SPECIALTY SKI PROPERTY WEBSITE LAUNCHES

By Jim Barth
Jan 07, 2013

Sotheby's International Realty Ski Specialty WebsiteSummit Sotheby’s International Realty in Park City and Deer Valley, Utah announced the Sotheby’s International Realty brand’s launch of a Ski specialty market website, the latest in a planned series of branded websites for specialty markets.

The specialized website, which can be found at skipropertysir.com, matches the look and feel of the brand’s website, sothebysrealty.com, and provides detailed Ski lifestyle real estate listing information and resources. The website enables buyers and sellers to search for the finest properties in this segment and the sales professionals who represent them. It covers a full spectrum of lifestyle types and properties including: ski-in and ski-out, base of mountain living and close proximity to mountains. The site was launched with more than $2 billion of ski property listings worldwide.

The website will also highlight notable sales internationally and feature area-focused sections, resort mountain descriptions and advanced search capabilities.

“The Sotheby’s International Realty brand has long been a powerful force in world-class Ski markets around the world,” said Wendy Purvey, chief marketing officer, Sotheby’s International Realty Affiliates LLC. “So it was only natural for us to seek to delve further into this market. From ski-in, ski-out properties to villas in the mountains, this specialty website offers a robust inventory of extraordinary homes in locations as diverse as Aspen, Colorado; Hong Kong; Whistler, Canada; Colony, Switzerland and many more.”

The Sotheby’s International Realty network currently has more than 12,600 sales associates located in approximately 650 offices in 45 countries and territories worldwide.

Tags: Sotheby's International Realty, Summit Sotheby's International Realty, Luxury Real Estate, Ski-in, Ski-out, Park CIty Utah, Deer Valley Utah, Ski Properties
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WSJ Debuts New Luxury Real Estate Section

By Jim Barth
Oct 23, 2012

Picture of Wall Street Journal Mansion SectionIndicative of the post-recession growth in the luxury housing market, including the Deer Valley real estate market, The Wall Street Journal launched its new Friday stand-alone print section - “Mansion.” The Journal will also feature select luxury real estate content in European and Asian editions of the print publication and on WSJ.com. Users may also access content through iPad and iPhone mobile applications.

The new section will cover luxury market data, trophy property and celebrity transactions, an international buying guide, information on financing, and more. Sotheby’s International Realty, with offices in Park City and Deer Valley, Utah, has already committed to the “Mansion” section, as well as other luxury brokerages.

Plans also include a daily segment on real estate on WSJ Live as part of its Lunch Break show. Real estate reporter Lauren Schuker Blum will host a luxury home market chat Fridays on WSJ.com.

In a related move, former Conde Nast executive Nina Lawrence, who served as publisher of W magazine, was announced as the Journal’s new vice president of global ad sales. Lawrence’s responsibilities will include marketing and business development for print, digital and special events. She will also lead a planned expansion of the Journal’s custom advertising and creative services operations.

Tags: Deer Valley Real Estate, Park City Real Estate, Luxury Real Estate, Deer Valley Utah real estate, The Wall Street Journal, Mansion, Deer Valley Luxury real estate
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Deer Valley Market Absorption Rate Snapshot – July 2012

By Jim Barth
Jul 02, 2012

At Jim Barth & Associates, we stay focused on current market trends and statistics that might have an impact on our clients.  For instance, yesterday we compiled our “months of inventory” analysis for the Deer Valley Resort market as of July 1, 2012, and would like to share this information with our readers and clients.  We compile these numbers on a monthly basis looking for trends.

When we refer to the overall Deer Valley Resort real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.          

Single Family Homes: As of July 1, 2012, there were currently 59 active listings in the overall Deer Valley single family home real estate market, 2 under contract and 36 homes that have closed escrow in the past 12 months.  This represents 20 months of available inventory for single family residences, which is down from last month’s (June 2012) reading of 23 months and further down from the May 2012 reading of 27 months and even further down from the March 2012 reading of 38 months of available inventory.  Additionally, these numbers are higher due to the lack of single family sales activity in the Empire Pass submarket, where there is currently 132 months (11 years) of available inventory on the market.  Extracting the Empire Pass submarket from the overall analysis, available inventory is further reduced to 17 months as of July 1, 2012.  The overall trend continues to shift away from such an overwhelming buyer’s market that we have experienced in the past few years.  The strongest submarket for single family homes continues to be in the Upper Deer Valley submarket, with 14 months of available inventory, up slightly from the June reading of 13 months.  The submarket providing for the most dramatic improvement in 2012 is the Deer Crest submarket, which topped out in February at 96 months (8 years) and now is at only 15 months, primarily due to absorption of available homes.

