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The wealth in Park City, Utah is exploding. If that goes on the market, probably 3 million. 2019, I was looking at a house up the street for 750, and now it's probably worth 5 mil. The once quiet ski town is now home to some of the most valuable real estate in America. This is some of the most expensive price per square foot in America. We went to Park City to understand how skiing, the Olympics, and COVID transformed it into a billionaire hub. How much will like some of your bigger clients spend?
One of them spent $4.9 million this year. You do kind of have to have a little bit of money to afford handcrafted cuz our hats start at 500. Um, our boots start at 1,000. Got a glimpse of that wealth with a tour of a $10 million house. So, come with us to the richest town in Utah for our latest episode in the richest series. The road to Park City winds through the Wasatch Mountains. It's a stunning drive, relatively quick from Salt Lake City. The weather was perfect when we arrived in town, and our first stop was the $10 million house. So, when people think of the richest
place in America, they think of the big ski homes, especially in Park City, but kind of a hidden gem that not a lot of people know about in Park City is Old Town. This is some of the most expensive price per square foot in America, especially in the Wild West. There's really nothing like it because we have the one of the longest historic Main Street, just walking distance from all of these neighborhoods. So, you're talking a 100-year-old home that is listed on the market for $10 million, and that's probably on the low end. When did this place boom with real estate? Park City was a mining town. Actually, my great-great-grandfather was a miner here, so it actually started kind of early 1800s and by early 1900s it was
pretty formed. Still no roads, but they hit the silver boom. As Chloe said, Park City used to be a mining town. When the industry died in the mid-1900s, it needed something else and that's when skiing came in. It really transformed into one of the most beloved quaint ski towns for a little while. I think 70s, 80s, 90s was really special to be here. You could pick up property for relatively cheap and live this amazing life. Then the Olympics happened and everything changed. In 2002, the Winter Olympics came to Salt Lake City and it put Park City on the map. And in Park City, people were here from around the world.
Mitt Romney, who actually has a place in Park City, ran the operation. Park City became a global skiing destination. Today many celebrities own homes there like Will Smith and Post Malone. Park City was also where Gwyneth Paltrow stayed during her infamous ski trial. I was pretty upset, right? You're small but mighty. Growing up here, I've lived here for 30 years. I moved here in 1999 and basically during all you know, during the summer it was dead and it was great because we had it all to ourselves. That is no longer the case. So, like I said, it just it keeps getting busier around here and now summer time is almost just as busy as ski season. Okay, so the one we're touring is one of the most unique
homes in Old Town. We're going to meet my friend Sandra. This is his listing. Oh, hi Yarrow. Welcome. Any desirable home here in Park City needs a few key amenities. But you're going to need a hot tub, you're going to need a sauna. If you can get it, a little rooftop balcony action. Cuz remember everything on this street used to be like a dilapidated mine shack. And so to see what they become today is really cool and it's what makes them so hard to get. I mean, this to have this kind of space. It's funny because anywhere else in the world you'd be like, "Oh my gosh, look at this tiny street and everyone's on top of each other." But, that's kind of the point of Old Town.
How much would a house like this have cost, say, 25 years ago? Maybe a million. Yeah, million and a half to absolute max. I mean, in the '90s you could buy properties on Main Street for like 300,000. Pretty much on every single mountain around you, you have a ski run. You're right in the middle of everything. You can walk 2 minutes up the road. You're right at the highway. distillery here on Main Street. And this is really the beating heart of Park City. So, it's not the super flashy enormous ski house, but it's actually
something kind of even more unique. Now, this house has what Gen Z might call a sleeper build. It's actually two houses combined, resulting in 5,000 square feet. I think I prefer this side. It's amazing. It's so charming. So, because all of these homes are historic, to get something even redone is uh probably a 3- 4-year process with the city. After the tour, Chloe took us downtown. But yeah, so it's interesting you have this house on the street here. It's like not livable. But if that goes on the market, probably 3 million because of the land and the location.
This one just sold. This is barely 1,000 square feet right here. This home just sold for 2 million. I don't know what this one is. I think it's 6 or 7 million for this barn. It is historic, so it's a tough one because you can't change the structure at all. This home belonged to Well, it belongs still to the Block family, Ken Block and Lucy, his wife. They're amazing locals. Everybody loves them. And it was really, really sad for the whole town basically when Ken passed away a couple years ago. But this home they are selling, it's actually three homes combined. So, we were just in two homes combined, three, and it's $20 million.
