Park City Real Estate Market Report — Q2 2026
The Park City real estate market continued to normalize during the second quarter of 2026, but “normalizing” shouldn’t be confused with weakening.
Buyers have more choices than they did during the inventory-starved years following the pandemic, properties are generally taking longer to sell, and higher interest rates continue to affect demand. At the same time, Park City home values have remained remarkably resilient.
The result is a market that feels considerably more balanced—but one where desirable properties and well-positioned luxury homes continue to command strong prices.
Q2 2026 at a Glance
| Market Indicator | Q2 2026 |
|---|---|
| Greater Park City 12-Month Median Price | $1,962,500 |
| Median Price vs. Prior Year | +9% |
| Median Price vs. Two Years Ago | +26% |
| Q2 Closed Sales vs. Q2 2025 | +3.6% |
| Q2 Closed Sales vs. Q2 2024 | -2.9% |
| Q2 Dollar Volume vs. Q2 2025 | -5.3% |
| Active Listings as of July 1 | 1,053 |
| Inventory vs. Prior Year | +3% |
| Overall Absorption Rate | 8.7 months |
| Single-Family Cash Purchases | 44% |
| Condo Cash Purchases | 47% |
| Vacant-Land Cash Purchases | 81% |
The headline number is pricing. Greater Park City’s trailing 12-month median price for homes and condominiums reached $1,962,500, approximately 9% higher than a year earlier and 26% higher than two years ago. KW Q2 26
That strength is particularly notable given the national backdrop. Mortgage rates were around 6.55% in the presentation, yet cash continues to insulate Park City from some of the rate sensitivity seen elsewhere: approximately 44% of single-family transactions, 47% of condo transactions and 81% of vacant-land transactions were cash purchases.
Buyer Demand Has Softened—but Buyers Haven’t Disappeared
Pending sales tell a more cautious story than pricing.
Q2 2026 pending sales were approximately 13% below Q2 2025 and 2% below Q2 2024. The presentation attributes much of that weakness to condominium sales, which can fluctuate significantly based on the timing and release of new development inventory.
Closed sales, however, were considerably stronger. Q2 closings finished 3.6% ahead of Q2 2025, although they remained 2.9% below Q2 2024.
That’s an important distinction.
The market isn’t experiencing uniform weakness. Instead, buyers appear to be becoming more selective about what they purchase.
Through Q2, condominium transactions were down approximately 15% year over year, while single-family transactions increased 5.9% and vacant-land transactions jumped 46%.
For buyers, that means the opportunities—and competition—can look dramatically different depending on property type and neighborhood.
More Inventory Is Giving Buyers Breathing Room
This may be the most meaningful change in the Park City market.
There were 1,053 active listings on July 1, 2026, compared with 1,021 a year earlier, representing a 3% increase. But the composition of that inventory matters: condominium inventory increased 17%, single-family inventory increased 3%, and vacant-land inventory declined 38%.
The presentation also notes that inventory has increased 148% since June 2024, illustrating just how dramatically conditions have changed from the extraordinarily tight market of a few years ago.
That has pushed the overall absorption rate to approximately 8.7 months, above the 2013–2019 average of 7.2 months and the 2025 average of 6.0 months.
For buyers, that’s generally good news. There is more selection, more time to evaluate properties, and—in certain segments—greater negotiating leverage.
But the numbers also show why it’s dangerous to describe Park City as one single market.
Park City Is Really a Collection of Micro-Markets
Absorption varies dramatically by location, property type and price.
In the core Park City neighborhoods, single-family homes below approximately $3.8 million had only 4.4 months of inventory, while homes above that threshold had 11.2 months. In-town condos stood at 8.2 months overall.
In the Snyderville Basin, single-family inventory measured 6.3 months, while condos stood at 9.9 months.
The Jordanelle area showed 9.0 months of single-family inventory and 7.7 months for condominiums—an especially important market to watch as development surrounding Deer Valley East Village continues.
