SUMMIT SOTHEBY'S INTERNATIONAL REALTY

Jensen And Company, Park City, Utah

Real Estate Newsletter

April 2014

Market demand remains fairly strong thru the first quarter of 2014 for all types of properties.

Following is a year over year comparison of real estate sales for the first quarter of 2014 as compared to the first quarter of 2013.

There were 162 homes sold in the first quarter of 2014. In 2013 for the same period, there were 181 home sold. The average sold price per home was $1,058,000 in 2014 vs $1,029,000 in 2013 which represents an approximate 3% increase in average price per home. The median price per home rose from $619,000 to $630,000 or about 2%.

Condo sales were up in 2014 with 171 sales as compared to 142 sales in 2013. This represents a 17% increase in the number of condos sold. The average price decreased from $770,000 to $733,000 or about 5%. The median sold price remained almost equal from 2013 to 2014.

The number of vacant land/lot sales increased slightly from 47 sold properties in 2013 to 49 sold in 2014. This represents about a 4% increase and the average sold price increased from $263,000 to $293,000 or about 10%. The median sold price increased 18% from $118,000 to $144,000.

In summary, overall demand remains about the same as it was one year ago with a slight decrease in demand for single family homes and an increase in demand for condos. Demand has increased for vacant land/lots and prices have increased to reflect it. There is a shortage of good lots in areas other than the large golf course communities. We have seen an increase in new home construction and will no doubt see even more this summer.

Of course this is just a snapshot of current activity. It is hard to predict how the market might develop through the year with data from only one quarter. Stay tuned and we will keep you posted as the year unfolds.

If you have specific questions regarding the real estate market in your area, please send a note or give me a call. I would be happy to discuss.

Best Regards,

Brad Jensen
Jensen And Company

www.jensenandcompany.com
(435) 901-8333

KIMBALL ARTS CENTER RENOVATION

Park City's Kimball Art Center will be expanding its walls to include a children's center and more exhibit space, not to mention a new swanky exterior.

From livery stable to auto garage, and then arts hub, the Kimball Art Center has gone through many transformations over the years; but this one is by far the largest.

The 15,000 square-foot addition will house more exhibition space and public meeting areas, along with the Children's Interactive Discovery Center. Construction is anticipated 2015.

Beyond the Main Street location, the center will purchase a second venue to house their expanding educational offerings.

The new Kimball Art Center will be designed and built by the internationally acclaimed Bjarke Ingels Group and local Elliott Work Group.

"The design will become a jewel within the strand that is Historic Park City," says Craig Elliott of Elliott Work Group.

Visit www.kimballartcenter.org for more information or feel free to call me with questions!

Brand New, Single Level in Dutch Fields, Midway

CLICK ABOVE FOR MORE PHOTOS 584 E Dutch Summit Ct, Midway, UT

Offered at $569,000

You must see this beautiful new home which features single level living in the coveted Dutch Fields community of Midway, UT. This home features solid construction, 3 spacious bedrooms plus an office, high end fixtures and appliances including Wolf and Sub-Zero. Enjoy additional outdoor living space in the covered patio with wood burning fireplace in a great location with views of the local mountains, and 90 fabulous golf holes within 5 minutes. The Dutch Fields community sports a club house and swimming pool for the kids in summer as well as fishing ponds and trails. Deer Valley Resort is 15 minutes away and Sundance Resort is 25 minutes away. The Jordanelle Lake and the Deer Creek Lake are both within 15 minutes for all types of water sports. Come for summer and enjoy the almost perfect climate then stay for winter and the Greatest Snow On Earth.

Click here for more information

EVOLUTION OF EXTRAORDINARY 2014

Click here if you can't see video preview

There are now 2.1 BILLION Internet users. 72% of those users don't speak English. China will soon be the number one English-speaking country in the world. Summit Sotheby's International Realty is the only brokerage firm in Utah to display all properties to a global audience of luxury real estate clientele with:

1. 16 human-translated languages

2. Currency conversion with 50 currencies

3. Metric and imperial units of measure

4. Search by Lifestyle (Many global visitors skip over Salt Lake City and Park City without this)

5. Mobile optimized presence

With 45% of our web traffic coming from outside the United States, it is time to replace your local brokerage with Sotheby's International Realty.

HOW IS THE REAL ESTATE MARKET

Real estate is local, which is why we offer you current and historical data from our local multiple list service to produce detailed, highly visual and easy to interpret stats that clearly demonstrate market trends. But remember every neighborhood, block, street and home is unique and a computer cannot tell the full story. Give us a call or email to get your free in-depth analysis and thorough property evaluation.

DOWNLOAD MY MOBILE APP

Put every listing on the market in your pocket with my new updated SIR Mobile app, our GPS-enabled real estate search app for iPhone, Android and Blackberry.

Download Here

Thank you for your Support!

As our business is often referral based, we sincerely hope you will tell your friends, family, neighbors and co-workers about our service. We love referrals and appreciate your continued support.

Thank you Brad & Crystal
JENSEN AND COMPANY

Park City Nightly Rental

Lower Deer Valley

Fawngrove Condo

VRBO Listing #245533

Calendar of Events

April - May 2014

Calendar event dates are subject to change. Please contact each event directly for additional information on each event.

Bartenders' Cup

April 08, 2014

Location: Park City Mountain Resort