Deer Valley Real Estate Statistics for 2019-2023

KEYPOINTS: A Deer Valley Resort Market Update for Real Estate where we will review the sales data for Deer Valley homes and condos for 2019 through the end of 2022.  This data complements the in-depth Deer Valley Resort Real Estate page, showing every listing for sale from every Deer Valley broker on the Park City MLS.  However, we have chosen to post the stats on our blog because the graphs are not mobile-friendly.

Deer Valley Resort Market Trends: Mid-2023 Update

Welcome to our mid-2023 update on the Deer Valley Resort real estate market!  As experienced real estate agents with the Carlson Real Estate Team, boasting two decades of sales writing expertise and ten years of SEO knowledge, we are here to provide you with the latest market trends and insights.  In this article, we'll delve into the current state of the Deer Valley real estate market and discuss the challenges and opportunities it presents to both buyers and sellers.

Limited Inventory Challenges Buyers:

The Deer Valley real estate market, has been experiencing a notable tightening trend, leading to a scarcity of available properties.  Sales have significantly declined compared to the last decade, leaving many prospective buyers frustrated due to the limited inventory.  As of this writing, only 16 Deer Valley ski-in-ski-out properties are available for sale in the entire Deer Valley area.

High Demand for Well-Priced Properties:

The scarcity of inventory has created a highly competitive environment in the market, particularly for well-priced properties.  Buyers fortunate enough to find suitable options act swiftly to secure their dream homes.  The demand for reasonably priced properties remains robust, and they continue to sell relatively quickly.

Detached Single-Family Homes:

Currently, there are nine detached single-family homes on the market in Deer Valley.  These homes offer a range of luxurious options to suit various preferences and budgets.  Prices for these remarkable properties range from $5,450,000 to $27,300,000, ensuring there is something for every discerning buyer.

Condominiums: A Convenient Choice

Deer Valley also offers an array of condominiums, providing residents with a convenient and luxurious lifestyle.  Presently, there are 19 condominiums available for sale, with prices ranging from $1,275,000 to $6,500,000.  These elegant units cater to a wide range of budgets while offering easy access to the resort's amenities and ski slopes.

Future Prospects: New Listings on the Horizon

While the current market conditions may present challenges for buyers, we are excited to share that we will be introducing some remarkable ski-in-ski-out homes for sale in Deer Valley soon.  Whether you are considering buying or selling a property in Deer Valley, we encourage you to contact Derrik Carlson, our expert real estate agent, who can provide invaluable guidance and assistance.

Conclusion for Mid-Year Update:

The Deer Valley Resort real estate market is witnessing a scarcity of available properties, resulting in a highly competitive environment for buyers.  Well-priced properties continue to attract eager buyers and sell quickly.  With limited inventory and strong demand for ski-in-ski-out homes and luxurious condominiums, it's crucial to have an experienced real estate agent like Derrik Carlson by your side.  Contact Derrik today to explore the exciting opportunities in the Deer Valley real estate market and secure your dream property.

Deer Valley Market Trends from Jan 2019 to December 2022

A Brief of 2019 through 2022: 2019 felt like a typical year selling Deer Valley real estate.  I was on track for a banner year until the end of the year when buyers started whispering about COVID-19 and how it would change the market.  Towards the end of the year, Deer Valley buyers had hit the pause button, and by early 2020, the lockdowns had begun.  You can read more about this period on our Park City Real Estate Trends from the real estate boom of 2020 to today.

The market began to move towards the end of the first quarter of 2020, and we were off to the races selling real estate.  At this time, we had no idea that Deer Valley inventory would be stripped, and there was a point where Derrik had 75% of the properties under contract in Lower Deer Valley.  So we essentially sold out of the real estate by the end of 2020, which pulled the 2021 numbers down by 46%.

In 2021 and 2022, we sent letters to owners, called past clients, and did anything we could to find buyer inventory.  Although the market started to relax in mid-2022, inventory was still tight.  Even towards the end of the year, we sent letters to a specific neighborhood in Upper Deer Valley to ask owners to see if they wanted to sell their property.  We continue to see a considerable demand for ski-in-ski-out properties, and some argue that Deer Valley real estate is still increasing in value. 

Heading into 2023, we were in a more traditional balanced market.  However, if you are searching for a ski-in-ski-out home, you'll need to act quickly when the property hits the market or contact us to find an off-market home.

The Real Estate Statistics graphs below combine the four areas of Deer Valley.  The four areas of Deer Valley Resort Real Estate are as follows:

  1. UPPER DEER VALLEY comprises 35 subdivisions in the Silver Lake area, close to various restaurants, shops, and renowned lodges.  In addition, many properties have premiere ski access to America's top mountain ski resorts.
  2. LOWER DEER VALLEY includes 30 subdivisions at the base of Deer Valley Resort.  This area of DV provides excellent views, and it is easy to walk to downtown Park City.  This area of Deer Valley offers single-family homes as well as condos.
  3. DEER CREST offers ski-in-ski-out access for nearly all the properties for sale, excluding Snowtop. Homes and condos offer stunning views of Bald Mountain and Jordanelle Reservoir with easy access to Park City and the Salt Lake City International Airport.  Contact us to discuss new development opportunities for condos in Deer Crest.
  4. EMPIRE PASS is a master-planned community and the newest neighborhood in the Deer Valley resort area.  Aside from ski homes, Empire Pass offers the Talisker membership that provides access to the Talisker Club, shuttle service, and amenities in Tuhaye, including golf.

