Park City real estate market ends 2025 with second-highest sales volume on record

PARK CITY — The Park City real estate market closed out 2025 with a historic performance, posting $5.75 billion in total sales volume. According to the year-end report from the Park City Board of Realtors, the figure marks the second-highest volume in the market’s history, trailing only the peak seen during the COVID-19 era.

The data suggests a return to pre-pandemic equilibrium, characterized by steady transaction volumes and exceptional strength in pricing. Despite a typical holiday slowdown in December, the overall 2025 market demonstrated a robust recovery from recent volatility.

Price Appreciation Drives Volume

The surge in dollar volume was largely fueled by rising property values rather than a spike in the number of homes sold. Year-over-year comparisons through Dec. 31 show that single-family home sales reached $3.52 billion—a 26% jump from 2024. While the number of units sold rose only 6%, sale prices surged by 17% to 19%.

The condominium market followed a similar trajectory. Although the number of units sold actually fell by 8%, total sales volume rose 20% to $1.66 billion. This was driven by a 30% increase in the average sales price, which now stands at $1.8 million.

The Move-In Ready Premium

The report highlighted a growing divide between new construction and older inventory. Buyers in 2025 paid a significant premium for homes that were newly built or recently remodeled, showing a strong preference for move-in-ready properties.

This appetite for high-end amenities extended to vacant land. Lots in gated communities featuring golf club memberships sold for as much as $1 million more than similar-sized parcels without golf options. In the Promontory area, approximately 70% of buyers sought golf-accessible properties, with many opting for smaller homes to secure a location near the course.

Neighborhood Highlights

• Park City Proper: The city core saw 143 sales, a 29% increase over 2024. Volume rose 39% to $712 million, with a median price of $3,825,000. Agents noted a demographic shift toward younger buyers and a trend of out-of-state residents relocating as full-time inhabitants.
• Old Town: Inventory remained tight with only 53 sales. Scarcity kept the median price steady at $3.9 million.
• White Pine Canyon: It was a banner year for ultra-luxury "mega-homes." Ten properties on White Pine Canyon Road sold for an average price exceeding $17 million.
• Jordanelle: Rapid development continued south of town, where unit sales rose 25% and volume jumped 45% to $508 million. The median sale price in the area surpassed $4 million for the first time, led by the Tuhaye community’s median price of nearly $6 million.

Condo Market Shifts

While total condo units sold across Summit and Wasatch counties dipped 9% to 859, the luxury sector remained a major driver. Within Park City limits, the new Founders Place development in Deer Crest was a standout, with 49 units selling at an average price of $5.5 million.

Overall, the report paints a picture of a stable and consistent market. While the 2026 outlook is positive, local experts are monitoring potential headwinds, including rising insurance costs in fire zones and the impact of lower-than-average early-season snowfall on rental demand and buyer sentiment.

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