Park City’s real estate market in 2025 continues to attract attention for its strong performance, with luxury properties remaining the primary driver of sales and price growth. Here’s a concise overview of the latest trends, supported by recent data and market analysis.
Market Performance and Pricing
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The median sales price for single-family homes within Park City limits has reached $5 million, up 7.3% from last year, reflecting persistent demand for high-end properties.
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Across Greater Park City, the median sales price for Q1 2025 stands at $2.546 million, a 52.9% increase year-over-year. The average sales price is $3.668 million, up 35.7% from the previous year.
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Condo prices have also surged, with a median of $1.475 million in January 2025, up 27.2% year-over-year and 57.2% month-over-month, showing particular strength in the multi-unit sector.
Inventory and Market Activity
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Inventory has increased notably. Single-family home inventory rose 65.7% year-over-year as of January 2025, providing more choices for buyers and signaling a move toward a more balanced market.
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In April 2025, there were 442 homes for sale, an 18.8% increase from the previous month, indicating more sellers are entering the market.
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Days on market have increased, with single-family homes averaging 154% longer on the market compared to last year, reflecting more cautious buyer behavior and a less frenzied pace.
Sales Volume and Buyer Trends
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Closed sales are up 25.6% for Q1 2025 compared to the same period last year, with 229 transactions recorded.
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The market is heavily weighted toward luxury sales, with more transactions in the $5–$10 million range than in the $1–$1.5 million range. There were 12 sales over $10 million in Q1 2025, a figure that would have been rare just a few years ago.
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Cash purchases dominate the upper end of the market, accounting for 56.1% of all sales in Q1 2025, and this ratio increases as price points rise.
Luxury and Sustainability Trends
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Demand for luxury properties in exclusive neighborhoods like Deer Valley and The Colony remains robust, driven by buyers seeking privacy, premium amenities, and proximity to outdoor recreation.
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Sustainability is gaining importance, with more buyers seeking homes featuring solar panels, energy-efficient systems, and eco-friendly materials. Developers are responding by incorporating green technologies into new builds and renovations.
2025 Park City Real Estate Market Outlook
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Inventory is expected to continue rising, offering buyers more options. However, strong demand-particularly for luxury and ski-in/ski-out properties-should keep appreciation in the 5–7% range.
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The market is stabilizing after several years of rapid growth. While price increases are moderating, Park City remains a highly desirable destination for both primary residences and investment properties.
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Buyers should be prepared to act quickly on well-priced homes, as quality listings can still sell rapidly, sometimes above asking price.
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Sellers remain in a favorable position, but should price competitively and be patient as buyers become more selective in a market with greater inventory.
Key Takeaways
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Park City’s real estate market in 2025 is characterized by high prices, increased inventory, and a strong focus on luxury properties.
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The market is evolving toward greater balance, with longer days on market and more options for buyers, but demand remains strong-especially in the top price brackets.
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Sustainability is an emerging trend, and buyers are increasingly interested in eco-friendly features.
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Both buyers and sellers should work with experienced local agents to navigate the complexities of this high-value market.
Frequently Asked Questions About the Park City Real Estate Market
Is Park City a good place to invest in real estate?
Yes, Park City is considered a prime location for real estate investment. With its year-round appeal—offering world-class skiing in winter and hiking, biking, and festivals in summer—Park City attracts both vacationers and long-term residents. The limited inventory and strong demand help support long-term value growth.
How is the real estate market in Park City currently performing?
The Park City real estate market remains competitive, with steady demand for both luxury vacation homes and primary residences. Inventory has been tight in recent years, and prices have appreciated, especially in highly desirable areas such as Deer Valley, Old Town, and Promontory.
What types of properties are most common in Park City?
You’ll find a wide variety of properties, including ski-in/ski-out condos, luxury single-family homes, townhomes, and mountain estates. Park City also offers gated communities, golf course homes, and rustic-modern mountain cabins.
Are there any restrictions for out-of-state or international buyers?
There are no restrictions for out-of-state or international buyers in Utah. Many Park City buyers come from California, Texas, New York, and even overseas, particularly those looking for second homes or vacation rentals.
Is Park City real estate a good option for short-term rentals?
Yes, certain areas of Park City are zoned for nightly or short-term rentals, making it a great opportunity for investment properties. Popular rental zones include Old Town, Deer Valley Resort area, and Canyons Village. However, be sure to check local zoning laws and HOA rules before purchasing.
When is the best time to buy real estate in Park City?
Inventory typically peaks in spring and early summer, offering more choices for buyers. However, winter months can offer less competition. Market timing should also depend on your goals, whether you want a primary residence, vacation home, or investment property.
Park City’s real estate market continues to deliver opportunities for both buyers and sellers, with a particular emphasis on luxury, sustainability, and long-term investment potential.
Work with a knowledgeable Park City real estate agent who can help you navigate the nuances of the Park City real estate market and be ready to move when the right opportunity presents itself. Connect with the team at Selling the Slopes to begin.
