We have known that Vail would be heavily investing in The Canyons and Park City Mountain Resort for quite some time and we have seen condo and single family owners hold firm on their asking price over the past twelve to eighteen months. There have been stories that after the news of Vail’s $50 million investment owners increased their asking prices by 10% but that is not the norm now will it necessarily help someone sell their property in Park City. Many property owners in Park City see this as a great opportunity for real estate appreciation but are worried about losing the small town feel of Park City. Park City has seen change and development growth over the past thirty, forty, and even fifty years - in reality it keeps us on pace to continue growing with real estate development. There are several new real estate developments that will be coming online over the next four to eighteen months so keep an eye out for new listings. If you are thinking about investing in Park City real estate now would be the appropriate time to create a plan of action. Investment properties in Park City typically do not have a high cash-flow but many of the investors who are buying homes, condos, or land are calculating the probability of overall real estate appreciation.
Contact Derrik Carlson at 435-200-5478 with any of your real estate needs.