Park City Real Estate Trends | Updated November 2025

Park City Real Estate Market Update – October 2025

The Park City real estate market in October 2025 shifted as fall progressed, with single-family homes experiencing a seasonal price adjustment and condos maintaining steady activity. Seasonal slowdowns and economic factors influenced buyer behavior, though luxury segments remained a focal point.

Single-Family Home Sales Stats

• Median Sales Price: $2,500,000 (Down 23.1% YoY, Down 2.9% MoM)
• Closed Sales: 56 (Up 0.0% YoY, Up 3.7% MoM)
• Median Days on Market: 34 (Down 33.0% YoY, Down 57.1% MoM)
• List-to-Sold Price Ratio: 96.0% (Up 0.7% YoY, Down 1.4% MoM)
• Median Sold $/Sq Ft: $786 (Up 10.9% YoY, Down 11.0% MoM)
• New Listings: 60 (Up 33.3% YoY, Up 13.2% MoM)
• Active Inventory: 230 (Down 13.5% YoY, Down 10.5% MoM)
• Months of Supply: 4.1 (Down 13.5% YoY, Down 13.7% MoM)

Single-family home prices declined year over year, reflecting a market adjustment mixed with seasonality, while faster sales cycles suggest renewed buyer interest. The five sales of $10 million+ luxury estates in Park City underscored continued high-end demand.

Condo & Townhome Sales Stats

• Median Sales Price: $1,650,000 (Up 44.3% YoY, Down 24.8% MoM)
• Closed Sales: 59 (Up 5.4% YoY, Up 25.5% MoM)
• Median Days on Market: 52 (Down 4.6% YoY, Down 26.4% MoM)
• List-to-Sold Price Ratio: 96.9% (Up 0.5% YoY, Down 0.9% MoM)
• Median Sold $/Sq Ft: $1,015 (Up 26.1% YoY, Down 8.1% MoM)
• New Listings: 48 (Up 9.1% YoY, Up 4.3% MoM)
• Active Inventory: 216 (Up 20.7% YoY, Down 9.6% MoM)
• Months of Supply: 3.7 (Up 14.5% YoY, Down 28.0% MoM)

Condo prices rose significantly year over year, though a sharp month-over-month drop suggests volatility in luxury sales. Increased closed sales and shorter market times indicate solid demand, with a $13 million sale in Empire Pass highlighting the resilience of the luxury market.

Notable Sales Activity

• $16.2M - Promontory
• $14.8M – Stein Eriksen Residences

Market Observations

• Cash buyers continued to dominate luxury transactions, buffering against economic shifts.
• Single-family homes sold more quickly despite price declines, reflecting selective demand.
• Condo inventory growth provided options, though high-end units drove price metrics.
• Well-priced properties in resort areas maintained strong movement.

Economic Context

October 2025 brought economic stability with managed inflation and tariff resolutions, supporting buyer confidence. Global liquidity from steady ECB policies reinforced Park City’s appeal for luxury investments.

Outlook

As winter nears, the market anticipates increased activity in ski-accessible properties. Inventory levels will most likely remain flat, while luxury demand is expected to sustain through the holiday season.

Conclusion

October 2025 highlighted a resilient Park City market, with luxury driving performance despite seasonal adjustments. For personalized guidance on buying or selling, contact REAL ESTATE IN PARK CITY today.

Park City Real Estate Market Update – September 2025

The Park City real estate market in September 2025 reflected a transition into the fall season, with single-family homes maintaining strength and condos showing mixed signals. Economic stability and seasonal shifts influenced buyer behavior, with luxury properties continuing to drive activity amid a growing inventory.

