Shand Jaret Blog

Vail announces plan to connect PCMR & Canyons

By shandjaret
Dec 10, 2014

PCMR Canyons 2015 improvementsVail Releases Details of Improvement Plan Today, Vail Resorts shared their action and improvement plan with regards to Park City Mountain Resort and Canyons Resort. The plan includes more than $50 million in improvements that will take place in just one season, making it the most ambitions ski resort improvement strategy to date. The changes will create the largest ski resort in America by combining Park City Mountain Resort and Canyons Resort. Here are some specific improvements listed in Vail's comprehensive press release: The Interconnect Gondola. An eight-passenger, high-speed two-way gondola from the base of the existing Silverlode Lift at Park City to the Flatiron Lift at Canyons. The gondola will also have an unload at the top of Pine Cone Ridge to allow skiers and riders the opportunity to ski into Thaynes Canyons at Park City via gated ski access or to the Iron Mountain area at Canyons through new trails that will be created from Pine Cone Ridge.

Upgrade of King Con and Motherlode Lifts at Park City. The King Con Lift will be upgraded from a four-person to a six-person, high-speed detachable chairlift. The Motherlode Lift will be upgraded from a fixed-grip triple to a four-person, high-speed detachable chairlift.

New Snow Hut Restaurant, Upgrades to Summit House Restaurant at Park City and Expansion of Red Pine Lodge Restaurant at Canyons. The plan calls for building a completely new Snow Hut restaurant at the base of the Silverlode Lift and next to the Park City terminal for the Interconnect Gondola, with 500 indoor seats and a top-of-the-line kitchen and culinary experience. The plan also includes an upgrade to the "scramble" area inside the Summit House restaurant to improve the flow of diners and increase seats. At Canyons, the Red Pine Restaurant will be renovated to accommodate an additional 250 indoor seats.

Snowmaking and Other Improvements. The plan features additional snowmaking on two trails in the Iron Mountain area of Canyons which will become increasingly central ski terrain given its proximity to the Interconnect Gondola. The plan also includes almost $5 million of "catch up" maintenance and upgrades at Park City, given the lack of spending at the resort over the past few years.

"This comprehensive capital plan for Park City and Canyons is one of the most ambitious and impactful plans undertaken at any resort in industry history, transforming the experience at both resorts and creating the largest single ski resort in the U.S. with more than 7,300 acres of skiable terrain," said Blaise Carrig, president of the mountain division for Vail Resorts. He added, "The improvements offer skiers and riders more terrain and upgraded lifts to enhance the guest experience and reduce crowding and lift lines, new and upgraded restaurants, more snowmaking and an overall ‘touching up’ of all aspects of the resorts. The plan was based on feedback from guests and the local community as well as discussions with the senior operating teams at the two resorts. We look forward to continuing to work with the county and the city and are hopeful we can bring this plan to life for the 2015-2016 ski season."


Stein Eriksen Residences offer NEW Product in Deer Valley Silver Lake Area

By shandjaret
Mar 31, 2014

16 Homes, 38 Condominum residences...only one Stein Eriksen.  The Stein Eriksen Residences are a unique collaboration between the Stein Lodge management group and Regent Properties.  Located just below The Stag Lodge on Silver Dollar ski run, the Stein Eriksen Residences offer the first new development in the Silver Lake area of Deer Valley in 15 years.  Common amenities will include private restaurant, bar/lounge, fitness facility, infinity edge outdoor pool, kid's splash pool and ski valet.  Contact us for more information.

Juniper Landing at Canyons video

By shandjaret
Mar 26, 2014

Tracey and I have enjoyed representing  Juniper Landing, a townhome development at the base of the Canyons near the Waldorf Gondola.  Ski in-out and expansion will start in May 2014 with the addition of 5 more properties and the completion of 25 yd lap/recreation pool and patio.  With the completion of the Canyons Golf Course in September, Juniper Landing will be in the recreational epicenter of Park City!

Canyons Huge Activity This Summer

By shandjaret
Jul 24, 2013

Most of my entries this summer revolve around Canyons simply because of the news and activity surrounding the resort.  I took this panorama photo from the deck of a Juniper Landing townhome to give an idea of the construction in full swing.  Most of the improvements are in the Frostwood area in the lower base of Canyons.

1. Waldorf Astoria:  No new construction here, BUT with Vail's new operating agreement with Talisker this is now part of Vail's domain.

2. New traffic circle on Canyons Drive:  To facilitate traffic flow, this new circle on the main road will help with directing skier traffic to parking AND create an easy entrance into the Frostwood area.  A new road that connects Canyons with White Pine Canyon Rd will be part of this traffic circle.  Talisker purchased 80+ acres at the base of The Colony and will eventually create a new base area to access the south end of the resort easier.

