Park City Real Estate Trends | Updated August 2025

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.

June 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.

Recap of June 2025 of Real Estate in Park City

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.

For tailored insights or help navigating the Park City market, reach out to Derrik & Co. today.

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 real estate market remains driven by cash-rich buyers, quick sales cycles, and strong interest in resort-adjacent neighborhoods.

Single-Family Home Sales Stats in Park City Limits

• 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 Active 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 in this high-demand segment.

Condo & Townhome Sales Stats

• Median Sales Price: $1,099,900 (Down 6.4% YoY, Down 36.8% MoM)
• Condo Unit 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.

Key Market Patterns and Economic Insights

• 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, particularly those 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. Custom homes, new construction, and large lots were especially in demand.
• Seller Concessions Vary: From $350 to over $21,000, concessions were more common in mid-range sales but largely absent in the top-tier.

Neighborhood Activity Snapshot

• Canyons Village: 9
• Promontory: 7
• Park Meadows: 6
• Pinebrook: 6
• Jeremy Ranch: 5
• Silver Creek South: 5
• Kimball Junction: 5
• Old Town: 3
• Lower Deer Valley: 3
• Old Ranch Road: 3
• ...and other Park City Neighborhoods including Glenwild, Empire Pass, Upper Deer Valley, Sun Peak, Silver Creek Estates, and Trailside.
• Total Sales Volume: $326,231,020
• Sales Under $1million: 13
• Sales Over $5million: 20

Seasonal and 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.

Key Takeaways

• The single-family increase in median price was 72.2% year-over-year, driven by luxury demand, and shows how in a small market, numbers don't tell the whole truth.
• The condo market has softened but remains competitive for turnkey properties in top locations.
• Cash buyers made a large portion of purchases, shielding the market from interest rate pressures.
• Days on market dropped across the board—down 19% for homes and over 64% for condos.
• High-end areas like The Colony, Promontory, and Canyons Village continued to perform well.
• Expect a summer rebound as seasonal tourism picks up and inventory continues to rise.

Conclusion

Despite broader economic uncertainties and the slower shoulder season, Park City real estate shows strength, especially in the luxury segment. Whether you're buying or selling, working with a knowledgeable Park City Realtor can help you navigate this dynamic environment.

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

Key Metrics – April 2025

• 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

Market Overview

April’s single-family median dipped from $3.14 M last year to $2.72 M, 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

Key Metrics – April 2025

• 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

Market Overview

Condo pricing rose to $1.74 M, 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.

Economic Context & Forward Outlook

• Interest Rates & Stock Market: Mortgage rates are around 6.86% (vs. ~7% last year), and recent market volatility has tempered aggressive buying.
• Tariff Uncertainty: New import tariffs that have been postponed may affect construction costs in Q3–Q4, but the precise impact remains to be seen.
• Local Developments: A $50 M contract in The Colony reinforces long-term demand.

Key Takeaways

• Median Price Holds: Single-family homes at $2.72 M; condos at $1.74 M—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: There has been a slight cooling from rate and tariff uncertainty, but Park City’s cash-buyer market dampens short-term volatility.
• Luxury Segment Active: High-end contracts (e.g., $50 M in The Colony) underscore resilience at the top of the market.

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.

This update provides a detailed look at recent sales data for single-family homes and condominiums and insights into pricing trends and buyer behavior.

Park City Single-Family Home Sales Stats

Key Market Statistics – March 2025

• 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+

Market Overview

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

• Buyer Activity: With 49 closed sales, the market maintained solid transaction volume even as seasonal conditions began to change.
• Negotiation Margins: Sellers continue to capture roughly 96% of their asking price, signaling that competitively priced homes are moving quickly.
• Luxury Insights: March saw several transactions in the upper price tiers, including multiple sales over $5M, alongside a healthy number of transactions in more moderately priced segments.

Park City Condo & Townhome Sales Stats

Key Market Statistics – March 2025

• 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

Market Overview

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.

• Volume Holds: With 72 closed transactions, condo and townhome activity underscores strong buyer interest and activity.
• Diverse Offerings: The broad price range from $300K to over $16M indicates a balanced market catering to entry-level and high-end buyers.

Broader Context: Economic Trends & Market Resilience

Tariffs imposed on imports from key trading partners like Canada, China, and Mexico are set to affect construction materials such as lumber and steel. Implemented as of April 2, their precise impact on building costs remains uncertain. Given Park City's high median home values, market analysts expect any potential increases to be absorbed over time, with effects likely emerging in the next quarter.

In addition, recent stock market adjustments have introduced some volatility, with notable declines following tariff-related uncertainty. However, Park City is less susceptible to these swings due to a high proportion of cash transactions and the market's status as a long-term, lifestyle-oriented investment.

Developments like Deer Valley's expansion—especially the growing East Village project—continue to fuel demand, even as inventory remains approximately 30% below pre-COVID levels. This combination of scarcity and strategic new construction reinforces the market's steady outlook.

Key Takeaways for March 2025

• Stable Single-Family Market: The slight dip in the median home price to $2.5M is within the normal range for this luxury market.
• Condo Market Rebalancing: Condo pricing returned to typical levels at $1.55M, following a temporary spike in February.
• Consistent Buyer Demand: Healthy transaction volumes across both market segments indicate ongoing buyer engagement.
• Forward-Looking Economic Adjustments: 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.
• Ongoing Luxury Demand: High-value sales demonstrate robust demand in Park City's upscale segments.

