Park City Q1 2025 Market Update

Park City's Q1 numbers are in, and there's a lot happening under the surface. The headline: buyers are back in a meaningful way, pricing is climbing steadily without surging unrealistically, and quality inventory is still king.

Single-family homes in Park City limits: units sold up 12%, median price up 8%, average up around 5%. That's not a market coasting on momentum — it's active and competitive, especially in the $3M–$6M range. In the neighborhoods: Old Town saw more turnover but softer pricing (units up 3%, prices down ~4%) as buyers target the entry end while premium properties negotiate down. Park Meadows is one of the strongest segments in the market — units up 7% and median price up 18%, driven by demand for updated, move-in-ready homes in the $4M–$6M range.

Condos and townhomes: a major rebound — units up 15%, median price up 28%, average up 16%, with inventory down 8.9% adding pressure in the $1.5M–$3M range where most buyers live. Updated and ski-access product is moving quickly and at a premium; if you're a seller in that space, this is your moment.

The broader picture from the KW report: consumer sentiment is down 30% over four months (lowest since June 2022), mortgage rates hover around 6.875%, and cash dominates — 68% of all purchases, including 83% of land deals. Greater Park City sales volume is up 15% year-over-year, with March alone up 25%. The rolling 12-month median for homes and condos sits at $1.678M, up 8.6%.

Takeaway: Park City is outperforming national trends in both pricing and volume, while buyers stay confident but calculated. Whether you're buying, selling, or investing, the key right now is strategy — and I'm happy to talk through yours.

Thinking about buying, selling, or investing in Park City? Reach out anytime — call or text (801) 837-4445.