Sundance, World Cup, the 2024 Market
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Caroline Krumel | Associate Broker
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435-219-5298
caroline@slopestylerealty.com
SlopeStyleRealty.com
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2025 is off to a great start and some of winter's best events are right around the corner! In this email there is information on Sundance, the FIS Ski World Cup, and how the Park City Area Real Estate Market did in 2024. Andy found a great link about where to park and how to get to Sundance. He has also included some information on the FIS Ski World Cup. You will definitely see us there!
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http://String performing in the ascap room in front of a select lucky few.
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The 41st Sundance Film Festival kicks off in Park City and Salt Lake City from January 23 to February 2. This years festival features nearly 90 films. Following the in-person screenings, the festival will expand its reach through online availability starting January 30.
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The Park City Community Guide provides information staying up date on traffic, parking, accessibility, and transportation.
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The Printable Program Guide contains the full film lineup with showtimes and locations along with a breakdown of the competition categories.
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Free parking with free transit (every 15 minutes) to and from Old Town, from 6:40 am to 2:00 am.
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Deer Valley and Park City Resorts
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Deer Valley Snowpark Lodge Lots 5 & 6 and Park City Mountain Village will allow parking from 5:00 pm to 1 am after the resorts close. Free Park City Transit connects the resort to the Old Town Transit Center, from where you can walk or transfer buses.
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Highly Anticipated Films of Sundance 2025
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Instead of the usual AI generated short descriptions for films I have not seen, here's a few anticipated movie lists with AI generated short description for films they have not seen.
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From an adaptation of a hit Broadway musical starring Jennifer Lopez to a true-story drama about a missionary in danger, a scrappy look at why we love true-crime entertainment to docs on Sly Stone, house music and Pee-wee Herman — here’s what Rolling Stone is looking forward to seeing at Sundance 2025.
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Another January brings another Sundance Film Festival, where 87 feature films, six episodic projects, and more shorts will enter the fray to hopefully help shape the movie year that will be. A festival of that scope, with many first-time directors, can be tricky to navigate and parse, but IndieWire is here to help with 24 films we’re most anticipating.
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Hands down, one of our favorite events of the year is the FIS Ski World Cup at Deer Valley. Competition kicks off on 2/6 and culminates on 2/8. The highlight has to be the dual moguls on the last day with the competitors competing side by side. We hope to see you there!
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You may be wondering why we are featuring a gold dog with hearts for eyes as the market report section image. Well, we do whatever it takes to help you sell your home and that often means donating rugs, pillows, baskets, and even dog statues to the cause from our home. And this little guy made it into the staging pictures so he's part of the deal now!
So did the 2024 market go to the dogs or did it take Best of Show? Let's find out.
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“2024 was the year of the cash buyer, of all our transactions we only had three properties that utilized financing. Of course many of these "cash" buyers quickly turned around and did a portfolio loan or deferred financing. Because of these savvy buyers Andy and I are well versed in the myriad of financing options for "cash" purchases.2024 was the year of the cash buyer, of all our transactions we only had three properties that utilized financing. Of course many of these "cash" buyers quickly turned around and did a portfolio loan or deferred financing. Because of these savvy buyers Andy and I are well versed in the myriad of financing options for "cash" purchases.”
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Associate Broker
Summit Sotheby's International Realty
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Breaking the market into segments by price can be helpful when examining Park City trends. Specifically, we find it useful to look at the Entry Level (lower 25%), Mid Level, and Luxury Level (upper 25%) by price by year.
First, let's look at the price change per year for the Entry, Luxury levels and All Properties. Notice how the Entry and Luxury often move in opposite directions. Even the All Properties dotted curve in magenta bounces around.
For 2024, the average for all properties in the Park City Market were down 1.5%. We are looking at average prices here while above we were looking at median prices.
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Trends look much more stable when looking at the Mid Level. Notice how the Mid Level in green is more stable and the Top Level and Luxury Level show more volatility.
For 2024, the average property in the middle 50% of properties by price was up 2.4%. This is 3.9% higher than for all properties and a whopping 5.9% higher than the top 25% of property.
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Watch the Mid Level and the Average Annual Return over several years.
And chill on the volatility when viewing specific neighborhoods, property types, or even the price change for all properties for a given reporting period.
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Let's look at the top areas where people are buying in each segment in 2024.
These Park City neighborhoods and areas were chosen based on the number of sales within each of the Entry, Mid, and Luxury segments from above.
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Pioche Village leads the pack with 78 sales in the Entry Level (lower 25%). Most people are surprised to learn you can get entry level properties at a resort base area. Note that all of these sales are stacked condos.
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Savvy buyers know Hideout is the place to get big views for a Mid Level price. Most people are surprised to find Old Town and Canyons at the top of this list. This list is a mix of condos and houses.
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Promontory remains at the top of the Luxury Level (top 25%) in terms on sales count and will likely remain there for years to come. And checkout Old Town clocking in at the second spot and Tuhaye at number three. Canyons Village has a few townhomes in its count but otherwise all sales are houses.
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For fun, here's a list of the top areas for the top 10% of the Park City market.
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Copyright © 2024 Slope Style Realty, LLC, All rights reserved.
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