Are home prices up or down in Park City?!

Are home prices up or down in Park City? The honest answer: it depends entirely on the neighborhood — and on reading the data correctly. One rule before we start: when the quantity sold in a neighborhood is low, the numbers get unreliable. A handful of sales can swing a median dramatically, so context matters more than headlines.

Park City limits

Old Town is a good example of why you dig deeper: the average price is down while the median is up, which suggests the lower end of the market is gaining strength while the high end moves slowly. That's why you're seeing genuinely good deals above the median right now — like 51 Daly, a brand-new, fully remodeled 5-bed, 6-bath single-family home walking distance to Main Street under $5 million. That's an exceptional number for what it is.

Thaynes Canyon is up drastically across every metric, which at low volume points to possible short-term overvaluation — I'd tread carefully there. Zooming out, Park City proper as a whole gives us a more stable read at 111 units sold: quantity and volume both increased, the average rose just 1%, and the median climbed 11%. That's stable, balanced growth inside the city limits.

Snyderville Basin

Silver Springs saw both average and median prices decline — downward pressure that likely reflects sellers negotiating to close. Given that data, I'd call Silver Springs a good buy right now. Pinebrook looks balanced between buyers and sellers, and with the 9.4% average annual gains it has posted over the past decade, this could be a smart entry point. Jeremy Ranch is on fire — a healthy market with people motivated to move. Glenwild shows a split market: luxury buyers are active while the typical home sees some price pressure. Promontory is seeing more higher-end properties trade. The Basin overall posted steady 9% median growth, right in line with its ten-year average — a balanced market where good deals are worth grabbing.

Jordanelle, Heber Valley & Kamas

The greater Jordanelle area shows headline growth around 23% — but that's largely new product hitting the market and pushing overall values. Existing homes there actually saw a very small decrease, so know what's behind the number. In Midway, a few higher-end sales lifted the average while the median slipped, suggesting more affordable homes are drawing first-time buyers and investors. Heber City sold fewer homes at slightly higher prices — steady with less velocity. Red Ledges volume jumped 72% as a wave of homes finished construction, with prices roughly stable. Kamas is softening: more sales, but buyers choosing cheaper homes. If you've been waiting to get into an affordable home in Kamas, this could be your year.

Condos

Old Town condos are stable with strong demand at the affordable end. Upper Deer Valley shows a few high-priced closings lifting the average while the bulk of activity centers on lower-priced units. Overall, Park City condos show a softening market with a shift toward more affordable product — if you've been looking for a ski condo, this could genuinely be your window. The Canyons is softening similarly. Sun Peak/Bear Hollow reads as split, but that's a data quirk: the Enclave townhomes trade around $4 million while only a few budget units sold. Jordanelle condo volume is way up as Deer Valley East Village comes to life — mostly new sales — with average up 4% and median up 6%. That's a healthy market.

Bottom line

Park City isn't one market — it's dozens. Some neighborhoods are genuinely appreciating, some are softening into buying opportunities, and some are just statistical noise from low volume. If you want to know what the data says about the specific neighborhood you're watching, that's exactly what I do every day.