Deer Valley Real Estate Market Update
by Derrik Carlson, Derrik & Co.
Insights for Luxury Buyers for Deer Valley Real Estate Buyers
As of the beginning of 2025, Deer Valley's real estate market is thriving, offering a unique combination of luxury, adventure, and investment potential. Located in Park City, Utah, Deer Valley is synonymous with world-class skiing, exceptional mountain living, and an unparalleled lifestyle.
My name is Derrik Carlson with Derrik & Co., and I specialize in luxury resort real estate. Let's explore the latest market trends—from 2024 all the way back to 2019—and discover why Deer Valley remains a prime destination for discerning buyers.
Essential Links for Exploring Deer Valley Real Estate
- Deer Valley Real Estate for Sale
- Deer Valley Homes for Sale
- Deer Valley Condos for Sale
- Deer Valley Ski-In-Ski-Out
Within Deer Valley, you can also explore these sought-after areas:
Note: We have not included Deer Valley East Village since they mainly have one building closed at the Grand Hyatt and Marcella parcels (Marcella at Deer Valley).
Deer Valley Highlights: The Lifestyle Buyers Desire
World-Class Skiing and Mountain Biking
Deer Valley is celebrated as one of the premier ski resorts globally. With over 2,000 acres of skiable terrain, six mountains, and 103 trails, its perfectly groomed, skier-only slopes deliver an exceptional winter experience. In the summer, the resort transforms into a haven for mountain biking—with more than 70 miles of trails, hiking paths, and guided adventures—making Deer Valley a year-round playground for outdoor enthusiasts.
Luxury Homes with Ski-In-Ski-Out Access
The Deer Valley real estate market is synonymous with convenience and elegance. Many properties feature ski-in-ski-out access, private hot tubs, gourmet kitchens, and spacious outdoor living areas. Architectural styles vary from modern mountain-inspired designs to contemporary estates. Whether you're looking for a vacation home or a full-time residence, Deer Valley delivers unmatched luxury combined with direct access to nature.
Proximity to Park City's Main Street
Just minutes away, Park City's world-renowned Main Street offers award-winning restaurants, boutique shopping, art galleries, and cultural events like the Sundance Film Festival. This proximity allows residents to enjoy a serene mountain retreat with the best urban amenities within easy reach.
Discover more about the Deer Valley lifestyle at Deer Valley Real Estate.
Market Overview: Trends Shaping Deer Valley Real Estate
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2024: Ultra-luxury home sales are on the rise—with several properties selling for over $20 million and one notable sale surpassing $50 million. Cash deals dominate the high end, while properties with modern finishes and direct ski access continue to sell rapidly.
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2023: The market began to normalize compared to the post-pandemic boom. Although the days on market increased slightly for high-end properties, approximately 67% of transactions were completed in cash—highlighting the financial strength of Deer Valley buyers.
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2022: This year experienced a post-pandemic surge, with rapid sales and bidding wars—especially for turnkey, ski-in-ski-out properties. Limited inventory pushed median prices higher even as overall sales volumes dropped in some segments.
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2019: Pre-pandemic, the market was steady, with moderate price growth and a healthy supply of condos and single-family homes. Buyers valued traditional mountain charm and emerging modern amenities, setting a strong foundation for the subsequent boom.
Explore available ski-in-ski-out properties by visiting Deer Valley Ski-In-Ski-Out Real Estate.
Seasonal Trends: Winter vs. Summer Buyers
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Winter Surge: During ski season, properties with direct slope access are highly sought after, enjoying shorter days on market and commanding higher premiums.
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Summer Appeal: Deer Valley attracts buyers looking for outdoor spaces with easy access to hiking and biking trails in summer. Cultural events like the Deer Valley Music Festival further enhance the area's year-round charm.
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Offseason Opportunities: Spring and fall offer attractive deals for buyers seeking less competition and more favorable pricing.
Homes vs. Condos: Understanding Buyer Preferences
Luxury Homes
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Pricing: The average sold price for homes exceeds $3.5 million, with modern constructions often commanding significant premiums.
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Market Dynamics: Newer homes (0–10 years old) sell quickly thanks to contemporary designs and modern amenities.
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Appeal: Buyers value expansive mountain views, ski-in-ski-out access, and upscale features such as private spas and state-of-the-art entertainment areas.
Condominiums
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Pricing: Median sold prices for condos hover around $2.5 million, with premium units in master-planned communities like Empire Pass fetching even higher prices.
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Market Trends: Condos aged 0–10 years, offering modern design and convenient amenities, tend to sell faster and at strong values.
Learn more about the Park City market at Park City Real Estate.
The Impact of New Construction
Limited Availability
New developments in Deer Valley are scarce, which keeps demand high and contributes to the appreciation of existing properties. Buyers who act quickly on new projects often secure significant value.
Recent Projects
Recent developments such as Founders Place and Sommét Blanc have raised the bar for luxury living with cutting-edge designs, integrated spa services, and dedicated ski valet facilities. These projects appeal to buyers looking for a turnkey experience without the hassle of extensive renovations.