3. Iron Mountain:  No new ski-able terrain here, but Iron Mountain and Pinecone Ridge will be the location of a possible link to Park City Mountain Resort.

4.  Base of Waldorf Gondola:  In conjunction with the construction of Wyndham (mentioned below), Canyons will construct a 3,000 SF building to house ticket sales, coffee shop, ski storage and lockers.  This location will also a include a ski "beach" area where skiers can transition from the mountain to a plaza.  The Frostwood traffic circle will also be modified to create an easier pick-up and drop-off area.

5.  Wyndham:  Mentioned in a earlier blog post, construction is well under way for a 168,000 SF Wyndham facility.

6&7.  The Canyons golf course is making major headroads to their expected completion at the end of 2014.  Construction can be seen here on two of the holes behind Juniper Landing.

canyons pano

Wyndham Construction at Canyons

By shandjaret
Jul 12, 2013

The $35 million Wyndham Facility at the base of the Canyons Ski Resort in Park City, Utah is under construction and will provide timeshare opportunity in the Frostwood area of the resort.  The building will be 163,828 square feet and include 86 units.

A ski in-out property located at the base of the Waldorf Gondola, the construction will also include a complete reworking of the Frostwood entry drive and traffic circle making a much cozier and village-type environment in Frostwood.  Frostwood also includes the Waldorf Astoria and Juniper Landing townhomes.

Wyndham under construction (picture below).  Canyons ski area in the background.  Miner's Club on the right, Grand Summit middle and Waldorf Gondola on the left.  The gondola serves as transport to the main Canyons base area.



Architect's rendering of finished product.



Talisker Relinquishes Lead Role at Canyons

By shandjaret
Jun 30, 2013

In the ongoing turn of events at Canyons Resort, Talisker has relinquished real estate and golf course development rights to their equity investor, Flera, LLC.  This news comes on the heals of Talisker's landmark lease agreement with Vail to run Canyons mountain operations.

With this move, Talisker can focus on the improvements and developments of their other real estate interests in Park City....Tuhaye and Red Cloud-Empire Pass.

Park Record article (click here)

The overall perception in the community is with the involvement of these other entities in Canyons operations and development, all parties (including Talisker) will be better positioned to focus on their area of expertise and have a greater opportunity to excel.

Tuhaye is a private golf course community located 10 minutes outside the limits of Park City.  It features a Mark O'Meara designed golf course, lots for single family homes and several options for developer-built cottages.  The long awaited golf clubhouse is in the early stages of construction and should be completed late 2014.

Red Cloud, located in the Empire Pass area of Deer Valley, is a private ski in-out home community.  Lot prices range from $3.0m to $5.0m.

Ranch Place 4 Bedroom, Park City

By shandjaret
Jun 19, 2013

Ranch Place is located in the Snyderville Basin area of Park City adjacent to the Northshore and Silver Spring developments.  Redstone, Newpark Town Center and Kimball Junction commercial areas are a short bike ride away and offer many shopping, dining, entertainment and recreating opportunities.

Available inventory in Ranch Place is very low, particularly in this price point of $600,000 to $900,000.

This 4 bedroom, 3000 square foot home backs-up to the Swaner Nature Preserve ensuring the the backyard will always be private and free from future development.  For more information on this property, click here.




Official Vail Press Announcement

By shandjaret
Jun 17, 2013

As we move forward after Vail's announcement to lease and operate Canyons Ski Area, we want to be accurate in passing information along that is accurate.  Below is one of Vail's press releases regarding their transition into Park City....


With 4,000 skiable acres, easy access to the town of Park City and $75 million in recent resort improvements, Canyons is a perfect complement to our collection of world-class mountain resorts,” said Rob Katz, chairman and chief executive officer of Vail Resorts. “I commend the Talisker and Canyons team for the outstanding work they have done to redevelop the resort, which is reflected in a top 10 ranking by SKI Magazine and #4 ranking by Outside Magazine. We look forward to building on that momentum and including Canyons in our industry-leading season pass products, which next season will offer guests access to Colorado, Tahoe and Utah on one season pass, a first in ski industry history. We will also leverage our guest database and domestic and international sales and marketing efforts to continue to drive Canyons’ growth. Talisker has an outstanding track record of high-end resort development and we look forward to working together to create something truly extraordinary with Talisker’s four million square feet of remaining approved residential and commercial density at Canyons.”

