August Update

August 2022 Update

 

 

The $3 million courtyard and pool, renovations at The Chateaux Deer Valley are officially complete! Significant upgrades include a complete renovation of the 25,000-square-foot courtyard. The signature water fountain is now surrounded by two fire features, new lawn areas, four smaller fire pits in the center of the courtyard, new seating areas, two hot tubs sit adjacent to the brand new pool, and more poolside lounging space!

 

 

 

 

For more statistics on specific communities or neighborhoods, contact us!

 

Some significant trends are emerging in the Wasatch Back market area as the market adjusts for the enormous swings we have seen during and since the coronavirus pandemic. Listing inventory is rising, prices are starting to level off as mortgage interest rates climb. Buyers are becoming more hesitant to make instant offers above asking price and sellers are reacting by lowering those asking prices in much greater numbers.

 

The remarkable rise in the sale prices of single-family homes that we experienced since shortly after the global pandemic struck in the latter half of 2020 continued through all of 2021 and into the first half of 2022. Sale prices for single-family homes in the primary market area of Summit and Wasatch Counties as reported by the Park City Board of REALTORS® Multiple Listing Service for the year ending June 30 showed strong appreciation with increases in both average (Up 15%) and median (Up 11%). For the year earlier, those increases were 54% and 58% respectively.

 

 

 

The 2022 Park City Kimball Arts Festival returns to Park City’s Historic Main Street from August 5-7. Approximately 200 artists were selected via a blind jury and invited to participate and come from 28 states and three countries.

 

 

The Summit County Fair is held annually during the first full week of August. It's a traditional small town county fair with cowboys and bucking broncos, a carnival midway, beauty queens, home canned goods, flowers, vegetables, and more.