Home Building Costs in Park City, Utah

Building in Park City, Utah: Real Estate Information, Newly-Built Homes, and Lots for Sale

Building a home in Park City, Utah, can be daunting, but it can also be a rewarding experience with the right information and resources. As your trusted Park City Realtor, the Carlson Real Estate Team is here to provide the guidance you need to make informed decisions and turn your dream of owning a home in Park City into a reality.

The costs involved are among the first things to consider when building a home in Park City. It is important to have a realistic budget and work with a reputable builder who can help you stay within that budget. The Carlson Real Estate Team has years of experience working with builders, architects, and designers in the area. As a result, we can provide valuable insights into the costs of building a home in Park City.

Another important factor to consider is the real estate market in Park City. With a strong and growing economy, Park City has become an increasingly popular place to live, work, and play. This means that the real estate market in the area can be competitive, but with the help of the Carlson Real Estate Team, you can navigate the market and find the perfect lot or newly built home that meets your needs.

Many great options are available in Park City regarding lots and newly built homes. Whether you're looking for a ski-in-ski-out lot on one of the area's ski resorts, a secluded mountain retreat, or a luxurious home in one of the golfing communities, the Carlson Real Estate Team can help you find exactly what you're looking for in a property.

Introduction

We'll also discuss some of the top areas for building a home in Park City, such as the golf communities of Park City and areas like Tuhaye and Red Ledges, which offer a similar lifestyle to Park City but are outside the city limits. For those seeking ski-in-ski-out properties, we'll explore the available lots for sale at the ski resorts in Park City, where you can enjoy unparalleled access to world-class skiing and snowboarding.

Furthermore, we'll dive into the Jordanelle real estate market, an area poised for significant growth in the next two decades, thanks to the development around the reservoir and the new Deer Valley East Village. We'll also discuss The Colony, an exclusive gated community in the Canyons area that offers exceptional ski-in-ski-out access, privacy, and breathtaking mountain views. It is a popular choice for those looking to build their dream home.

Building a home is a significant investment, and it's important to have the right information and resources to make informed decisions. Whether you're a first-time home builder or an experienced developer, this article will provide valuable insights and tips to help you navigate building a home in the Park City area.

Homebuilding in Park City, Utah

Building a new home in Park City, Utah, presents opportunities and challenges in the current real estate market. The demand for new construction remains strong, and the area's population continues to grow, creating a need for more housing options. However, the cost of building a custom home has risen due to the increasing prices of materials and labor, and there is a limited supply of high-quality land for sale.

Despite these challenges, the market for newly built homes in Park City and the surrounding areas continues to thrive. If building a custom home is on your agenda, it's crucial to work with an experienced and knowledgeable real estate agent and builder who can help you navigate the unique factors that can impact your construction project.

Alternatively, if building a home isn't within your current timeframe, many newly built properties in Park City are for sale that offer the latest amenities and modern designs. Contact me for more information on building a new home or explore the available properties for sale in the area.

The Cost of Building a Custom Home in Park City, Utah: A 2025 Guide

If you're considering constructing a custom home in the surroundings of Park City, Utah, understanding finances is a crucial first step. As of April 2025, the journey to realizing your dream home in this sought-after location begins with construction costs starting at around $600 per square foot. This initial estimate sets the stage for expenses, excluding the cost of land and landscaping.

For those drawn to the signature "Park City" style finishes, budget considerations adjust to approximately $700 per square foot. Meanwhile, luxury finishes will see costs escalate to $875+ per square foot, reflecting the premium for high-end materials and architectural design.

The ultra-luxury homes featuring exotic materials can command prices exceeding $1,500 per square foot. Additionally, the Park City luxury real estate market showcases properties on the MLS starting at $1,150+ per square foot, varying by lot location and attributes.

