Building in Park City, Utah: Real Estate Information, Newly-Built Homes, and Lots for Sale
Building a home in Park City, Utah, can be daunting, but with the right information and resources, it can also be a rewarding experience. As your trusted Park City Realtor, the Carlson Real Estate Team is here to provide the guidance you need to make informed decisions and turn your dream of owning a home in Park City into a reality.
The costs involved are among the first things to consider when building a home in Park City. Having a realistic budget and working with a reputable builder who can help you stay within that budget is important. The Carlson Real Estate Team has years of experience working with builders, architects, and designers in the area. As a result, we can provide valuable insights into the costs of building a home in Park City.
Another important factor to consider is the real estate market in Park City. With a strong and growing economy, Park City has become an increasingly popular place to live, work, and play. This means that the real estate market in the area can be competitive, but with the help of the Carlson Real Estate Team, you can navigate the market and find the perfect lot or newly built home that meets your needs.
Many great options are available in Park City regarding lots and newly built homes. Whether you're looking for a ski-in-ski-out lot on one of the area's ski resorts, a secluded mountain retreat, or a luxurious home in one of the golfing communities, the Carlson Real Estate Team can help you find exactly what you're looking for in a property.
We'll also discuss some of the top areas for building a home in Park City, such as the golf communities of Park City and areas like Tuhaye and Red Ledges, which offer a similar lifestyle to Park City but are outside the city limits. For those seeking ski-in-ski-out properties, we'll explore the available lots for sale on the ski resorts in Park City, where you can enjoy unparalleled access to world-class skiing and snowboarding.
Furthermore, we'll dive into the Jordanelle real estate market, an area poised for significant growth in the next two decades, thanks to the development around the reservoir and the new Mayflower Development. We'll also discuss The Colony, an exclusive gated community in the Canyons area that offers exceptional ski-in-ski-out access, privacy, and breathtaking mountain views. It is a popular choice for those looking to build their dream home.
Building a home is a significant investment, and having the right information and resources to make informed decisions is important. Whether you're a first-time home builder or an experienced developer, this article will provide valuable insights and tips to help you navigate building a home in the Park City area.
Homebuilding in Park City, Utah
Building a new home in Park City, Utah, presents opportunities and challenges in the current real estate market. The demand for new construction remains strong, and the area's population continues to grow, creating a need for more housing options. However, the cost of building a custom home has risen due to the increasing prices of materials and labor, and there is a limited supply of high-quality land for sale.
Despite these challenges, the market for newly built homes in Park City and the surrounding areas continues to thrive. If building a custom home is on your agenda, it's crucial to work with an experienced and knowledgeable real estate agent and builder who can help you navigate the unique factors that can impact your construction project.
Alternatively, if building a home isn't within your current timeframe, many newly built properties are for sale in Park City that offer the latest amenities and modern designs. Contact me for more information on building a new home or explore the available properties for sale in the area.
The Cost of Building a Custom Home in Park City, Utah
So, what does it cost to build a home in Park City, Utah?
As of May 2023, you can expect the cost to build in Park City to start around $550 per square foot - that does not include the price of the land or landscaping. For the "Park City" style of finishes, plan for $625/sq and a luxury level of finishes at $750+/sq ft.
You can run over the $1,300 per square foot for ultra-luxury with exotic materials—Park City luxury homes on the MLS start to sell at around $1,200+/sq ft.
While labor costs started to adjust in 2023, other items like windows have seen price increases fueled by inflation. So my question of the day is; with inflation pushing prices of everything up and interest rates trying to push prices down, how much will the Park City real estate market be affected?
Thinking of Building a Home in Park City?
If you're considering building and looking for land for sale in Park City, you'll want to View Vacant Land for Sale in Park City. The pricing of lots will depend on views, location, ski access, supply, demand, etc. Unfortunately, quality parcels closer to the ski resorts and around the Park City limits are becoming harder and harder to find.
When considering building a home in Park City within the next few years, I'd start looking now to watch for a great lot. I've had several clients choose to renovate properties or existing construction because of the location, views, and ease of buying something already built.
Every area in Park City has pluses and minuses when building a home. For example, would like to build a home in Old Town, you'll essentially be shutting off a section of the street and may have to hire additional flaggers. On the other hand, when building in Promontory, the excavation dirt typically needs to be removed from the site. These are two examples of why you want to work with an experienced builder and realtor that understand the nuances of land.
Cost of Remodeling a Park City Home or Condo?
Are you looking to remodel a home or condo in Park City, Utah? The remodel costs around $125 per square foot and can run up to $350+ per square foot for exotic finishes. So if you want to achieve a "Park City" style of finishes, plan to spend around $250 per square foot.
However, it's important to note that remodeling costs can vary depending on the size and complexity of the project. For example, one recent client in Deer Valley found himself over budget on his remodel project, running closer to $200 per square foot due to a new kitchen, bathrooms, and other updates. Therefore, working with an experienced contractor who can provide accurate estimates and guide you through remodeling is always wise.