Single-Family Home Sales Stats

• Median Sales Price: $2,575,000 (Up 25.9% YoY, Down 3.7% MoM)
• Closed Sales: 54 (Up 50.0% YoY, Down 8.5% MoM)
• Median Days on Market: 78 (Up 11.4% YoY, Up 56.0% MoM)
• List-to-Sold Price Ratio: 97.4% (Up 2.1% YoY, Up 0.3% MoM)
• Median Sold $/Sq Ft: $883 (Up 40.4% YoY, Up 12.5% MoM)
• New Listings: 53 (Up 1.9% YoY, Down 20.9% MoM)
• Active Inventory: 257 (Down 14.0% YoY, Down 10.8% MoM)
• Months of Supply: 4.8 (Down 42.7% YoY, Down 2.0% MoM)

Single-family home sales remained robust year-over-year, though a month-over-month decline suggests a seasonal slowdown. The significant price increase and rising days on market indicate a more deliberate buyer approach. A $14.5 million sale in Promontory highlighted sustained luxury demand.

Condo & Townhome Sales Stats

• Median Sales Price: $2,195,000 (Up 84.9% YoY, Down 93.4% MoM)
• Closed Sales: 47 (Down 2.1% YoY, Up 4.4% MoM)
• Median Days on Market: 70 (Up 66.7% YoY, Up 159.3% MoM)
• List-to-Sold Price Ratio: 97.7% (Up 1.1% YoY, Up 1.3% MoM)
• Median Sold $/Sq Ft: $1,105 (Up 20.4% YoY, Up 36.4% MoM)
• New Listings: 46 (Up 12.2% YoY, Down 23.3% MoM)
• Active Inventory: 239 (Up 20.7% YoY, Down 13.7% MoM)
• Months of Supply: 5.1 (Up 23.3% YoY, Down 17.7% MoM)

Condo sales showed a dramatic year-over-year price surge, though the month-over-month drop may reflect a statistical anomaly from high-end closings. Increased days on market and rising inventory suggest buyers are taking longer.

Market Observations

• Cash transactions dominated luxury segments, insulating the market from interest rate fluctuations.
• Single-family homes faced longer market times, indicating selective buying.
• Condo inventory growth offered more choices, though price sensitivity persisted.
• Well-priced properties in resort-adjacent areas moved quickly.

Economic Context

September 2025 saw economic steadiness with controlled inflation and resolved tariff concerns, boosting confidence. Global liquidity from stable ECB policies supported luxury investments, reinforcing Park City’s appeal as a safe haven.

Outlook

As winter approaches, the market anticipates a pickup in activity, particularly in ski-accessible properties. Inventory levels may provide buyers with leverage, while luxury demand is expected to remain strong into Q4.

Conclusion

September 2025 showcased Park City’s resilient market, with 38 sales of luxury properties over $ 5 million driving performance despite seasonal shifts. For tailored advice on buying or selling, contact REAL ESTATE IN PARK CITY today.

Park City Real Estate Market Update – August 2025

The Park City real estate market in August 2025 displayed a mixed performance, with single-family homes showing resilience and condos experiencing a slight downturn. Seasonal activity remained steady, though economic uncertainties and shifting buyer preferences influenced market dynamics. Luxury properties continued to attract significant interest, while mid-range segments saw more negotiation leverage.

Single-Family Home Sales Stats

• Median Sales Price: $2,675,000 (Up 11.9% YoY, Up 7.1% MoM)
• Closed Sales: 59 (Up 20.4% YoY, Up 34.1% MoM)
• Median Days on Market: 50 (Down 14.7% YoY, Up 57.1% MoM)
• List-to-Sold Price Ratio: 97.1% (Up 1.6% YoY, Down 1.5% MoM)
• Median Sold $/Sq Ft: $785 (Up 9.9% YoY, Up 10.1% MoM)
• New Listings: 67 (Up 11.7% YoY, Down 23.0% MoM)
• Active Inventory: 288 (Down 11.9% YoY, Down 8.0% MoM)
• Months of Supply: 4.9 (Down 26.9% YoY, Down 31.4% MoM)

Single-family home sales surged month-over-month, reflecting a robust summer market. The median price increase and faster sales cycles indicate strong demand, particularly in the luxury segment. The highest-priced sale was a $14 million estate in Deer Valley, highlighting continued interest in high-end properties.

