Deer Valley Homes: Ski Access Preserves Value
November 16th, 2008 Categories: Deer Valley®, Real Estate, Statistics & Trends
As real estate markets around the country have deteriorated along with the global equities markets, there is a bit of good news for some resort property owners…
Do Deer Valley Home Owners With Ski-In/Ski-Out Access Have Down-side Protection?
This chart demonstrates the importance of ski access to property values in Deer Valley, Utah.
The average sales price of all homes in Deer Valley fell 18.05% to $3,245,576 from 2007 to 2008 (through 10/31/08).
The average sales price of ski-in/ski-out homes increased 12.48% to $6,235,958 during the same period.
You can see this divergence on the chart from 2007-2008.
It could be worse for homes without ski-in/ski-out access.
Since the inclusion of ski-in/ski-out homes in the “All Deer Valley Areas” category boosts the average sales price, the market for homes without ski access may have softened even more than the chart displays.
Based on this chart, now could be an excellent time to hunt for deals in Lower Deer Valley, but don’t expect to see substantial declines in Upper Deer Valley Homes or Homes in Empire Pass.
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