Popular Areas to Build a Home in Park City, Utah
If you're considering building a home in the Park City area, there are vacant for sale in Park City. Over the past few years, many buyers have chosen to build in the golfing communities of Park City to enjoy the highly luxurious amenities. For those nongolfers, the ski-in-ski-out lots for sale on the ski resorts in Park City have been popular.
If you're looking for a newly built home in Park City, several areas stand out for their selection of new construction properties. Of course, the most popular areas for new construction are the golf communities of Park City, including Promontory, Tuhaye, and Red Ledges. These neighborhoods offer a luxurious lifestyle and stunning mountain views, with ample opportunities for outdoor recreation like golfing, hiking, and skiing.
If you're looking for a newly built condo, The Canyons Village is the place to be. This popular ski resort area offers a wide selection of newly built condos, many of which offer ski-in-ski-out access to some great skiing. With its convenient location near Park City's historic Main Street and many other attractions, The Canyons is a great choice for those looking for a lively and convenient lifestyle.
If you want to build your dream home from scratch, The Colony is a great choice. This exclusive gated community offers a selection of parcels of land to build on, each with unique character and features. With stunning mountain views, access to world-class skiing, and ample opportunities for outdoor recreation, The Colony is a great choice for those looking to build a custom home in one of Park City's most desirable neighborhoods.
Looking to the future, Jordanelle is an area that's poised for growth and development over the next twenty years. With its access to skiing via the Jordanelle Express Gondola and the new Mayflower Development, this area is becoming increasingly popular among those looking for a more secluded mountain lifestyle. As the area continues to develop around the reservoir, we expect to see even more growth and new construction in the coming years.
In conclusion, whether you're looking for a newly built home in a golf community, a newly built condo near the slopes, or a parcel of land to build on, there are plenty of great options to choose from in Park City. With its stunning mountain views, world-class skiing, and endless opportunities for outdoor recreation, it's no wonder that Park City is such a popular destination for those looking to buy a newly built property.
The Carlson Real Estate Team: Your Top Choice for New Construction
If you're considering building a new home, it's important to have a team of professionals who can guide you through the process from start to finish. The Carlson Real Estate Team is the perfect choice for those looking to build their dream home in the Park City area. With years of experience selling land and working with builders, architects, and designers, the Carlson team has the knowledge and connections to bring your vision to life.
One of the key benefits of working with the Carlson team is their expertise in land sales. Whether looking for a specific neighborhood or a secluded mountain retreat, they can help you find the perfect land to build on. With a deep understanding of the local market and extensive knowledge of zoning and building regulations, the team can help you navigate the complexities of land acquisition and find a property that meets your needs and budget.
Once we've found the right piece of land, the Carlson team can connect you with builders, architects, and designers who can help bring your vision to life. In addition, the team has developed relationships with some of the top professionals in the area, so you can trust that you'll be working with experienced and talented individuals who share your commitment to quality and craftsmanship. So whether you're looking for a rustic mountain cabin or a sleek modern home, the Carlson team can help you find the right team of professionals to bring your dream home to life.
In conclusion, if you're looking to build a new home in Park City, the Carlson Real Estate Team is the top choice for expert guidance and exceptional service. With years of experience selling land and connecting clients with top builders, architects, and designers, the Carlson team has the knowledge and connections you need to make your dream home a reality. Contact them today to learn more about how they can help you build the home of your dreams.
Why Working with a Realtor is Important When Building a Home
Recent Story #1: I'd like to tell you a few stories about how I add value. I'm sending emails back and forth to a client while updating this blog post. I'll call them a client because I'll list their home for sale and help keep their deal together on building a new home.
True Story - last week, an agent in California contacted me: "My brother is building a home in Park City, and they need your help." The agent's brother - let's call him Todd, and his wife Teresa (names changed to protect the innocent) went directly to the builder in a new subdivision and made a reservation on a parcel of land. The builder is to build their dream home after the property is platted.
Since Todd and Teresa started looking at the property, the developer/builder has been able to re-plat the land into smaller phases. As the next phase is introduced, prices increase - that's common around Park City. Todd and Teresa didn't' expect the price to go up and still have no idea what the price increase will be when the time comes.
Teresa has emailed the developer's agent, asking questions but not getting any real answers. So instead, the developer continues to kick the can down the road by saying we'll know as soon as the parcel is recorded, which should be quickly recorded.
Like most clients, Todd and Teresa pay attention to the market, research the development, builder, and everything else, including keeping tabs on the city council meetings. They know that this phase isn't even on the agenda yet. So when they ask the developer for more details, the developer offers their deposit back and tells them they aren't the right fit. While the developer may think this is a money issue - it is not a money issue - buyers have the right to know what's going on.