Condo & Townhome Sales Stats

• Median Sales Price: $1,135,000 (Down 3.4% YoY, Down 4.4% MoM)
• Closed Sales: 45 (Up 15.4% YoY, Up 18.4% MoM)
• Median Days on Market: 27 (Down 49.1% YoY, Down 28.9% MoM)
• List-to-Sold Price Ratio: 96.4% (Up 0.2% YoY, Up 0.6% MoM)
• Median Sold $/Sq Ft: $810 (Down 9.8% YoY, Down 10.1% MoM)
• New Listings: 60 (Up 0.0% YoY, Down 27.7% MoM)
• Active Inventory: 277 (Up 20.4% YoY, Down 5.5% MoM)
• Months of Supply: 6.2 (Up 4.4% YoY, Down 20.2% MoM)

Condo sales showed a modest decline in median price, with longer market times suggesting buyer caution at lower price points. However, the increase in closed sales and stable list-to-sold ratios indicate sustained demand for well-located units. A $5.8 million condo in Empire Pass underscored investor confidence in ski-accessible properties.

Market Observations

• Cash buyers remained prevalent, especially in luxury segments.
• Single-family homes saw quicker sales despite a rise in days on market, reflecting seasonal momentum.
• Condo inventory growth provided buyers with more options, though price sensitivity was evident.
• Competitively priced properties across both segments moved swiftly.

Economic Context

August 2025 brought a stable economic outlook with moderated inflation and a pause in tariff escalations, boosting buyer confidence. Global market trends, including steady ECB rates, supported liquidity for luxury investments, reinforcing Park City’s appeal as a wealth preservation asset.

Outlook

As fall approaches, the market is expected to maintain steady activity, with luxury segments leading the charge. Increased inventory may give buyers more leverage, particularly in the condo market, while single-family homes could see continued price growth.

Conclusion

August 2025 highlighted Park City’s resilient real estate market, driven by luxury demand and seasonal strength. For personalized guidance on buying or selling, contact REAL ESTATE IN PARK CITY today.

Park City Real Estate Market Update – July 2025

The Park City real estate market in July 2025 showed a moderate seasonal rebound. Activity picked up from June, with more closings in both single-family and condo segments, while high-end sales continued to define buyer interest. With inflation concerns and tariff tensions still looming, buyers showed a clear preference for luxury real estate as a hedge. Meanwhile, sellers adjusted to longer market times and a more price-sensitive audience.

Single-Family Home Sales Stats

• Median Sales Price: $2,497,000 (Down 14.3% YoY, Up 5.4% MoM)
• Closed Sales: 44 (Down 10.5% YoY, Up 18.9% MoM)
• Median Days on Market: 35 (Down 15.7% YoY, Up 105.9% MoM)
• List-to-Sold Price Ratio: 98.5% (Up 1.9% YoY, Up 1.0% MoM)
• Median Sold $/Sq Ft: $676 (Down 4.2% YoY, Down 2.5% MoM)
• New Listings: 86 (Down 9.5% YoY, Up 10.4% MoM)
• Active Inventory: 294 (Down 9.8% YoY, Down 1.0% MoM)
• Months of Supply: 6.7 (Up 4.0% YoY, Down 16.8% MoM)

Single-family home sales improved month-over-month, though the YoY numbers still reflect market recalibration. Buyers showed interest across a range of price points. The highest-priced home sale was a 10,300 sq ft residence in Promontory that closed at $13.5 million, followed closely by a $13 million transaction in Nakoma.

Condo & Townhome Sales Stats

• Median Sales Price: $1,300,000 (Up 4.0% YoY, Up 5.1% MoM)
• Closed Sales: 35 (Down 10.3% YoY, Up 6.1% MoM)
• Median Days on Market: 67 (Up 185.1% YoY, Up 458.3% MoM)
• List-to-Sold Price Ratio: 95.8% (Down 6.0% YoY, Down 2.0% MoM)
• Median Sold $/Sq Ft: $935 (Up 19.4% YoY, Up 3.3% MoM)
• New Listings: 83 (Up 22.1% YoY, Down 21.7% MoM)
• Active Inventory: 280 (Up 18.6% YoY, Up 7.0% MoM)
• Months of Supply: 8.0 (Up 32.2% YoY, Down 5.0% MoM)

Condos rebounded in value, but time on market rose. The longer sales cycle and dip in list-to-sold ratios suggest some hesitation among buyers at lower price points. Still, demand for well-located properties remained high. Silver Star saw a $5.6 million closing, and a condo in Empire Pass sold for $5.5 million, showing strong investor confidence in ski-accessible units.

