Park City Board of REALTORS® Releases Annual Statistics

The Park City Board of REALTORS® 2017 year-end summary report shows the overall real estate market in both Summit and Wasatch Counties to be steady, healthy, and growing sustainably. With 84% of single-family home sales in 2017 occurring outside of Park City limits, it is clear that primary home buyers in Utah are looking more and more to the Wasatch Back, which continues to be a competitive market. Todd Anderson, President of the Park City Board of REALTORS® says, “These growth rates are highly sustainable. We believe the real estate market in Summit and Wasatch Counties is balanced between buyers and sellers. That being said, the market could always use more inventory.”

Year-Over-Year Single Family Home Sales

Within Park City limits, sales increased by 13% and the median sale price increased by 12%.

• Old Town sales increased 30%.
• Park Meadows median sale price increased 13%.
• Prospector sales increased 30% and median sale price increased 6%.

In the Snyderville Basin, sales increased by 7%.

• The Canyons area had sales increase 13%.
• Silver Springs median sale price increased 6%.
• Pinebrook median sale price increased 7%.
• Jeremy Ranch sales increased 25% with a 5% increase in median sale price.
• Promontory sales increased 20%.

Other areas in both Summit and Wasatch Counties also saw increased sales and rising median sale prices.

• Heber Valley median sale price increased 15%.
• Jordanelle sales increased 66%.
• Kamas Valley sales increased 4%.
• Oakley and Weber Canyon sales increased 14%.

Year-Over-Year Condominium Sales

Sales inside Park City limits increased by 14%, while the median sale price in the Snyderville Basin increased by 6%.

• Old Town sales increased 19%.
• Lower Deer Valley sales increased 18%.
• Kimball sales increased 3% with a median sale price increase of 33%.
• Pinebrook median sale price increased 10%.

Greater Park City Quarterly Market Update

A Market Update Report comparing Current Year vs. Previous Years

We invite you to review Higman Real Estate Team residential market update for the Greater Park City area for the Quarter, comparing current year with previous years. This update also provides market data for Summit County, Wasatch County, 84060, 80498. 

PCMLS areas include: Aerie, Deer Crest, Empire Pass, Glenwild – Silver Creek, Jeremy Ranch, Jordanelle, Kimball Junction, Lower Deer Valley® Resort, Upper Deer Valley® Resort, Old Town, Park Meadows, Pinebrook, Promontory, Prospector, Silver Springs, Summit Park, Sun Peak – Bear Hollow, The Canyons, Trailside Park, Heber – Daniels, Midway – Charleston, Timberlakes, Kamas – Marion, Oakley – Weber Canyon, Wanship – Hoytsville – Coalville – Echo and Henefer,  Woodland – Francis.

Q4   2017

Deer Valley & Park City Limits

Deer Valley does not have its own zip code, so if you are looking for Deer Valley Statistics, they are included in the Zip 84060 chart below...

Snyderville Basin Real Estate Sales Statistics

The Park City limits end near the "White Barn." Many of the neighborhoods in the Park City school district lie outside the city limits. This includes neighborhoods near Canyons resort, Old Ranch Road, Kimball Junction, Trailside, Jeremy Ranch, Pinebrook, and Summit Park.

If you want a general market snapshot delivered to you via email, please click on the "MARKET STATS" box on the right side of your screen.

Want Customized Reports for Your Neighborhood?

If you own a Deer Valley or Park City property (or you are considering investing in a specific area) and want a complete market snapshot of your favorite neighborhood, we can conduct the research on your specific area of interest and email you a customized market snapshot that includes details on what real buyers actually paid and specific properties that may be relevant to yours.

If you would like a customized statistical summary of any specific Deer Valley, Park City, or other Summit or Wasatch County neighborhood, please complete the form below, and note your specific neighborhood of interest in the "message" field:

Getting Your Park City and Deer Valley Home Ready To Sell

Getting Your Home Ready to Sell

When you have made that very important decision to sell one or more of your homes in Park City and Deer Valley, Utah, you know that this can be a very exciting time. You may be getting ready to move into a new home, and you need to sell as soon as possible, or perhaps you may have the luxury of a longer timeframe. Either way, there are some important tips to keep in mind. The first step is to enlist the services of a qualified and knowledgeable Park City/Deer Valley real estate agent. At Higman Real Estate Team, we can help you navigate all of the various intricacies of the selling process.

Why Use a Park City Real Estate Agent?

Many people think that selling their home is an easy process. Just put up a sign and wait for a buyer. However, that effort will not place your home in front of the greatest number of potential buyers. With a Park City real estate agent, your home will be marketed across many different marketing medias, including the Multiple Listing Service (MLS), traditional media outlets, and many others.

Additionally, there is all that paperwork. In the state of Utah, the majority of real estate transactions require specific, legally binding paperwork. A realtor in Park City, Utah will have access to all the forms and paperwork that may be required for offers and final purchase contracts.

Preparing Your House

As you start preparing your home or even homes in Park City and Deer Valley, Utah, you will want to make sure that it has the best “curb appeal” possible, as well as an interior that shines. However, keep in mind that you don’t want to spend a lot of money. Most buyers will be impressed by upgrades and improvements, but probably won’t be willing to pay a higher price. You can make a few necessary or minor improvements and repairs to make your home more attractive. These improvements can include a fresh coat of paint, or simple upgrades such as new cabinet hardware. Finally, reduce the clutter and make sure your home has a bright, open look. Let buyers envision themselves living there.

You should make sure that your home also shines on the outside. Make sure that the landscaping is attractive and that the front area has a welcoming appeal. Make sure that the foundation, walkways, and patio areas are in good shape.

