Why Single-Family Sales Are Up 14% While Condos Fell 31% — And What It Means If You're Buying or Selling in Park City
By Mark Rodeheaver | listingparkcity.com | May 2026
The headline numbers from Q1 2026 look contradictory at first. Single-family home sales in the greater Park City market were up 14% in transactions and 9% in total volume compared to Q1 2025. At the same time, condo transactions collapsed — down 31%, with total condo volume off 41%.
Same market. Same quarter. Two completely different stories.
If you're a seller, a buyer, or an investor trying to figure out what's actually happening in Park City right now, here's the honest breakdown.
The Single-Family Market Is Genuinely Strong
Let's start with what's working.
Single-family homes are outperforming because the fundamentals are intact: constrained supply, no significant new inventory coming to market, and steady demand from high-net-worth buyers who want a permanent or semi-permanent presence in a resort town. Park City's geographic limits — zoning restrictions, land scarcity, infrastructure constraints — mean you simply can't flood the market with new single-family product.
Park Meadows is a good example of what "strong" looks like right now. Q1 2026 delivered a 100% sale-to-list ratio there with a median sale price of $2,775,000 and a median days-on-market of 42. That's not a market in distress. That's a market where correctly-priced homes are moving.
Glenwild told a similar story: five closings in Q1, median sale price of $7,375,000, max at $9 million. Low inventory, long-term ownership profile, stable pricing.
At the very top of the market, The Colony at White Pine Canyon produced two of the three largest sales in all of Park City in Q1: a $25.3 million closing in March and a $23.5 million close in January. Combined Q1 volume at The Colony hit $58.3 million across three transactions.
The message for single-family sellers: if your home is positioned correctly relative to current comparable sales, you are in a good spot. The key word there is "correctly." The market punishes optimistic pricing hard right now. Newer construction, ski access, and core locations continue to attract qualified buyers. Average product is competing harder.
The Condo Numbers Are Misleading — Here's Why
The 31% drop in condo transactions and the 41% collapse in condo volume look alarming. They're not.
The explanation is almost entirely one story: Deer Crest and the Founders Place inventory wave.
In Q1 2025, Deer Crest logged 29 condo transactions — most of them driven by new Founders Place units coming to market. In Q1 2026, that number fell to 4. That's not demand evaporating. That's a supply-driven surge from one year normalizing in the next.
The Park City Limits condo market absorbed an extraordinary amount of luxury inventory. Now it's digesting it.
Here's the number that tells the real story: on a rolling 12-month basis, Park City Limits condo volume is actually up 12%, and the median condo price rose 17% to $2.25 million. That's not a market in distress. That's a market that consumed a wave of new supply and came out healthier on the other side.
Canyons Village condos also bucked the trend — 26 sales generating $48.1 million in Q1 2026, up 26% in volume. If you're looking at condo opportunities, the Snyderville Basin was the one submarket that showed positive Q1 results.
For condo buyers: this is actually a decent environment. More selection, more negotiating leverage, less competition than the pandemic peak years. For condo sellers: pricing accuracy matters more than ever. The days of listing above market and waiting for a buyer to chase you are over.
The Bigger Picture: What's Driving Park City Through the Rest of 2026
Two things are reshaping this market over the next 12–24 months and both push in the same direction: upward demand for well-located luxury product.
Deer Valley's East Village Expansion. The $5 billion buildout delivered nearly 100 new named ski runs, 10 new lifts, and pushed Deer Valley to 5,700 total acres for the 2025–26 ski season. The Grand Hyatt opened with 381 rooms and 55 private residences — priced from $2.3 million. Over 1,700 new residential units and 800 hotel rooms are coming to that corridor. This isn't just a resort story. It's a new neighborhood being built from scratch, with new price anchors and a new reason for buyers from LA, Dallas, New York, and Chicago to take Summit County seriously.
Marcella at Deer Valley. All 144 estate lots are committed. The first Tiger Woods-designed golf course in Utah is under development. An active listing is sitting at $27.9 million. This community is establishing the next tier of ultra-luxury pricing in the market.
Rates are a headwind. As of today (May 18), the 30-year fixed sits at 6.49% — up 27 basis points from last week. For luxury cash buyers, this is largely irrelevant. For buyers financing a portion of a $3–5M purchase, it's a real number worth modeling carefully.
The Bottom Line
The Park City market in 2026 is not a headline — it's a spreadsheet. The single-family story and the condo story are different, the sub-market stories are different, and the pricing accuracy question is what separates properties that move from properties that sit.
If you're thinking about selling, the question isn't whether Park City is a "good market." It's whether your specific property is priced relative to what has actually closed. Those are two very different conversations.
If you're thinking about buying, the condo market is giving you more room than it has in years. The single-family market, especially at the top end, is still competitive for the right product.
Either way — know your numbers. The data is there if you look at it honestly.
Mark Rodeheaver is an Associate Broker at 2200 Park Ave, Park City, UT 84098. Reach him at 435.659.8993 or listingparkcity.com. Data sourced from Park City Board of Realtors Q1 2026 Quarterly Statistics.