Notable Sales Activity

• $13.5M – Promontory | 10,300 sq ft luxury home
• $13.0M – Nakoma home | Upper Deer Valley
• $5.6M – Silver Star condo
• $5.5M – Empire Pass condo

Market Observations

• Cash buyers continued to dominate, especially in luxury segments.
• Days on market spiked in the condo market, rising to 67 days—a 458% increase from June.
• List-to-sold price ratio for condos declined to 95.8%, signaling more negotiation leverage for buyers.
• Seller pricing remained a key differentiator—only competitively priced homes and condos saw quick movement.
• A noticeable spread is developing between new construction and resale homes, as buyers show a preference for newly built properties.

Economic Context

July 2025 brought a complex economic landscape. A pause in U.S.-China tariffs offered relief, but broader indicators—such as inflation, slower GDP, and mixed corporate earnings—continued to fuel uncertainty. In Europe, the ECB’s rate cuts provided some market stability, while crypto market optimism encouraged liquidity-driven purchases. These factors reinforced the appeal of Park City’s real estate for wealth preservation, particularly in the luxury tier.

Outlook

As Park City approaches late summer and the lead-up to fall listings, the market is showing clear segmentation. Well-priced homes in resort-adjacent communities continue to attract interest, while inventory growth gives buyers more options. Interest rate sensitivity is minimal in the top tiers, and we expect steady activity heading into Q3.

Conclusion

July 2025 showed that Park City's real estate market remains healthy, especially for luxury buyers. The team at REAL ESTATE IN PARK CITY remains active and prepared to guide clients through strategic negotiations, pricing, and timing.

For up-to-date insights or to explore your buying or selling options, contact REAL ESTATE IN PARK CITY today.

Park City Real Estate Market Update – June 2025

The Park City real estate market in June 2025 experienced a resurgence in seasonal activity. While economic headwinds seem to emerge every few months, buyers have benefited from increased inventory and faster sales cycles, while sellers have needed to remain competitive on pricing. With growing national uncertainty—including mixed signals from the Fed, tariffs, and corporate earnings—Park City continued to attract cash buyers and investors focused on luxury lifestyle and long-term security.

Single-Family Home Sales Stats

• Median Sales Price: $2,368,000 (Down 4.9% YoY, Down 39.3% MoM)
• Closed Sales: 37 (Up 19.4% YoY, Down 5.1% MoM)
• Median Days on Market: 28 (Up 211.1% YoY, Up 133.3% MoM)
• List-to-Sold Price Ratio: 97.5% (Up 1.3% YoY, Down 1.1% MoM)
• Median Sold $/Sq Ft: $693 (Down 2.0% YoY, Down 17.2% MoM)
• New Listings: 96 (Down 12.7% YoY, Up 10.3% MoM)
• Active Inventory: 290 (Down 4.6% YoY, Up 9.4% MoM)
• Months of Supply: 7.8 (Down 20.1% YoY, Up 15.3% MoM)

Single-family activity cooled from May but remained healthy overall. A broader range of price points entered the market, and buyers took longer to make decisions. List-to-close cycles averaged just under 60 days, reflecting a more deliberate buying environment. High-end demand persisted with several transactions above $6M, and seller concessions continued to vary widely across price tiers.

Condo & Townhome Sales Stats

• Median Sales Price: $1,237,500 (Down 10.0% YoY, Up 12.5% MoM)
• Closed Sales: 33 (Down 8.3% YoY, Up 13.8% MoM)
• Median Days on Market: 10 (Down 84.4% YoY, Down 44.1% MoM)
• List-to-Sold Price Ratio: 97.8% (Up 0.2% YoY, Up 1.3% MoM)
• Median Sold $/Sq Ft: $905 (Down 0.3% YoY, Up 23.6% MoM)
• New Listings: 106 (Up 58.2% YoY, Up 0.4% MoM)
• Active Inventory: 273 (Up 24.7% YoY, Up 7.9% MoM)
• Months of Supply: 8.3 (Up 36.0% YoY, Down 5.2% MoM)

The condo market rebounded from a steep decline in May. Prices recovered, inventory rose, and days on market fell sharply to just 10 days. Buyers acted quickly, especially for turnkey and resort-accessible properties. Median price per square foot surged as higher-end condos changed hands, driven by cash offers and investor interest.