The home prices were mind-boggling. But believe it or not, this isn't even the most expensive neighborhood or even top two. So, one thing about Park City is there are gates everywhere. People like their privacy, and guess what? If that's you online, you need to try out Incogni. Incogni is essentially a gate, but for the digital world. If you're getting all these unwanted spam calls, these annoying texts, if your data is out there online, Incogni will give you the privacy you deserve. If you Google your name and your home city, you'll see a scary glimpse of what's online about you. And that's because data brokers and other harmful sites collect, sell, and publish your information. But, Incogni
removes your data on autopilot, and it gives you actionable insights to stay private. I actually use Incogni for this reason. I get way fewer spam calls now, and I have the security of knowing that I can browse the internet without fear of being hacked. As Incogni says, they can't harm you if they can't find you. Use code off an annual plan. Thank you, Incogni, for sponsoring this video. Now, back to Park City. Okay, so on top of that mountain is one of the more exclusive communities in Park City. It's called the Bald Eagle Club, and homes there go for up to $39 million, starting around $10 million. We can't get up there flying the drone so you can see it, but just unbelievable real estate, unbelievable views.
Now, the even crazier homes are in a neighborhood called The Colony. This is the most exclusive enclave of wealth in town. And thanks to Engel & Völkers, the firm where Chloe and Sandra work, we are showing you some footage of homes there. But not every mansion is behind a gate. Bunch of older mansions like these in Deer Valley, which still fetch north of $10 million. So, these are some of the older homes in Park City. And everything on this street is going to go for about 10 to 15 million dollars. This home behind us is worth an estimated $15.6 million. It's almost 12,000 square feet and it's just beautiful. This house here is worth an estimated $20 million. And if these interior shots of the house look
familiar, it's because it was Mary Swanson's house in Dumb and Dumber. Hi. Now, after seeing all this extraordinary wealth, it was time for us to go into town and speak with residents and workers. We actually originated in Salina, Utah back in 1876 and it's the same family-owned company for six generations. We filmed Well, they filmed the first three seasons in Park City and so they asked us to outfit them. So, we did like boots, belts, buckles, chaps, some other things for the first three officially. And then we've done a few other Western shows as well, kind of like little tidbits here and there. Who are your typical clients?
I would say retired businessmen, wannabe cowboys that have seen Yellowstone from different countries cuz it's huge in other countries to watch that show. You do kind of have to have a little bit of money to afford handcrafted cuz our hats start at 500. Chinchilla is the nicest that we do. It's 3,500. Our boots start at 1,000. So, it's It's a little bit of a step up from Lucchese and Tecovas, but because of the history and just how old this company is, people appreciate that type of craftsmanship. So, Park City, what's it like for someone who's never been? I mean, it's beautiful. It's changed a lot the past few even just the past 6 years has changed tremendously. But, it's an old mining town, so there's a lot of history here. My colleague has
been here, born and raised. His father and grandfather were both miners here, so I'd hear a lot about how it's changed from him. I mean, I've lived here for many, many, many years, but I haven't seen the change like he has. And just more and more people are coming. A lot of money? Yes, very much so. Yeah. The real estate's crazy here. Oh, yeah. I mean, in 2019, I was looking at a house up the street for 750, now it's probably worth 5 mil. 2034, it will be the Winter Olympic site again. Wow. So, it's nice to be here. It's like a small place. A lot of galleries, restaurants.
A ton of them. Yeah. I've like never seen more galleries in one town in my life. I found an incredible job. I manage seven galleries here on Main Street. No way. Yeah, and yeah, I just feel blessed. Gallery central. Yeah, yeah, it is. There's like 22 on this street. And what else? Yeah, yeah. And we have seven of them. Like, how much will like some of your bigger clients spend or do business with you? One of them spent $4.9 million this year.
