Kings Crown Park City Development Update

Kings Crown Park City is one of the most beautiful, and desirable areas in Park City. Highly accessible from many vantage points around Old Town and beyond, Kings Crown is now among the crown jewels in Utah real estate.

Kings Crown includes a unique opportunity to enjoy Old Town charm and history with all the modern amenities that make Park City one of the top resort destinations in the world. The development includes 27 single-family lots and 7 luxury Crownhomes, all of which are ready for reservations today. These are carefully designed to reflect the rich history of Park City’s mountain mining heritage.

Mountain to Main Street is the mantra for the community. Kings Crown offers a unique living space that will provide residents with a gateway to world-class skiing, biking, and hiking, as well as walking access to Park City’s iconic Main Street and its vast array of shopping and dining experiences.

The lots priced between $850,000 and $2.2 million. Those who purchase the single-family lots will have the opportunity to choose their own builders and follow the community CC&Rs. The single-family lots will accommodate builds starting at 1,875 square feet. There are currently only 8 left.

The ski-in/ski-out Crownhomes are available starting at the shell price of $3,666,124.80, with two interior finish scheme options and three different floor plans.

For more information on this development and the availablity, call Team Schlopy at 435.222.4858 or go to ParkCityKingsCrown.com.

Kings Crown Park City

Darth Vader’s Guide to Buying Park City Real Estate

We all know that Darth Vader dominated the Galactic Empire. Just like Darth Vader, we need to dominate the Park City Real Estate Market. Here is Darth Vader’s Guide to Buying Park City Real Estate.

1. I sense something. A presence I have not felt since… Feel the presence of the Neighborhoods.

If you really want to know the neighborhoods, there are only two things to look for; One is the Neighborhood Cycle and the other is Lifestyle.

Neighborhood Cycle
There are four stages in this cycle:Buying Park City Real Estate - Neighborhood Cycle
· Growth: A period during there are gains in public favor and acceptance. Demand increases.
· Stability: A period of equilibrium without marked gains or losses. No real obvious change.
· Decline: Period of diminishing demand and acceptance.
· Renewal: A period of rejuvenation and rebirth of market demand.
(Sacrament Appraisal Blog Four Stages, August 6th, 2012)

You will want to place yourself at the end of renewal and the beginning of the growth cycles. This is before the demand goes up as well as the prices. When homes are updating in certain neighborhoods it is often a great indication that this neighborhood is in the renewal stages. Keep your eyes on those neighborhoods… they will be the most sought-after homes.

Lifestyle.
You may have heard of living the “Park City Lifestyle.” This lifestyle is not a one size fits all, in fact, there are a plethora of choices. Each neighborhood, (believe it or not), fits certain lifestyles. For example, if you have children, there are certain neighborhoods suited for family living. If you are a retiree, there are quiet neighborhoods that will support your lifestyle. And for the socialites, there are areas with easy access to events and the nightlife. If you are outdoorsy, there is a place for you close to trails, ski-in/ski-out. If you are a… Ok, Ok, I will stop, you get it. Park City is unique with the small town atmosphere, that supports everyone’s lifestyle.

2. Don’t Fail me again, Admiral… I want this house.

Inventory is still low BUT we are finding new houses on the market that are in high demand. If you have found a house you want, and it has only been on the market for a short period of time, MAKE AN OFFER! The perfect house is like fresh meat among piranhas. There will be other offers, so make it a good one.

3. When I left you, I was but the learner. Now I am the master. Know your schools.

Schools in the Park City are excellent. Take notice of the school locations within the district. They may have an effect on where you will buy.

You will meet your destiny...of not having this home

4. If you will not fight, then you will meet your destiny… of not having this home.

Real Estate is give and take. When you are negotiating make sure you have your top five needs, repairs, or request written out. Work with the price and your top five. Since inventory is low, you will have to meet half-way with the sellers most of the time.

5. I am altering the deal. Pray that I don’t alter it any further. Walk Away.

I know, I said to meet half way above. But sometimes there are important things that you don’t want to compromise. If this is the case… WALK AWAY.

“Patience, Young Jedi.” Sometimes, that house will remain on the market and will come back around. Some sellers will even have the price lowered than what you negotiated.

In a seller’s market, often times sellers are set on the listing price. This due to their confidence in the market. However, during these times buyers take notice. We recently had an offer on the table for one of our listings. Seller came back too high. Buyer walked away.

