February 2025 Park City Property Area Updates

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HOW’S THE PARK CITY REAL ESTATE MARKET?

The Park City real estate market continued to experience steady growth during the fourth quarter of 2024. In the primary market, which included Summit and Wasatch counties, single family sales volume increased 17% year over year as the median sales price grew at a respectable 2% across the region.

Condominium sales were also strong as 21% more sales units were reported while the median price dipped slightly (3%) to $1.1 million. The inventory of
available single family and condominium homes remained tight throughout the year. 3,453 residential properties were listed through PCMLS in 2024, compared to 3,023 in 2023, a 14% increase. But 2,182 residences were sold in 2024, up from 1,821 in 2023, a 20% increase, more than covering the increased number of listings. As of year end, there were 1,320 homes (both types) for sale, down 4.2% year over year.

The total sales volume for single-family homes in Summit and Wasatch counties for the full year ending 12/31/24 was up 19% from the same period a year earlier. Prices rose at a modest rate with the median home sale price in the PCMLS primary market area increased 1.5% to $1.65 million for the year 2024.

View January 2025 Year-over-Year Statistics for Single Family Homes and Condo-Townhouses

Single Family Homes in Park City

The median sales price for January was $3,362,500 with 32 units sold. The Median Days on Market was 116 days and the Median Sold Price per Sq. Ft. was $941. There were 51 new listings with 208 currently active listings on the market.

Condo/Townhomes in Park City

The median sales price for January was $1,500,000 with 33 units sold. The Median Days on Market was 25 days and the Median Sold Price per Sq. Ft. was $1,100. There were 70 new listings with 178 currently active listings on the market.

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