Park City Real Estate Market Report: Trends Through February 2026

Park City Real Estate Market Overview

As of February 2026, the single-family home market in Park City and the Snyderville Basin remains supply-constrained. Active inventory is down 13.9 percent year over year, the median days on market fell to 17, and the $15 million Promontory Ridge sale closed in zero days at full list price. The condo and townhome segment tells a different story: inventory is up 23.6 percent from a year ago, months of supply have risen to 8.6, and buyers have meaningfully more time and options than they did in early 2025. In both segments, sellers who price to the current market are closing at or near the list.

The luxury market remains active. A $17.8 million St. Regis penthouse and a $15 million single-family closing at Promontory Ridge both closed in February 2026. The separation is not between buyers and sellers broadly, but between a well-priced product and everything else. For buyers, that means more negotiating room in condos and less hesitation in single-family homes. For sellers, it means pricing accuracy matters more than market conditions.

This report tracks closed-transaction data from the Park City Board of Realtors and Domus Analytics, organized by month and segment, from January 2025 through February 2026. The focus is strictly on Park City Limits and the Snyderville Basin, which produces cleaner, more actionable data than reports that blend in surrounding Wasatch County markets.

How This Report Is Built

This report is based on closed sales data from the Park City Board of Realtors and Domus Analytics. It covers Park City Limits and the Snyderville Basin only, excluding Heber City, Midway, and other Summit and Wasatch County markets that can distort broader regional figures. Derrik Carlson reviews and interprets the data monthly to give buyers, sellers, and referral agents a clear read on pricing, supply, and absorption at the segment and neighborhood level.

Executive Summary – February 2026

• Single-family inventory is down. Active single-family listings fell 13.9 percent year over year to 205 homes. Months of supply dropped from roughly 9 to 6.4 over the past twelve months.
• Condo inventory is up. Active condo and townhome listings rose 23.6 percent year over year to 267 units. Months of supply stands at 8.6, the highest since early 2024.
• Pricing remains supported in top locations. Single-family median price reached $3,000,000 in February 2026, up 21.5 percent from February 2025. Properties in Promontory, Deer Valley, and Glenwild are closing at or near the list price.
• Buyers have more leverage in condos than in homes. Condo sellers are still receiving 97.1 percent of the list price, but median days on market doubled year over year to 60. Buyers have time and selection in this segment.
• 2026 is market-by-market, not one market. Performance this year is determined by neighborhood, product type, pricing accuracy, and condition.

Park City Real Estate Quick Stats – February 2026

Source: Park City Board of Realtors / Domus Analytics. Covers Park City Limits and Snyderville Basin only. Updated March 2026.

Key Park City Real Estate Trends Since 2020

Six years of market data show a market that moved through four distinct phases: a demand surge from 2020 to 2022, a rate-driven slowdown in 2022 and 2023, a rebalancing period through 2024, and, now, a supply-constrained environment in 2026 where execution at the property level determines outcomes more than broad market direction does.

• Pricing appreciation from 2020 through 2022 was the sharpest in recent history. Single-family median prices rose from approximately $1.5 million in 2020 to above $3 million by 2022. Remote work demand, low borrowing costs, and a restricted seller pool compressed timelines and eliminated buyers' negotiating room across most communities.
• Inventory remained structurally limited throughout the cycle. Park City's development constraints, including zoning, infrastructure limits, and geographic boundaries, prevented the supply of housing from responding proportionally to demand. That scarcity continues to support single-family pricing today.
• The luxury market held through the rate cycle. Properties priced above $5 million in Deer Valley, Promontory, Glenwild, and Old Town continued to transact. Cash buyers and equity-rich buyers showed reduced rate sensitivity at the top of the market compared with mid-price segments.
• The condo segment expanded meaningfully in 2024 and 2025. New development at Deer Valley, Canyons Village, and resort-adjacent projects added inventory, raising the total available supply of attached units. By late 2025, most condo submarkets had shifted toward balanced or buyer-favorable conditions outside true ski-access addresses.
• Buyer selectivity increased as supply expanded. Properties that moved quickly were those with correct pricing, strong locations, and compelling conditions. Days on market rose across both segments from 2023 through 2025, but the best-positioned properties continued to receive competitive offers and close at or near list.
• Price per square foot became a more reliable metric than median sales price. As the sales mix shifted month to month, median price figures became volatile. In the single-family segment, price per square foot held consistently in the $800 to $950 range through 2025, providing a cleaner read on underlying value.