6. We can rule this empire together.

With all that we have shared in this post, you will be able to rule the Park City Real Estate Market working with Team Schlopy. “May the Force be with you,” said Darth Vader, never.

Park City Real Estate Market Update December 2017

Welcome to the Park City Real Estate Market Update December 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor sellers over buyers, even as fewer houses become available compared to this time last year. December 2017 found an decrease in the number of active listings for single-family homes, according to information from Park City MLS.
Park City Real Estate Market Summary December 2017
The 37 new listings in December 2017 represented a 52 percent decrease over December 2016. Active listings decreased 7.4 percent to 425 over the same period. Actual sales of single-family homes increased over the same period. The Park City MLS reports that in December 2017, a total of 52 single homes were sold in the Park City area. This represents a 27 percent increase over sales in December 2016.

Prices in the Park City real estate market continued to fall during that year-long period. The median price of a single-family home in the Park City area increased 35 percent between December 2016 and December 2017, to $1,356,200. Average home prices fell 6 percent during that period to $1,839,947. The dollar volume of sales during the year decreased 2 percent. In total, $73,098,874 worth of homes were sold in December 2017.

Homes spent an average of 134 days on the market in Park City, which is a decrease from December 2016. Generally, high prices, limited availability, and slow sales of those homes that come up for sale make the Park City real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

Park City Real Estate Market Update November 2017

Welcome to the Park City Real Estate Market Update November 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor sellers over buyers, even as more houses become available compared to this time last year. November 2017 found an increase in the number of active listings for single-family homes, according to information from Park City MLS.

The 82 new listings in November 2017 represented a 52 percent increase over November 2016. Active listings decreased 7 percent to 445 over the same period. Actual sales of single-family homes also decreased over the same period. The Park City MLS reports that in November 2017, a total of 42 single homes were sold in the Park City area. This represents a 12.5 percent decrease over sales in November 2017.

Prices in the Park City real estate market began to fall during that year-long period. The median price of a single-family home in the Park City area increased 9.44 percent between November 2016 and November 2017, to $1,347,500. Average home prices fell 7.5 percent during that period to $1,582,464. The dollar volume of sales during the year decreased 18 percent. In total, $60,387,989 worth of homes were sold in November 2017.

Homes spent an average of 85 days on the market in Park City, which is a decrease from November 2016. Generally, high prices, limited availability, and quick sales of those homes that come up for sale make the Park City real estate market a favorable environment for sellers.

A year ago looking at single family homes in all of Park City there were 14 months of inventory. That’s what we call absorption rate. Today, there’s only nine months worth of inventory. So obviously very low inventory. Park City had record sales from 2011 to 2017. The month of February and May were record sales for single-family homes. This all leads to being a seller’s market and in the mind of the seller, they think that they can really overprice their home right now because of the lack of inventory. What’s happening is the buyers are pulling back and not going forward because they feel that the sellers are too aggressive in their pricing. It will be interesting to see what happens for the rest of the year.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

Heber Valley Real Estate Market Update July 2017

Heber Valley Market Update July 2017

Welcome to the Heber Valley Area Real Estate Market Update July 2017.

Heber Valley Area Overview

In the Heber Valley real estate market, conditions continue to favor sellers over buyers, even as fewer houses become available compared to this time last year. July 2017 found a decrease in the number of active listings for single-family homes, according to information from Park City MLS.

The 96 new listings in July 2017 represented a 12 percent increase over July 2016. Active listings decreased 6 percent to 258 over the same period. Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in July 2017, a total of 51 single homes were sold in the Heber Valley area. This represents a 24 percent increase over sales in July 2016.

Prices in the Heber Valley real estate market began to climb during that year-long period. The median price of a single-family home in the Heber Valley area increased 55 percent between July 2016 and July 2017, to $530,000. Average home prices rose 89 percent during that period to $852,124. The dollar volume of sales during the year increased 48 percent. In total, $22,713,800 worth of homes were sold in July 2017.

Homes spent an average of 83 days on the market in Heber Valley, which is an increase from July 2016. Generally, high prices, limited availability, and quick sales of those homes that come up for sale make the Heber Valley real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Heber City and surrounding communities. Contact us today for more information on Heber Valley real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

Park City Real Estate Market Update July 2017

Welcome to the Park City Real Estate Market Update July 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor sellers over buyers, even as fewer houses become available compared to this time last year. July 2017 found an increase in the number of active listings for single-family homes, according to information from Park City MLS.

