Park City Golf Development 'Victory Ranch' Sold

A Chicago based developer just closed on their acquisition of the Victory Ranch development from Wells Fargo Bank.

This is a significant development in the Park City real estate marketplace.  We have been watching this with keen interest.  

Victory Ranch offers some of the best private Fly Fishing in the Park City area, and the river, combined with the spectacular golf course, will provide Victory Ranch property owners with an enviable package of lifestyle amenities!

The following article is an excerpt from the Salt Lake Tribune...

Chicago-based firm buys Utah's Victory Ranch development

| The Salt Lake Tribune

A luxury home development that spans almost 6,500 acres near Park City has changed…

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We just reviewed the 2012 first quarter Park City real estate market stats, with no real surprises.  

Existing market recovery trends continued.  Here are some of the highlights:

  • The number of active property listings is down
  • The number of pending sales is up
  • The 6 andd 12 month moving averages for # of properties sold is stable
  • Distress sales are a smaller percentage of the closed transactions...down to 19.1%
  • Distress sales represent only 8.5% of the total inventory for sale
  • The number of "Notices of Default" incresed in Summit County but decreased in Wasatch County in Q1

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You can read the complete first quarter 2012 Park City Market Report here:

http://www.parkcityrealestateguide.com/documents/2012_Q1_PCMLS_Market_Stats.pdf

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