Progress on Deer Valley's New Sister Resort

[BenedictGomez]

I see your $1.975 million 790 square foot condo unit and raise you this new gem. A one billion dollar development in that area named "Velvære" and is pitched as:

The fact that the spelling of that place isn't a computer glitch is absolutely insipid.

I've got another good "Lifestyles of the Rich and Famous" for you.

This place just went pending in Park City for $5M a few days ago. It has it's own "elevator tower" that takes you from your place & directly onto a ski trail. It literally borders PCMR so I guess it was allowed.

 

[4aprice]

Anecdotally looks like a good bit of unsold inventory too. The new community in Park City sandwiched by 40/80 I know they sold a ton of houses to a company that specifically rents single family homes. Bringing the thread back to "new" Deer Valley, I think it's insane the shoebox condos they're asking almost $2M for. I dont know where all these millionaires come from!

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I so agree with this, where are they coming from. It's not only Utah and PC. Winter Park and Fraser Colorado are in a building boom meanwhile sales of existing homes and condos are slowing. Our condo has more square footage then that one, wish I could get 1.9 for it.

 

[BenedictGomez]

I so agree with this, where are they coming from. It's not only Utah and PC. Winter Park and Fraser Colorado are in a building boom meanwhile sales of existing homes and condos are slowing.

Same here. Existing homes just sit while new homes are selling.

It's largely because new homes are actually cheaper than existing (i.e. "used) homes, which is not normal but happening all over America & IMHO is a warning sign.