It is SNOWING!

This morning we woke up to the season’s first snowfall. Two- to three inches on the ground and still snowing. While we know that this will melt off as soon as the sun comes out, the season’s first snow is always exciting and a sign of good things to come. The aspens are beginning to turn their brilliant gold and this mixed with the red maples and the white snow will make for a spectacular week here in Park City.

While these are the quiet days in town, there is the beginning of excitement as the winter employees begin to arrive and the ski areas and shops in town start gearing up for the winter season. The first snowfall brings on a little more urgency for the resorts to finish up their summer projects, get the lifts in working order, and finish up grooming on the mountain. The three resorts have been busy, either adding lifts, new runs, more snowmaking, or general improvements to the resorts. We are all looking forward to and anticipating the upcoming ski season.

In real estate, we have seen a bit of an increase in activity as buyers are in town picking up late-season bargains for this upcoming ski season. Right now there is a good supply and variety of homes and condos near the resorts. Many of these units have been remodeled and are excellent rentals. From speaking with the lodging companies, winter bookings are filling up quickly, so if you’ve not already made your reservations, it is time to do so.

Number One Again!

Each year in its October issue, SKI Magazine publishes rankings of the major ski areas in North America based on reader input. This year Deer Valley is once again rated the number one ski resort in North America. The poll is based on input from readers of SKI Magazine who answer a survey asking them to rate resorts that they have visited. Deer Valley was rated number one in 11 of the 18 categories surveyed. These included grooming, on-mountain food services, and guest services. While all the categories are important in the ranking we are especially proud of the guest services ranking. Since its inception, Deer Valley has strived to set the standard for guest services and remarkably, over the last 26 years, has maintained the standard. Guests coming to Deer Valley are always impressed by the friendliness and helpfulness of all the resort staff. From ski check attendants to lift operators, restaurant personnel to mountain hosts, Deer Valley hires with the expectation that their guests will be treated as if they were staying in a fine hotel. This commitment to service and quality of ski experience has proved to be a winning combination as Deer Valley’s skier numbers increase every year and it has been rated the number one North American ski resort three out of the last seven years.

This commitment to excellence has translated to booming real estate sales in Deer Valley. The new Empire Pass area has been exceedingly popular with most of the condominium buildings selling out prior to completion of construction. Empire Pass features a variety of ski-in/ski-out condominium buildings, townhouse condominiums, and single family homes. Last winter, the first phase of single family homes, The Paintbrush at the Village at Empire Pass, sold all of their 18 homesites. This winter, there is a new area of homes called Nakoma. There will be 16 homes built with direct ski-in/ski-out access to the new Lady Morgan Express chairlift. These homes will be around 5,000 square feet, of the quality expected of Deer Valley, and all will have spectacular views of the ski runs of Deer Valley and the town of Park City.

With fall quickly arriving, we had our first frost this morning. We are seeing an increase in buyers looking to pick up a ski condo for this winter. This past week we have seen several condominiums in both lower and upper Deer Valley have contracts accepted. Our fear for this winter is a lack of inventory. The number of condos listed for sale is about 25% less than we had at this time last year. While there still are some excellent opportunities, they are selling faster than new units are coming on the market.

September is one of the most beautiful months in Park City, with daytime temperatures in the mid 60’s to 70’s, and chilly nights. The fall leaves have started to turn, which makes hiking and biking the local mountains especially beautiful. This is a great time to come out and visit, to enjoy fall in the mountains, and to see what’s new at the ski resorts and real estate opportunities at the various resorts.