Importance of getting in early on new development

Posted by Dena Eytan on Tuesday, June 4th, 2019 at 7:53am.

Considering a condo in Upper Deer Valley or Empire Pass? 

There are a couple of new projects to choose from, and getting in early can pay off.

If you have been considering purchasing new development in Deer Valley, you need to realize two things. One, new development is nearing a close in Upper Deer Valley and Empire Pass and two, in order to take advantage of pricing, you need to get involved early.

The best way to address this is to look at the most recent buildings in both Upper Deer Valley and Empire Pass. Stein Eriksen Residences had 4 price increases from the release of the building/pre construction to the completion of the development. Goldener Hirsch is currently under construction in Upper Deer Valley and is already on their 4th price increase....and the building is not completed yet. Empire Residences has had 2 price increases since the release...it is currently under construction.
 
One Empire Pass, in The Village at Empire Pass, had 2 price increases. They started at a 5% discount at the initial launch and then went to approximately a 3% discount midstream. One Empire Pass is the newest completed building in The Village and we are already seeing resales sell in the building. This past winter 3 resales sold. Here you are able to see what they sold for initially and what they are selling for now. Currently, there are not any One Empire Pass residences on the market.
 
For additional information on new development in Deer Valley or any other real estate in Park City, contact us.

 

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