For comparison, as of now, the most accessible entry point for those coveting ski-in-ski-out homes in Park City is $1,688 per square foot. This price point represents the starting line for accessing the slopes directly from your doorstep. On the other hand, new constructions within the golf community Promontory begin at approximately $1,000 per square foot, offering a blend of luxury and access to exclusive amenities without the premium of slope-side access. This comparison highlights the diversity in pricing and lifestyle options available in Park City's real estate market, catering to various preferences and budgets.

The cost of building is expected to rise in 2025 and 2026—keep reading below to learn why.

Important: If You Are Thinking About Building Soon! (April 2025)

Land Update for Spring 2025

As of January 2025, the building sector is experiencing a subtle yet promising change, with costs inching down. This shift comes after a challenging period highlighted by supply chain disruptions that increased building expenses and heightened buyer hesitancy. With these obstacles largely behind us and a stable inventory in place, interest in embarking on personal homebuilding ventures in locales like Park City is seeing a revival. This is a significant turnaround from the cool land market observed over the last 12 to 18 months.

This period of slowed land sales has created an opportune moment for prospective buyers. Currently, some land listings are being offered at prices lower than their peak in 2022, when available real estate was scarce.

Furthermore, it's worth noting that well-priced, newly built homes are rapidly moving off the market. This trend underscores the continued demand for turn-key properties, signaling that while the market for plots of land is beginning to recover, the appetite for ready-to-occupy homes remains robust. This dynamic offers a compelling insight into the current state of real estate, suggesting that despite previous challenges, the sector is adjusting, with opportunities for both builders and buyers alike.

Thinking of Building a Home in Park City?

If you're considering building and looking for land for sale in Park City, you'll want to View Vacant Land for Sale in Park City. The pricing of lots will depend on views, location, ski access, supply, demand, etc. Unfortunately, quality parcels closer to the ski resorts and around the Park City limits are becoming increasingly difficult to find. 

When considering building a home in Park City within the next few years, I'd start looking now to watch for a great lot. I've had several clients choose to renovate properties or existing construction because of the location, views, and ease of buying something already built.

Every area in Park City has pluses and minuses when building a home. For example, if you would like to build a home in Old Town, you'll essentially shut off a section of the street and may have to hire additional flaggers. On the other hand, when building in Promontory, the excavation dirt typically needs to be removed from the site. These are two examples of why you want to work with an experienced builder and realtor who understands the nuances of land.

Understanding the Costs of Remodeling in Park City: Homes and Condos

Embarking on a remodeling journey in Park City, Utah, whether for a home or condo, requires a clear understanding of the associated costs. On average, remodeling costs start around $175 per square foot, but expenses can escalate to $450 or more per square foot for those with a taste for luxury and exotic finishes. Achieving the "Park City" aesthetic typically costs around $250 per square foot.

A client recently remodeled their Deer Valley condo in 2024, incorporating a modern kitchen, luxurious bathrooms, and a reimagined floor plan. This extensive renovation cost $200 per square foot, reflecting the high quality of finishes and meticulous attention to detail that characterized the project.

Popular Areas to Build a Home in Park City, Utah

If you're considering building a home in the Park City area, there is vacant land for sale in Park City. Over the past few years, many buyers have chosen to build in the golfing communities of Park City to enjoy the highly luxurious amenities. For those nongolfers,  the ski-in-ski-out lots for sale on the ski resorts in Park City have been popular.

Deer Valley land presents a diverse selection, making it an exceptional opportunity for those seeking to build their dream home in one of Utah's most breathtaking and sought-after locales. This idyllic region, nestled within the landscapes of Park City, holds a special place in the hearts of those who appreciate the natural beauty and tranquility that define the area.

Derrik & Co.: Your Top Choice for New Construction

If you're considering building a new home, it's important to have a team of professionals who can guide you through the process from start to finish. Derrik & Co. is the perfect choice for those looking to build their dream home in the Park City area. With years of experience selling land and working with builders, architects, and designers, the Carlson team has the knowledge and connections to bring your vision to life.