Investment Potential
Newly built properties offer several advantages—higher price points justified by lower maintenance costs, energy efficiency, and strong long-term resale potential. Investors and end-users alike are drawn to these benefits.
Deer Valley Market Trends: A Year-by-Year Review (2024 to 2019)
2024 Market Overview
The 2024 market has demonstrated remarkable resilience and growth. Ultra-luxury properties are setting records—with several sales topping $20 million and one transaction even surpassing $50 million. In 2024, properties with modern finishes, smart-home features, and direct ski-in-ski-out access have moved exceptionally fast—often within 30 to 60 days. Premium condos in Empire Pass and Deer Crest command between $1,500 and $2,500 per square foot, while the most exclusive single-family homes in Deer Crest can exceed $2,000 per square foot.
Financing in 2024 remains dynamic: many high-end buyers prefer cash transactions to bypass financing complexities, while conventional and jumbo loans continue to play a role for mid-range properties. Overall, 2024 has confirmed Deer Valley as an investment-worthy market with sustained high demand and strong appreciation.
2023 Market Overview
In 2023, the Deer Valley market experienced a slight normalization compared to the post-pandemic frenzy. Although overall sales volume was a bit lower, the market's strength remained undiminished. Approximately 67% of transactions were completed in cash, underscoring the financial robustness of the buyer pool. Condos in developments such as Montage Deer Valley and Lodges at Deer Valley sold at price per square foot values ranging from $900 to $1,400, while high-end properties in American Flag and Evergreen commanded $1,500 to $2,500 per square foot.
Days on market increased slightly for some high-end estates—averaging 90 to 120 days—but turnkey, ski-in-ski-out listings continued to move rapidly. Buyers were especially drawn to updated interiors and energy-efficient systems, even as interest rates remained higher than in the boom years.
2022 Market Overview
The 2022 market marked the tail end of the pandemic-era surge, characterized by high buyer enthusiasm and rapid transactions. Although sales volume decreased relative to 2021, limited inventory pushed median prices upward. Older condos in Lower Deer Valley sometimes sold for between $600 and $900 per square foot if they required updates, whereas well-maintained units near Silver Lake and in Upper Deer Valley were priced between $1,000 and $1,400 per square foot.
For single-family homes, prestigious subdivisions like Deer Crest and Bald Eagle Club saw prices between $1,400 and $2,000 per square foot—driven by prime ski access and modern design. Many properties sold within 30–45 days in the sub-$4 million range, while ultra-luxury estates took 60–90 days to find the right buyer. Cash transactions were common, particularly for sales above $3–$4 million, as buyers sought both a lifestyle upgrade and strong investment potential.
2019 Market Overview
Before the pandemic, the 2019 market in Deer Valley was steady with moderate price growth and a healthy supply of condos and single-family homes. Buyers appreciated the traditional mountain charm blended with emerging modern amenities. Prices were relatively lower compared to the boom years, with condos and homes offering excellent value for their location and lifestyle benefits. This period laid a strong foundation for the rapid appreciation seen in subsequent years.
Comparative Analysis: 2024 vs. 2023 vs. 2022 vs. 2019
Reviewing the market from 2019 through 2024 reveals several key trends:
- Price Growth: Each year, especially in prime subdivisions like Empire Pass and Deer Crest, incremental increases in median sales prices and price per square foot were seen. Buyers consistently recognized the long-term value of owning property in an exclusive resort community.
- Days on Market: While 2022 featured exceptionally rapid sales due to high demand and low inventory, 2023 saw a modest increase in days on the market. In 2024, premium properties continued to sell quickly—particularly those with modern amenities and direct ski access. In contrast, in 2019, properties had a steadier pace but lower overall prices.
- Financing Trends: Cash purchases have dominated the upper-end market throughout these years. Although conventional financing remains common for mid-range properties, the prevalence of all-cash transactions underscores the strong purchasing power of Deer Valley buyers.
- Subdivision Dynamics:
- Deer Crest: Remains synonymous with ultra-luxury estates, commanding premium prices and rapid sales for properties with breathtaking views and exclusive amenities.
- Empire Pass: Continues to attract high-end buyers with a mix of modern condos and single-family residences boasting ski-in-ski-out access.
- Lower Deer Valley: Offers a more accessible price point while still providing proximity to Park City's Main Street and excellent ski facilities.
- Upper Deer Valley: Known for its consistent demand and balanced mix of custom homes and high-end condos, it appeals to buyers who value both convenience and scenic beauty.
Why Work With a Deer Valley Real Estate Agent?
Navigating this competitive market requires local experience. Working with experienced Deer Valley Real Estate Agents is crucial. With my extensive knowledge of the Deer Valley market—from the nuances of each subdivision to the intricacies of financing high-end properties—I can help you secure the best property at the right price. My approach ensures you make informed decisions whether you buy, sell, or invest in Deer Valley real estate.
Experience the Deer Valley Lifestyle
Deer Valley is more than just a real estate market—it's a lifestyle. Deer Valley offers a unique blend of outdoor adventure and luxury living, from skiing on world-class slopes and mountain biking along pristine trails to enjoying gourmet dining and exclusive cultural events.