Conclusion

March 2025 has once again underscored the strength of Park City's real estate market. While external factors such as new tariffs and recent stock market movements will be closely watched in the coming quarter, local fundamentals—tight inventory, diverse property offerings, and sustained buyer interest—continue to drive market confidence.

For those considering buying or selling in Park City, staying informed about micro-market dynamics and broader economic trends is essential. Local expertise remains the key to making well-informed real estate 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 living life on vacation. With consistent snowfall and crisp winter temperatures, many buyers are examining properties that feature contemporary updates, dependable construction, and well-situated locations near local amenities such as dining, shopping, and public services. The market is active, with properties updated to meet current standards and preferences, making Park City an appealing option during winter.

This update presents detailed sales statistics and insights into recent market trends for detached homes and condominiums in Park City. Readers can understand this month's market activity and the factors influencing current buyer behavior by reviewing key metrics like sales volume, median prices, and list-to-sold price ratios.

Park City 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

• Sales Volume: Fifty single-family homes closed in February, indicating continued buyer engagement despite winter conditions.
• Pricing & Negotiation: Sellers still capture most of their asking prices (around 96%), showing that well-priced properties move quickly, while overpriced listings may linger.
• Luxury Segment Influence: Properties above $5M and even $10M sold this month, reflecting ongoing interest at the top of the market. At the same time, several sales under $2M also occurred, contributing to a wide price spread.

Park City Condo 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

• Sales Volume: Over 65 condo units closed, suggesting buyers continue seeking out Park City's multi-unit and resort-style properties, even in the heart of winter.
• Luxury Condo Demand: Ski-in/ski-out developments, new construction projects, and exclusive complexes (e.g., Empire Pass, Deer Valley) fetched strong prices, driving the median upward.
• Attainably Priced Options: On the other end of the spectrum, several sales under $1M prove that opportunities still exist for buyers looking for a foothold in Park City's condo market.

Key Takeaways for February 2025 Real Estate Statistics

1. Median Single-Family Price Eases
   At $2.67M, February's single-family median is down from January, which reflects the mix of properties sold rather than an overall decline in values.
2. Condo Median Surges
   The condo median soared above $2.5M, heavily influenced by a cluster of luxury closings at Founder's Place. Month-to-month condo data can be volatile due to various product types and price points.
3. Steady Demand
   In February, Healthy closing numbers for single-family homes and condos pointed to ongoing buyer interest across multiple price tiers.
4. High-End Market Remains Active
   Sales in the $5M—$10M+ range underscore the resilience of Park City's luxury segment, particularly for ski-access and new construction properties.
5. Watch Inventory & Days on Market
   With winter slowly winding down, keep an eye on new listings. More options could emerge in spring, affecting pricing and how quickly properties sell.

Conclusion for February 2025 Park City Market Update

February 2025 in Park City saw two contrasting trends: single-family prices pulled back from January's highs, while condo prices spiked due to a flurry of upscale transactions. Overall, buyers remain engaged, and sellers who price competitively still capture the lion's share of their asking prices.

As always, local market expertise is essential if you're looking to buy or sell in Park City. Whether you're aiming for a ski-in/ski-out condo or a luxury single-family retreat, staying on top of shifting inventory, pricing trends, and neighborhood nuances will ensure you make the most informed decision.

Park City Real Estate Market Update – January 2025

Key Market Statistics - Park City Homes

• 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

Single-Family Home Market Overview

The single-family home market in Park City saw significant year-over-year price appreciation, with a 35.2% increase in median sales price compared to January 2024. However, on a month-over-month basis, prices declined by 3.7%, suggesting some market stabilization.

Inventory has increased 65.7% from last year, offering more options for buyers. However, homes stay on the market 154.3% longer, reflecting a cooling demand or more cautious buyer behavior.

Despite these changes, sellers still receive a solid 95.3% of their list price, indicating steady demand, even as price growth slows.

Key Market Statistics - Jan 2025 | Park City Condos

• 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

Condo Market Overview

The condo market in Park City experienced a significant month-over-month price jump of 57.2%, reaching a median sales price of $1.475M. Year-over-year, prices are up 27.2%, highlighting continued demand for multi-unit properties. Remember that just a few small or very large sales can swing statistics.

While sales volume has only increased by 2.9%, active inventory remains relatively stable, with 180 units available. The 6.5-month supply of inventory suggests the market is moving toward a more balanced state.

Although days on the market have increased by 51.9%, sellers still receive 98% of their asking price, indicating strong buyer interest.

Key Takeaways for January 2025

1. Single-family homes continue to appreciate, but price growth is slowing month-over-month.
2. Condos experienced a price surge, with demand keeping list-to-sale ratios high.
3. Market balance is improving, with higher inventory levels giving buyers more choices.
4. Longer days on the market indicate buyers are more selective than when purchasing impulsively.
5. Sellers are still in a strong position, as most properties are closing near the asking price.

Conclusion

The Park City real estate market remains strong but evolving. 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.

For buyers, this is a great time to explore options while inventory is increasing. For sellers, competitive pricing and patience will be key in 2025's shifting market.