New Listing in Park Meadows, 3239 American Saddler Dr, Park City

By shandjaret
Jun 12, 2013


With the recent decline in Park Meadows inventory in Park City, a listing in the Risner Ridge subdivision has become a scarce commodity.  3239 American Saddler is a new listing that offers 5 bedrooms, multiple family living areas, private backyard and access to everything in Park City.  The Park City MARC (rec center), Park Meadows CC, schools, Round Valley trails and Old Town are short walk or bike ride away.  $1,649,000 is the list price.  5 bedrooms, 4 baths, 5200 square feet.


hart front house

Park City MLS link to this listing

Virtual Tour of this listing




Park City Q1 Real Estate Statistics

By shandjaret
Jun 05, 2013

Park City, Utah - April 26, 2013 – Park City Board of REALTORS® just released statistics for the first quarter of 2013 showing the number of sales are up 17% from the first quarter of 2012. The sales dollar volume is up 28% over the same time-period last year, climbing from $239 million in Q1 of 2012 to over $306 million for Q1 of 2013. With 402 closed sales already this year, this is the best Q1 since 2007.

Inventory The current inventory of active listings in the greater Park City area is lower than it has been since 2006.  As of April 1st, there has been a 21% decrease in listings since April 1st of 2012. The current number of listings is down 47% since the high mark in July, 2008.

Distressed Sales Foreclosures have become a less significant part of our market.  Distressed properties (foreclosures and short sales) now make up only three percent of active listings and accounted for only 13% of sold properties in Q1-- down from 23% in Q1 of 2012.

Single-Family Homes The number of sales for single family homes in all areas in Q1 increased 18% compared to Q1 of 2012, and the median sales price rose 30% to $619,500.  The median price for single family homes in the Snyderville Basin and Jordanelle area was up 28% reaching $634,500 from Q1 of last year, though down slightly from the year-end 2012 figure of $649,000.  The median price of a home within the city limits for the first quarter was $1,312,500, up 12% from the first quarter of 2012 and up 22% from the year-end 2012 figure.

Condominiums Overall, condominium sales decreased 3% from Q1 of 2012; however, the number of sales inside the city limits was up 21%. The median sales price within the Park City limits was $639,000, which is down 18% from the first quarter of 2012—though well above the 2012 year-end figure of $522,500.  While the number of sales in the Snyderville Basin and Jordanelle area was down 23% compared to the first quarter of 2012, the median price for a condo was $334,128, which is up 22% over the first quarter of 2012 and up 8% over the year end 2012 figure.

Vacant Land Vacant land sales increased 45% in the first quarter of 2013 with 74 transactions compared to 51 transactions in 2012.  Lot sales increased in both the city limits, up six sales (75%), and in the Snyderville Basin and Jordanelle areas, up 19 sales (73%).

The median price of a vacant lot, for all areas, fell 9% in the first quarter of 2013, dropping to $182,150 from $200,000 in 2012.  Lot prices within the city limits climbed 10% from $468,000 in 2012 to $514,500 in 2013.  Median lot prices in the Snyderville Basin and Jordanelle areas dropped from $237,000 in 2012 to $180,000 in 2013, a 24% decrease.  “These lower prices will not be sustained and prices through the rest of the year should rise as there are far fewer lower priced lots on the market. Prices overall, although higher, are still a great value,” Seltenrich said.

Looking Ahead Buyer activity continues to be strong, and historically sales in the first quarter of the year are slower than the remainder of the year.  This means that competition for certain properties, especially single family homes under $500,000, will be harder to find. Though, with interest rates remaining historically low, today’s buyer has 43% more purchasing power than they did in 2006, as reported by Rick Klein of Wells Fargo Home Mortgage.

The low inventory is increasing the pressure on price. In some market segments, the absorption rate for a new listing is as low as 1.8 months on the market, while in others it is 144 months. There are still specific areas within the Park City market that are slower to respond to price increase and demand; therefore, opportunity still exists for good buys.



Colony at White Pine Canyon, Canyons Resort, Park City

By shandjaret
Jun 04, 2013

The Colony is a private, gated community located within the Canyons Ski Resort (now operated by Vail Resorts).  Over 270 homesites are 5+ acres and owners are able to build a main residence as well as a guest house.  All properties have direct access to the Canyons ski slopes and enjoy the advantages of a secure community in a true alpine setting.

Over 170 lots have been sold and approximately 105 homes have been built ranging in size from 5,000 to 33,000 square feet.  The developer, Iron Mountain Associates, has plans to construct a private ski in-out day lodge/clubhouse for Colony owners.  New lifts in the development will continue to open new terrain and keep the Colony positioned as one of the premier ski communities in North America.

