.3% decrease from January 2021, and down by 90.8% from 65 days on market in February 2020
  • Inventory is down 19.4% from 93 active listings in January 2021, and is down a massive 72.7% from February 2020 a year ago, finishing January 2021 with 75 homes and condos on the market

Park City Homes and Condos Above $3,000,000

  • Median sold price dropped 12.9% from January 2021, and is down 5.1% from February 2020 to a current median sold price of $3,700,000
  • Median number of days on market for February 2021 are 11 which is down 70.3% from 37 days on market in January 2021, and down substantially by 94.8% from 213 days in February 2020
  • Active inventory continues to drop even at the higher prices, with February 2021 registering 114 actives, down 8.1% from January 2021, and decreased by 49.3% from February 2020 a year ago

Heber Valley Real Estate

Drawing many parallels to the Park City real estate market over the last year, the Heber Valley area (including Heber, Midway, and surrounding areas) has also seen large increases in average price with large decreases in homes for sale. In May of 2020, active inventory for single family homes at at 156 units, well within the average range for spring time inventory over the previous 5-6 years. June 2020 began the slide into a steadily decreasing amount of inventory, to what is currently only 34 actively listed single family homes in the entire area.

While inventory has drastically decreased, median sales prices for single family homes have drastically increased. From $459,000 in April 2020, to a $1,071,601 median sales price in February 2021, the Heber Valley housing market has seen a massive shift. While the area is still considered an “affordable” alternative to Park City, there is no doubt the pricing accessibility is shifting dramatically. The same can be said for new construction developments in the area, of which there are many. As construction costs increase, so do the prices of new home builds. Some developers are even halting sales and adding monthly sales limits, as opposed to ordinarily trying to hit sales goals, so that they have an opportunity to catch up on construction for new builds that are already under contract. More details on this months pricing below.

Single family home sales in the Heber Valley housing market area, all price points, for February 2021 as compared to February 2020 and January 2021; courtesy PCBOR

Heber Valley Single Family Homes Below $750,000

  • Median sold price stayed about even from January 2021 and increased by 18.7% from February 2020 to a current price of $626,484
  • Median number of days on the market for February is down by 89.3% from January 2021 to a current DOM of 7, and down by 23.5% from February 2020
  • Active inventory is unchanged from January 2021 at 8 active listings, and is down 82.2% from 45 listings in February 2020

Heber Valley Single Family Homes Between $750,000 and $1,500,000

  • Interestingly enough, median sales price dropped 15.4% from January 2021, and is down 21.3% from February 2020 to a current price of $938,671
  • Median number of days on the market for February 2021 are down to 36, a 48.6% decrease from January 2021, and down by 15.3% from 43 days on market in February 2020
  • Inventory is down 33.3% from 12 active listings in January 2021 to just 8 in February 2021, and unsurprisingly is down a massive 86.2% from February 2020 a year ago

Heber Valley Single Family Homes Above $1,500,000

  • Median sold price is unchanged from January 2021, and is up 51.0% from February 2020 to a current median sold price of $2,295,000
  • Median number of days on market for February 2021 are 53 which is down 37.1% from 84 days on market in January 2021, and down by 9.5% from February 2020
  • Active inventory bumped up slightly month over month, with February 2021 registering 20 actives, up 11.1% from January 2021, however still down by a margin of 51.2% from February 2020 a year ago

Choose Park City Real Estate Sales for February 2021

  • We put 5 properties under contract and have $7,800,000 in pending sales
  • 3 transaction were finalized and we closed $6,400,000 in sales volume
  • 3 of our buyers had their offers accepted despite competing against multiple offers
  • 2 properties went under contract before coming to market, making a total of 6 pre-market sales that we have been a part of so far in 2021
  • We have 27 properties and over $39 million in sales volume pending and closed year to date in 2021

Thanks for reading this months market update, and as always, reach out to us if you have questions on how these numbers will affect you and your situation. Whether you are a possible Park Meadows home buyer, potential Deer Valley home seller, or an interested property investor, we can put the stats and our Park City and Heber Valley housing market knowledge to work for you no matter what your needs and interests are. Everyone’s situations are different, so knowing how to apply the data is integral to making wise real estate decisions.

-Brendan Trieb, Choose Park City