Historical annual reports from 2020 through 2024 are available for reference:

• 2020 Park City Market Report
• 2021 Park City Market Report
• 2022 Park City Market Report
• 2023 Park City Market Report
• 2024 Park City Market Report

Park City Real Estate: 2025 Year in Review

2025 Full-Year Market Summary – Park City & Snyderville Basin

In 2025, Park City real estate shifted into a disciplined, data-driven environment. Transaction volume remained strong, with 513 single-family homes and 512 condos and townhomes closing across Park City and the Snyderville Basin. Pricing stabilized after several years of rapid movement, but market efficiency improved: median days on market for single-family homes dropped to 35, sellers captured 97.3 percent of list, and price per square foot rose 13.8 percent to $814, confirming buyers were paying for quality and location rather than size alone.

In the condo segment, median pricing rose 18.5 percent to $1,397,500, but new listings expanded to 812 units, creating more selection and placing greater pressure on pricing accuracy outside top locations. By the end of 2025, interest rates had begun to ease, yet values did not meaningfully decline and supply did not expand in a way that disrupted pricing. Utah continues to see steady business and population growth, and Park City remains one of the most accessible destination ski markets in North America through Salt Lake City International Airport. These fundamentals continue to support demand.

Single-Family Homes: 2025 Overview

• Median Sales Price: $2,825,000 (Up 0.1% YoY)
• Closed Sales: 513 (Up 16.6% YoY)
• Median Days on Market: 35 (Down 26.3% YoY)
• List-to-Sold Price Ratio: 97.3% (Up 1.5% YoY)
• Median Sold $/Sq Ft: $814 (Up 13.8% YoY)
• New Listings: 757 (Up 1.5% YoY)

Condos & Townhomes: 2025 Overview

• Median Sales Price: $1,397,500 (Up 18.5% YoY)
• Closed Sales: 512 (Up 1.0% YoY)
• Median Days on Market: 40 (Flat YoY)
• List-to-Sold Price Ratio: 97.0% (Flat YoY)
• Median Sold $/Sq Ft: $1,013 (Up 10.5% YoY)
• New Listings: 812 (Up 16.0% YoY)

What 2025 Established Going Into 2026

The market now rewards pricing accuracy, not optimism. Homes positioned correctly relative to recent comparable sales continue to attract qualified buyers; properties priced on expectation rather than data take longer to sell and require more frequent adjustments. Premium product, specifically newer construction, ski-access homes, and properties in core locations, still move. Average product competes harder and closes at larger discounts to the list.

• Single-family homes remain supported by a limited supply.
• Condos offer more selection and negotiation leverage in most submarkets.
• Success in 2026 is determined by neighborhood, product quality, and pricing accuracy, not overall market conditions.

Park City Real Estate Market Updates

For archived monthly updates, use the jump links above.

a Neighborhood Market Insights

Market conditions across Park City and the Snyderville Basin are not uniform. The data shows consistent separation between communities based on ski access, golf amenities, lot size, and proximity to resort infrastructure. A market-wide average obscures most of what is actually useful for buyers and sellers making decisions at the property level.

Promontory

Promontory is one of the highest-volume luxury communities in Summit County. February 2026 included multiple single-family closings between $4 million and $15 million, with the $15 million Promontory Ridge sale closing in zero days at 100 percent of the list. The community's combination of golf, ski access, private club infrastructure, and large-parcel homesites draws buyers looking for a primary second-home destination. View current listings at the Promontory real estate page.

Deer Valley

Deer Valley remains the most demand-resilient ski resort submarket in the Park City area. Ski-in properties in Empire Pass, Deer Crest, and Lower Deer Valley continue to command premium pricing. The February 2026 data includes a $17.8 million St. Regis penthouse and two Larkspur townhomes at $7.1 million and $7.5 million, all closing at 90 to 97 percent of list after a meaningful time on the market. That pattern reflects committed ultra-luxury buyer behavior, not weak demand. Inventory at true ski-in addresses remains limited. Learn more at the Deer Valley real estate page.

