Available Home Inventory in The Colony Reduced by 42.1% in Last 120 days!
Warning: Don't assume the "MORE BAD NEWS..." you see in the national media holds true in all micro-markets.
We just finished crunching the numbers for some of Park City, Utah's hottest luxury neighborhoods, and the reduction in available luxury ski homes is staggering. Yes--you heard that correctly.
There's now a real scarcity of well-priced properties in the luxury market between $3-6 million.
Take The Colony at White Pine Canyon, for instance. At the beginning of the 2010/11 ski season in November 2010, there were 19 homes on the market. Fast forward a mere 120 days, and 8 pending/closed sales later, there are only 11 homes left. Don't take our word for it...see for yourself:
Hollywood Heavy-Hitter Buys Colony Home in Private Sale
We hope you paid attention to the math and noticed there was a missing sale...there was an additional closed sale of an unlisted property to an Hollywood A-List Couple.
We won't blow their cover here on the blog, but if you come to Park City we'll clue you in...
What's currently available for sale in The Colony at White Pine Canyon?
As you'll see above, there are only a couple of options left under $5 million. One is debt-free and motivated to sell. The other is still living in fantasy-land regarding the value of their property in today's marketplace. It is over-encumbered, and could be headed towards a Trustee's foreclosure sale.
Hint: call us immediately if you're looking for a home in The Colony and we'll catch you up to speed on this developing opportunity...
Click here to search for all Colony Homes For Sale in Park City Utah
Promontory Real Estate Update: Best Deals Going...going...almost gone!