Sundial Lodge – 3720 N. Sundial Ct. #B513, Park City, Ut 84098

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Canyons Resort Real Estate Sales Report – Quarter 3 2014

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Canyons Resort Real Estate Q2 2014 Sales report

Canyons Resort Real Estate Sales Statistics for Q2 – 2014

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Its Mid-July so I guess it’s time to talk about sales statistics regarding Canyons Resort Real Estate. So welcome to the Canyons Report.

I am going to try and make this as quick as possible. Canyons Resort Real Estate has dropped overall about 15% in the second quarter of 2014, but the sales dollar volume didn’t drop off all that much only a 4% drop overall. Now if you take a look at Canyons Resort Real Estate sales for the first six months of the year we have had only a 2% drop in the number of transactions. Primarily due to strong sales in the Grand Summit and Colony Land. Sales dollar volume is only down 1% overall for the first six months of 2014. The great news is that we already have 18 pending sales going into the third quarter and there was only 22 closed transaction in the third quarter of 2013. It is a very good possibility that our third quarter sales could turn us positive for the year.

Now as you can see in the report condominium sales are off 26% and dollar volume is off 33%. We are not exactly sure of why, other than inventory is low in the properties that have been popular. We do feel that this is going to change going into the 2014 – 2015 ski season as interest traffic is up over the same time in 2013.

One of the bright spots for Canyons Resort Real Estate so far this year is the Grand Summit. They have had a 150% increase in sale over quarter 2 of 2013. And if you take a look are the first half of the year there is a 167% increase in closed transactions and a 273% increase in the dollar volume sold. We are hopeful that this trend will continue, but inventory is becoming an issue with only 26 listings currently on the market.

Canyons Resort Real Estate sales in the Single family home area are flat so far this year, and that is primarily due to the lot sales in the Colony are very very strong. People are electing to build rather than look at existing single family options over the past couple years. We do think that that trend will change within a year or two as lot prices start to increase and the cost of construction goes up.

I hope you found the information helpful. This report is definitely wave top information if you would like more in-depth details please give me a call 435-901-2836 or shoot me an email jeff@bhhsutah.com

You can always find information and other Canyons conversation topics at www.parkcityarea10.com or www.canyonsre.com

PENDING SALES GOING INTO QUARTER 3

q2 for website

All the best

Jeff Lykes

“Nobody knows Canyons Resort Real Estate better Than Park City Area 10 Real Estate” Serving The Colony and Canyons Resort Village.

Canyons Resort Real Estate Report Q1 2014

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Quarter 1 2014 Canyons Resort Area Sales

The Park City Board of Realtors has reported these Quarter 1 2014 Canyons Resort Area Sales, for the time period, January 1 – March 30, 2014.

All of these real estate sales are in the immediate Canyons Resort area of Park City, UT

waldorf astoria park city,canyons resort,park city,84098,canyonsre.com

MLS # Class Address Subdivision BD BA
SqFt Tot
Sold Price Date Sold
1
9998322 CO 2025 CANYONS RESORT DR # X-8 Red Pine 2 2 1080 $299,000 1/7/2014
2
9998401 CO 3988 N TIMBER WOLF LN # 10B Timber Wolf Lodges 2 3 1121 $398,933 1/10/2014
3
9995266 FI
3855 N Grand Summit DR # 386/388 Q3
Grand Summit Hotel
2 3 1303 $120,000 1/13/2014
4
9996660 CO 3995 N TIMBER WOLF LN # 1D Timber Wolf Lodges 2 3 1213 $399,000 1/23/2014
5
9998190 CO 2669 CANYONS RESORT DR # 502 Silverado Lodge 3 4 1703 $505,000 1/24/2014
6
9998647 FI
3855 GRAND SUMMIT DR # 545/547 Q2
Grand Summit Hotel
3 3 1925 $192,000 1/28/2014
7
9998248 FI 3855 GRAND SUMMIT DR # 205 Q1
Grand Summit Hotel
1 1 766 $50,000 1/30/2014
8
9998249 FI 3855 GRAND SUMMIT DR # 320 Q1
Grand Summit Hotel
1 1 766 $50,000 1/30/2014
9
11400286 CO 3558 N ESCALA CT # 342 Hyatt Escala Lodge 1 1 680 $367,000 1/31/2014
10
9998552 FI
3855 GRAND SUMMIT DR # 465 / 467 Q4
Grand Summit Hotel
2 2 1200 $107,000 1/31/2014
11
11400186 FI 3855 GRAND SUMMIT DR # 700 Q3
Grand Summit Hotel
4 5 3693 $350,000 2/6/2014
12
11400184 FI 3855 GRAND SUMMIT DR # 700 Q2
Grand Summit Hotel
4 5 3693 $350,000 2/6/2014
13
9998689 CO
1920 W CANYONS RESORT DR # 38-B
Park West/Hidden Crk
3 3 1500 $425,000 2/7/2014
14
9990769 VL 4 WHITE PINE CANYON RD The Colony $2,100,000 2/17/2014
15
11400089 CO 2100 W FROSTWOOD BLVD # 7103 Waldorf Astoria 3 4 1628 $1,255,681 2/18/2014
16
9997627 FI 3855 GRAND SUMMIT DR # 142 Q3
Grand Summit Hotel
0 1 404 $36,000 2/25/2014
17
9991362 FI
3855 N Grand Summit DR # 444 Q3
Grand Summit Hotel
1 1 766 $55,000 2/27/2014
18
9994152 VL 51 WHITE PINE CANYON RD The Colony $1,050,000 3/4/2014
19
11400187 FI 3855 GRAND SUMMIT DR # 700 Q4
Grand Summit Hotel
4 5 3693 $350,000 3/15/2014
20
9995546 FI
3855 N Grand Summit DR # 526/528 Q4
Grand Summit Hotel
1 2 1201 $75,000 3/17/2014
21
11400763 CO 3000 CANYONS RESORT DR # 3614 Lodge at Westgate 2 2 1135 $615,000 3/27/2014
22
11400764 CO 3000 CANYONS RESORT DR # 3616 Lodge at Westgate 1 1 775 $389,000 3/27/2014
23
11400431 CO 2025 CANYONS RESORT DR # L-6 Red Pine 2 2 1080 $287,500 3/28/2014
24
11400333 SF 3459 CREEK CROSSING DR Aspen Creek Cross. 5 6 3868 $1,605,000 3/31/2014
25
9998279 CO 2025 CANYONS RESORT DR # D-2 Red Pine 1 1 650 $165,000 3/31/2014

CO=condo, FI= fractional, SF=single family, VL=vacant land

During the time frame for this quarter 1, 2014, compared to last year at the same time, Canyons Resort Area has experienced 25% more sales. Dollar volume shows last year sales at $10,349,500.00 and this year reported sales were $11,596,114, which is nearly $1.5 million more. Days on Market (DOM) has also dropped from a 185 days average for the units sold last year versus 147 days this year.

Sales are up, Prices are up, Days on Market are up. All signs that real estate is selling in the Canyons Area. The announcement of Vail Resorts taking over the resort operations as well as the golf course nearing completion, coupled with the dynamics of the economy have all been good for this area.

Contact me with any particular questions you may have.

Until next time,

Jeff

Jeff Lykes is on Google+