Condos for Ski Enthusiasts
In Three Resort Locales

(See Corrections & Amplifications item below.)

Homes in popular ski locales can be pricey. In Colorado's Vail Village (a neighborhood in the town of Vail) for example, the average residential selling price was $2.75 million in October, according to the Vail Board of Realtors. Here, we take a look at three ski condos with asking prices under $1 million.

• Olympic Valley, Calif.
• Stowe, Vt.
• Park City, Utah

PLACE/PRICE: Olympic Valley, Calif./$724,900

PROPERTY TAX:* Approximately 1.07% of the purchase price

THE PROPERTY: Built in 2003, this 841-square-foot home has two bedrooms and two baths. The condo is located approximately 126 feet from a cable car that goes to the top of Squaw Valley USA, the site of the 1960 Olympic Games.

DESCRIPTION: The pedestrian village can be seen from the condo, which was built in 2003 and comes furnished. There are ceramic tile and inlaid stonework in the baths, slab-granite counters in the kitchen and a stone fireplace in the living room. A private balcony can be reached from both the living room and the master bedroom.

NOTABLE: The condo is expected to gross nearly $50,000 in rent this year, says listing agent Ellen Grace of Coldwell Banker Residential Brokerage. The buyer of the unit has the option of enrolling the home in an onsite property-management program, whose fee is 50% of the rent earned, she says. Comparable condos in the region can sell for more than $1 million, she reports, with this one being one of the least expensive units on the market. "My sellers are motivated," she explains. "They have other properties in the area and want to divest of this one." The condo is 189 miles from San Francisco, and many Olympic Valley buyers hail from the Bay Area, Ms. Grace says. The condo's amenities include use of a heated underground garage, plus housekeeping and 24-hour concierge services.

Note: *Current owner's payment

Sources: Coldwell Banker Residential Brokerage, Pall Spera Company Realtors, Keller Williams Park City Real Estate

-- Ms. Kim is a senior editor at RealEstateJournal.com.

Email your comments to lauren.kim@dowjones.com.

Corrections & Amplifications:
The story says that the Park City, Utah, residence sold in December. The home was under contract in December, but fell out of contract and is currently back on the market at the full asking price. The current owners of the Stowe, Vt., property paid $325,000, not $300,000, for the condo, as stated in the the story.