The 161 new listings in July 2017 represented a 21 percent decrease over July 2016. Active listings decreased 2 percent to 492 over the same period. Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in July 2017, a total of 97 single homes were sold in the Park City area. This represents a 45 percent increase over sales in July 2016.

Prices in the Park City real estate market began to fall during that year-long period. The median price of a single-family home in the Park City area decreased 36 percent between July 2016 and July 2017, to $950,000. Average home prices fell 21 percent during that period to $1,368,370. The dollar volume of sales during the year increased 9 percent. In total, $85,285,182 worth of homes were sold in July 2017.

Homes spent an average of 85 days on the market in Park City, which is a decrease from July 2016. Generally, high prices, limited availability, and quick sales of those homes that come up for sale make the Park City real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

Heber Valley Real Estate Market Update June 2017

Heber Valley Real Estate Market Update June 2017 Header

Welcome to the Heber Valley Area Real Estate Market Update May 2017.

Heber Valley Area Overview

In the Heber Valley real estate market, conditions continue to favor buyers over sellers, even as more houses become available compared to this time last year. June 2017 found a decrease in the number of active listings for single-family homes, according to information from Park City MLS.Heber Valley Real Estate Market Summary

The 139 new listings in June 2017 represented a 48 percent increase over June 2016. Active listings decreased 8 percent to 253 over the same period. Actual sales of single-family homes also decreased over the same period. The Park City MLS reports that in June 2017, a total of 67 single homes were sold in the Heber Valley area. This represents a 6 percent decrease over sales in June 2016.

Prices in the Heber Valley real estate market began to fall during that year-long period. The median price of a single-family home in the Heber Valley area decreased 14 percent between June 2016 and June 2017, to $345,000. Average home prices fell 29 percent during that period to $580,289. The dollar volume of sales during the year increased 45 percent. In total, $22,221,800 worth of homes were sold in June 2017.

Homes spent an average of 64 days on the market in Heber Valley, which is a decrease from June 2016. Generally, low prices, limited availability, and slow sales of those homes that come up for sale make the Heber Valley real estate market a favorable environment for buyers and sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Heber City and surrounding communities. Contact us today for more information on Heber Valley real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

Park City Real Estate Market Update June 2017

Park City Real Estate Market Update June 2017

Welcome to the Park City Real Estate Market Update June 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor sellers over buyers, even as more houses become available compared to this time last year. June 2017 found an increase in the number of active listings for single-family homes, according to information from Park City MLS.Park City Market Summary

The 232 new listings in June 2017 represented a 3 percent decrease over June 2016 (239). Active listings increased 3 percent to 490 over the same period (476). Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in June 2017, a total of 95 single homes were sold in the Park City area. This represents a 14 percent increase over sales in June 2016.

Prices in the Park City real estate market continued to climb during that year-long period. The median price of a single-family home in the Park City area increased 17 percent between June 2016 and June 2017, to $1,075,000. Average home prices rose 25 percent during that period to $1,296,675. The dollar volume of sales during the year increased 22 percent. In total, $97,297,900 worth of homes were sold in June 2017.Park City Area Report June 2017 Sold and New Properties

Homes spent an average of 83 days on the market in Park City, which is a decrease from June 2016. Generally, high prices, limited availability, and quick sales of those homes that come up for sale make the Park City real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

If you have any questions please contact us at 435.640.5660. We will be happy to help.

5 Things Spock would say about Park City

Why Park City is the Logical Choice.

As frequent travelers, we are always looking for the perfect place. A place that has it all. We find close to perfection, but maybe it isn’t a place that we can call home. I am here to tell you that we have found a place that has it all. Even Spock would agree.

  1. Park City can be … Fascinating

  2. Spock spoke of fascinating in the sense of trying to understand the human spirit. Parkites do not just understand the human spirit, we embrace it.

    Friendliest City. Condé Nast Ravelers Readers ranked us as the friendliest city in the United States in 2015 and Second in 2016. The readers called it “a great place that brings city life to outdoor enthusiasts, film geeks, and families.” A “beautiful small town with a big presence,” it’s blessed with “hip culture, a party atmosphere, and tons of history.” Even at the height of winter ski season or the Sundance Film Festival in January, “the locals were extremely friendly and welcoming.”

