Montage Deer Valley Real Estate

By Todd Anderson

Dec 02, 2011

We are close to having one year of sales data for the Montage at Deer Valley and the sales data shows surprising strength given the overall market and world economy. Thirteen sales have been completed for Montage Deer Valley Residences. The sales represent just over 15% of the available units but were nearly 50% of all sales in Park City’s luxury real estate enclave of Empire Pass. Sales prices have ranged from $1.6M to $8M.

The latest release of residence models at Montage Deer Valley will feature a showcase residence that is a collaboration between interior designer Philip Gorrivan and One Kings Lane (a leading online site for designer décor, furnishings and accessories). The 3471 square foot home is a two story three bedroom, three bath model featuring a large great room, dining room, gourmet kitchen, and den. Three private balconies offer incomparable ski resort and valley views. The designer elements in the home have created a mountain modern feel in which each room has its own unique sense and appeal to the luxury Park City lifestyle. Our recent tour through this home was impressive.

The home will enjoy access to all of the Montage Deer Valley spa and resort services and amenities; not the least of which is its slope-side Deer Valley location.

For more information about this special Montage Deer Valley home or a private tour focused on luxury Park City and Deer Valley real estate contact YouInParkCity.com at (888)968-4672.

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Tags: Deer Valley, Empire Pass, home, montage, Park City, Real Estate, resort, Ski
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Park City Real Estate Luxury Sales 2011

By Todd Anderson

Mar 27, 2011

Luxury real estate sales in Park City, UT for the year so far show a slight decrease when compared to the pace of 2010. 2010 saw luxury home sales in Park City, UT buoyed by the St Regis Hotel at Deer Crest and Silver Strike Lodge at Empire Pass. 2011 is seeing strong sales from the new Montage at Empire Pass as well as continuing sales of the Flagstaff condominiums in Empire Pass.

The 33 sales so far this year of homes or condominiums with asking prices over $2M include 6 Flagstaff condominiums and 5 Montage residences. With over 70 residences at the Montage still to be sold, the Montage will likely impact luxury sales in Park City for the foreseeable future. Also of note in recent sales are the sales of 3 homes (plus 2 pending contracts) in the Colony area of Canyons Resort. The average sale price for homes listed at over $2M remains fairly steady at nearly $3M. Relatively small sample sizes in this market combined with the occasional sale in the $10M range have impacts on this data. The luxury residence category overall is may be beginning to show more pricing pressure. Currently the Park City MLS shows over 170 homes and 70 condominiums in the luxury category over $2M. Current sales show a discount rate of over 15% from asking price and the influence of undisclosed sales prices across the Park City MLS means that this discount rate could be considerably higher. The luxury home market in Park City and Deer Valley is a tough category to consider as a whole because there are many factors which makes each of the homes and condominiums in the luxury category unique. For a more complete analysis and in-depth information about individual properties contact a realty professional with YouInParkCity.com (888)968-4672.

Tags: colony, Deer Valley, homes, Luxury, montage, Park City, sales, Utah
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Deer Valley, UT New Home Scarcity

By Todd Anderson

Feb 01, 2011

The Empire Pass area of Park City, Utah's Deer Valley was launched in 2002 with the Ironwood Development. This began a new phase of luxury ski-in/ski-out homes and condominiums in Deer Valley. The developments at Empire Pass have been clustered close together in order to allow true ski-in/ski-out access and to preserve thousands of acres of open space around them. The density of condos and townhomes at the base of the Silver Strike, Northside and Empire Express chairs at Deer Valley does not necessarily give a feeling of scarcity, but a look at the sales and future development possibilities tells another story. Twelve developments have been completed in the Empire Pass area of Park City. Five of these developments have sold out. Another five of the developments are nearly 80% sold through. Two developments are in their early stages of sales; the Montage at Deer Valley and Belles at Empire Pass (14 Single Family Models still to be built). The majority of available units (less that 80 currently) are within the Montage. Once the current available inventory is sold, there are only 4 development entitlements left within the Empire Pass area of Deer Valley. 2010 saw 45 sales close in the Empire Pass area (17 sales in the Flagstaff development lead the way with 15 in Silver Strike). This number is enough to sell through the current inventory listed on the Park City MLS. And most Realtors® and developers feel that it was a poor year in terms of sales. Pricing in the Empire Pass area of Park City reflects the luxury nature of the amenity rich homes and condominiums. The scarcity of present and future development in the area as well as the finite supply of ski-in/ski-out properties in Park City and the world also impacts pricing here. The recent completion of the Montage Deer Valley while adding considerable inventory to the area also adds public amenities that the area was lacking. The new restaurant, spa and public spaces will add to the buzz around the area on a year around basis. The opportunities at the Montage also put the Empire Pass area of Deer Valley as a whole that much closer to being built out. The scarcity of future development in the area will only drive prices higher. For more information on the Empire Pass area of Park City, UT contact a realty professional with YouInParkCity.com.

Tags: Belles, Deer Valley, Empire Pass, Flagstaff, ironwood, Luxury, montage, Silver Strike, ski out, ski-in, UT
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Montage Deer Valley Construction Full Speed Ahead

By Todd Anderson

Apr 04, 2010

Park City, UT: Montage Resort Deer Valley construction goes on 24hrs per day. Park City, Utah officials have given Montage Deer Valley Resort developers the OK to work 24 hours per day. This marks the first time in over 30 years that officials have allowed for such a construction schedule. The unique location of the Montage Deer Valley Resort allows for a schedule that should have minimal effect on nearby property owners and guests. The Montage Deer Valley will sit at an elevation of over 8000' next to the Empire Canyon Lodge and Ruby and Empire Express ski lifts at Deer Valley Resort in Park City. The Deer Valley Ski Resort closes for the season on April 11, 2010 which will minimize the number of guests and owners staying in residences in the Empire Pass area of Park City. The Montage Deer Valley recently celebrated its "topping off" marking a construction milestone with an evergreen tree placed atop the structure after the last beam was put in place. Over 900 workers are presently working within the wrapped scaffolding construction site. The ability to work 24 hours a day will help keep the resort on track for its anticipated opening in December of 2010. The resort will have 174 guest rooms, a 35,000 square foot spa facility, 15,000 square feet of convention space, multiple dining options including 24 hour in room dining services plus indoor and outdoor recreational spaces. The Montage Deer Valley recently released its initial pricing for the 81 private residences with prices starting at just over $2 million and ranging up to nearly $8 million. Incentives are being offered to early buyers which include season ski passes at Deer Valley Resort, guided skiing privileges, Talisker Club access and stays at the Montage Beverly Hills or Montage Laguna Beach. A model residence is complete and available for viewing by prospective buyers. For more info contact a YouInParkCity.com real estate professional.