If you're ready to explore the trends, tour exquisite properties, or discuss off-market opportunities, contact me today. Let's work together to turn your Deer Valley dream into a reality.
You can reach me, Derrik Carlson, at Learn More About Me or call 435.200.5478 for a personalized consultation.
Historical Data Analysis (2019–2022)
Examining Deer Valley's Real Estate Trends Through Historical Lenses
A thorough analysis of historical data from 2019 to 2022 reveals significant evolution in Deer Valley's real estate dynamics. In 2019, the market was steady with moderate growth and a balanced mix of properties. As the pandemic hit in 2020, buyer interest surged—leading to a flurry of activity that set the stage for rapid appreciation.
For example, in Lower Deer Valley, median prices for single-family homes increased from approximately $2,250,000 in 2019 to $4,500,000 in 2022, even as sales volumes fluctuated. Meanwhile, Deer Crest witnessed a dramatic rise in median prices, reflecting a market shift toward ultra-luxury properties despite fewer transactions. Condo sales in Upper Deer Valley similarly experienced steady growth in price per square foot as buyers increasingly invested in modern, turnkey units with ski-in-ski-out access.
Deer Valley Single Family Home Stats
| Subdivision | Year | # Sold | Volume | Median Price |
|---|---|---|---|---|
| Lower Deer Valley | 2019 | 13 | $32,150,002 | $2,250,000 |
| Lower Deer Valley | 2020 | 28 | $74,859,141 | $2,525,000 |
| Lower Deer Valley | 2021 | 15 | $53,673,275 | $3,495,000 |
| Lower Deer Valley | 2022 | 8 | $35,210,000 | $4,500,000 |
| Deer Crest | 2019 | 5 | $45,910,000 | $6,810,000 |
| Deer Crest | 2020 | 12 | $78,609,833 | $6,438,900 |
| Deer Crest | 2021 | 8 | $56,213,384 | $6,650,000 |
| Deer Crest | 2022 | 2 | $25,900,000 | $12,950,000 |
| Upper Deer Valley | 2019 | 22 | $110,114,858 | $4,450,000 |
| Upper Deer Valley | 2020 | 22 | $105,665,666 | $4,612,500 |
| Upper Deer Valley | 2021 | 22 | $138,219,355 | $5,980,000 |
| Upper Deer Valley | 2022 | 14 | $106,073,000 | $6,450,000 |
| Empire Pass | 2020 | 6 | $35,565,000 | $5,850,000 |
| Empire Pass | 2021 | 8 | $80,725,000 | $8,875,000 |
| Empire Pass | 2022 | 2 | $16,200,000 | $8,100,000 |
Deer Valley Condo Sales Stats
| Subdivision | Year | Qty Sold | Volume | Median Price |
|---|---|---|---|---|
| Lower Deer Valley | 2019 | 42 | $48,340,000 | $1,063,750 |
| Lower Deer Valley | 2020 | 53 | $60,528,801 | $990,000 |
| Lower Deer Valley | 2021 | 64 | $117,399,300 | $1,477,500 |
| Lower Deer Valley | 2022 | 37 | $70,393,750 | $1,802,500 |
| Deer Crest | 2019 | 8 | $17,012,500 | $1,868,750 |
| Deer Crest | 2020 | 9 | $22,627,000 | $2,500,000 |
| Deer Crest | 2021 | 12 | $34,405,000 | $2,950,000 |
| Deer Crest | 2022 | 2 | $8,865,380 | $4,432,690 |
| Upper Deer Valley | 2019 | 44 | $92,843,134 | $1,790,000 |
| Upper Deer Valley | 2020 | 63 | $153,323,500 | $2,100,000 |
| Upper Deer Valley | 2021 | 56 | $163,916,868 | $2,485,000 |
| Upper Deer Valley | 2022 | 27 | $78,841,250 | $2,481,250 |
| Empire Pass | 2019 | 21 | $59,249,250 | $2,400,000 |
| Empire Pass | 2020 | 52 | $155,547,614 | $2,670,000 |
| Empire Pass | 2021 | 82 | $304,287,633 | $3,355,000 |
| Empire Pass | 2022 | 46 | $177,883,009 | $3,625,000 |
Final Thoughts
From the record-setting ultra-luxury transactions of 2024 to the post-pandemic surge of 2022 and the steady market of 2019, Deer Valley's real estate market continues to capture the imagination of luxury buyers worldwide. Whether you're interested in a modern condo with direct slope access or a sprawling single-family estate with breathtaking views, these trends confirm that Deer Valley remains one of the most coveted destinations in Park City.
With limited inventory and sustained buyer interest, this market demands speed and strategic planning. As your trusted advisor, I am committed to helping you navigate these competitive conditions—whether you're buying, selling, or investing in this world-class community.
For personalized guidance and off-market opportunities, contact me today. Let's work together to secure your place in the exceptional Deer Valley lifestyle.
Sincerely,
Derrik Carlson
Derrik & Co.
Call: 435.200.5478
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 on February 15, 2024. The data and information above only review the real estate market for the Deer Valley Resort area. Park City real estate trends can be found by accessing the link at the top of this page. 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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