Park City Real Estate Market: What You Need to Know about the 2025 UT Housing Market

Why People Are Moving to Park City

A Lifestyle Destination With Year-Round Appeal

Ask any local why they stay and you’ll hear the same refrain: where else can you mountain-bike singletrack in the morning, grab lunch on Main Street, and still catch an outdoor concert by sunset? That year-round energy keeps the Park City housing market humming even when the lifts stop spinning.

Stacked trail systems, a revitalized arts scene, and walkable eateries mean folks searching for homes for sale in Park City, UT, aren’t just moving to Park City chasing powder—they’re chasing an everyday lifestyle upgrade. 

Skiing, Luxury, and a High Quality of Life

Skiing still runs the show here—Deer Valley’s 3,700-acre “Expanded Excellence” build-out is adding 16 new lifts, a ten-passenger gondola, and 135 fresh runs that will more than double the resort by 2026.

When you click out of your bindings, five-star boltholes like Stein Eriksen Lodge greet you with ski valet, heated walkways, an infinity pool, and a Forbes-rated spa - mountain luxury that turns leg-burn into pampering.

That polish seeps into everyday life, too. The Park City School District ranks among Utah’s top five, a stat that keeps people (and home values) anchored.

Meanwhile, Salt Lake City’s airport and downtown offices sit just a 35-minute drive down the hill, so powder mornings and afternoon Zooms coexist without drama.

Outside Magazine even crowned Park City the country’s best mountain town, underscoring why the Park City real estate market stays in the national conversation year after year.

Strong Appeal to Second-Home Buyers and Investors

Park City is built for “part-time living”: roughly 67% of its housing sits vacant most of the year, and 77% of those units are tagged as seasonal retreats. That backdrop lures deep-pocketed buyers, cash now fuels more than 60% of 2025 closed sales, up sharply from the long-term 50% norm reported by the Park City Board of Realtors®.

Rental economics sweeten the deal. Airbtics tracks 2,537 active Airbnb listings earning a 54% occupancy rate and a $410 ADR—about $6–7,000 in monthly gross for a tidy two-bed condominium. Peak ski season supercharges revenue: Bankrate’s 2025 study shows a 103% markup, with winter nightly rates near $888.

Who’s buying?

Business Insider notes that roughly half of newcomers are second-home shoppers, and about a quarter hail from California, chasing a stress-free vacation home they can enjoy a few months a year while the rest of the calendar pays for itself.

They’re fine paying full property tax—second homes are assessed at 100% of market value versus 55% for primaries because appreciation and cash flow still pencil out.

Current Market Trends and Statistics

Median Home Prices and Recent Real Estate Trends

The median sale price within Park City limits clocked in at $3.96 million during the first quarter of 2025, an 8% bump over 2024, even after a wild ride during the pandemic years.

Across the primary market area, the median price dipped just 0.7 % to $1.66 million, confirming that price stability, not free-fall, is the 2025 headline. 

Meanwhile, the median sale price rose 1% for the wider condominium market, landing at $1.15 million. 

Inventory Levels and Buyer Demand

Active listings hover around 866 units, still roughly one-third lower than pre-2020 norms, yet sales activity actually outpaced new listings by nearly 19%.

Translation? Supply is tight, but not paralyzing. In today's market, buyers can’t snooze on a property in Park City for long. 

Average Days on Market and List-to-Sale Ratios

Homes are going under contract in about 25 days on the market on Zillow and 32 days on Redfin; that’s 70% faster than 2024.

The sale-to-list price ratio sits near 96.7%, so while bidding wars are less common than in 2021, sellers still capture most of their asking price. 

How the Park City Housing Market Compares to Nearby Towns

Park City still tops the Wasatch Back pricing pyramid: the median sale price inside city limits hovers just under $2 million, while nearby Heber City and Midway list around $1 million, Kamas punches in near $1.3 million, and the broader Salt Lake County valley averages about $570,000. In other words, buying a starter chalet in Old Town can cost roughly double a new craftsman in Heber and nearly four times a family rambler in the Salt Lake flats. 