    Charitable Organizations. I am including a link to a giving guide from Park City Community Foundation. You can view or download to see all of the foundations within Park City. If a small community like ours needs a guide to show all the non-profit organizations, we should be able to claim one day as the most giving community. But that is not why we do it. We do it because we care. We see a need, and we fill it.

    Culture Cure. Frank Borman once said, ”Exploration is really the essence of the human spirit.” Live music, art, theater, and literary events give us an opportunity to explore that human spirit. Egyptian Theatre, Sundance Film Festival, Music Festivals, and even some of the charitable foundations gives us a chance to embrace culture.

  3. Live Long and Prosper.

  4. I was reading an article from the Huffington Post “This is Why People Who Live in San Francisco Are So Happy and Healthy.” As I was reading this article, I went,”Wait, this sounds like Park City.” This is how Parkites stay true to Spock’s “Live Long and Prosper.”

    Wealthiest City in the United States. A suburb of Park City, Summit Park ranked as the wealthiest small city in the United States two years in a row.

    Outdoor activities are everywhere. We got the prosper thing down, how do we achieve the live long part? The Outdoor activities. Park City is known for the 9,000+ acres of skiable terrain (Deer Valley and Park City Resorts). There is more than snow in Park City.

    • Mountain Biking / Hiking
    • As the snow recedes from the mountains and valleys surrounding Park City, approximately 450+ miles of single-track trail emerges. The trails are open to hiking/trail-running, mountain biking, and equestrian trail users. Ranging in altitude from 6,500’ to nearly 10,000’, the trail system spans the whole environmental scale. In a single excursion, trail users can experience everything from high-desert covered in sagebrush, mountain mahogany and rabbit brush to the archetypal high-altitude alpine environment. So, grab a bike and hit the trails.

    • Golfing
    • The Park City Utah golf scene, and nearby Heber Valley officially joined the national golf boom leading up to and following the 2002 Winter Olympics. The highly publicized winter games brought a mass of attention to the once quiet in the summer time resort ski towns, located only 25 miles east of Salt Lake City International Airport. With Park City’s truly unbeatable location, combined with the worldwide exposure garnered from the Olympic games, it’s no wonder the biggest names in golf course architecture were called upon to build new layouts in Park City.

      Legends of the game, like Jack Nicklaus at Red Ledges, Pete Dye and Nicklaus at Promontory, Tom Fazio at Glenwild, Rees Jones at Victory Ranch, and Gene Bates at Soldier Hollow and the new Canyons Resort! Each world-class architect was offered great pieces of land to let loose their imaginations, and stamp their creative golf signature designs on and propel Park City into a mountain golf mecca.

    • Water Activities
    • I don’t think Park City has been mentioned much as a water recreation headquarter but I guess we can call it, “Utah’s Best Kept Secret.” We have three reservoirs, rivers and streams to fit your need for rafting, water skiing, fly fishing, tubing, boating, kayaking, standup paddle boarding, etc. We even have the only Floating Water Park in Utah on the Jordanelle.

  5. Captain, you almost make me believe in luck

  6. Easy Access. Park City’s close proximity to Salt Lake International Airport has always been an advantage over other western mountain resorts. Park City is an easy 35-minute Interstate drive from the Salt Lake City International Airport. Fly in and ski, golf or play the same day! Park City operates its own free intra-city transit system (with additional service to limited areas of Summit County northeast of town).
    About Park City Easy Access
    You can find it in Park City. Whatever you enjoy you can find it in Park City. The Life of the Party person will be able to throw parties at their place or use the plethora of venues available. The Outdoor Enthusiast will be able to enjoy the Year-Round recreation. The Introvert, the one who wants to get away from it all, will be able to enjoy the secluded areas in Park City from Hiking Trails to the right neighborhoods to be able to recharge.

  7. Obviously the Logical Choice

  8. In Park City, you are 35 minutes from Salt Lake International Airport, have 9,000+ acres of skiable terrain, can enjoy 450+ miles of bike/hike trails, close to 13 golf courses, in a Dog-friendly community…If you want I can continue. As you can see, Park City is the logical choice.

  9. Change is the Essential Process of All Existence

  10. Park City is always changing to improve what we already have. We have a city council, friends, neighbors that want to make sure these changes happen so that Park City will always progress to benefit those to call this home away from home.

Make it your logical choice and join us here in Park City.

Heber Valley Area Real Estate Market Update May 2017

Welcome to the Heber Valley Area Real Estate Market Update May 2017.

