Houses for Sale in Park City UT
Park City is in a class all of its own. There is Utah real estate, and then there is Park City real estate. When home sales stats are made for the Wasatch front, they don't even include Park City. While the average house price in Utah is less than $200,000, the average house price in Park City is more than a million bucks, and many of these houses aren't even primary residences, they are second homes. Here are a few resources to help you find mls listings, properties listed for sale by owner, and foreclosure houses in Park City UT.
About Park City
Park City is part of the Wasatch Back and is located 40 minutes southeast of Salt Lake City. Originally a silver mining town, the city suffered when the mines were shut down but rebounded during the 1980s and 1990s. Park City has seen vast growth due to its tourism business and is now a tourist hot spot and resort town. In 2008, Park City was named as one of the 20 prettiest towns in the United States by Forbes Traveler Magazine.
As of the 2010 census, the population of Park City was 7,558. On average, the tourist population doubles the number of people in the city. The racial make-up is 71.8% White, 24.1% Hispanic, 2.0% Asian, and 2.1% other races. There are 2,885 households and 1,742 families living in the city. Of the households, 48.4% are married couples living together, 26.8% have children under the age of 18 living with them, and 39.6% are non-families. The estimated median household income for Park City is $76,769, well above the Utah average. Housing in the area has an estimated median value of $782,941 with a mean price of $798,094. As of March 2012, the cost of living index for Park City was close to the U.S. average of 100 at 98.2.
Because of Park City’s highly educated population, amazing schools, and variety of recreational opportunities, the economic future of the city looks bright as the city continues to be a draw for residents, tourists, and new businesses. Many outdoor-oriented businesses have their headquarters in Park City including backcountry.com, Rossignol USA, and Skullcandy. The city’s three main ski resorts Park City Mountain Resort, Deer Valley Resort, and Canyons Resort not only offer great skiing and snowboarding but are the largest employers in the area. Park City has its own school district and is home to four elementary schools, two middle schools, and one high school. There are also a number of private schools in the area for those so inclined. For medical needs, residents can receive help at Park City Medical Center or travel to nearby Heber City or Salt Lake City.
Park City is full of great activities all year round. In the winter, the ski resorts in the area provide great opportunities to experience the amazing snow and slopes. Renting a snowmobile and taking a tour is a great way to experience the great mountain scenery. The resorts are also fun in the summer with hiking trails, swimming pools, and alpine slide. Every January, Park City holds the Sundance Film Festival, a showcase for new work from international and American independent filmmakers. For a stress free day, spend some time at Align Spa or Aura Spa & Boutique. Park City is a great place to shop, having the largest collection of factory outlet stores in northern Utah. Be sure to walk down historic Main Street and get a famous caramel apple at Rocky Mountain Chocolate Factory!
Park City Utah Homes for Sale
One interesting thing about Park City, is that the majority of the properties listed for sale are condominiums and not single family houses. There are over 400 condos for sale and less than 300 single family houses. No other Utah area has this demographic makeup. The average price of houses on the market is almost 2 million, and even the average price of a condo is more than half a million, and many of these statistics are skewed by condos that have only partial ownership. Some of the smallest properties for sale in Utah are Park City condos. These include units that are more like hotel rooms with less than 400 square feet. Click this link to view the names of the different condominium complexes in Park City.
Time Shares and Partial Ownership Condominiums - Because many park city properties are second homes, time shares and partial ownership units are very common. Some of the complexes that include Time Share units include: Park Plaza, Westgate, Mountainside, Grand Summit, Prospector Square, Carriage House, and the Deer Valley Club.
Park City Foreclosures - Even in Park City, Utah's most expensive city, there are still foreclosures. Just because people buy incredibly expensive properties, doesn't mean they can afford them. If you're interested in real estate investing, Park City foreclosures, pre-foreclosures, short sales, hud homes, reo-bank homes, and Park City Trustee Sale Auctions click Park City Foreclosures, HUD, and REO Homes
Park City Houses for Rent - Many people interested in Park City Real Estate are looking for Rentals. Purcasing a house just isn't realistic. Park City has a variety of condos, houses, cabins, time shares, and resort properties that are available for rent. Rents aren't cheap but there are apartments, houses, condos and homes for rent in Park City.
Are Park City properties out of your price range?
Popular Park City Condo Complexes:
Black Bear Lodge - The Black Bear Lodge condos are a newer park city resort complex. They run in the high $800,000's to $1,000,000 and are close to America's #1 ski resort your destination. They are located near the Silver Lake Village, ski lifts, & 5 star restaurants. There is an onsite management company, common area pool & underground parking and make this a great rental. The monthly HOA fee is around $480.
Canyon Creek Condominiums - The Canyon Creek Condos are among the most affordable housing units in Summit County. They aren't big townhouses, but the 1 bedroom units can actually be purchased for less than $200,000.
Chatham Crossing Townhouses - The Chatham Crossing Town homes can be purhased for less than half a million. They were built in the 80's and have low HOA fees near $220 a month.
Grand Lodge - The condos at Grande Lodge are some of the most expensive luxury condos in Summit County. Nearly $4 million per unit, these new fully furnished units include Penthouse custom upgrades, extraordinary views and a full Talisker membership. The Grand Lodge Home Owners fee is more than the average Utah Mortgage Payment at $1522 a month.
Racquet Club - The Racquet Club are somewhat affordable units in the Canyon. Built in the 70's they have 2 bedroom units for less than half a million.
Three Kings Condos - The Three Kings condominiums were built in 1971. They have both one and two bedroom units for sale. A one bedroom three kings unit can be bought for about $500,000.