Competition looks a little different, too. Park City homes typically go under contract in about 25 days—quick, but not scorching—whereas Salt Lake’s urban listings fly off in just 13. Heber averages a month to pending, and Midway clocks in around 42 days, giving buyers there a bit more breathing room even as the overall UT housing market tightens. 

For value-hunters, Heber and Midway trade boutique Main Streets and roomier lots for the nightlife and gondola rides you’ll find in Park City and Deer Valley. Kamas offers raw land potential and looser nightly-rental rules, while Salt Lake remains the go-to for commuters chasing lower taxes and quick airport hops.

Stack it up, and the Park City housing market still commands the region’s top dollar, but buyers willing to drive twenty minutes can trim budgets without sacrificing mountain views—one more nuance to file under your 2025 market analysis.

Best Neighborhoods in Park City for Different Buyers

Old Town – Historic Charm with Walkability

Think century-old miners’ cottages hugging Main Street, nightly music at the Egyptian Theatre, and ski-to-après without a car. Prices hover near $3.6 million, yet you can still snag a small single-family home or tight condo unit sales for less if you’ll trade square footage for convenience.

Deer Valley – High-End Ski-In/Ski-Out Properties

Upper Deer Valley’s median price is up to $4.195 million, proving luxury demand remains relentless. Deer Valley real estate includes flagship resorts and private clubs, so don’t expect bargains—just heated driveways and first-tracks bragging rights.

Canyons Village – Resort Living and Vacation Rentals

With 45% of basin condo sales happening here, Canyons is the workhorse of nightly rentals. Investors like the consistent lift expansion, plus proximity to Kimball Junction groceries when they’re not chasing powder.

Promontory – Private Club Amenities and New Builds

Golf, equestrian centers, kids camps, and fresh construction draw families seeking elbow room. The highest price sale topped $27.8 million—twice the second priciest sale elsewhere in the basin—yet resale cottages under $2 million still pop up.

Kimball Junction – More Affordable and Convenient for Commuters

If you’re chasing price per square foot below $700 and easier I-80 access, Kimball’s your jam. Think Whole Foods, movie nights at Redstone, and a realistic shot at a median home under $650,000.

Is Park City a Buyer’s or Seller’s Market Right Now?

Factors Influencing Buyer and Seller Leverage

Seller leverage peaks on properties below $2 million, where inventory is paper-thin. Above $5 million, buyers gain wiggle room, especially if a home in one of Park Meadows or the Colony lingered past 45 days.

Seasonality in the Market – What to Expect Throughout the Year

Snowy Q1 sees the most market activity from ski tourists. A lull hits April–May before summer festival buzz spurs fresh Park City area searches. Historically, August brings the sharpest increase in sales, then a quiet shoulder before holiday visitors snap up slopeside condos.

Short-Term Rentals and Investment Opportunities

Understanding Park City’s Rental Regulations

Before listing on Airbnb, you’ll need a Nightly Rental License, compliance with zoning, and parking rules outlined by the city and the Park City Board of Adjustment.

Summit County is mulling new quiet-hour and local-manager requirements by year-end 2025, so investors should bookmark the ordinance tracker. 

Cap Rates and Income Potential for Vacation Homes

A two-bed condominium in Canyons Village averages $975,000 and can gross $90–110,000 annually, producing a true 4% – 5% cap rate after management.

Larger slope-side estates pull in more cash, but returns flatten because of hefty acquisition costs—classic real estate decision math.

Where Investors Are Buying in 2025

Investor money is following the value gaps just outside Park City’s priciest zip codes.

East of Deer Valley, the Jordanelle Reservoir build-out remains the entry point: Zillow shows average home values hovering near $820,000, roughly one-quarter of Park City’s in-town median, so buyers can still grab new condos for less than land alone costs on Main Street. 

Inside city limits, Redfin pegs Park City’s overall median sale price at about $3.4 million, underscoring why cash-flow hunters are looking a few miles down the road.

Luxury appetite hasn’t faded, though.

Promontory logged a ridge-top estate that listed at $14.25 million and closed in March 2025, proof that top-end buyers will still pay for golf-course views and club amenities even as the broader 84098 zip code median sits near $1.7 million. That same median sets the bar for Canyons Village nightly-rental condos, where investors like the balance between ski-in demand and purchase price.