Heber Valley Area Overview

In the Heber Valley real estate market, conditions continue to favor both buyers and sellers, even as more houses become available compared to this time last year. May 2017 found a decrease in the number of active listings for single-family homes, according to information from Park City MLS.

The 90 new listings in May 2017 represented a 15 percent increase over May 2016. Active listings decreased 28 percent to 222 over the same period. Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in May 2017, a total of 42 single homes were sold in the Heber Valley area. This represents a 14 percent increase over sales in May 2016.

Prices in the Heber Valley real estate market continued to climb during that year-long period. The median price of a single-family home in the Heber Valley area increased 65 percent between May 2016 and May 2017, to $565,000. Average home prices rose 40 percent during that period to $687,681. The dollar volume of sales during the year increased 8 percent. In total, $20,434,325 worth of homes were sold in May 2017.

Homes spent an average of 134 days on the market in Heber Valley, which is an increase from May 2016. Generally, high prices, limited availability, and slow sales of those homes that come up for sale make the Heber Valley real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Heber City and surrounding communities. Contact us today for more information on Heber Valley real estate and for professional assistance navigating this sometimes complex home market.

Park City Real Estate Market Update May 2017

Welcome to the Park City Real Estate Market Update May 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor both buyers and sellers, even as fewer houses become available compared to this time last year. May 2017 found a decrease in the number of active listings for single-family homes, according to information from Park City MLS.

The 110 new listings in May 2017 represented a 5.77 percent increase over May 2016. Active listings decreased 3.23 percent to 420 over the same period. Actual sales of single-family homes also decreased over the same period. The Park City MLS reports that in May 2017, a total of 48 single homes were sold in the Park City area. This represents a 29 percent decrease in sales in May 2016.


Prices in the Park City real estate market continued to fall during that year-long period. The median price of a single-family home in the Park City area decreased 7 percent between May 2017 and May 2016, to $1,100,000. Average home prices fell 24 percent during that period to $1,625,014. The dollar volume of sales during the year decreased 54 percent. In total, $51,457,924 worth of homes were sold in May 2017.

Homes spent an average of 80 days on the market in Park City, which is an increase from May 2016. Generally, high prices, limited availability, and quick sales of those homes that come up for sale make the Park City real estate market a favorable environment for sellers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

A Park City 4th of July: An insider scope to the Best Celebrations

The 4th of July is just around the corner. What are your plans? Well, if you are in Park City, here is a list of things to do.

Park City 4th of July Parade and Celebration

This is a Celebration of all Celebration.

7:00 a.m.
Pancake Breakfast in City Park.

8:00 a.m.
Cole Sports 5k Mountain Fun Run
For pre-registration until 5pm on July 3:
Participants are encouraged to pre-register to avoid the crowd on race day and take advantage of the cheaper price. They can do so at colesport.com.

10:00 a.m. – 4:30 p.m.
Rugby games, live music, Rotary BBQ at the north end of City Park.

11:00 a.m.
Famous 4th of July Parade with over 70 floats celebrating Park City’s History

12:00 p.m. – 4:30 p.m.
Celebration in City Park
Food, Live Music, beer garden, games, and children’s activities

5:30 p.m. – 9:30 p.m.
Beer garden and BBQ at Park City Mountain Resort

7:00 p.m. – 9:30 p.m.
Free concert at Park City Mountain Resort

Dusk
Finally, fireworks are set to go off at Park City Mountain Resort at dusk!

81st Annual Oakley Rodeo

The 2017 Oakley Rodeo, happening June 30th, July 1st, 3rd and 4th in Oakley Utah. If you would like to purchase tickets go here.

Slip ’n Soar – Red, White and Fly!

Celebrate summer with an afternoon (or evening) full of slip ‘n slide on the water ramps at the Spence Eccles Olympic Freestyle Pool. Enjoy live music and all the slipping and sliding you can handle, plus food and cold beverages will be available for sale. Due to popular demand, we are offering three Slip ‘n Soar events this summer…including the chance to slip ‘n slide under the stars the evening of July 4th!

Heber Valley Real Estate Market Update April 2017

Heber Valley Real Estate Market April 2017

Welcome to the Heber Valley Area Real Estate Market Update April 2017.

Heber Valley Area Overview

In the Heber Valley real estate market, conditions continue to favor both buyers and sellers, even as fewer houses become available compared to this time last year. April 2017 found an decrease in the number of active listings for single-family homes, according to information from Park City MLS.

