Solid Sales | Steady Price Increases | Continued Inventory Growth in the Park City Area
The second quarter of 2025 reflects a welcome and familiar trend for the Greater Park City real estate market: the return of the busy summer season. Buyers and sellers alike are engaging more confidently, and it’s showing in the numbers.
Home Sales and Pricing Trends
Across Summit and Wasatch counties, both single-family homes and condominiums saw a year-over-year increase in unit sales and total dollar volume. The median price for single-family homes rose by nearly 7%, demonstrating steady appreciation. While condominium prices dipped slightly by 2%, overall activity in this segment remains healthy.
Park City Outperforming the National Market
From a national perspective, the local Greater Park City real estate market is in excellent shape. Through June 2025, our area posted a year-over-year appreciation rate of 8.7%, significantly higher than the 1.3% national average. With an average annual appreciation of 7.2% since 2001, Park City remains a reliable real estate investment market.
Looking to buy or sell in Park City or the Wasatch Back?
Read on to see how specific areas of interest performed during the second quarter of 2025, and don’t hesitate to reach out to discuss discuss current opportunities and market trends tailored to your goals. Whether you’re interested in luxury homes, ski-in/ski-out properties, or long-term investments, our team is here to help you make the most informed decisions in the Park City area.
Market Stats – Q2 2025
Single Family Trends
Condominium Trends
Condominiums also performed well this quarter, with 936 sales transactions across the primary market area, a 12% increase compared to Q2 2024. Total sales volume reached $1.53 billion, highlighting buyer demand in the condo market. Despite strong sales activity, the median condominium price dipped slightly by 2.1% to $1.12 million, offering potential opportunities for savvy investors or second-home buyers looking to enter the Park City real estate market.
Vacant Land Trends
The vacant land market experienced a slight slowdown through the second quarter of 2025. Sales declined by 7% year-over-year, with 396 closed transactions. Total sales volume dropped 15% to $482 million, while the median land price decreased by 7% to $802,000. Vacant land is getting scarce and does present long-term value for buyers looking to build custom homes in the Park City area.
Inventory on the Rise
# ACTIVE LISTINGS | SF + Condos + Land
Greater Park City - Inventory as of the 1st of the Month
One of the most notable shifts this quarter is in inventory. For the first time in nearly five years, active listings surpassed 1,000 units—the highest level since before the pandemic. While we haven’t yet reached pre-2020 inventory levels, this growth is a welcome change for buyers who have faced tight supply for several years.
PARK CITY LIMITS I Market Overview
Average Median Sale Prices
2nd Quarter 2025 Year-Over-Year Rolling Averages
Park City Real Estate Market Trends by Neighborhood - Park City Limits
SINGLE-FAMILY Homes TRENDS
Sales activity and pricing across neighborhoods within Park City limits continued to show variation in Q2 2025, highlighting the unique dynamics of each area within the local real estate market.
Old Town saw a 6% increase in sales with 33 closings, though the median home price dipped 10% to $3.55M, presenting potential opportunities for buyers in one of Park City’s most iconic neighborhoods.
A strong performer this quarter, Thaynes Canyon recorded a significant 86% increase in sales activity with 13 closings and a 16% rise in median price, now at $4.6M.
Lower Deer Valley real estate experienced a slowdown, with just 8 sales and a 23% drop in median price to $4.25M.
The Deer Crest market remained strong with 5 closings and a 16% increase in median price, reaching $12M, continuing to reflect the demand for high-end, ski-in/ski-out homes.
With 7 closings, Upper Deer Valley experienced a slight 3% dip in median price to $7.2M.
Luxury continues to lead in Empire Pass, where 4 sales resulted in a 14% increase in median price, now at $14.79M, underscoring the premium for ski-accessible homes in Deer Valley.
Aerie experienced a notable decline in pricing, with 5 closings and a 52% drop in median price to $3.95M, despite consistent transaction volume.
Prospector showed solid performance with a 15% increase in unit sales and 15 total closings, alongside a 14% rise in median price to $2.28M.
Park Meadows real estate was a strong performer, with a 25% increase in sales and 35 closings, paired with an 18% increase in median price to $3.69M.
Condominiums
The Park City condo market within the city limits remained strong in Q2 2025, with overall sales units up 5% on 257 closings. The median sales price rose 23% to $1.85M, driven largely by high-end new construction inventory.
The opening of Founders Place in Deer Crest had a significant impact, accounting for 14% of all sales at an average prices exceeding $5 million during the quarter. This new development played a major role in pushing the citywide median price upward.
As mentioned above, Deer Crest had new inventory come online, leading to a 620% increase in sales quantity with 36 closings and a 7% increase in median price to $4.33 million.
In Old Town, the market showed a 20% decrease in sales volume, with 82 closings, and a 10% dip in median price to $1.05M. Despite lower activity, this neighborhood remains a popular option for buyers seeking walkability and historic charm.
Elsewhere, in Lower Deer Valley, there was a 7% increase in sales units with 32 sales, while the median price ticked up 1% to $2.19M. Upper Deer Valley quantity sales were down 5% with 19 closings, while median price soared 92% to $4.8M, and Empire Pass had a 5% increase in sales quantity with 23 units sold on a 56% increase in median price to an even $7.0M. Prospector had a 3% dip with 34 closings and a 3% increase in median price to $385k, while Park Meadows closings were also up 3% with 30 total sales and a median price decrease of 15% to $1.45M.
Q2 Record Sale
212 White Pine Canyon Road in The Colony, last listed at $26.6M, sold off-market. The Colony remains Park City’s premier ski-in/ski-out gated community with large estate lots averaging 5+ acres.
