Woooo Hoooo FINALLY a Market Update!

Sorry it has been a while since the last market update, but we have been working on changing the the layout of this website...it is going to be great when it is complete! So in the last week we saw 76 properties come on the market, 30 go under contract, and 25 close. Here are the high notes:
 
ACTIVE:
-Lower Deer Valley Solamere home at $1.995m; 6bd/5ba, 5050 sq ft, $395psf....under $400psf is not too bad for Solamere and I have a feeling that they will go lower.
-Newly constructed Lookout townhome in Upper Deer Valley at $4.45m; 5bd/6ba, 6182 sq ft, $720psf...this is one of the best units in the development.
-Little Belle condo in Upper Deer Valley for $2.55m; 4bd/4ba, 2812 sq ft, $906 psf....the price per sq ft seems very high! I have not been in the unit yet, but this one might sit on the market for a while....$906psf will get you Empire with a Talisker membership.
-Glenwild lot for $610,000....there are some good deals on lots at Utah's #1 golf course, Glenwild. I believe the cheapest is $475k.
-Promontory home at $14.5m, 6bd/9ba, 12,340 sq ft, $1175psf....this is not a typo! There is not a more beautiful home at Promontory folks, however with the current situation homes are hardly selling at half that price per sq ft. It might take a while, but for the right buyer this one is a gem... Only 11 homes have ever sold in Park City over $8m and they are all ski in/ski out!
 
PRICE CHANGE:
-Shooting Star unit at Deer Valley's Empire Pass dropped $100,000 to $1.895m for 3bd/4ba, 1745 sq ft, $1085psf....I have a feeling this one will fall a little further, but still a good deal for Empire Pass at Deer Valley.
-Tuhaye lot down $20,000 to $475,000.....It is my feeling that lots in all the golf course communities is still a bot over priced. But what will happen first, the market coming back or seller's getting real? Some seller's have slashed prices and there are some good deals to be had (i.e. a few in Glenwild and Promontory), but looking at the market overall the prices still need to come down a little for vacant land.
-Tuhaye home dropped $80,000 to $2.795m; 4bd/4ba, 4188 sq ft, $667psf...beautiful home!
 
PENDING:
-Grand Lodge at Empire Pass at $3.985m; 5bd/6ba, 3264 sq ft, $1220psf....Empire Pass is still demanding strong numbers per sq ft.
-Ontario Lodge at $1.13m; 3bd/4ba, 2059 sq ft, $548psf....great views and under $550psf is not bad.
-Park Meadows home at $2.448m, 5bd/6ba, 5912 sq ft, $491psf...high ppsf in Fairway Meadows, but somebody liked it.
 
CLOSED:
-Promontory lot at $507,000....a fairly nice deal for someone
-Old Town home at $1.5m, 4bd/5ba, 2601psf, $538psf...another good deal for the buyer!
-Pinnacle unit at $900k, 4b/5ba, 3530 sq ft, $254psf....a screaming deal! especially the way these rent and a downhill unit!
 
Stay tuned folks for a Promontory update, and a Deer Valley report.