The 55 new listings in April 2017 represented a 5 percent decrease over April 2016. Active listings decreased 7 percent to 217 over the same period. Actual sales of single-family homes also decreased over the same period. The Park City MLS reports that in April 2017, a total of 19 single homes were sold in the Heber Valley area. This represents a 15 percent decrease over sales in April 2016.

Prices in the Heber Valley real estate market continued to climb during that year-long period. The median price of a single-family home in the Heber Valley area increased .3 percent between April 2016 and April 2017, to $430,750. Average home prices rose 8 percent during that period to $575,182.50. The dollar volume of sales during the year decreased 16 percent. In total, $13,173,392 worth of homes were sold in April 2017.

Homes spend an average of 88 days on the market in Heber Valley, which is a decrease from April 2016. Generally high prices, limited availability, and slow sales of those homes that come up for sale make the Heber Valley real estate market a favorable environment for buyers.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Heber City and surrounding communities. Contact us today for more information on Heber Valley real estate and for professional assistance navigating this sometimes complex home market.

We have provided Infographics for ease to view what is happening in the Park City Market.

read more…

Park City Real Estate Market Update April 2017

Welcome to the Park City Real Estate Market Update April 2017.

Park City Area Overview

In the Park City real estate market, conditions continue to favor both buyers and sellers, even as fewer houses become available compared to this time last year. April 2017 found an increase in the number of active listings for single-family homes, according to information from Park City MLS.

The 78 new listings in April 2017 represented an 11 percent increase over April 2016. Active listings increased 3 percent to 422 over the same period. Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in April 2017, a total of 50 single homes were sold in the Park City area. This represents an 11 percent increase over sales in April 2016.

Prices in the Park City real estate market continued to climb during that year-long period. Average home prices rose 3 percent during that period to $1,851,819. The dollar volume of sales during the year increased 7 percent. In total, $86,926,050 worth of homes were sold in April 2017.

Homes spend an average of 186 days on the market in Park City Area, which is an increase from April 2016. Generally, high prices, limited availability, and slow sales of those homes that come up for sale make the Park City real estate market a favorable environment for both.

Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.

We have provided Infographics for ease to view what is happening in the Park City Market.

read more…

Top 5 Home Design Trends of 2017 in Park City

The current trends are all about utilizing rich color, maximizing texture and creating comfortable interiors you can’t wait to relax in. Use these trends to get inspired to makeover your home’s interiors and create spaces you love that also appeal to your personal style. Remember, if you plan to sell in the next few years, you may want to avoid doing anything dramatic and instead incorporate small changes that would appeal to buyers.

Why are these trends gaining popularity?
The underlying theme of these trends is creating a home environment you love; one that appeals to your emotions and feels like a retreat from the stresses of the world. Although the home is a place where you can relax and spend time with loved ones, work expectations are beginning to blur the line between work and home. Even if people don’t work from home specifically, many are stretching their work hours into their evenings and weekends to complete work projects.

It’s no wonder the Nordic concept of hygge (most often pronounced “hoo-gah”) has become a hot trend. A centuries-old concept, incorporating hygge in the home means creating simple and comfortable spaces that make you feel cozy and safe and appeal to your senses.1 The emphasis is on simplicity and fostering positive experiences, whether you’re spending time with family, reading a good book or catching up on work emails.

WARM AND RICH COLORS.
Whether you want to play with a bold color or stick with neutrals, one thing is clear—paint is the foundation of a great design. Painting your interiors has a return on investment of about 75 percent and is a relatively inexpensive project to complete, costing between $25 to $100 for paint alone.2 If you’re thinking of refreshing your home’s interiors with a coat of paint, popular colors include warm taupe, fresh green, and dark tones. These colors are popular choices because they evoke feelings of warmth and coziness when you walk into a room.

Wondering how to pair these colors? Taupe is the perfect alternative to traditional neutrals, such as gray and white, and goes well with cool blues, earthy greens and deep shades of wine.  Green goes well with other earthy shades, such as copper and moss, as well as deep plum and bright pink. If you’re hesitant to paint your walls green, incorporate it into your home by way of accent pillows, rugs, lamps, vases and other accessories or add a few house plants.  

If you’re interested in adding more drama to a room, include bold, dark colors.  Dark shades add color and sophistication to any space. Plum and dark gray pair well with pale blues, warm whites, and light gray.