That's when I get a phone call saying, "Derrik, can you help us? We are meeting tomorrow, and I don't know what will happen." Within a few hours, I had everyone calmed down, the meeting was pushed out a few days so Todd and Teresa could both be at the meeting, and I'll be able to manage everyone's expectations from now on to get through a smooth transaction.
Recent Story #2: I received a call from a buyer interested in the Park City area for her third home, and she wants to spend the summers in Park City. Within 10 minutes, we had her search narrowed down to four areas of Park City she would love, and she came into town a week later.
On that first trip, she finds the area she likes and a beautiful condo with great views that will be perfect for her - the problem is that there is such high demand for the condos that it's dang near impossible to get a reservation. We were told we missed the first phase, but the next development phase will be available soon.
I'm a pretty competitive person that likes to win. So I researched to understand better the developer and how they work. I then tracked down the developer's contract and submitted an offer every few days. Lucky for us, a buyer canceled in the first phase, and my persistence paid off.
We got a new condo in the Park City area that was everything the client wanted, and the biggest bonus was that she could obtain the original pricing - saving thousands of dollars. That's excellent news when other buyers are out there hoping someone will get a call saying they have won a lottery and can now purchase the property.
I could go on with stories about how I've helped clients find their perfect spot, a great builder, and 20%+ equity in their home upon completion, how a builder didn't adhere to the blueprints and put plumbing through an area where a window should go so my client was able to get the $90,000 basement 90% finished at no cost and many other stories.
So, if you're thinking about what it costs to build a home in Park City and you want to build a house or even buy a developer product, please call me so we can make building a home as easy as possible.
Contact Your Trusted Park City Realtor for Professional Real Estate Guidance
If you have any questions about building your dream home in Park City or would like to learn more about the real estate market in the area, please don't hesitate to contact us using the phone number at the top of this page or the contact form below. We aim to serve you well and build a lasting relationship where you know you can rely on us as your trusted Park City Realtor for life.
With years of experience representing luxury land buyers and sellers throughout Park City, Deer Valley Resort, and the surrounding area, we have the knowledge and expertise to help guide you through the buying or building process and achieve your real estate goals.
Historical Information of Building During Covid-19:
I spoke with a builder recently to see how the Coronavirus has changed the landscape of buildings in the Park City area. He stated that until now, not much has changed in the cost of labor, but he has been able to get the cost down on framing and stonework on recent projects.
Homebuilding goods have been readily available, but there are occasional issues with appliances and having to select different options for tiles or carpets because the supplier may be running low. Lighting fixtures seem to be the biggest challenge, but there have been easy workarounds where building jobs haven't stalled. We'll see what happens in the next couple of months with the lumber costs back down, but with the current demand for new construction, will the market be relaxed within the next 12 months?
If we could stop time and allow builders to build for four years, then bring all that construction back to today, I think we would sell through the imaginary inventory within eighteen months. But unfortunately, we do not have enough inventory of newly built homes and condos to satisfy the demand for newly built properties. I've worked with multiple clients looking for new construction that want to buy within the next few months, and there are only four to five options for them in a vast geographical area.
Additional Links You May Find Helpful
The Park City New Construction page offers a comprehensive resource for those interested in purchasing a newly built home or condo in the Park City area. The site showcases many new construction properties, including single-family homes, townhomes, and condos, each with unique design and features. With helpful search filters and a user-friendly interface, the site makes finding the perfect property for your needs easy. Additionally, we detailed information about Park City's various neighborhoods, amenities, and attractions, making it a valuable resource for those unfamiliar with the area.
The Park City Communities page provides a comprehensive overview of the various neighborhoods and developments in the Park City area. From the historic downtown district to the upscale enclaves of Deer Valley, each community has its unique character and charm. The page includes in-depth information about each neighborhood, including property types, amenities, and nearby attractions. So whether you're looking for a ski-in-ski-out property or a home with easy access to hiking trails, the Communities page can help you find the perfect neighborhood for your lifestyle. Additionally, the page offers an easy-to-use search tool that allows you to filter listings by community, price range, and property type, making it easy to find the perfect home in the Park City area.
The Park City Real Estate Map Search page is a powerful tool for buying property in the Park City area. With a constantly updated database of properties, the IDX page provides an extensive selection of homes, condos, and townhouses, each with unique character and amenities. In addition, the page's intuitive search interface allows you to easily filter listings by location, price range, property type, and specific features like ski-in/ski-out access, nightly rentals, and more. Whether you're a first-time homebuyer or a seasoned investor, the IDX page provides a wealth of information about the Park City real estate market, including detailed property descriptions, high-quality photos, and interactive maps. With its user-friendly interface and comprehensive database, the Park City IDX page is the perfect tool for finding your dream home in one of Utah's most desirable locations.
Editor's Note: This post was originally published on May 24, 2018, and has been completely revamped and updated for accuracy and comprehensiveness. The most recent update was on May 11, 2023.Posted by Derrik Carlson on