Market Observations

• Approximately 75% of transactions were cash purchases, reinforcing the luxury market's insulation from interest rate volatility.
• Buyers continued to negotiate, with 5–10% price reductions common in homes priced $6M and up. Seller concessions varied, with more seen in the $1M–$6M range.
• Neighborhood activity remained strong in Promontory, Canyons Village, and Pinebrook, with active summer season traffic increasing interest by late June.
• Derrik & Co. continued strong performance with seven closings in 45 days.

Economic Context

June 2025 presented mixed economic signals: a temporary tariff pause between the U.S. and China provided markets with short-term optimism, while continued inflation and a contraction in GDP led to a cautious broader outlook. Buyers turned to Park City real estate as a stable hedge, contributing to high cash sales and demand for newer, well-located homes. ECB rate cuts and strength in the cryptocurrency markets added to global volatility but provided investors with some renewed liquidity.

Outlook

June marked a pivotal point as Park City transitioned from the shoulder season into the busy summer cycle. Luxury remains the defining segment, and while pricing is adjusting, demand continues to outpace many national markets. Whether you're looking to buy or sell, now is a strategic time to act—before further macroeconomic changes take shape in Q3.

Conclusion

June 2025 highlighted a resilient Park City market with seasonal strength. For tailored insights or help navigating the market, reach out to Derrik & Co. today.

Park City Real Estate Market Update – May 2025

The Park City real estate market trends in May 2025 reflected a mixed yet active shoulder season. With 39 single-family home sales and 29 condo closings, the market showed strength despite seasonal slowdowns and broader economic uncertainties. Notably, the market remains driven by cash-rich buyers, quick sales cycles, and strong interest in resort-adjacent neighborhoods.

Single-Family Home Sales Stats

• Median Sales Price: $3,900,000 (Up 72.2% YoY, 43.3% MoM)
• Closed Sales: 39 (Up 25.8% YoY, 11.4% MoM)
• Median Days on Market: 17 (Down 19% YoY and MoM)
• List-to-Sold Price Ratio: 98.6% (Up 2.1% YoY, 2.6% MoM)
• Median Sold $/Sq Ft: $837 (Up 33.3% YoY, 9.9% MoM)
• New Listings: 87 (Down 17.1% YoY, Up 89.1% MoM)
• Active Inventory: 259 (Down 0.4% YoY, Up 12.1% MoM)
• Months of Supply: 6.6 (Down 20.8% YoY, Up 0.6% MoM)

May brought a surge in new listings after a quiet spring, and pricing remains strong. Despite fewer listings compared to last year, homes moved quickly, with a median of just 17 days on the market. A $50,000,000 sale in The Colony and another undisclosed high-end transaction on Old Ranch Road indicate that Park City's luxury market is thriving. Of the 68 total sales in May, 31 were cash purchases, reflecting the continued dominance of affluent buyers.

Condo & Townhome Sales Stats

• Median Sales Price: $1,099,900 (Down 6.4% YoY, Down 36.8% MoM)
• Closed Sales: 29 (Down 21.6% YoY, Down 43.1% MoM)
• Median Days on Market: 15 (Down 65.9% YoY, Down 64.3% MoM)
• List-to-Sold Price Ratio: 96.5% (Up 0.2% YoY, Down 1.1% MoM)
• Median Sold $/Sq Ft: $732 (Down 32.3% YoY, Down 31.6% MoM)
• New Listings: 76 (Up 68.9% YoY, Up 18.8% MoM)
• Active Inventory: 249 (Up 18% YoY, Up 5.1% MoM)
• Months of Supply: 8.6 (Up 50.6% YoY, Up 84.8% MoM)

The condo market cooled in May with fewer sales and significant price compression compared to April. Despite fewer transactions, days on market dropped sharply, indicating high demand for the right properties.