The Colony at White Pine Canyon

Our listing at 177 White Pine Canyon Rd is offered at $5,870,000 and includes 7700 square feet of fabulous mountain contemporary living with direct access to the Pipe Dream ski run at Canyons.  Located in a beautiful aspen setting with 5 bedrooms (2 of which are bunk rooms), outdoor living, fitness room, 5 fireplaces and an open living configuration for family gatherings.  All patio surfaces and driveway are heated for easy snow removal.


177 White Pine Canyon Rd located in The Colony, Canyons Ski Resort

177 exterior medium

Vail Resorts to Operate Canyons Resort in Park City, UT

By shandjaret
Jun 03, 2013

Vail has signed a 50 year lease (with options to extend) with Talisker to operate the Canyons Resort.  Their responsibility will be mountain operations while Talisker focuses on the continued development of their real estate holdings which include Tuhaye (private golf community, Canyons base area and Red Cloud in Deer Valley).

  Recently investing more than $75 million, Talisker has made many improvements to the operations of Canyons and no doubt Vail will bring an added level of credibility and expertise to the resort.  This is good for Canyons and the overall skiing environment in Park City and Utah.  Canyons will be part of the Vail "Epic" ski pass that includes access to Vail, Beaver Creek, Heavenly Valley, Kirkwood, Breckenridge, Northstar, Keystone and others.

  With the completion of the newly redesigned and expanded Canyons golf course is expected in mid 2014, the resort will be very attractive for vacation property and primary home owners.  Wyndam Resorts has broken ground at the base of the Waldorf Gondola and will join Hyatt, Waldorf Astoria and Hilton and major properties at the base.

Tracey and I represent the developer of Juniper Landing townhomes & Westgate Resorts (whole ownership) and can provide information on all properties in the Canyons base area.


PMCC pano


2012 Year-End Park City Real Estate Statistics

By shandjaret
Apr 07, 2013

The following is a wrap up of our 2012 sales year citing data from our MLS and Rick Klein, a Wells Fargo Private Mortgage banker in Park City.  Like all real estate, specific trends are unique to each neighborhood.  If you have a question about a particular segment of our market or area, please let me know.
The quick report:
Across all property types (2012 vs 2011) for Greater Park City:  Inventory is down 12.3%.  Sales volume is up 13.9%.  Average sale price is up 1.3%
The year-end 2012 statistical report released by the Park City Board of REALTORS® indicates an increase in the number of sales and total dollar volume, with inventory the lowest it has been in over six years. It also shows a slight gain in median prices compared to 2011. The total volume of real estate sold for the entire market area (Summit and Wasatch Counties) reached $1,240,542,783 in 2012 — a 15% increase over 2011.


The number of sales continued to climb in 2012 with a nine percent increase over 2011 in all property types combined, reaching 1,817 total transactions. This is up 61% over the low point in 2009.  The number of sales now surpasses the early 2000’s and is approaching the number of sales necessary to be termed a more balanced market. Sales for the year were very strong after the first quarter of 2012. Each of the last three quarters averaged over 150 sales more than the first quarter. Quarter Four is up 28% compared to the fourth quarter of 2011.

Inventory Levels

With only 1,879 active listings on the market for 2012 compared to 2,146 in 2011, the inventory level has decreased by 12%. The greater Park City market has consistently seen double digit yearly decreases in the number of properties for sale since the high point of listings on the market in 2009. Based on an average of the past three months’ sales, this inventory represents about a 10 month supply -- excluding the lots, it is at an eight month supply for houses and condominiums. This is the lowest housing supply since the Park City Board of REALTORS® began systematically tracking the monthly active/pended listings in January of 2007.

Median single family home prices continued to rise in most areas and had a 5% increase overall reaching $548,107. The median price for condos also increased 7% to a median price of $343,000 for the entire market area.  Vacant lots had the best performance in 2012 with a 22% increase over 2011 reaching $213,750.

Within the Park City Limits area, median single family home prices show an 8% increase over last year reaching $1,077,500. Condos are down 3% to $522,500 and vacant land is down 2% at $475,000. In contrast, within the Snyderville Basin and Jordanelle areas, the median price for a single family home is down five percent to $649,000, while condos are up 14% to $308,543, and vacant lots are up 51% to $249,500 over 2011. Significantly, even with an increase in the median lot price, the number of sales in 2012 was the same as in 2011, showing that though lots have gone up in price, the number of sales has not decreased.

Sales volume continues to increase steadily from 2009.
Annual Pended Sales
Lower inventory levels should put pressure on pricing.
Absorption Rates
National statistic
Price stabilization for the past 24 months...
Median Prices

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