Try one of these Colors of the Year:

  • Poised Taupe – Sherwin Williams
  • Greenery – Pantone
  • Shadow – Benjamin Moore

 RICH MATERIALS.
Lux materials create a space in which you can’t wait to kick off your shoes and relax at the end of the day. The Danes use a mixture of materials and pattern as a way of adding character and interest; however the overall look still needs to adhere to a color palette to prevent it from looking distracting.

Natural materials and textures allow you to maximize the comfort of the bedroom, living room or family room. Wood accents give rooms an earthy feel. Incorporate rustic wood sculptures, trays and furniture into your space. Choose furniture made with sustainably harvested wood certified by the Forest Stewardship Council (FSC) or use reclaimed wood for an environmentally friendly alternative.

If natural elements aren’t your style, but you want to add more visual interest to your room, try mixing patterns. Although it may have been avoided in the past, mixing stripes, florals and geometric prints actually help ground a space as long as the patterns feature complimentary colors or different shades of one color. If you’re worried about going overboard and making your room look “busy,” focus your mix in one area of the room. For example, add throw pillows in a variety of patterns to your sofa.

GOING GREEN.
According to a recent study from the American Psychological Association, people are more stressed than ever, with 24 percent of adults reporting they’re experiencing “extreme stress.”3

Top sources of stress include work and money. By incorporating small changes, like making your house more energy efficient, you can start to lower your bills and get back to relaxing and enjoying life like the Danish do (who consistently top the polls as the happiest people).

Save money on your energy bills by sealing the “envelope” of your home, which includes the windows and doors, walls, floor, and roof. The better insulated your home is, the less heat will escape and the lower your energy bill (and stress level) will be.

The most heat loss occurs through the walls of the home: up to 35 percent of heat loss, to be exact.4 Ceramic insulating paint is a space-inspired coating of paint mixed with ceramic compounds and applied to the interior or exterior surfaces. It seals your walls and prevents heat from escaping, which means reduced energy bills all year long.

THE FUNCTIONAL HOME OFFICE.
Twenty-four percent of employed people do some or all of their work at home.5 Since more people are working remotely than ever, home offices are becoming more popular. Even if you don’t plan on working from home, a home office gives you a place to pay bills, work on personal projects, plan your family’s schedule and more. Home offices tend to be multifunctional, serving as a guest room when family and friends visit and have the potential to meet other needs that arise.

The key idea behind hygge is to enjoy the environment around you and for each room to be a sanctuary to sink into at any given moment. Your home office is no exception! Maximize your productivity, efficiency and focus by painting the walls shades of green or blue.6 If space is an issue, create a nook by installing docking and tech cabinets that are big enough to store a printer and other small office equipment and files without taking over the room.

If you don’t have room in your home for an office, look no further than your backyard. Shedquarters, small structures or sheds built in the backyard for use as an office or home-based business, are an attractive option for homeowners who don’t have a room to dedicate to an office and don’t wish to add to their homes. while the jury is out on how much value these structures add to a home, they can convert easily into a storage shed if you plan to sell in the future.

SPLURGING ON KITCHEN RENOVATIONS.
The kitchen is often the busiest, most hectic room in the house and one of the top renovation projects with a high return on investment.7 We do more than cook meals there; it’s where homework is done, bills are paid, weeks are planned and more.

Kitchen remodels consistently show a respectable return on investment. According to the 2017 Cost vs Value Report from Remodeling magazine, a minor kitchen remodel touts an 80.2 percent return on investment.8 You don’t need to overhaul your entire kitchen to make it more hygge. Smaller additions can transform it into a relaxing and functional space you enjoy spending time with friends and family in.

What does a “minor kitchen renovation” entail? In addition to replacing the fronts of your cabinets and drawers, it also includes replacing out-of-date appliances and fixtures. You may also consider replacing countertops. Quartz and quartzite are becoming more common as are other green laminate options, including ones that mimic stone, wood, and concrete. Laminates install in less time, often over the existing countertop, make it an ideal choice for busy homeowners as well. Other hot kitchen trends include incorporating sustainable materials like bamboo into your countertops and floors and water filtration systems.

Want to improve the look and feel of your home’s interior? Are you thinking of upgrading to a home that better fits your changing needs? Call us—we’d love to help you achieve all of your home-related dreams.

Have Questions?

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435.640.5660