Market Observations

• Cash is King: Approximately 45% of May sales were cash, showing Park City’s continued draw for high-net-worth buyers, insulated from interest rate swings.
• Luxury Price Adjustments: While many homes sold near their list price, several multimillion-dollar properties above $6M saw price reductions of 5–10%.
• Fast-Paced Market: Many homes went under contract in 30–60 days or less, despite it being shoulder season.
• Inventory Rising: The nearly 89.1% jump in new single-family listings month-over-month suggests seller confidence returning ahead of summer.
• Geographic Trends: High sales volumes concentrated in Canyons Village, Promontory, Pinebrook, and Park Meadows.
• Luxury Segment Strength: Eleven properties sold above $6 million in May, with custom homes, new construction, and large lots in demand.
• Seller Concessions Vary: Concessions ranged from $350 to over $21,000, more common in mid-range sales but largely absent in the top tier.

Economic Context

May is traditionally Park City’s shoulder season, wedged between ski season and summer tourism. While some businesses temporarily close and the pace slows, serious buyers remain. With mortgage rates still a concern nationally, Park City’s all-cash luxury segment stands out for its resilience. Many buyers are using this time to secure deals before inventory becomes more competitive in July and August.

Outlook

Expect a summer rebound as seasonal tourism picks up and inventory continues to rise, particularly in high-end areas like The Colony, Promontory, and Canyons Village.

Conclusion

Despite broader economic uncertainties and the slower shoulder season, Park City real estate shows strength, especially in the luxury segment. For more insight or to discuss your real estate goals, contact Derrik & Co. today.

Park City Real Estate Market Update – April 2025

April 2025 brought a modest pullback in transaction volume but steady pricing, as buyer activity adjusts to higher borrowing costs and broader economic uncertainty. Seasonal spring listings are coming online, yet limited supply continues to support values across Park City and Snyderville Basin.

Single-Family Home Sales Stats

• Closed Sales: 35
• Median Sales Price: $2,721,250 (Down from $3,140,000 in April 2024)
• Sold Price / Sq. Ft.: $762 (Down 1.6% from April 2024)
• List-to-Close Time: 96 days (Down from 113 days last April)
• New Pending Sales: 29 (Up from 28 in April 2024)
• Months of Supply: 6.1

April’s single-family median dipped from $3.14M last year to $2.72M, reflecting a shift in the mix of homes sold rather than a broad value decline. Closed sales fell slightly (35 vs. 38), but homes moved faster, selling in just over three months on average. Pending sales ticked up, and supply remains tight at just over six months, signaling that well-priced homes continue to draw buyers even as financing costs hover near 6.9%.

Condo & Townhome Sales Stats

• Closed Sales: 51 (Down from 59 in April 2024)
• Median Sales Price: $1,740,000 (Up from $1,380,000 last April)
• Median by Area: Park City and Deer Valley (84060): $3,325,000; Snyderville Basin (84098): $1,143,825
• Sold Price / Sq. Ft.: $1,070 (Up 8.6% from April 2024)
• List-to-Close Time: 84 days (Up by 19 days year over year)
• New Pending Sales: 30 (Down from 46 last April)
• Months of Supply: 4.4

Condo pricing rose to $1.74M, driven by activity in premium areas like Deer Valley, while overall closings fell. Attached homes are taking longer to sell—84 days on average—suggesting buyers are more selective amid economic “blips.” Supply at 4.4 months still favors sellers, particularly for units with ski-access or new-construction finishes.

Market Observations

• Median Price Holds: Single-family homes at $2.72M; condos at $1.74M—both within historical seasonal ranges.
• Transaction Pace Shifts: Homes are selling faster (96 vs. 113 days), while condos take longer (84 vs. 65 days) than last April.
• Supply Remains Limited: 6.1 months for houses, 4.4 months for condos—continuing to support pricing.
• Economic Headwinds: A slight cooling from rate and tariff uncertainty, though Park City’s cash-buyer market dampens short-term volatility.
• Luxury Segment Active: High-end contracts (e.g., $50M in The Colony) underscore resilience at the top of the market.

