Those of you who have been watching the Deer Valley condo market for years will probably agree...
This has without a doubt been one of the most interesting weeks we have ever experienced in Deer Valley.
Silver Strike Deer Valley Condo Auction
On Tuesday, the developers of Silver Strike Lodge announced that they will be auctioning off 8 ski-in/ski-out condos in the Village at Empire Pass.
This is the most significant auction of Deer Valley real estate in about 20 years.
When you saw this headline, did you jump to the conclusion that the real estate market conditions in Deer Valley can't be that much different than Detroit?
Au contraire, mon Frère!
St. Regis Deer Valley Condo Sales
Today, 9 units at the St. Regis Resort & Residences, Deer Crest were published across the Park City MLS as closed.
Another 50 units are under contract, and are expected to close within the next 30 days, totaling over $100 million.
And get this...each of the properties sold for 100% of list price ranging from $1044 to $1768 per square foot.
In fact, the 4 bedroom Residence at the St. Regis was the most expensive condo per square foot to have sold in Deer Valley--EVER!
How do you reconcile these two contradictory expressions of the Deer Valley market conditions?