This year? This year, since March. You're kidding me. That's an outlier, for sure. Usually 3 to 500,000, you know. amazing. Yeah, it is incredible. But tech money here, finance money, oil? Everything. All of those. Tech, finance, oil, all of them. Those are all my clients and political. Wow. So, yeah. Like That's amazing. You're, by the way, this outfit's unbelievable. I can tell you're running a number of galleries. Like, you got that out, you get to take some liberties, you know?
I wear a bow tie. Anybody wears a bow tie, it's like, "Hey, that guy's fun, you know?" So, that's the whole idea with ours is like, creating What our core philosophy is to create a profound art experience that sparks an engaged life's masterpiece. What we've noticed is many times you'll go in a gallery and you won't get this like personal connection. And so, I tell each one of my consultants, like, "Get your got to put on a performance. We want them to remember us in their trip. It to be the high watermark of their trip." And it happens pretty regularly. Lot of local artists. Utah artists, probably about 50% Utah artists. Spence Steel, our best-selling artist, and he is in
southern Utah. And he kind of spoofs the masters. That's his jam. Skiing. How have the a lot of people became controversial last few years about the passes or just become a lot more popular? Do you notice that change? For sure, for sure. So, the passes bring people up from other parts of the area of Utah, like Salt Lake and the surrounding areas. And those people are like myself, they're going to go and ski and leave. They're not going to come on Main Street buy a painting and a leather coat and caviar and champagne. You know, they're like in and out. They're pass holders. So, it's made the resorts a lot more crowded, and it's made the roads a lot more Obviously, big LDS community in Provo. Here in Park City, is it LDS majority or
No, gosh, no. Not even. No, there's I don't think there's a big showing at all. It's more of a kind of sin city. Um, yeah. I mean, there are LDS people here. There is an LDS little church across from the high school that I see the kids going across. So, there's enough that they have that little, you know, satellite church. Um, but no, it's not known for being an LDS hub. Walking around the old town neighborhood, we then ran into two women who explained to us why Park City is also known as Bark City. So, this is Stella and Stanley. Let me get Stanley on a leash.
Hello there. Yes. Um, we lived in Arizona and then moved overseas and then moved here. We're for 4 years and then moved to California and then came back and now we've been back for seven. She owns a company and she does all of our dog walking and sitting and We literally stopped by the perfect house then. Yes, you did. It's literally what she does for a living. And these are her leashes. She owns this company called Yeah, so this is Stanley Tucci.
I love that. is Stella and we are watching Stella. I think they call it Bark City for a number of reasons. Number one, a lot of people have dogs. Number two, it is very dog friendly in terms of the number of off-leash trails. We were actually with a trainer from Salt Lake City and she has all of these dogs um trained on e-collar. So, and that basically, as long as your dog is under voice control, wearing the e-collar and you have a physical leash, you can have your dog off-leash across hundreds of acres of trail. If we've got a big pack, we're obviously moving them off the trails for bikers and stuff. And we play this kind of in our head game called um pet walking bingo, where like someone will always say,
um "Hey, thanks guys." or "You've got your hands full." or "Is that a horse or a dog?" And so there's just this really nice sharing spirit here in this town. I hope it never loses it um because it makes it very special. And then on Halloween, they do a huge parade for just the dogs on Main Street. All the dogs dress up. Everybody walks their dog on Main Street. So it's Yeah, it's It's all about the dogs. Yes. Yeah, so it's a great town to live in. Um we've had so many new people come to town and I came from a resort town in New Zealand. And you know, everybody kind of complains that oh, these new people coming in and they're ruining it
and stuff. That is such rubbish. It's just more tapestries. More threads in the tapestry. And we have, you know, friends from all over the US here. And you have to be very careful if you ever invite a kiwi to come and stay with you, we will. But you can't stop the growth. I mean, you know, so And I, you know, and I think if you can see it and Arlo, please. He's a redneck. Um if you can see it as, you know, these are all just people adding to the melting pot. And cuz I guess New Zealand itself is a melting pot. So that's Arlo, come here.
Well, Leaving Park City, we kept driving south to Provo, where we interviewed BYU students for our next video on the young marriage boom in the area. It was a very different side of Utah than the one we just saw. But Park City hardly even felt like Utah, with its own luxurious bubble floating in the mountains. And one we quite enjoyed our time in, and hope you did, too. Thank you so much for watching, and a special thanks to Chloe and Sandra for showing us around their beautiful town.