One key benefit of working with the Carlson team is their experience in land sales. Whether looking for a specific neighborhood or a secluded mountain retreat, they can help you find the perfect land to build on. With a deep understanding of the local market and extensive knowledge of zoning and building regulations, the team can help you navigate the complexities of land acquisition and find a property that meets your needs and budget.

Once we've found the right piece of land, the Carlson team can connect you with builders, architects, and designers who can help bring your vision to life. In addition, the team has developed relationships with some of the top professionals in the area, so you can trust that you'll be working with experienced and talented individuals who share your commitment to quality and craftsmanship. So whether you're looking for a rustic mountain cabin or a sleek modern home, the Carlson team can help you find the right team of professionals to bring your dream home to life.

In conclusion, Derrik & Co. is the top choice for real estate guidance and exceptional service if you want to build a new home in Park City. With years of experience selling land and connecting clients with top builders, architects, and designers, the Carlson team has the knowledge and connections you need to make your dream home a reality. Contact them today to learn more about how they can help you build the home of your dreams.

Why Working with a Realtor is Important When Building a Home

Recent Story #1: A Story of Value Addition: Keeping Clients Informed

I want to share some real-life stories about how I provide value to my clients. Recently, I've been engaged in email exchanges with a client while working on a blog post. In this case, I'm assisting a couple who want to sell their home and build a new one.

The Scenario

Last week, I received a message from an agent in California who reached out on behalf of his brother, Todd, and Todd's wife, Teresa (names changed for privacy). Todd and Teresa are in the process of building their dream home in Park City. They decided to work directly with a builder in a new subdivision and reserved a piece of land for their future home.

The Challenge

However, things took an unexpected turn. The developer and builder decided to reconfigure the land into smaller phases, a common practice in the Park City area that often leads to price increases. Todd and Teresa were unaware of this and had no clarity on the potential price hike. Teresa tried to get answers from the developer's agent but received vague responses, with the developer suggesting they'd only know the price increase once the land was officially recorded.

Client's Involvement

Like many clients, Todd and Teresa closely monitor the real estate market, research the development and builders, and attend city council meetings to stay informed. They discovered that the phase wasn't on the city council's agenda yet. When they sought more transparency from the developer, they were offered a refund of their deposit and told they weren't the right fit for the project.

The Resolution

It's crucial to note that this issue wasn't about finances but the client's right to be well-informed. They had valid questions about their investment and wanted transparency, which is entirely reasonable. As a result, I stepped in to assist Todd and Teresa, ensuring they received the information they deserved and helping them navigate the situation to protect their interests.

In this story, I emphasize the importance of informing clients, especially when making significant real estate decisions. It's not just about the transaction; it's about ensuring clients clearly understand their investments and are empowered to make informed choices.

Recent Story #2: A Story of Perseverance: Securing the Perfect Condo in Park City

I recently received a call from a buyer looking to make Park City her third home, particularly for enjoying summer vacations. In just ten minutes, we narrowed her search to four areas within Park City that perfectly suited her preferences. A week later, she visited the town.

During her first visit, she fell in love with a specific area and found a beautiful condo with stunning views that seemed tailor-made for her. However, there was a challenge – the demand for condos in the area was incredibly high, making it nearly impossible to secure a reservation. We learned we had missed the first phase, but there was hope for the next development phase.

I'm quite competitive and love challenges, so I researched the developers and their processes. I tracked down the developer's contract and submitted offers every few days. Our persistence eventually paid off, as a buyer canceled their reservation in the first phase, and we secured a brand-new condo in the Park City area that checked all the boxes for our client.

This victory was even sweeter because our client could obtain the original pricing, saving her thousands of dollars. This was especially remarkable given that other buyers hoped for a lottery-like opportunity to purchase properties.

This story underscores the importance of determination and tenacity in the real estate market. We went the extra mile to help our client secure her dream condo in Park City, proving that persistence can lead to extraordinary outcomes in the competitive real estate landscape.

If you're contemplating the costs of constructing a home in Park City and considering building a house or purchasing a developer's product, don't hesitate to contact me. I'm here to ensure that building your dream home is as smooth and straightforward as possible.

