What is the Best Month to Buy Homes in Park City?

This chart shows the number of active single family listings vs. the number of sales.

Best Time to BuySource: Park City Multiple Listing Service.  Note, this chart was printed on 11/14/15 and does not reflect a 30-day month.

A picture is worth a 1,000 words. The fewest sales related to available inventory occur in the month of November.  Park City’s “shoulder season” has been getting shorter and shorter as we become more of a year round community.  The chart shows that the market did not slow down at all during the spring shoulder season. However, if you are looking to invest in the Park City real estate market, now is the perfect time.  As a buyer, you will have the least amount of competition with other buyers, while enjoying a healthy inventory with plenty of homes to choose from.  Search all Park City homes for sale here and give me a call to answer any questions you may have about available homes.

Up and Coming Wasatch County Real Estate!

Summit vs. Wasatch County Real Estate

Summit vs Wasatch

I just received the September, 2015 data from the Utah Association of Realtors.

Look what’s happening in Wasatch County! There were 77% more listings in September, 2015 than the prior year. Wasatch County is hot! Some Wasatch County neighborhoods that are extremely popular are Red Ledges, Black Rock Ridge, The Retreat at Jordanelle and new projects like Village at the Shores, which is located in the Jordanelle State Park and Marina area. These are all great neighborhoods and are attracting buyers who want a lower priced, newer home away from tourists. I’ve sold several properties this year in Wasatch County. It is most definitely an up and coming area. Check out the stats below and feel free to call me if you are interested in any of these newer properties.

Summit County Year to Date

2014 2015 +/-
New Listings 2,103 2,460 +17.0%
Pending Sales 1,269 1,514 +19.3%
Closed Sales 1,122 1,376 +22.6%
Median Sale Price $535,000 $574,000 +7.3%
Average Sale Price $866,516 $919,699 +6.1%
Days on Market 107 85 -20.6%

Wasatch County Year to Date

2014 2015 +/-
New Listings 1,071 1,163 +8.6%
Pending Sales 620 739 +19.2%
Closed Sales 556 562 +1.1%
Median Sale Price $315,000 350,000 +11.3%
Average Sale Price $410,457 480,930 +17.2%
Days on Market 112 112 0.0%


Modern Home Style in the Mountains

Many homebuyers love the new “Mountain Modern” style, but there are very few such homes available in Park City. This is due to the lack of financing for residential land and construction during the downturn, leaving our town with little in the way of new housing inventory. The good news is that the Mountain Modern style look can be achieved with a remodel if your home or condo has the right infrastructure or bones.

4890 Enclave Way Unit 22 Park-small-016-13-4890EnclaveWay016-666x445-72dpiThe Parkite

Here are some elements of the Mountain Modern style:

  • Walls of floor to ceiling windows and an open floor plan
  • Indoor/outdoor living where the exterior doors fold back to open a wall to the exterior
  • Luxury kitchen appliances
  • Glass subway tile or small rectangular glass backsplash tile
  • Butler’s pantry
  • Stacked stone, tile or other solid surfaces for fireplaces
  • Horizontal fireplace box
  • Quartz, silestone and other solid surface countertops in neutral tones
  • Walnut cabinets
  • Wood floors using walnut or bleached oak
  • Master bath with a “zen” feeling with clean lines, natural materials and windows
  • Freestanding soaking tubs
  • Glass/frameless shower
  • “Smart homes” where heat, lighting, fireplaces and A/V can be controlled through an ipad
  • Installed camera surveillance
  • A natural color palette of neutral colors and white or grey walls

What do you think should be added to this list to achieve the Mountain Modern style home? What do you think of the Mountain Modern look? Check out some photos of Mountain Modern designs from houzz.com here:  http://www.houzz.com/mountain-modern and please feel free to share your likes and dislikes.

Thinking of Purchasing New Property? What are Your Real Estate Goals?

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My fitness goals are strength, speed, endurance, and mobility. With these goals in mind, I have created an exercise routine that includes CrossFit, gentle yoga, and extra recovery time. I was thinking about goals as they relate to my real estate clients. If clients are not sure what they are looking for, it is more difficult for me to find what they want.

