Jim and Billie Harsch

The Park City Board of Realtors statistics for January 2012 show that Gross Sales Volume of $48M was down 35% from January 2011. Overall pending sales are down 26% over January 2011. The number of available listings is down 10% from the same time last year, and distressed properties have minimal impact on the current market.

Single Family Home Sales were approximately 60% of the total Sales Volume and are down 26% from 2011. Average Sales Prices were down 11% and pending sales are down 37%, however, sold prices are only about 3% less than the list price.

Condominium sales retreated to a more normal pace at $15M without the sales at St. Regis in Deer Valley.

Residential Lot sales continued to be weak as many of the distressed inventory has been absorbed.

Park City was the strongest Western Resort market in 2011. Now is a great time to buy in Park City.

For complete details of each area and all Park City Homes for Sale, please contact Jim and Billie Harsch of Mountain Town Realty Group at http://www.unlockparkcity.com

Will the 2022 Winter Olympics return to Salt Lake City, UT which will also feature Park City, UT? Gov. Gary Herbert recently formed an 11 person committee to explore whether Utah should mount a bid for future Olympics.

The 2014 Winter Olympics will be held in Sochi, Russia and the 2018 Winter Olympics will be held in Pyeongchang, South Korea.

Park City hosted about half of the athletic events in the successful 2002 Winter Olympics and many of the venues have remained, and those have hosted many International events and provide training facilities for many Olympic atheletes.

The United States Olympic Committee has until 2013 to decide if the USOC will submit a bid for 2022 or 2026. Reno/Tahoe is also considering submitting a bid to the USOC. The IOC (International Olympic Committee) will choose a site in 2015.

The luxury home market continues to get better in Park City, UT. A magnificent custom home with commanding views of Mt. Timpanogos at the Jack Nicklaus Signature Course at Red Ledges, recently closed for $1.9M. The 5,400 sf home has 5 bedrooms and 6 bathrooms, with gourmet kitchen, fitness room, wet bar and hot tub. The home was originally listed at $3.5M.

Red Ledges is 2,000 acre, gated, year-round community with world class amenities including a Jim Mclean Golf Center and Cliff Drysdale Tennis Center. Home prices start with the Villas in the high $400,000s and there are several other home choices.

The luxury home market is up about 21% year-to-date 2011 in homes sold, compared to 2010.

For additional information on Luxury Homes or any Park City Homes for Sale, please contact Jim and Billie Harsch with Mountain Town Realty Group at http://www.unlockparkcity.com

An Auction will be held on September 28^th, 2011 at 8:00 am on a 3 bedroom, 2 bath home at the end of a cul-de-sac in a quiet neighborhood in the Prospector Area of Park City, UT. Interior features include hardwood floors, brick fireplace and fully finished basement. Sold prices in the neighborhood have ranged from $265k to $645k.

For more information on the Auction or any other Park City Homes For Sale contact Jim and Billie Harsch of Mountain Town Realty Group at http://www.unlockparkcity.com

The Colony at White Pine Canyon, located in the heart of Canyons Resort, Park City, UT has released 7 additional luxury homesites. The homesites range from 2.3 acres to 7.6 acres and are priced from $1.9M to $3.0M. These are top of the market homesites with tremendous views.

The Colony is an award-winning, gated, “ski-ranch”, 4,800 acre community that sets the standard for on-mountain living. Current homes available, range in price from $4.3M to $26.2M.

We have sold property in The Colony and are very familiar with the development. For more information on The Colony or any Park City Homes For Sale, contact Jim and Billie Harsch of Mountain Town Realty Group at http://www.unlockparkcity.com