T
he Park City real estate market experienced a bustling summer season, according to the latest quarterly report from the Park City Board of Realtors. Single-family home sales in major areas surrounding Park City saw year-over-year increases of 5-21%, with overall sales volume rising by 15-62%. Median sale prices remained steady or slightly increased across most regions, except for Kamas Valley, which reported a notable 17% jump.

    Condominium sales in the primary market, encompassing Summit and Wasatch Counties, also showed strength, with a 12% increase in sales units. However, median prices dipped by 2.1% to $1.12 million. Notably, Heber Valley saw a significant surge in sales, driven by new developments at Jordanelle Ridge and Coyote Ridge.

    Residential inventory reached its highest level since the pandemic, with 765 units available for sale as of June. While this figure is still below the pre-COVID average, it marks the third-highest monthly count on record. The full quarterly report can be accessed below.