Park City Real Estate News

BHHS Utah Listings Now on Wall Street Journal

By Berkshire Hathaway HomeServices Utah Properties
Feb 11, 2015

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All BHHS Utah are now featured on the Wall Street Journal. 

As part of a new partnership between Berkshire Hathaway HomeServices and Wall Street Journal, all of our firm listings now appear in the Wall Street Journal's online Real Estate search section. Search under Utah to view all relevant listings.

We are thrilled with the robust marketing efforts championed by Berkshire Hathaway HomeServices. As one of the most respected brands in the world, BHHS has the gravitas and powerhouse network to ensure every BHHS client benefits from utilizing our services.

As more and more consumers move their property searches online, you can be sure that as a BHHS client your listing is given every advantage in the digital sphere.WSJ Screen shot

The Wall Street Journal is a perfect match for the Berkshire Hathaway HomeServices brand. Accordingly, the brand has negotiated for affiliates to capitalize on all that the Journal has to offer. “We are excited to roll out this program,” said HSF Affiliates VP of Marketing Kerry Donovan. “From online, to print, to listing syndication, The Wall Street Journal reaches the affluent market we target through our brand.”  

In addition to being among the digital listing feed, BHHS has secured long term advertising for the brand in both the print and online edition of WSJ.

Our Market Share

By Berkshire Hathaway HomeServices Utah Properties
Feb 09, 2015

We're the most successful brokerage in Utah.

With $1.875 billion in sales in 2014, we are Utah's largest brokerage.

We are the leading representative of developments, luxury properties, and clients who value trust and results. It is an honor to represent the community we love--our results indicate more than success; they illustrate how passionate we are about providing the best real estate service in Utah.

In Park City, we hold healthy margins in all key market areas. Our market share supports firm clients by increasing their reach and removing complexity from the intricate process of buying and selling property. Buyers and sellers can be assured that they are dealing with established professionals who are supported by Park City's most recognized and experienced real estate company.

Here's how we stand in Park City:

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In Conversation with Gallery MAR

By Berkshire Hathaway HomeServices Utah Properties
Feb 09, 2015

In Conversation with Maren Mullin, Owner of Gallery MAR on Main St. 

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1.     What do you find inspiring in art at present?

Artists who take risks and work with media in new and interesting ways. Like many collectors, I love to be surprised.

2.       What art trends are taking place currently? What are some of your current favorite artists and why?

I try to avoid trends at Gallery MAR, and work with artists whose work and careers will continue to have a lasting legacy. We are seeing a resurgence of enthusiastic (wax) work across the board, and one of my personal favorites in the gallery is Bridgette Meinhold, who works in this media and is a local artist. Her paintings are serene and evoke a feeling of being lost among the pines in our beautiful backcountry.

3.       What inspired you to open Gallery MAR in Park City?

I always knew that I wanted to run my own business, and the art world is an always-changing, fascinating business. I love working with artists, and seven years ago felt that the time was right to take a risk and go out on my own. We have an incredible group of female business owners and entrepreneurs here in Park City, and I continue to be inspired and encouraged by them.

4.       How has Park City’s art community developed in recent years? Do you see Park City as an artistic community?

Thankfully, we are seeing more and more destination visitors who are coming to Park City to expand their art collections. Indeed, we ship artwork allover the world. Park City is a town full of creative souls, but most of our artists at Gallery MAR are from all over the country.

5.       What’s your background?

I moved here to live with my husband Matt Mullin and seven years later we got hitched. I grew up in Seattle and lived in LA prior to moving here and was gratefully exposed to fine art and music in my childhood.

6.       How do you think art improves interiors?

I believe that we should surround our selves with beauty -- our decor should all bring us joy and be beautiful. Artwork is a way to express yourself. Artwork improves our interiors, but also our lives. There is no doubt that a household that has been staged with fine art will sell faster.

7.       Which art trends and artists should homeowners buy into that would have the highest return on investment?

I always say, "buy what you love!" and I will continue to. We each have such personal and interesting tastes, and with artwork you should always go with your heart. Very few collectors want to re-sell their artwork in their life time, and instead buy what they love... and move it from house to house as they themselves move on.

If you are just starting your collection, look around and visit our beautiful Park City galleries. You will find a plethora of options, at all price points.

8.       What’s your process when you select artists to showcase in your gallery?

I work with artists whose artwork will fit a contemporary mountain home. We are very careful curators, and only bring in a few new artists every year. Our variety is great, but each artist is highly credible and high quality.

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Rapid Fire Questions:

1.       Park City resident since: December, 2003

2.       Favorite Park City Restaurant: My neighbor, Purple Sage

3.       Favorite thing to do in Park City: You're asking this mid-winter? Spaaaahhhh!

4.       Biggest source of inspiration: My incredible husband

5.       Your passion: My Family; especially my newly toddling daughter Jane

 

2014 Park City Market Overview

By Berkshire Hathaway HomeServices Utah Properties
Jan 28, 2015

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The Park City real estate market in 2014 proved healthy but measured. Generally, our market maintained its gradual course of improvement with certain sectors of our segmented marketplace seeing substantial growth. Growth remains steady and shows no sign of slumping or unstable bubbles.

2013 was a record-breaking year, and it seemed unlikely that we would see the same gains in 2014; however, pended sales were slightly up over 2013, and total sales volume was just slightly under over last year. Here are some trends we witnessed in 2014:

-There was a slight 1.5% increase in pended sales over 2013 and a 22% increase over 2012

-October brought more pended sales than any single month since 2006…there may be a correlation between this increase in transactions and the announcement of Vail Resorts’ purchase of Park City Mountain Resort, but it is impossible to determine this with certainty

-We had a robust 4th Quarter with sales up 28% over 2013 and up 40% over 2012: specifically condo sales increased by an astounding 11%

-Absorption rate has been under 6 months for the entire 4th quarter suggesting that inventory is low and our market favors sellers

-Distressed sales are at pre-recession levels

-Several areas experienced significantly increased interest and sales: Jeremy Ranch (+33%) and Sun Peak/Pinebrook/Silver Springs (+33%), both commuter areas saw a huge influx of buyers. This may possible be a result of Salt Lake’s ever growing economy

2014 Prices in Park City Proper

Average Condominium Sale Price: $931,210

Median Condominium Sale Price: $542,450

Average Single Family Sale Price: $1,869,048

Median Single Family Sale Price: $1,300,000

2014 Prices in Snyderville Basin

Average Condominium Sale Price: $395,224

Median Condominium Sale Price: $360,975

Average Single Family Sale Price: $1,121, 922

Median Single Family Sale Price: $775,000

2014 Prices in the Heber Valley

Average Condominium Sale Price: $199,312

Median Condominium Sale Price: $177,150

Average Single Family Sale Price: $470,498

Median Single Family Sale Price: $345,000

A Local’s Guide to Sundance

By Berkshire Hathaway HomeServices Utah Properties
Jan 22, 2015