Contemporary Homes Blog

Sky Ridge-A Master Planned Community---Park City, Utah

By Joel Fine
Oct 31, 2018

PARK CITY, UTAH  – SkyRidge Development, LLC announces SkyRidge, an ideal four-season master planned community in Park City, Utah. This remarkable and rare property is located on the northwest shore of the Jordanelle and will consist of 485 premier home sites designated for single family homes on 670 acres with over 50% preserved as open space.

The Jordanelle Parkway, which will connect the Mayflower Exit on US-40 to State Highway 248 at Brown’s Canyon, is under construction and anticipated to be completed by mid-summer 2019.

SkyRidge offers the perfect balance of convenience, privacy, luxury, and active outdoor lifestyle. Residents will enjoy an extensive range of residential and recreational amenities and easy access to Deer Valley Resort, the new Mayflower Ski Village, the Jordanelle, and Park City Main Street.

The Clubhouse will be the heart of SkyRidge, and features an infinity pool, cabanas, splash pad, grocery café with bar, game room, fitness facility, and locker rooms.

The SkyRidge Golf Academy will be comprised of a pro shop, practice facility, driving range, putting greens and three golf holes. The three holes - par 5, par 4, and par 3 - are designed with multiple tee boxes and greens, creating a new challenge every time you play. Open to residents and the public.

The Equestrian Center at SkyRidge will be accessible to residents and the public. Participants will have use of the 18-stall barn, training facility, indoor and outdoor arenas, pasture, washing and grooming areas, and dedicated equestrian trails.

SkyRidge has worked diligently with Mountain Trails Foundation to connect the SkyRidge community to the Park City trail network and is adding miles of pedestrian, hiking, biking and horse-riding trails. SkyRidge is a place to escape from the everyday and become immersed in the tranquil natural scenery, picturesque sunsets, and starry night skies while reconnecting with what truly counts.

SkyRidge launched with an initial 132 homesites starting at $220,000 with anticipated completion late summer 2019. Homesite reservations are being taken. Berkshire Hathaway HomeServices Utah Properties is the listing agent.

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Contact me for details/ tour the new development:  Joel Fine, Realtor, Berkshire Hathaway HomeServices 435-901-2171


ABOUT BERKSHIRE HATHAWAY HOMESERVICES UTAH PROPERTIES Berkshire Hathaway HomeServices Utah Properties is an independently owned full service real estate brokerage known for successful development representation. With offices throughout northern Utah, the company has a long-standing track record of market dominance and dependability. Under the Berkshire Hathaway name, our agency holds the #1 position in Utah’s real estate marketplace and maintains an historic commitment to community-driven service.


Bitcoin and Park City, Utah Real Estate

By Joel Fine
Nov 21, 2017

Well it finally happened.  A real estate transaction closed in Park City Utah using Bitcoin!  A sizeable transaction at that--over $3 million.

Will we see more real estate transactions using Bitcoin or other cryptocurrencies?  Only time will tell!  Should be interesting.

Stay tuned

Park City, Utah: Real Estate 2016 Year-End Statistics

By Joel Fine
Feb 02, 2017

2016 year-end housing statistics for Summit and Wasatch Counties, as reported by the Park City Board of REALTORS® Multiple Listing Service, show that over the past four years, the number of closed, pended, and active listings has continued to trend at a healthy and stable rate, with an averaged median price increase of 7.5% annually. However, in 2016, the median sales price for single-family homes, condominiums, and vacant land increased at a rate double that number. Overall, the quantity of sold properties did not increase sharply over previous years, yet the dollar volume for our entire market area was up 18%.

President of the Park City Board of REALTORS®, Sara Werbelow adds, “We have experienced a sustainable growth trend for several years. Areas surrounding Park City Proper, such as the Heber Valley and Jordanelle, are proving to be a consistent and robust draw for both primary and secondary homeowners, as buyers are capitalizing on new construction and great value.”

Single-Family Home Sales

Activity within the City Limits (84060)

With limited inventory and high demand for single-family homes within the City Limits, the median price climbed to $1.69 M.

  • Lower Deer Valley doubled in the number of homes sold and saw a 15% increase in median price reaching just under $2.2 M.
  • Park Meadows, consistently in high-demand, experienced seven fewer sales than in 2015 but ended the year with a slight increase in the median price to $1.59 M.
  • The number of sales in Prospector was on par with last year, but median price rose 13% hitting $833,000.
  • Old Town, with seven fewer closed sales than in 2015, ended the year with a median price of $1.48 M – up 12%.
Activity within the Snyderville Basin (84098)

With 366 home sales in 2016 – a 7% increase over last year, the Snyderville Basin accounted for the highest dollar volume in our market area with a median price reaching $968,000.