Listing Courtesy of BHHS Utah Properties
Neighborhood Highlights - Snyderville Basin
SINGLE-FAMILY Homes
The variety of housing inventory in the Snyderville area was again on display in during the 2nd Quarter of 2025. Of the 352 sales in the Basin, the highest prices were for five homes in the Colony at White Pine Canyon, all of which sold for $15 million or more. The lowest prices were in Summit Park, where five homes sold for less than $1 million.
Another example of variance was Silver Creek. The area experienced a doubling of closed sales; however, the median price of homes north of the highway in Silver Creek Estates increased by 9% to $2.7M, while the median price of those in Silver Creek South dipped 10% to $1.1M. Promontory traditionally accounts for 25% or more of unit sales in Snyderville. The second quarter of 2025 was no different, with closed sales up 12% with 94 closings. However, there was a 7% drop in median sale price to $4.3M.
Elsewhere, Canyons Village had 9 closings on a 53% increase in median sales price to $17.45M, while Sun Peak/Bear Hollow had 12 closings with a 17% increase in median price to $2.87M. Old Ranch Road had 10 sales and a median price increase of 68% to $6.8M, while Kimball had 14 closings on a 5% increase in median price to $1.23M. Pinebrook home sales were up 11% with 31 closings but it experienced a slight 4% dip in median price to $1.8M. Summit Park had an 8% increase in sales quantity, with 28 homes sold; however, median prices dropped 11% to $1.24M. Jeremy Ranch sales were relatively flat, with a 2% increase on 45 closings and a 4% increase in median price to $1.91M. Glenwild had 18 home sales with a 15% increase in median price to $5.22M, while Trailside sold 16 homes with a median price increase of 14% to $1.69M.
Condominiums
In Canyons Village, which accounted for 55% of all condominium sales volume in the Snyderville area, median prices were down a slight 2% to $1.32M on a 17% decrease in sales units, with 105 closings. Sun Peak/Bear Hollow sales were up 32% on 29 units sold, with a 15% increase in median price to $1.17M. Kimball had a 42% increase in quantity sold with 47 sales, but had an 18% median price decrease to $643k. Pinebrook had a 28% increase in unit sales on 32 closings and a 5% increase in median price to $962k. Jeremy Ranch had 13 sales and a slight 1% increase in median price to $1.25M. Silver Creek South had 18 closings and a median price of $883k, representing a 14% decrease.
Neighborhood Highlights - Jordanelle
SINGLE-FAMILY Homes
Across all of Jordanelle there were 84 total closings, a 5% increase from the previous twelve-month period, and the median price increased 10% to $4.07M. Tuhaye had a 40% jump in median price to $5.8 million on 21 closings, edging out the traditional leader Promontory as the most expensive area west of Hwy 40/189 with 10 or more sales. Hideout experienced a 14% decrease in sales activity with 18 total sales but enjoyed a 12% increase in median price to $2.57M. Deer Mountain had 9 closings and a slight 4% increase in median price to $2.46M. South Jordanelle’s unit sales doubled with 28 closings and a median price uptick of 5% to $4.2M
Condominiums
Condominium sales exploded in Wasatch County as multiple new developments were completed and those inventories were released for sale. The hot areas were the new Jordanelle Ridge with 53 sales and Mayflower Lakeside with 54 sales.
To fully understand the condo market around Jordanelle, one must dig deeper into the details. While the Jordanelle sales volume increased 40% year over year, the median sale price rose only 13%. That’s because over 20% of the condo sales in Jordanelle were newly constructed units in the Pioche Village development, which sold at an average price of $550k, one-third of the area’s overall average. This was balanced by sales in the new developments at Mayflower Lakeside that sold on average at $1.7 million.
The overall median price in the Mayflower-Jordanelle area rose 14% to $1.34M, but unit sales dropped 14% on 83 closings. Deer Mountain closings were up 18% on 52 homes sold, while the median price dropped 14% to $950k. South Jordanelle had 7 closings with a median price drop of 11% to $1.01M, while Deer Valley East Village had a 34% increase in unit sales on 90 closings and a 167% increase in median price to $1.22M. Hideout had a 3% dip in closings with 69 condo sales, with a 9% median price increase to $1.5M.
Neighborhood Highlights - Heber Valley
SINGLE-FAMILY Homes
Single-family home sales in the overall Heber Valley area increased 8% with 339 closings, and a 6% increase in median price to $1.03 million. Midway closings were up 2% with 84 units sold, on an increase of 5% to $1.22M. Red Ledges closings were up 23% with 49 total closings, but median prices dipped 6% to $2.76M. Heber proper experienced a 43% decrease in sales with 58 homes sold, and median sale prices ticked down 2% to $749k. Heber East closings were down 6%, with 29 total sales, and the median price dropped 2% to $1.4M. Heber North was active with closings up 141% on 41 sales, and the median price was unchanged at $830k. Timber Lakes closings were up 75% with 49 total sales, and median prices dipped 5% to $795K
Condominiums
Condominium sales in Heber Valley were up 158% on 129 closings, while the median price dropped 9% to $549,900. Midway sales units were up 75% with 28 total closings, while the median price dipped 7% to $497,000. The median price in Red Ledges dipped 5% to $1.65M, while prices in Heber proper were up 16% to $479,900 on a 93% increase in unit sales, with 29 total closings. Heber North condominium sales surged 1180% with 64 closings and an 8% median price decrease to $560k.
This report has been created in cooperation with KW Park City Keller Williams Real Estate with stats provided by Rick Klein and the Park City Multiple Listing Service Quarter 2 2025 Statistics Report.
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