The COVID-19 pandemic has introduced a number of challenges and changes to the lives of people across the globe in 2020. The pandemic has in many ways altered the ways we work, play, live, and in some cases, call home. Relocation from urban landscapes to areas with ample space and leisurely lifestyles is on the rise across the Americas. Residents from population-dense areas like Southern California, the New York tri-state area, Chicago, and the Bay Area are seeking a better quality of life and plenty of space to safely enjoy family and friends.
One example of this is the recent rush is to Park City, Utah. Named as one of the “20 Prettiest Towns in the United States” by Forbes magazine. Many travel to Park City for the favorable ski weather and world-class mountain retreats, including the Deer Valley Resort and the Park City Mountain Resort. From the 2002 Winter Olympics to the Sundance Film Festival, and a number of other annual festivals and events, Park City is rich in activities and events for the whole family.
Besides being the go-to spot for winter sports, Park City has also become a premium residential haven. Recently, it has experienced an “unprecedented demand for luxury real estate” with July and August home sales doubling in comparison to last year with a total of $446 million in transactions comprised of 188 home sales.
Engel & Völkers license partner, Paul Benson, and his team have handled 61 transactions totaling $172 million in sales. “The significant increase in demand from families relocating is resulting in scarcity of luxury properties and driving prices up,” says Benson. But still, many families are being drawn to the area for the great schools, ample space, serene surroundings, and abundant privacy.
From its tranquil surroundings to the exciting real estate market, Park City is the ultimate luxury winter escape and now, primary home destination. To explore more of Park City, Utah, visit Engel and Völkers Park City shop for available listings and community information.