Economic Context

Interest rates are around 6.86% (vs. ~7% last year), and recent market volatility has tempered aggressive buying. New import tariffs, postponed, may affect construction costs in Q3–Q4, with the impact yet to be seen. A $50M contract in The Colony reinforces long-term demand.

Outlook

Inventory remains tight, and buyers continue to reward competitively priced listings and lifestyle-driven properties. The market is relatively flat, with potential for increased activity as spring progresses.

Conclusion

April 2025 highlights Park City’s market strength amid shifting financing and global trade conditions. Contact Derrik & Co., your local Park City Realtor and Certified Negotiation Expert, for tailored guidance on buying or selling.

Park City Real Estate Market Update – March 2025

As of March 2025, Park City's real estate market remains active and resilient, attracting buyers looking for the Park City lifestyle and long-term value. While external economic factors continue to generate discussion, local demand remains incredibly strong. The newly imposed tariffs and stock market adjustments set the stage for the next quarter, though their precise impact is yet to be fully processed.

Single-Family Home Sales Stats

• Closed Sales: 49
• Median Sales Price: $2,500,000 (Down slightly from $2,670,000 in February)
• List-to-Sold Price Ratio (Approx.): 96%
• Price Range: $800K – $16M+

In March, the median price for single-family homes in Park City eased to $2.5M, following February's $2.67M. This small month-over-month dip reflects the typical variability in high-end markets, where a few outlier sales can shift medians substantially.

Condo & Townhome Sales Stats

• Closed Sales: 72
• Median Sales Price: $1,550,000 (Down from $2,570,000 in February, normalizing after a spike due to concentrated luxury closings)
• List-to-Sold Price Ratio (Approx.): 97%
• Price Range: $300K – $9.3M

The median price for condos and townhomes adjusted to $1.55M in March, returning to typical levels after a spike in February driven by luxury closings.

Market Observations

• Buyer Activity: With 49 closed single-family sales and 72 condo transactions, the market maintained solid volume despite seasonal changes.
• Negotiation Margins: Sellers captured roughly 96–97% of their asking price, indicating that competitively priced properties moved quickly.
• Luxury Insights: Several transactions above $5M in both segments highlighted ongoing demand in upscale markets.
• Diverse Offerings: The broad price range in condos ($300K–$9.3M) catered to both entry-level and high-end buyers.

Economic Context

Tariffs imposed on imports from Canada, China, and Mexico, effective April 2, may affect construction materials like lumber and steel, with impacts likely emerging in the next quarter. Recent stock market volatility from tariff uncertainty has been mitigated by a high proportion of cash transactions and Park City’s status as a long-term investment. Deer Valley’s East Village expansion continues to fuel demand despite inventory being 30% below pre-COVID levels.

Outlook

While tariffs and market volatility signal potential changes, Park City’s resilient buyer base and high-end positioning are expected to mitigate short-term disruptions. The market’s steady outlook is reinforced by tight inventory and strategic new construction.

Conclusion

March 2025 underscored the strength of Park City's real estate market. For those considering buying or selling, staying informed about micro-market dynamics and broader economic trends is essential. Local expertise remains key to making well-informed decisions as the market evolves.

Park City Real Estate Market Update – February 2025

In February 2025, Park City, Utah, continues to attract buyers interested in quality homes and condominiums. With winter in full effect, the region draws individuals who value its proximity to ski resorts and a vacation lifestyle. Consistent snowfall and crisp temperatures have buyers examining properties with contemporary updates, dependable construction, and well-situated locations near local amenities.

Single-Family Home Sales Stats

• Closed Sales: 50
• Median Sales Price: $2,670,000 (Down from $3,362,500 in January)
• List-to-Sold Price Ratio (Approx.): 96%
• Price Range: $900K – $16.6M

In February, the median single-family home price in Park City settled at roughly $2.67M, lower than January's $3.36M. This month-over-month dip reflects the mix of ultra-high-end and moderately priced sales shifting the median.