Deer Valley Single Family Home Stats 

Sales Data for Deer Valley Single Family Homes Year over Year Comparison Report - 12 Month Rolling Average thru Q4-2022 for condo sales

Lower Deer Valley

#Sold % Chg Volume % Chg Median % Chg
2019 13   32,150,002   2,250,000  
2020 28 115% 74,859,141 133% 2,525,000 12%
2021 15 -46% 53,673,275 -28% 3,495,000 38%
2022 8 -47% 35,210,000 -34% 4,500,000 29%

Deer Crest

Qty Sold % Chg Volume % Chg Median % Chg
2019 5   45,910,000   6,810,000  
2020 12 140% 78,609,833 71% 6,438,900 -5%
2021 8 -33% 56,213,384 -28% 6,650,000 3%
2022 2 -75% 25,900,000 -54% 12,950,000 95%

Upper Deer Valley

Qty Sold % Chg Volume % Chg Median % Chg
2019 22   110,114,858   4,450,000  
2020 22 0% 105,665,666 -4% 4,612,500 4%
2021 22 0% 138,219,355 31% 5,980,000 30%
2022 14 -36% 106,073,000 -23% 6,450,000 8%

Empire Pass

Qty Sold % Chg Volume % Chg Median % Chg
2019 0   0   0  
2020 6   35,565,000   5,850,000  
2021 8 33% 80,725,000 127% 8,875,000 52%
2022 2 -75% 16,200,000 -80% 8,100,000 -9%

Deer Valley Condo Sales Stats

Deer Valley Single Condo Sales Trends: 2019-2022: Below is a Year over Year Comparison Report - 12 Month Rolling Average thru Q4-2022 for condo sales.

Lower Deer Valley

Qty Sold % Chg Volume % Chg Median % Chg
2019 42   48,340,000   1,063,750  
2020 53 26% 60,528,801 25% 990,000 -7%
2021 64 21% 117,399,300 94% 1,477,500 49%
2022 37 -42% 70,393,750 -40% 1,802,500 22%

Deer Crest

Qty Sold % Chg Volume % Chg Median % Chg
2019 8   17,012,500   1,868,750  
2020 9 13% 22,627,000 33% 2,500,000 34%
2021 12 33% 34,405,000 52% 2,950,000 18%
2022 2 -83% 8,865,380 -74% 4,432,690 50%

Upper Deer Valley

Qty Sold % Chg Volume % Chg Median % Chg
2019 44   92,843,134   1,790,000  
2020 63 43% 153,323,500 65% 2,100,000 17%
2021 56 -11% 163,916,868 7% 2,485,000 18%
2022 27 -52% 78,841,250 -52% 2,481,250 0%

Empire Pass

Qty Sold % Chg Volume % Chg Median % Chg
2019 21   59,249,250   2,400,000  
2020 52 148% 155,547,614 163% 2,670,000 11%
2021 82 58% 304,287,633 96% 3,355,000 26%
2022 46 -44% 177,883,009 -42% 3,625,000 8%

Update January 2023

The current Deer Valley Inventory has a total of 42 listings.  We have limited inventory because buyers typically narrow their search to a specific area of Deer Valley and narrow their search between homes and condos.  For example, if you're searching for a ski-in-ski-out home in Deer Valley, Lower Deer Valley isn't an option - this leaves the buyer with only eleven options, and the bed, bath, budget, and year will trim the search down in half.  Scroll down to the bottom of this page to click the links for Deer Valley home and condo listings.

Current Inventory Homes Condos Total Area
Lower Deer Valley 2 13 15
Deer Crest 2 5 7
Upper Deer Valley 5 7 12
Empire Pass 4 4 8
Deer Valley Total 13 29 42

In Summary:

Deer Valley Resort real estate is functioning normally, but when the stats are reviewed, there appears to be a significant dropoff in 2022.  Sales started to slow in 2022 because of higher interest rates and economic uncertainty.  However, there are still plenty of buyers searching for a ski property in Deer Valley.

Stats don't tell everything, especially with such a small sample size and every property in Deer Valley being unique.  After listening to national news, buyers may feel the market has shifted, but sellers who are standing strong continue to receive acceptable offers. 

For the final statistic, I pulled the list price to the sales price from the Park City MLS for Deer Valley sales.  I searched for the past 90 days, and the property had to be under contract within 180 days to remove new construction from the equation.  What the numbers show is the past 24 sales in Deer Valley have sold for 96% of the asking price.

Deer Valley Realtors

Please get in touch with Derrik Carlson if you have found the information above helpful and considering buying or selling a Deer Valley property.  As a top-producing Park City and Deer Valley real estate team, we strive to provide professional customer service throughout real estate transactions.

We are happy to schedule a time to speak on the phone before you arrive in town to view Deer Valley real estate for sale.  We don't believe a multi-million dollar buyer or seller of Deer Valley real estate can have their arm twisted to jump into a transaction, so the sales process is always at the client's own pace - this process can take seven days to seven years.

Derrik Carlson is a Realtor specializing in selling luxury resort real estate in Deer Valley and the Park City area.  During the abovementioned period, he has been a top two agent for Keller Williams in Utah and the #35 agent nationally for the largest real estate franchise in the United States.

Editor's Note: This page was originally posted on January 19, 2023; the most recent update was May 30, 2023.  The data and information above are only reviewing the real estate market for the Deer Valley Resort area.  Park City real estate trends can be found by accessing the link at this page's top.  The data in this report was supplied or pulled directly from the Park City MLS and is deemed reliable but not guaranteed.  Derrik Carlson and his team members on The Carlson Real Estate Team adhere to the Realtor code of ethics.

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