Park City Market Statistics Report for Q1 2026

A quick snapshot summary of the real estate market in Park City, Utah. This report data includes the MLS areas of Park City (Summit & Wasatch counties) — Market Summary (period ending 3/31/2026). The greater Park City real estate market began 2026 with contrasting trends. Single-family home sales pushed ahead—transactions rose 14%, and total volume increased 9% versus Q1 2025—while the condominium sector slowed sharply, with notable drops in both units sold and total volume. Beneath those headline figures, the picture is subtler: prices largely held steady or climbed, and the rolling 12‑month data (April 2025–March 2026) paints a steadier, more optimistic view. What looked like a mixed Q1, taken in context, reflects a market that remains fundamentally sound.

Single-Family Homes

- Q1 2026 vs Q1 2025: Transactions up 13% (225 vs 199), total sales volume +9% to $719.2M. Average price slipped 4% to $3.196M while median price rose 5% to $2.20M.
- 12‑month (4/1/25–3/31/26) vs prior 12‑month: Transactions +6% (1,116), volume +20% to $3.31B, average price +12% to $2.966M, median price +18% to $1.975M.
- Takeaway: Strong demand and higher annual dollars; Q1 average softened (likely sales‑mix toward lower‑priced or smaller luxury closings) while medians indicate upward movement.

Condos

- Q1 2026 vs Q1 2025: Transactions down 33% (139 vs 207), volume down 42% to $268.0M, average price down 14% to $1.928M, median price down 8% to $1.25M.
- 12‑month: Transactions -17% (797), volume -7% to $1.435B, average price +12% to $1.800M, median price essentially flat at $1.15M.
- Takeaway: Q1 shows a notable pullback in condo activity and dollar volume. The annual average increase with fewer sales suggests a concentration of higher‑priced condo closings over the trailing year but weakening near‑term demand. However, a large volume of pending sales remains for new luxury condominium developments throughout Deer Valley, indicating strong interest in this high-end condo market.

Land

- Q1 2026 vs Q1 2025: Transactions +14% (95 vs 83), volume roughly flat (+1%) at $131.5M, average price -12% to $1.384M, median price +3% to $980k.
- 12‑month: Transactions -6% (424), volume -13% to $522.2M, average price -7% to $1.232M, median price +14% to $922k.
- Takeaway: Mixed results — more Q1 land deals but smaller average sale amounts; on the year, fewer sales and lower volume but higher median, indicating a changing mix of parcels sold.

Overall Market View

The Park City single‑family segment drove overall market strength (higher transactions and significant annual volume gains). Condominiums experienced the sharpest near‑term slowdown. Land sales show mixed signals with Q1 activity uptick but softer annual dollars. The data point to a resilient luxury/second‑home market, with notable mix effects influencing averages vs. medians; watch inventory and buyer preferences in Q2 to confirm trend direction.

These statistical reports focus only on Closed Sales, but there is also a large inventory of pending sales for new luxury condominium development throughout the Deer Valley ski resort. These projects include the Four Seasons, Waldorf Astoria, Founders Place, Cormont, Marcella Landing, and Sommet Blanc. As these luxury projects complete construction over the next 1 to 3 years, we will see dramatically higher price points reflected in our closed-sale statistics.

For a more detailed report highlighting variations and trends between specific areas and communities, you can view this summary from the Park City Board of Realtors:

Park City Realtors Quarterly Report