The main criteria for these goals are that they are realistic relative to the current inventory and the clients’ budget. Here are some examples of real estate goals of recent clients:

  • I want to buy a condominium located in an area with amenities that I can rent out when I am not there. I’m looking to spend no more than $500,000.
  • I want to buy a home that is large enough for my 3 grown kids and their friends to spend time with us during the holidays, ski season and the summer. I am looking to spend $1.5-$2 million and I want to be in Park City proper.
  • I want to buy an investment condo in an area most likely to appreciate that will rent like crazy and generate cash flow.

When clients don’t know exactly what they want, helping them figure out their specific goals is an enjoyable process for me. I utilize my expertise of Park City’s housing inventory to help my clients quickly narrow their search and I make the very best use of their valuable time. When we are out looking at properties, I pay careful attention to what my clients say as well as their non-verbal language. This requires intense focus and concentration on my part. Sometimes my clients are surprised when the property they fall in love with is different from what they initially envisioned.

Whether or not we start with specific goals, we always end with them. Nothing beats the satisfaction I feel when I match my clients with that perfect property and I negotiate the best deal possible for them. It is my passion for this process that energizes me when I begin a relationship with a new client. This process also creates a special bond between my clients and me.

Do you know anyone who is thinking about investing in the Park City real estate market?   Maybe you know someone who is moving up or downsizing? Most of my business is from people I already know and I appreciate all of your referrals. As a goal oriented person, I love helping people reach their goals.

Park City Real Estate Update – Fall 2015

Park City 3rd Quarter Real Estate Statistics

Beth Armstrong Fall Photo

I spent time this afternoon with Park City’s top real estate agents discussing the Park City Board of Realtor’s statistics for the third quarter of 2015. There are subtle shifts taking place in our market. None of us could predict if these are the start of new trends or just statistical blips. We will be keeping our eyes on all of these trends to see where we wind up at the close of the year.

  • The most affordable markets in Park City, condominiums in Prospector and Kimball Junction, experienced a huge surge in sales. Prospector sales increased by 146% while Kimball Junction sales increased 77%. While appreciation was just 4% in Prospector, the median sale price for condos in Kimball Junction increased by 58%. Many of these sales are attributed to Newpark Terrace, which was recently completed. Sidenote—I love Newpark Terrace. There are just a few left. Let me know if you are interested in these darling 2-bedroom condos with mountain views and walking distance to everything in Newpark.
  • Old Town condominiums continue to sell at a rapid pace of almost 12 per month. Median sale price is up 21%.
  • The Snyderville Basin had twice as many single family sales and appreciated almost 3 times more than Park City limits. The median sale price of single family homes in 84098 (Snyderville Basin) increased 20%, while the median sale price of single family homes in 84060 (Park City Proper) increased by 7%. There were 180 homes sold in 84060 and 350 sold in 84098.
  • The Silver Springs neighborhood median sale price increased by 25%. Our realtor group predicted that appreciation would slow down in that neighborhood.
  • Condominiums in the Jordanelle area continue to sell as fast as they can be built. Sales increased by 7% while median sale price was up about 9%.

All of us realtors are curious to see the so called “Vail effect” on prices and demand. We know Vail Resorts is sure to drive lots of new people to our town. Will those tourists fall in love with Park City and want to invest here? Will they drive property prices up? Stay tuned to my blog and I’ll post winter sales statistics just as soon as the snow flies!

If you are curious about the sales in your neighborhood, just drop me a note and I’ll send you the statistics.

How Virtual Assistants are Boosting Agents’ Profits –

And Why I Won’t be Using One

Virtual Assistant

I just read an article on Inman.com by Teke Wiggin posted 9/28/15. In this article, the author discusses how some real estate agents have utilized virtual agents from the Phiippines and other countries, to leverage and grow their business.

These assistants work on “anything that does not require a conversation with the client or with the cooperating agent.” This could include tasks such as filtering emails, confirming appointments and completing paperwork. Where this gets a little dicey is when agents employ these virtual assistants to qualify online leads and prospective clients. Some virtual assistants also take on tasks such as cold calling on expired listings or for-sale-by owners.

All REALTORS are independent contractors and can run their business according to any model they choose. Some agents choose the “quantity over quality” approach by casting a huge net for prospective clients, then using a virtual assistant to edit the hundreds of leads into 3 legitimate potential clients, who are ready, willing and able to transact.

How Virtual Assistants are Effecting the Real Estate Industry

What concerns me about this approach is the commoditization of the real estate profession. We are already seeing this approach with Zillow, realtor.com and other online sites. When the user contacts the agent on the website, they expect to speak with the listing agent or a qualified assistant who understands the local market and who can provide quality information. They do not expect to receive a response from a person in a foreign country, who, no matter how well trained, cannot possibly provide valuable information or insights.