Kimball Junction shares the 84098 zip but skews toward long-term tenants and year-round retail traffic, offering steadier leases while resort cores ride seasonal peaks.

All told, 2025’s investor play is diversification: pair Jordanelle’s growth pricing with Canyons' cash flow, and keep an eye on trophy inventory in Promontory when it surfaces.

What Buyers Should Know in Today’s Market

Financing Options for Primary and Second Homes

Local banks still write jumbo loans up to 80% LTV, but many buyers sidestep rates entirely with cross-collateral or securities-backed lines, especially when nabbing a Park City MLS off-market gem.

How to Compete in a Competitive Market

Pre-inspection, proof-of-funds, and a 10-day due diligence window speak louder than price alone.

Remember: prices remained mostly flat last fall, so don’t let FOMO derail smart offers.

Working With a Local Agent Who Knows the Terrain

Elevation quirks, snow-removal easements, and HOA shuttle routes can swing value. Lean on seasoned Park City Realtors who read micro-data from the Park City Multiple Listing Service in real time.

What Sellers Can Expect When Listing in Park City

How to Price Your Home Strategically

Study the market report from the Park City Board of Realtors®; if a median price increase is neighborhood-specific, peg your list price to that micro-trend, not the wider UT housing market.

Prepping for a Fast Sale in a Seasonal Market

Stage ski rooms in November, bike racks in May, and always plow the driveway early. A tidy garage might shave a week off your days on the market during mud season.

Marketing to Out-of-State and International Buyers

Roughly 35% of 2025 closings had buyers with a foreign address, so pro photography, 3-D walkthroughs, and currency-hedge talk matter. Highlight sale prices in both USD and CAD to court the Vancouver crowd.

Long-Term Outlook for the Park City Real Estate Market

How Development and Infrastructure May Influence Prices

The UDOT bus-rapid-transit study, plus pending fiber upgrades, should buoy home values east of Quinn’s Junction. Analysts expect an increase in median price once commuting pain eases.

Population and Job Growth in the Region

Tech spillover from Lehi’s Silicon Slopes and the new film-production campus near Kamas could boost year-round payroll jobs, pumping fresh demand into the overall market.

Is Now a Good Time to Buy or Sell in Park City?

With price stability, modest rate pressure, and limited inventory, the real estate market remains tilted slightly toward sellers, but well-qualified buyers still win if they move fast and stay realistic.

Future Predictions for the Park City Housing Market

Expected Real Estate Trends for Late 2025

Expect a rise in the median list price as interest-rate cuts nibble at monthly payments. Look for Park City and Deer Valley to post double-digit appreciation in luxury condos, while outer-ring land may cool.

Analysts forecast the total market to close 2025 with 2,900 transactions—up 6% year-over-year—even if there’s a modest decrease in sales during shoulder months. 

Final Thoughts: Navigating the Park City Market With Confidence

Whether you crave a slopeside penthouse or a starter townhome near Trailside Elementary, 2025 offers opportunity; just bring good intel and a seasoned guide.

Park City continues to punch above its weight for lifestyle, equity growth, and sheer mountain magic.

FAQs About the Park City, UT Housing Market

What is the current median sale price in Park City?

As of April 2025, the median sale price sits around $1.98 million for all property types, with median home values within city limits closer to $3.96 million. 

How many days do listings stay on the market?

The average days on the market is roughly 25–30 before going pending, far quicker than the 70-plus days seen in early 2024. 

Are condo prices still climbing?

Yes, even though condo unit sales jumped 12%, the condo market saw a 28% bump in median pricing inside city limits, proving demand remains fierce. 

What’s the outlook for short-term rental regulation?

Summit County is eyeing tighter occupancy caps and local-manager rules, so anyone banking on nightly income should track county meetings this fall. 

Is it smart to wait for prices to drop?

With scarce land, a lifestyle premium, and ongoing luxury demand, most forecasts show only sideways movement at worst. History says homeowners in Park City who hold five years see healthy appreciation even when the broader market wobbles.