Park Meadows

Park Meadows is a mid-to-upper-tier residential neighborhood within Park City limits, offering proximity to the municipal golf course, trail access, and established lot sizes with mountain views. Transactions here consistently range from $2 million to $5 million. Days on market track with the broader single-family market, and well-priced homes continue to sell efficiently.

Old Town

Old Town is the most walkable submarket in Park City. It draws buyers who prioritize ski access, rental income potential, and proximity to Main Street. It is one of the few areas in Park City where short-term rental licensing remains generally accessible, which adds an investment dimension that other communities do not offer. The condo and townhome segment here is among the most liquid below $2 million. Browse ski-in/ski-out properties for current availability.

Canyons Village

Canyons Village has seen meaningful new condo and townhome development in recent years, expanding supply and giving buyers more options at multiple price points. Well-located, newer units with ski access continue to perform. Dated or poorly positioned inventory is sitting longer and requires a price adjustment. View the Park City communities overview for current listings.

Glenwild

Glenwild is a private, gated golf community in the Snyderville Basin with limited inventory and a strong long-term ownership profile. The February 2026 data included a $9 million closing, consistent with the upper tier of this market. Low turnover and constrained supply make Glenwild one of the more stable communities in the area. View the Glenwild real estate page for details.

Deer Valley Expansion

The Deer Valley Expansion project at Mayflower Mountain Resort is the largest new ski terrain development in Park City in decades. The expansion adds meaningful acreage to the Deer Valley resort system and has attracted significant pre-sale interest from resort-area buyers and brand operators. View current project status at the Deer Valley Expansion real estate page.

What Buyers and Sellers Should Know

What Buyers Should Know

The single-family market is moving faster than it was a year ago. The median days on market in February 2026 was 17, down 35 percent year over year. In working with buyers across Deer Valley, Promontory, and Park Meadows over recent months, the consistent pattern has been that well-priced homes in core locations sell before most buyers feel ready. Waiting for inventory to expand in the single-family segment has not been a productive strategy over the past twelve months.

The condo segment gives buyers more time and more options. With 267 active condo and townhome listings and an 8.6-month supply as of February 2026, there is real selection across most price points. Sellers are still receiving 97.1 percent of the list when priced correctly, so broad, deep discounts are not the expectation. What has changed is the negotiating environment: buyers can be more selective about conditions, finishes, and views before committing.

The luxury market above $5 million moves on its own timeline. Properties priced correctly relative to recent comparables are closing. Prices are set aspirationally, sometimes for extended periods, before reaching an agreement. For buyers considering ski-in/ski-out properties or homes in the golf communities, being financially ready when the right property appears is the most important preparation.

What Sellers Should Know

In the single-family segment, the risk is not under-pricing. The risk is coming to market above current comparables and watching inventory build around you while your property sits. The $15 million Promontory Ridge sale at zero days on market and 100 percent of the list is not an anomaly. It is what happens when a property is priced at a level the buyer already expects.

In the condo and townhome segment, buyers have 267 active options. If your property does not stand out in price, condition, or location, it will not move at the pace you expect. Pricing to 2024 comparable sales in 2026 is the most common and most costly mistake in this segment right now. Spring is a natural inflection point when new inventory enters, and buyer activity increases. Sellers who enter spring priced correctly and in strong showing condition have a structural advantage over those who adjust later in the season.

Market Perspective From Derrik Carlson

I have been reviewing Park City MLS data and advising buyers and sellers across the Snyderville Basin for nearly twenty years. The pattern I see most consistently is that sellers who price ahead of the market lose more ground waiting than they would have by pricing correctly in the first place, and buyers who wait for a clear signal end up competing for fewer options at higher prices. February 2026 shows both dynamics playing out simultaneously in different segments.

The single-family market is tighter than the headline numbers suggest. With active inventory down nearly 14 percent year over year and months of supply compressing from 9 to 6.4 in twelve months, the supply picture is clear. Well-located homes in Deer Valley, Promontory, Glenwild, and Park Meadows are moving quickly when priced correctly. If you are evaluating a purchase in that segment, the window between when a property appears and when it closes is short.