Yes, I receive a lot of bogus contacts from the internet. Someone called me at 10:30 the other night asking for information about one of my listings. I returned the call the next morning, sent an email and did not receive a response. While it can be annoying to sift through these leads, I feel that I am doing my job on behalf of the owner who hired me to respond to such calls directly.

I still remember years ago, when I called customer service for my PC. I spoke to a person in a foreign country who could not deviate from a script to help me. I never purchased a computer from that company again, and today that company has almost disappeared. Let’s not go down that road as REALTORS. Let’s provide the excellent service that our clients expect and deserve and leave the foreign virtual assistants to the big box industry.

By the way, I am not aware of any Park City agents who are using international virtual agents as part of their business model.

Is Park City the Right Place for You?

Park City May May Not Be Right For You If…

(Apologies to Jeff Foxworthy)


I’ve recently received calls from prospective buyers who live outside of Utah and were downright angry with me that I could not magically produce a property that met their needs. It got me thinking. As perfect a place as I like to think Park City is, it may not be right for you if….

  • You have a budget of $350,000 and want a single family home in the Park City School District.
  • You are looking for a single family home in a residential neighborhood that you can rent on VRBO.
  • You have 20% to put down on a vacation rental property and expect the rental income to cover your loan payments, taxes & insurance.
  • You want to buy a bank owned, short sale or otherwise “distressed” property below retail.
  • You saw some properties listed for sale in 2009 and were hoping the prices had not gone up too much in the last 6 years.
  • You want to spend less than $300,000 for a 2-bedroom condominium in Park City that has been updated and is near skiing.

With a median single family price of $1.5 million in Park City proper and $935,000 in the basin, the days of $350,000 homes are over. The good news is that there are properties available within these guidelines that are 10-20 miles from Park City proper, which are growing in value. 

There are some great opportunities in Park City for those who are willing to be realistic and work within the parameters of our markets. Some condominiums in Park City generate stellar rental income to make long-term rental properties work. While prices are up, in many areas they are still below their peak. I can show you the best that Park City and the surrounding areas have to offer. It’s not too late to get into our real estate market as I am happy to provide information on real estate options that are right for you.


Current Park City Home and Condo Inventory

Current Park City Home & Condo Inventory: Which Neighborhoods are Buyers’ or Sellers’ Markets? by  September 15, 2015

I took a look back at the last six months and checked sales and inventory in some of Park City’s most popular neighborhoods. Are you thinking of selling a property? Check to see which areas are sellers’ markets. Thinking of buying? There are still some buyers’ markets. It was interesting to note how much of our market is neither a buyers’ nor sellers’ market, but is balanced with approximately 6 months of inventory.

Park City Home & Condo Inventory by Area

Lower Deer Valley Condominiums. There are currently 28 units on the market, which might seem like a lot, except 31 closed in the past 6 months and 8 are pending sale. That means there is a 4.3 month inventory of Lower Deer Valley condos, making it a sellers’ market. View all condos in Lower Deer Valley.

Lower Deer Valley Homes. There are currently 10 homes on the market, but only 3 closed in the past 6 months with 3 pending sale. This means there is a 10 month inventory of homes in Lower Deer Valley, making it a buyers’ market. View all homes in Lower Deer Valley.
Park Meadows Real Estate
Park Meadow Homes.Thirty-one homes are active, but 25 homes closed in the past 6 months and 4 are currently pending. This means there is a 5.8 month inventory, making it abalanced market. It is interesting to note the disparity between median sold price ($1,356,000) and median list price ($1,599,000). Perhaps sellers have become too aggressive on their pricing changing Park Meadows from a buyers’ market earlier in the year to a balanced market.View all homes in Park Meadows.

Jeremy Ranch Real EstateJeremy Ranch Homes.There are 34 homes on the market, but 26 closed in the past 6 months and 5 are pending. This neighborhood has a 6.5 month inventory, making it a balanced market.View all homes in Jeremy Ranch.

Silver Springs Homes. There are currently 11 homes on the market with 5 closed in the past 6 months and 9 pending sale. This neighborhood has been one of the hottest in Park City all year long. Currently there is a 4.8 month inventory, giving buyers one of the best opportunities in this neighborhood in months; nevertheless, this neighborhood is still a sellers’ market.View all homes in Silver Springs.

