Park City, Utah Land Listings and Information
This page will show every land listing currently for sale on the Park City MLS. Also, read about how land is becoming scarce in Park City and some additional strategies to find the perfect parcel to build your new home. Park City MLS land listings include the areas of Deer Valley to the top of Park City.
Land for sale in Park City, Utah, is becoming more challenging to find. For years, I've been telling buyers that other towns in North America have been at a higher price point because of the supply and demand of available land. But only recently have we felt like lots for sale are becoming unattainable in some neighborhoods in Park City.
If you're considering building your dream home in Park City, I suggest you read our in-depth analysis of the cost of building a home here in the Park City area.
Many buyers we have worked with over the past few years have chosen to purchase in the golf course communities of Promontory and Tuhaye. Buyers enjoy these high-amenity communities because there are plenty of activities on-site, and they can buy land with extensive views.
Most of the vacant parcels for sale are in the Promontory community. Otherwise, parcels of land are scattered throughout the town. The most luxurious to build a home in Park City tends to be in the gated communities of Park City. Our Park City Homes for Sale page will explain more about "What are the Best Park City Gated Communities."
If you are searching for a parcel of land just outside the Park City area, you may want to consider real estate in the Jordanelle area. Owners in Jordanelle enjoy easy access to Park City, boating, fishing, and the new ski resort of Mayflower.
Park City, Ut Land REALTOR
We've sold more parcels of land than most Park City agents in the past few years. We sell so much real estate because of our connections with builders, architects, and designers. While builders may be hard to come by for some buyers, we have designed our Park City Home Builder Services for Buyers program has allowed us to help make the building process as easy as possible for the land buyer.
Call us to discuss building on vacant land in Park City, Utah. This page shows every parcel of land for sale in Park City, Utah. There are great off-market opportunities that are worth discussing. For those looking to build a luxury ski home, we also have a webpage for ski-in-ski-out land for sale in Park City and Deer Valley.
In communities like Park Meadows, we have seen buyers purchase a low-priced home and either completely remodel the property or tear the house down and rebuild a new Park City mountain modern home. Old Town has seen many old miner homes raised and a new foundation built so that the houses are like new. As land inventory becomes more scarce, it is wise to keep your options open and be creative in building what you want out of your new home.
Historical Analysis of Park City Land Sales (2017–2024)
The historical sales data for land in Park City from 2017 to 2023 reveals several key trends. As of October 2024, approximately 84 lots have been sold, indicating further shifts in the market.
From 2017 through 2019, land sales remained relatively steady, fluctuating between 118 and 178 yearly sales. However, in 2020 and 2021, we saw a significant surge in land transactions, with sales reaching 284 in 2020 and an all-time high of 287 in 2021. This spike in sales was likely driven by several factors, including:
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Pandemic-Driven Demand: During the COVID-19 pandemic, many buyers sought larger properties, open spaces, and vacation homes in areas like Park City. The shift to remote work allowed people to live further from city centers, spurring demand for land in resort destinations.
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Low Interest Rates: Historically, low interest rates in 2020 and 2021 made real estate investments more attractive, further driving up land sales during this period.
Current Market Conditions in 2024
As of October 2024, there have been approximately 84 land sales, slightly improving from 2023 but still far below the highs in 2020 and 2021. Several factors likely explain this modest recovery:
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Stabilizing Interest Rates: While interest rates remain higher than in previous years, they have stabilized, allowing buyers to adjust to the new financial environment. Some buyers may be more comfortable purchasing, even with higher borrowing costs.
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Increasing Demand for Long-Term Investment: Land in Park City remains a valuable long-term investment, especially for those seeking to build custom homes or hold onto property as the region develops.
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Strong Demand for Mountain Resort Living: Park City remains a highly desirable location for second homes and vacation properties, driven by its proximity to world-class skiing and year-round recreational activities. Buyers with the financial capacity are still interested in acquiring land despite higher costs.
Outlook
While we don't expect a return to the record-high sales of 2020 and 2021, the steady demand for land in Park City will likely continue, especially as available inventory in resort communities remains limited. As construction costs and interest rates potentially stabilize further, land sales could see moderate growth in the coming years, driven by buyers looking for custom homes or long-term investments in Park City’s real estate market.
What You Should Consider When Buying Park City Land
When buying a parcel of land to build your home, you should consider What to Know Before Buying Land in Park City, Utah, and how the home will sit on the lot to capture the best views and sunlight. It is wise to have a builder and architect involved early on in the process. You will want to speak with the builder about the home style you want to build and the price to build a home with the desired finish level.
An uphill vs. downhill build can make a difference as well. Typically, downhill builds are more desirable because having the kitchen near the garage and easy access to daily activities like bringing in groceries is easier.
Land Loans in Park City, Utah
Financing land is different than a traditional mortgage in many ways. Banks or mortgage lenders tend to require more money down and a higher interest rate because the loan risks are higher. Ten to twenty acres are typically considered typical when financing land in the Park City area.
If you are considering financing land, we work with lenders, allowing buyers to finance $1,250,000 with twenty percent down or up to $2,600,000 with 25% down.
However, the lender may require an additional 5% down if the lot is unimproved without roads or utilities. Loan amounts can go as high as $10,000,000 with no pre-payment penalties, balloons, or construction contract requirements. *This information is Current for 2023; however, Mortgage programs and information can change without notice.