 

Condominiums:  There are currently 142 active listings in the overall Deer Valley condominium real estate market, 18 under contract and 160 condominiums that have closed escrow in the past 12 months.  This represents 21 months of available inventory overall, which is up slightly from last month’s (June 2012) reading of 18 months of available inventory.  Similar to the single family home numbers, the overall yearly trend continues to shift away from such a strong buyer’s market and an uptick in months of inventory this time of year is anticipated due to the seasonality of the resort market.  The strongest submarket is the Empire Pass Condominiums, with 19 months of available inventory, up slightly from the June 2012 reading of 18 months of available inventory.

Although these numbers continue to reflect an overall buyer’s market for Deer Valley Resort real estate, the yearly trends continue its movement back toward market equilibrium.

Tags: Deer Valley Resort, Deer Valley Real Estate, Luxury Real Estate, Deer Valley, Jim Barth & Associates, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass
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COURCHEVEL AT DEER VALLEY RESORT COMES BEFORE THE PARK CITY PLANNING COMMISSION

By Jim Barth
Jun 26, 2012

Picture of Courcheval at Deer Valley Resort

Tomorrow, Wednesday, June 27th, the Park City Planning Commission will hold a public hearing and discuss a request for an amendment to the Courchevel Condominiums at Deer Valley record of survey plat.  The Planning Commission will consider a request to convert existing common area attic space at Courchevel B-304 into private area for construction of an additional bedroom and bathroom

The Courchevel Condominiums at Deer Valley is a luxury development located in the Snow Park area of Deer Valley Resort.  It consists of forty-one residential condominium units of approximately 759 square feet each.  The project provides for 60 parking spaces in a shared underground garage. There are two access driveways from the garage to Deer Valley Drive East.

It is interesting to note that there have been a number of similar amendments recently approved at Courchevel at Deer Valley allowing the owner of a condominium to build out their unfinished loft area.  This modification increases the square footage and utility of the condominium while increasing the value of the property.

In January 2011, the Courchevel Homeowners Association voted to approve construction of the additional floor area and the transfer the 470 square feet of common space to private space for units B-202 and B-304. The City Council is scheduled to hear the item and make a final decision on June 28th.

Please contact us for more information.

Tags: Deer Valley Resort, Deer Valley Real Estate, Luxury Real Estate, Deer Valley, Park CIty Utah, Snow Park Lodge, Courcheval Condominiums at Deer Valley Resort
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Sotheby’s International Realty Brand Strengthens Presence in Aspen, Colorado

By Jim Barth
Mar 03, 2012

Just a few days ago, Sotheby’s International Realty published a press release announcing that Morris & Fyrwald Sotheby’s International Realty in Aspen and Carbondale, Colo. has combined with Chaffin Light Real Estate in Aspen, Snowmass Village and Basalt, and now will operate as Aspen Snowmass Sotheby’s International Realty.

 “Morris & Fyrwald Sotheby’s International Realty has a reputation as a strong leader in the Aspen market while Chaffin Light Real Estate and its predecessor, Snowmass Real Estate Company, have been market leaders in Snowmass Village and the Mid-Valley,” said Philip White, president and chief operating officer of Sotheby’s International Realty Affiliates LLC. “The combined strength of these two companies and the Sotheby’s International Realty brand will provide clients with extraordinary opportunities in one of the world’s most high-end markets.”

 This is further evidence that the Sotheby’s International Realty Brand is continuing to increase its focus on the luxury mountain resort areas of the western United States with additional offices located in Park City, Deer Valley® Resort, Vail Resort and Lake Tahoe.

Tags: Deer Valley Resort, Deer Valley Real Estate, Park City Real Estate, Ski towns, Park City Mountain Resort, Sotheby's International Realty, Summit Sotheby's International Realty, Morris & Fyrwald Sotheby's International Realty, Aspen, Snowmass Village, Aspen Snowmass Sotheby's International Realty, Luxury Real Estate, Vail Resort, Lake Tahoe
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