Condo & Townhome Sales Stats

• Closed Sales: 65+
• Median Sales Price: $2,570,000 (Up sharply from $1,475,000 in January due to Founder's Place closings)
• List-to-Sold Price Ratio (Approx.): 97–98%
• Price Range: $327K – $9.7M

February condo sales showed a noticeable jump in median price to about $2.57M, well above January's $1.475M, partly due to multiple high-end transactions in the $5M–$9M range.

Market Observations

• Sales Volume: Fifty single-family homes and over 65 condo units closed, indicating continued buyer engagement despite winter conditions.
• Pricing & Negotiation: Sellers captured most of their asking prices (around 96–98%), with well-priced properties moving quickly and overpriced listings lingering.
• Luxury Segment Influence: Sales above $5M, including ski-in/ski-out and new construction properties, drove the median upward, while sales under $2M and $1M offered diverse options.

Economic Context

The market remains active with properties updated to meet current standards, making Park City appealing during winter. The high proportion of cash transactions and focus on lifestyle-oriented investments support resilience amid seasonal conditions.

Outlook

With winter winding down, keep an eye on new listings. More options could emerge in spring, potentially affecting pricing and sales pace as the market transitions.

Conclusion

February 2025 in Park City saw single-family prices ease while condo prices spiked due to upscale transactions. Buyers remain engaged, and competitively priced sellers capture strong returns. Local market expertise is essential for informed buying or selling decisions.

Park City Real Estate Market Update – January 2025

The Park City real estate market remains strong but evolving in January 2025. While prices for single-family homes are stabilizing, the condo market is seeing strong upward momentum. Inventory is growing, providing more opportunities for buyers, but demand remains high.

Single-Family Home Sales Stats

• Median Sales Price: $3,362,500 (▲ 35.2% YoY, ▼ 3.7% MoM)
• Closed Sales: ▲ 25.6%
• Median Days on Market: ▲ 154.3%
• List Price Received: 95.3% (▼ 1.7%)
• Median Sold Price per Sq Ft: $941
• Active Inventory: 137 (▲ 65.7% YoY, ▼ 14.3% MoM)
• Months Supply of Inventory: 4.3

The single-family home market saw significant year-over-year price appreciation (35.2%), though a 3.7% month-over-month decline suggests stabilization. Inventory increased 65.7% from last year, offering more options, but homes stayed on the market 154.3% longer, indicating cautious buyer behavior. Sellers still received 95.3% of their list price, reflecting steady demand.

Condo & Townhome Sales Stats

• Median Sales Price: $1,475,000 (▲ 27.2% YoY, ▲ 57.2% MoM)
• Closed Sales: ▲ 2.9%
• Median Days on Market: ▲ 51.9%
• List Price Received: 98.0%
• Median Sold Price per Sq Ft: $1,116
• Active Inventory: 180 (▼ 1.5% YoY, ▲ 6.7% MoM)
• Months Supply of Inventory: 6.5

The condo market experienced a significant 57.2% month-over-year price jump to $1.475M, with a 27.2% year-over-year increase highlighting demand. Sales volume rose 2.9%, and the 6.5-month supply suggests a balancing market. Despite a 51.9% increase in days on market, sellers received 98% of their asking price.

Market Observations

• Price Trends: Single-family homes continue to appreciate, but growth is slowing month-over-month, while condos saw a price surge.
• Market Balance: Higher inventory levels are giving buyers more choices, improving market balance.
• Buyer Selectivity: Longer days on market indicate buyers are more selective than in impulsive periods.
• Seller Position: Most properties are closing near the asking price, keeping sellers in a strong position.

Economic Context

The market’s evolution is supported by growing inventory and sustained demand, providing a dynamic environment for both buyers and sellers in early 2025.

Outlook

For buyers, this is a great time to explore options while inventory increases. For sellers, competitive pricing and patience will be key in this shifting market.

Conclusion

January 2025 reflects a robust yet evolving Park City real estate market. For personalized guidance, contact us to discuss your options.