The condo market is more nuanced. The 97.1 percent list-to-sold ratio tells you demand is intact. What it does not tell you is that the 2.9 percent below list is not evenly distributed. Properties that close at 100 percent came in correctly priced from day one. Properties that close at 90 percent came in too high and adjusted after extended time on the market. That distinction matters when you are planning your strategy.

If you want help applying these numbers to a specific property, neighborhood, or search criteria, I am happy to give you a direct read on the segment you are actually entering. The data above is useful context. The decision you are making is specific. Reach out at 435.200.5478 or through the contact page.

Derrik Carlson
Resort Real Estate Advisor
Derrik & Co., Luxury Division of KW Park City Keller Williams Real Estate

Frequently Asked Questions About the Park City Real Estate Market

Is Park City a buyer's market or a seller's market right now? 

It depends on the segment. The single-family home market is closer to a seller's market, with active inventory down 13.9 percent year over year and months of supply at 6.4 as of February 2026. The condo and townhome segment is more balanced: months of supply stands at 8.6 and active inventory is up 23.6 percent, giving buyers more options and more time. 

What is the median home price in Park City? 

The median sales price for single-family homes was $3,000,000 in February 2026, up 21.5 percent from February 2025. For condos and townhomes, the February 2026 median was $1,345,000. For the full year 2025, the single-family median was $2,825,000, and the condo and townhome median was $1,397,500.

Are Park City home prices declining?

No. The single-family median price in February 2026 was $3,000,000, up 21.5 percent from February 2025. Median price per square foot was up 26.1 percent year over year. The 37 percent year-over-year decline in the condo median is a mix-shift issue, not a valuation decline. February 2025 included a concentration of luxury condo closings that inflated the prior-year baseline. The condo segment is softer than in 2024, but the comparative figures overstate the decline.

Which Park City neighborhoods have the strongest demand? 

Demand is consistently strongest in Promontory, Deer Valley, Old Town, and ski-access communities in the Snyderville Basin. Promontory led February 2026 single-family volume with multiple closings between $4 million and $15 million. Deer Valley ski-in properties continue to attract committed buyers at premium price points. Old Town remains one of the most liquid submarkets below $2 million. Glenwild and Park Meadows maintain steady upper-tier demand with limited inventory.

Are condos or single-family homes performing better right now?

Single-family homes are performing better on most metrics in early 2026. Median days on market for single-family was 17 in February 2026, compared to 60 for condos. Single-family inventory is down year over year while condo inventory is up 23.6 percent. Both segments are closing at or near list price when priced correctly, but the single-family segment shows tighter supply and faster absorption.

How long does it take to sell a home in Park City?

In February 2026, the single-family median days on market was 17, down 34.6 percent from a year ago. For condos and townhomes, the median was 60 days, more than double the prior-year figure. Well-priced homes in premium locations can move in days. Properties priced above current comparable sales typically require adjustments and extended marketing periods before closing.

What is driving demand for Park City real estate?

The primary drivers are geographic scarcity, resort access, and Utah's steady business and population growth. Park City's development is constrained by zoning, land availability, and infrastructure, which limits how much supply can expand. Salt Lake City International Airport provides direct access from Los Angeles, New York, Dallas, Chicago, and other major markets, reducing the friction of resort ownership. The Deer Valley Expansion at Mayflower Mountain adds significant new ski terrain, reinforcing long-term demand for ski-access real estate in this corridor.

Related Park City Real Estate Searches

Own Property in Park City?

If you want help applying these numbers to your property, neighborhood, or search criteria, the most useful next step is a direct conversation. Market conditions in Park City are moving quickly in some segments and slowly in others, and knowing which environment applies to your specific situation is more valuable than a general read on the market.

Derrik Carlson focuses exclusively on luxury, ski, golf, and investment properties across Park City, Deer Valley, and the Snyderville Basin. Call 435.200.5478, email Derrik@RealEstateInParkCity.com, or use the contact page.

Editor's Note: This report is updated monthly using closed transaction data from the Park City Board of Realtors and Domus Analytics. Data covers Park City Limits and the Snyderville Basin only. Last updated March 2026 with February 2026 statistics.