This is why broad headlines about “the Park City market” can be misleading. A $2 million condominium, a $5 million golf-community home and a $10 million ski property may be operating under entirely different supply-and-demand conditions at the same time.
Prices Continue to Defy the National Trend
Perhaps the biggest story of Q2 is how well Park City pricing has held up despite higher inventory and elevated borrowing costs.
Nationally, the presentation cites Case-Shiller home-price growth of just 0.8% year over year and FHFA growth of 2.2% through May. Greater Park City’s trailing 12-month median price, by comparison, was up approximately 9%.
Looking farther back provides even more context. Since January 2001, Greater Park City prices have appreciated at approximately 7.0% annually on a compounded basis, according to the analysis in the presentation.
That doesn’t mean every neighborhood or property type is appreciating at 9%. It does show that the overall market has remained surprisingly durable despite conditions that would normally place considerably more pressure on pricing.
New Construction Is Reshaping the Market
One of the most important trends I’m watching isn’t simply price—it’s where the transactions are occurring.
New construction accounted for more than 50% of both single-family and condominium sales in the Jordanelle area. The presentation also notes that more than 30% of homes sold in Promontory were new construction.
That matters when evaluating comparable sales.
A neighborhood experiencing substantial new construction can show increasing median prices even while existing homes behave differently. Buyers and sellers therefore need to look beyond the headline median and understand whether they’re comparing a resale property against another resale—or against a brand-new luxury home.
This is particularly relevant around Jordanelle and Deer Valley East Village, where the pipeline of new development continues to reshape the eastern side of the Park City market.
The Luxury and Resort Communities Remain Active
Development-oriented communities continue to generate substantial transaction volume.
The presentation identifies the five communities with the greatest number of sales in its applicable segment as:
Promontory — 72 sales
Tuhaye — 47 sales
Marcella — 46 sales
Skyridge — 28 sales
Hideout — 20 sales KW Q2 26
That’s worth paying attention to because several of these communities sit directly in the path of Park City’s ongoing eastward expansion.
Promontory and Tuhaye remain major players in the private-club market, while Marcella, Skyridge and Hideout are closely tied to the broader growth occurring around Jordanelle and Deer Valley East Village.
What Q2 Means for Buyers
This is a considerably more comfortable market for buyers than the market we experienced several years ago.
More inventory means buyers can be selective, compare properties and negotiate where appropriate. But I wouldn’t interpret rising inventory as evidence that every seller is suddenly willing to discount.
The strongest properties—particularly those with exceptional views, ski access, new construction, desirable club memberships or difficult-to-replicate locations—operate differently from properties that are competing primarily on price.
Understanding the absorption rate for the specific neighborhood and price range you’re considering is far more useful than looking at Park City-wide inventory alone.
What Q2 Means for Sellers
For sellers, pricing strategy has become increasingly important.
The days when virtually any Park City property could be listed aggressively and immediately generate multiple offers are behind us. Buyers now have alternatives.
At the same time, a roughly 9% year-over-year increase in the overall median price shows that this isn’t a market where sellers necessarily need to race downward on price.
The distinction is positioning.
Homes that are priced appropriately for their micro-market, presented well and differentiated from competing inventory can still perform exceptionally well. Properties that begin significantly above the market may face longer marketing periods as buyers compare them against an expanding set of alternatives.
My Take on the Park City Market
Q2 2026 reinforces something I’ve been seeing on the ground: Park City is becoming a more balanced market without becoming a cheap market.
Inventory is higher. Buyers are more deliberate. Pending activity has softened. Interest rates remain elevated.
Yet prices are still substantially higher than they were one and two years ago, single-family demand has held up relatively well, cash remains a major component of the market, and new construction continues to attract significant capital.
For buyers, that creates opportunities that simply didn’t exist when inventory was exceptionally constrained.
For sellers, it means understanding your exact segment of the market matters more than ever.
And for anyone considering a purchase or sale, I’d be cautious about making decisions based solely on national housing headlines. Park City continues to behave like a collection of highly localized luxury and resort markets, each with its own inventory, demand and pricing dynamics.