Kimball Junction Homes. These homes are all located in the Blackhawk Station neighborhood. Median list price is $524,900 and median sale price is $525,000. Only 2 homes are on the market, with 5 closed in the last 6 months and 2 pending. This neighborhood is a total sellers’ market with only 2 months of inventory! View all homes in Kimball Junction.

Old Town Real EstateOld Town Condominiums.With 56 active condominiums on the market, you would think buyers could have their way. Not the case, with 51 closed condos in the past 6 months and 29 currently pending! Old Town condos have a 4.21 month inventory making this neighborhood a sellers’ market. View all condos in Old Town.

Old Town Homes. There are 36 homes on the market, with 21 closed in the past 6 months and 15 pending. Old Town homes are a balanced market with a 6 month inventory. It is interesting to note that of the 36 homes currently listed for sale in Old Town, only 4 are priced under $1 million. View all homes in Old Town.

If I listed every neighborhood, this blog would be much too long. If you are curious about a neighborhood, please contact me and I’ll be happy to give you an update.

When was the last time you did some home purging?

If that time is coming, here are some tips on how to declutter your home:

Do You Really Need All of That Stuff?


I am invited to a home because the owners have decided it’s time to sell. They apologize. They know their home is full of things that they no longer use, need or want, but they don’t even know where to begin the process of sorting through their items and deciding what to take, what to sell, and what to toss. We can’t begin to market the home until potential buyers can see the actual home versus the owners’ “stuff”. The process of decluttering your home can be so overwhelming that it prevents the owners from moving, leaving them physically and emotionally stuck. It’s easy when you live in a large home for a number of years to accumulate things, and most people in Park City live in large homes.

My advice is to deal with the clutter BEFORE you are ready to move. I can refer you to some talented professionals who can assist if you feel the project is too monumental to take on by yourself. Sometimes, it’s hard to be objective about your own items. Most of the time, there is an emotional connection to our things, and making the decision on what to purge can be emotionally exhausting.

The Japanese Art of Decluttering and Organizing

I recommend the book, “The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing” by Marie Kondo. In a nutshell, Kondo recommends you look at each item and decide whether it brings you joy. If it does, you keep it. If it doesn’t, you sell, donate or toss it. If you are getting ready to downsize and need to get rid of some valuable items, consider hiring a professional estate sale liquidator. The liquidator will cull through the items you no longer need and make the decision on what has value and what should be tossed. The estate liquidator will organize, display, and market the estate sale. I have had clients who had great success with estate sales. Below is a photo of my kitchen cabinet after my last decluttering purge 6 months ago. I’m not planning on selling my home; however, I enjoy the ease of seeing where everything is. I don’t have to search to find the dish I am looking for. It is also quite easy to maintain.


I hope I have inspired you to tackle your clutter before you are ready to move. It takes time, but the results are worth it. And please give us a call when you’re ready. We can help you make a stress free transition to your new, clutter-free home.


Where do you think Park City home owners live full time?

5470 N Luge Ln T52 Park City-small-001-1-5470NLugeLnT5201-666x442-72dpi

Reporter Patrick Cone interviewed me for the Park Record newspaper last week and posed this question: “Where do Park City real estate owners live full time?”. I contacted Summit County Treasurer, Corrie Forsling to obtain the answer.

Why is it interesting and why is it important?

The marketing of properties must be targeted to the location of potential buyers. All of my listings are posted on both the Park City Multiple Listing Service (MLS) and the Wasatch Front MLS, which covers about 95% of Utah. My internet and social media marketing are also targeted to the locations where clients are most likely to come from.

Summit County Property Owners by State

Utah 28,026 73%
California 3,082 8%
Texas 957 2%
Florida 923 2%
New York 743 2%
Arizona 622 2%
Illinois 407 1%
Nevada 334 1%
New Jersey 237 1%
Maryland 213 1%
Colorado 208 1%
Pennsylvania 205 1%
Virginia 200 93%

I have put 23 properties under contract since January. Here is the where my personal clients live full time.

My Client Breakout

Utah 10 43%
California 3 13%
Texas 4 17%
Florida 2 9%
Minnesota 2 9%
Colorado 1 4%
Arizona 1 4%
Total 23 100%

Comparing my numbers to Summit County makes me wonder if we can expect the primary residence location of Summit County property owners to shift over the next few years. It will be interesting to watch.