  • With 46 closed sales – 12 more than the previous year, Trailside took a lion’s share of activity in the Basin and also increased 13% in median price to $723,000.
  • Jeremy Ranch averaged one sale per week, with a total of 52 closed sales – 11 more than in 2015, and held on to a median price of $922,000.
  • The number of sales in the Canyons area went from nine to 23, several of which were in the Colony, ending 2016 with a median price of $5.89 M.
  • Silver Springs had ten fewer sales than last year, showing some market resistance to rising home prices in that neighborhood. The median price also dipped slightly to $897,000.
  • Kimball Junction saw more activity than last year with 16 closed sales and a 12% median price increase to $553,000.
  • Promontory climbed 20% in median price, reaching $2 M, and kept pace with last year’s number of sales.
Activity within the Kamas Valley

Overall, single-family home prices in the Kamas Valley rose 22% in 2016, compared to the previous year, with a median price reaching $380,000.

  • The Oakley / Weber Canyon area accounted for half of the total number of sales in the Kamas Valley with 45 and ended the year with a $387,000 median price.
  • Woodland / Francis saw more activity than in previous years and held on to a median price of $428,000.
Activity within the Heber Valley

With 359 home sales – 111 more than in 2015 – the Heber Valley rivaled the Basin’s number of units sold seeing areas of hot activity, with a median price of $394,000.

  • Midway / Charleston had 29 more sales than last year – which is a 38% increase, with a median price was $480,000. Approximately 40% of the homes in Midway are second-homes.
  • The Heber City / Daniels area accounted for the bulk of the single family home sales in the Heber Valley with a total of 214 – that is 83 more than 2015. The median price of a home gently coasted to $359,000.
Park City Board of REALTORS®’, Statistics Committee Chair, Carol Agle explains, “Our market area has a bifurcated buyer pool. The market resistance for single family homes seems to be at the $1 million price point and consumers have started to erase any preconceived, artificial delineation of zip codes and addresses.”

Condominium Sales

With 318 condominiums sold in 2016, Snyderville Basin (84098) outpaced the Park City Limits (84060) by 15 units. Despite double-digit price increases in both zip codes, demand continued to be strong in both the City Limits and in the Basin with the median price of $685,000 in town and $468,000 out of town.

City Limits

  • Old Town had the highest number of closed sales by neighborhood within the City Limits, averaging two per week with 118 and saw a 26% jump in median price to $568,000.
  • Park Meadows had ten fewer sales than the previous year and crept along with a median price close to last year’s number at $565,000.
  • Lower Deer Valley, with 24 fewer sales than last year, was up slightly in price to $831,000.
  • Prospector, the most affordable neighborhood within the City Limits, had a median price of $139,000.
Snyderville Basin
  • With new product closing at Canyons, that area had an uptick in quantity sold, averaging ten sales per month, and saw a 53% jump in median price to $615,000.
  • Due to large projects closing at the end of 2015, the Kimball Junction area experienced a decrease in the number of units sold in 2016 but finished the year with a solid 79 closed sales, which is close to two sales per week.
  • The Pinebrook area had a solid year with 63 units sold and maintained a steady median price of $437,000.
  • The appeal of new product in the Jordanelle area kept buyers’ interested, as can be seen by a 28% increase in the number of sales and median price of $479,000.

Looking Ahead

The number of active properties has remained surprisingly consistent over the last several years, with 1,840 currently listed on the Park City MLS. Prices in our market area have continued to rise year-over-year as both primary and secondary homeowners desire to live, work, and play in Summit and Wasatch Counties. Finding affordable property in certain areas remains challenging with high demand, limited inventory, and rising home prices. Buyers continue to look for value and affordability in outlying communities. With the average home remaining on the market between 7 – 11 months, properties listed at or below their neighborhood median price sell almost 4 times as quickly.

Our market area is complex and constantly changing and evolving with micro-markets dividing product by property type, location, price, age, and amenities. Buyers and sellers are advised to contact a local Park City REALTOR® for information on what is happening in your neighborhood.

These are the best cities for a fresh start

By RealCove
Apr 30, 2018

If you’ve ever had to move to another city for a job, you’ll know just how difficult relocating your life can be.

But some parts of the country may be better suited for a fresh start — places like Buffalo, New York; Minneapolis; Salt Lake City; and Austin, Texas; are among some of the most receptive, a new study by online lending exchange LendingTree indicates.  Read more on >

Red Butte Concert Series

By RealCove
Apr 17, 2018

Concert season is upon us, here is Red Butte's Concert Series line up for 2018 > 

These are the states with the highest paid millennials

By RealCove
Apr 17, 2018

Are you a millennial? Looking for a new place to live? Well, you may want to consider the following cities.

Personal finance site WalletHub put together an analysis of the top cities for millennials (Pew Research Center defines millennials as being born from 1981 to 1996) based on rankings that didn’t include which cities have the best avocado toast or the most Instagrammable neon signs.

The study looked at job earnings, unemployment rates, voter-turnout rate and affordability (the cost of a Starbucks latte was factored in) as well as education and health. So which states got the best ratings?  Read more on > 

Here is the best place to live in Utah

By RealCove
Apr 17, 2018

A new report from Niche, which ranks the best and worst places to live across the country, identified the Greater Avenues neighborhood as the No. 1 spot to live in the Beehive State.

Park City finished second on the list, followed by Yalecrest (located on the east bench of Salt Lake City), Kaysville and North Logan.  Read more at >

A Quick Guide to Home Buying

By RealCove
Apr 17, 2018

A great article in Rismedia about Home Buying >

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