I
n its most recent quarterly update, the Park City Board of Realtors highlighted that the local housing market remained steady and resilient through Q3 2025, a period the community dubbed “another boring quarter.” The data show consistent, modest growth without sharp volatility.
Across Summit and Wasatch counties, the primary market kept pace with strong transaction volumes and prices that stayed flat or edged up slightly in most categories. Year‑over‑year figures through September 30 indicate the market has returned to its pre‑pandemic baseline. Single‑family homes continue to sell in healthy numbers, with median prices climbing by double‑digit percentages, while the condo sector displays mixed results depending on neighborhood and price tier.
A key milestone noted in the report is that inventory surpassed 1,000 units for the first time since 2020, signaling a shift in supply dynamics.
**Market Split**
The report’s most striking observation is a clear bifurcation. Homes priced above $2.5 million experienced a 38 % rise in unit sales and a 50 % jump in sales volume year‑over‑year. In contrast, properties below that threshold saw only 2 % and 4 % increases in units sold and volume, respectively. This divergence reflects changing buyer priorities: high‑net‑worth purchasers view Park City as a lifestyle investment, largely unaffected by interest rate fluctuations. Cash deals dominate the luxury segment, accounting for over 60 % of transactions, and buyers are willing to pay premium prices for properties that meet their exacting standards.
**Single‑Family Dynamics**
The single‑family market revealed a notable contrast between new construction and existing homes. When new builds are factored in, the median price rises 26 % year‑over‑year. Excluding new construction, existing‑home prices climb a modest 6.7 %, aligning with the long‑term appreciation trend of 6‑8 % that has characterized the area since 2001. The disparity underscores that buyers are willing to pay a significant premium for move‑in‑ready, modern properties, even when older homes offer more desirable locations.
In short, Park City’s real estate scene remains robust, with a clear split between luxury and mainstream segments and a growing preference for new, turnkey homes.
