Park City Real Estate News

Found 59 blog entries about Park City Real Estate News.

BERKSHIRE HATHAWAY HOMESERVICES UTAH PROPERTIES NAMED 12TH HIGHEST PREFORMING BROKERAGE, PARK CITY OFFICE NAMED #3 HIGHEST SALES OFFICE, AMONG OTHER TEAM AND INDIVIDUAL AWARDS

SALT LAKE CITY, UT – MARCH 20TH 2017 – Berkshire Hathaway HomeServices Utah Properties received numerous brokerage, office, team, and individual awards at the annual Sales Convention in Phoenix, Arizona on March 14th, 2017. Utah Properties was celebrated as the 12th highest performing brokerage while the Park City Office the 3rd highest sales office was in the network. Notable team and individual awards included Chin MacQuoid Fleming Harris as the 8th highest producing team, Carol Agle the #8 Agent, and Jan Wilking the #1 Commercial Agent in the network. Additionally, both the

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An Overview:

Below is a current overview of the market and the trends we expect to see in real estate this year. Reach out for more in-depth information on your neighborhood. 

WE ARE IN THE BEST STATE FOR BUSINESS

The perennial winner of Forbes' annual Best State for Business award, Utah remains competitively positioned to support continued real estate growth. With an abundance of technology, health care, and creative businesses planting roots in Utah, our state unemployment rate is among the lowest in the country at just 4%. Due to the state's unprecedented economic evolution, real estate sales are likely to remain robust in northern Utah.

JOB GROWTH MEANS HOUSING GROWTH

Utah’s job growth rate is 3 to 4 times higher than the

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According to the National Association of Realtors:

The average median property tax rate across the nation is 1.31 percent. That means a home owner with a home valued at $200,000, on average, pays an annual amount of $2,620 in property taxes, according to an analysis by CoreLogic’s data team.

Illinois has the highest median property tax rate at 2.67 percent. Hawaii, on the other hand, has the lowest at 0.31 percent.'

“While higher median tax rates are seen primarily among states in the northeast, a notable exception is Texas, which has a median property tax rate of 2.17 percent,” CoreLogic reports. “Typically, the states with the highest property tax rates, with the exception of Illinois, have multiple levels of tax collection. Conversely, the

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FIRST QUARTER

 

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Greater Park City Area

Single Family Homes Sold this Quarter: 180

Average Single Family Sale Price: $1.3 million

Median Single Family Sale Price: $722,000

Condominiums Sold this Quarter: 151

Average Condo Sale Price: $800,000

Median Condo Sale Price: $500,000

Wasatch County

Single Family Homes Sold this Quarter: 58

Average Single Family Sale Price: $584,000

Median Single Family Sale Price: $434,000

Condominiums Sold this Quarter: 35

Average Condo Sale Price: $429,000

Median Condo Sale Price: $355,000

Reach out for a comprehensive overview of Park City's market and your neighborhood's trends.

 

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In which we provide, for your own edification and enjoyment, the latest data related to select U.S. resort markets ...

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Palm Desert, CA

  • Average Sales Price: $458,774
  • Median Sales Price: $357,042
  • % Change Median Sales Price from 2014 to 2015: -2.3%

Palm Springs, CA

  • Average Sales Price: $611,209
  • Median Sales Price: $523,291
  • % Change Median Sales Price from 2014 to 2015: 4.0%

Big Sky, MT

  • Average Sales Price: $1,067,952
  • Median Sales Price: $622,000
  • % Change Median Sales Price from 2014 to 2015: -4.4%

Bozeman, MT

  • Average Sales Price: $454,433
  • Median Sales Price: $362,000
  • % Change Median Sales Price from 2014 to 2015: 11.4%

Aspen, CO

  • Average Sales Price: $3,313,930
  • Median
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We are thrilled to announce our EXCLUSIVE relationship with 3rd Home.

3RD HOME Introduction from 3RD HOME on Vimeo.

Friends and clients of Berkshire Hathaway HomeServices Utah Properties have been pre-approved for a complimentary lifetime membership in 3RD HOME, valued at $2,500. Additionally, you will be upgraded to the President’s Club level for 1 year — a total savings of almost $3,000! Sign up at www.bhhsutah.3rdhome.com/signup.

WHAT IS 3RD HOME?

Thailand-Sensational Samujana

3RD HOME is a private club for the owners of luxury second homes. With an average property value over $2.4 million USD, over 5,300 properties and growing, and endorsements from the top luxury residential and resort brands, 3RD HOME enables vacation home owners to travel the world staying

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The Colony features some of the most stunning ski properties in...well...anywhere. This private community sits perfectly in White Pine Canyon underneath and around the new Park City Mountain Resort Quicksilver Gondola.

 

 

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Tax considerations for buyers and sellers
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taxes

Buyers and sellers need to be informed about tax considerations before entering a transaction.

If you have purchased or sold a home last year, there are a number of tax deductions for which you may qualify. Here are some important factors to keep in mind:

Profitability: According to the IRS, if you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income as a single tax filer, or $500,000 on a joint return in most cases.

Interest: Currently, much of the interest paid on a mortgage is tax-deductible. A married couple filing jointly can deduct all of their interest on a maximum of $1 million in mortgage debt secured by a first

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This comprehensive yearend market report is designed to give an overview of Summit and Wasatch County real estate. We feel that our clients should have access to information that facilitates thoughtful real estate decisions. All statistics are based upon Park City Board of Realtors MLS data for the period of 1/1/15 to 1/1/16.

The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, and features and amenities. For example, while Deer Valley and Prospector share the same zip code, average single family home prices in these two neighborhoods differ dramatically. Data interpretation, judgment, and historical context are key elements to making

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Park City, Utah – January 26th, 2016

Summit and Wasatch County property prices rise at a steady market pace in 2015

At the end of the fourth quarter of 2015, the year-end statistics reported by the Park City Board of REALTORS® indicated a slow but consistent annual increase in both the number of closed sales and the median sales price for single family homes, condominiums and vacant lots in Summit and Wasatch Counties. The total dollar volume for 2015 was up 10% over 2014, reaching $1.85 billion, with single family homes sales accounting for the highest dollar volume by property type.

Single Family Home Sales

Within the City Limits (84060), the median sales price of a single family home was 17% higher than the year before, reaching

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