Enlist Our Pros

At The Higman Team, we understand how selling one or more of your homes in Park City, Utah can be an exciting and somewhat trying time. Higman Real Estate Team of Park City, Utah can help you through the entire process from listing your home, getting it ready for market, and more! When you’re ready to sell, just give us a call!

Punxsutawney Phil predicts 6 more weeks of winter!

The results of Groundhog Day 2018 are in: According to legend, we're in for six more weeks of winter because Punxsutawney Phil saw his shadow. That's in spite of forecasts that predicted a cloudy, shadow-less morning.

The Pennsylvania groundhog isn't the only weather-predicting rodent in this quirky American tradition, but he is the most famous. And according to the Punxsutawney Groundhog Club, his opinion is the only one that matters.

At 7:25 a.m. Eastern time on a hill outside Punxsutawney, Pa., known as Gobbler's Knob, the seemingly immortal Phil — the same rodent who launched the tradition in 1887, if you believe his handlers — looked for his shadow.

They reported that Phil communicated in "groundhogese" that he had cast a shadow.  According to legend, that means the weather will be wintry for the next six weeks.

That's his typical prediction: It's only happened more than 100 other times in the 132-year history of the tradition.

Even so, there's some good news: Phil is usually wrong.

If Phil didn't see his shadow, it would have been an early spring.

The Punxsutawney Groundhog Club's Inner Circle — a group of men who organize the event and care for groundhog Phil — brought Punxsutawney Phil out of his den in front of a large crowd as cameras beamed his image around the world.

If you ask Phil's handlers, called — no joke — the Inner Circle of the Punxsutawney Groundhog Club, the groundhog's predictions aren't geographically specific (they always come to pass somewhere). He also relays his predictions by speaking "Groundhogese" and sips a "groundhog punch" that staves off death.

In Milltown, N.J., Groundhog Day festivities have been a tradition for 10 years. The original Milltown Mel died in July 2015, but his friend took over his name and has carried on with the tradition.

Based on past weather data, "there is no predictive skill for the groundhog during the most recent years of the analysis," according to a report released this week by NOAA's National Centers for Environmental Information in Asheville, N.C.

Flipping a coin might be as accurate as Phil. Since 1988, the groundhog was "right" 14 times and "wrong" 16 times. In other words, only 14 times did the national average temperature for the remainder of February match what would be expected based on what the groundhog predicted.

Questions - Sundance 2018

Sundance has always celebrated diverse voices, and the 2018 edition of the festival is no different. This year, 38% of movies here are directed by women and 32% of movies are from non-white directors. Here are the five biggest questions facing studios and filmmakers as the festival launches.

1. Will Amazon and Netflix Continue to Dominate the Market? The past two Sundances have been tales of two streaming giants. Flush with cash, Amazon and Netflix have nabbed most of the festival’s hottest titles, paying high seven figures and eight figures for the likes of “Mudbound,” “The Big Sick,” “Manchester by the Sea,” and “Icarus,” while leaving more traditional studios to fight for scraps. That may be changing, however. Amazon is producing more movies and buying fewer completed films, and Netflix has faced some pushback from filmmakers who don’t want their work to debut on the streaming platform with only a nominal theatrical run. If Amazon and Netflix stop writing checks, will a new player enter the fray promising big paydays? And after months of throat clearing about producing original content, could Apple or Facebook finally make a splash? The time may be ripe for a new digital goliath to emerge.

2. Will Fox Searchlight Splurge Again? The indie label has been a force at past Sundances, but a looming sale of its parent studio, 20th Century Fox, to Disney could make the company wary of breaking out the checkbook. That might be a good thing. Searchlight has made several bad deals at recent Sundances, splurging millions on “Patti Cake$,” “Me and Earl and the Dying Girl,” and “The Birth of a Nation” only to see them bomb at the box office. Recent Searchlight hits such as “The Shape of Water” and “Three Billboards Outside Ebbing, Missouri” were all developed internally, which may be a safer way to go.

3. Will Sundance Kick off the 2019 Oscars? Last year’s Sundance unveiled a record number of awards contenders, including “Call Me by Your Name,” “Get Out,” “Mudbound,” and “The Big Sick.” And recent editions of the festival have seen the debuts of such Oscars best picture contenders as “Boyhood,” “Whiplash,” “Manchester by the Sea,” and “Brooklyn.” It’s not just that the movies playing at Sundance have gotten better. It’s that, in the last decade or so, the Oscars have gone decidedly more independent. Among the buzzier titles that could be among next year’s awards darlings: “Juliet, Naked,” a comedy adapted from a Nick Hornby novel, starring Ethan Hawke; “Monsters and Men,” a drama about the justice system; and “The Miseducation of Cameron Post,” a gay conversion therapy drama starring Chloe Grace Moretz.

4. How Political Will Sundance Be? Donald Trump, and the #Me Too and Time’s Up movements will likely loom large at this year’s festival. It’s been quite a year for Hollywood. The Weinstein scandal has exposed a series of sexual harassers and abusers, and galvanized women in the industry who are sick of being under-paid, under-represented, and subjected to hostile work environments. There’s already a women’s march planned for Saturday morning, and it stands to reason that there will be a lot of fiery speeches when filmmakers and festival organizers take the stage to premiere new films.

5. Who Will be the Sundance Breakout Stars? Twelve months ago, a mention of Timothee Chalamet’s name drew blank stares. Now, he’s a certified Oscar contender thanks to “Call Me by Your Name.” Throughout its history, Sundance has been a launching pad for promising talent. Directors such as Quentin Tarantino, Ryan Coogler, and Dee Rees all got their starts at the mountainside festival, while actors such as Jennifer Lawrence, Joseph Gordon-Levitt, and Michael B. Jordan have all emerged as performers to watch following buzzy turns in Sundance favorites. Who will join their ranks this time?