Contact Your Trusted Park City Realtor for Professional Real Estate Guidance

If you have any questions about building your dream home in Park City or would like to learn more about the real estate market in the area, please don't hesitate to contact us using the phone number at the top of this page or the contact form below. We aim to serve you well and build a lasting relationship where you know you can rely on us as your trusted Park City Realtor for life.

With years of experience representing luxury land buyers and sellers throughout Park City, Deer Valley Resort, and the surrounding area, we have the knowledge and expertise to help guide you through the buying or building process and achieve your real estate goals.

Historical Information of Building During COVID-19:

I spoke with a builder recently to see how the Coronavirus has changed the landscape of buildings in the Park City area. He stated that until now, not much has changed in the cost of labor, but he has been able to reduce the cost of framing and stonework on recent projects. 

Homebuilding goods have been readily available, but there are occasional issues with appliances and having to select different options for tiles or carpets because the supplier may be running low. Lighting fixtures seem to be the biggest challenge, but there have been easy workarounds where building jobs haven't stalled. We'll see what happens in the next couple of months with the lumber costs back down, but with the current demand for new construction, will the market be relaxed within the next 12 months?

If we could stop time and allow builders to build for four years, then bring all that construction back to today, I think we would sell through the imaginary inventory within eighteen months. Unfortunately, we do not have enough inventory of newly built homes and condos to satisfy the demand for newly built properties. I've worked with multiple clients looking for new construction that want to buy within the next few months, and there are only four to five options for them in a vast geographical area.

Additional Links You May Find Helpful

The Hidden Costs of Park City Building: Decks, Garage, & Steel: This comprehensive guide delves deep into the often-overlooked expenses that can significantly impact the budget and outcome of building a luxury home.

The Park City New Construction page offers a comprehensive resource for those interested in purchasing a newly built home or condo in the Park City area. The site showcases many new construction properties, including single-family homes, townhomes, and condos, each with unique designs and features. With helpful search filters and a user-friendly interface, the site makes finding the perfect property for your needs easy. Additionally, we provided detailed information about Park City's various neighborhoods, amenities, and attractions, making it a valuable resource for those unfamiliar with the area.

The Park City Communities page provides a comprehensive overview of the various neighborhoods and developments in the Park City area. From the historic downtown district to the upscale enclaves of Deer Valley, each community has its unique character and charm. The page includes in-depth information about each neighborhood, including property types, amenities, and nearby attractions. So, whether you're looking for a ski-in-ski-out property or a home with easy access to hiking trails, the Communities page can help you find the perfect neighborhood for your lifestyle. Additionally, the page offers an easy-to-use search tool that allows you to filter listings by community, price range, and property type, making it easy to find the perfect home in the Park City area.

The Park City Real Estate Map Search page is a powerful tool for buying property in the Park City area. With a constantly updated database of properties, the IDX page provides an extensive selection of homes, condos, and townhouses, each with unique character and amenities. In addition, the page's intuitive search interface allows you to easily filter listings by location, price range, property type, and specific features like ski-in-ski-out access, nightly rentals, and more. Whether you're a first-time homebuyer or a seasoned investor, the IDX page provides a wealth of information about the Park City real estate market, including detailed property descriptions, high-quality photos, and interactive maps. With its user-friendly interface and comprehensive database, the Park City IDX page is the perfect tool for finding your dream home in one of Utah's most desirable locations.

Editor's Note:  This post, originally published on May 24, 2018, has undergone multiple updates to enhance its accuracy, relevance, and usability after an update on March 4, 2024, which focused on the cost of building and remodeling homes and condos in Park City, a subsequent update was completed on April 2, 2024. This latest revision, finalized in April 2025, includes the most current insights into building costs, land values, and construction trends in Park City. The information in this write-up is subject to change.

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• New Construction (23)
• ski-in-ski-out (14)
• luxury real estate (7)
• Golf Communities (7)
• Cost to Remodel (1)
• Cost to Build (1)