Park City Real Estate Market Report
Q3 2026 data · Updated November 2026 · Mark Rodeheaver, Associate Broker, Berkshire Hathaway HomeServices Utah Properties
The short version: Park City isn't falling. It's splitting. Q3 2026 sales totaled $1.591 billion, up 2% from a year ago, on 7% fewer transactions. In most areas, homes priced below the local median still have less than five months of supply. Above the median, buyers have 7 to 17 months of inventory to choose from, and they're negotiating like it.
Q3 2026 at a glance
The 12-month view is steadier: $5.776 billion across 2,656 sales for the year ending September 30, up 3% in volume on 1% fewer sales. Fewer deals, similar dollars. Buyers are paying up for the right property and passing on the rest.
By property type
Q3 2026 sales, MLS-wide, versus Q3 2025
Property type | Sales | Change | Volume | Change |
|---|---|---|---|---|
Single-family homes | 399 | −1% | $1.139 billion | +10% |
Condominiums | 167 | −28% | $249.0 million | −34% |
Land | 133 | +15% | $202.7 million | +32% |
Single-family homes: fewer sales, higher prices. That pattern has held all year. Over the trailing 12 months, single-family sales rose 5% and volume rose 9%, to $3.73 billion.
Condominiums are correcting. Condo sales are down 19% over the trailing 12 months, and condo listings are up 38% from a year ago. The Park City Board of REALTORS® now calls it a broad correction rather than a new-construction hangover. Rick Klein's read is that part of the drop is timing, as Jordanelle's new projects sell out and fewer closings remain in the pipeline. Both can be true. Either way, condo buyers have options they didn't have in 2024.
Land keeps climbing. Land was the only property type up in both sales and volume this quarter. Promontory lots drove most of it: 40 sales, up from 18, totaling $72.8 million. Over the trailing year, a single large South Jordanelle project accounts for much of the land gain.
Two markets, split at the median
Months of supply tells you who has leverage. Under about five months generally favors sellers. Over nine generally favors buyers.
Single-family homes: months of supply, September 2026
Area | Area median (12 mo.) | Below median | Above median |
|---|---|---|---|
Park City limits | $3.80M | 4.2 | 13.1 |
Snyderville Basin, including Promontory | $2.70M | 4.7 | 6.9 |
Jordanelle | $3.88M | 10.5 | 13.3 |
Heber Valley | $1.04M | 4.8 | 9.3 |
Kamas Valley | $776K | 3.5 | 16.9 |
Condominiums: months of supply, September 2026
Area | Area median (12 mo.) | Below median | Above median |
|---|---|---|---|
Park City limits | $2.25M | 9.8 | 8.4 |
Snyderville Basin | $995K | 10.7 | 9.3 |
Jordanelle | $1.25M | 7.8 | 10.2 |
Months of supply as of September 2026, compiled by Rick Klein from Park City MLS data.
A home above $3.8 million inside Park City limits is competing with roughly a year's worth of inventory. The same home in Promontory faces about half that. Pricing off the overall Park City trend misses that difference.
Deer Valley
The top of Deer Valley held up. Upper Deer Valley closed three single-family homes in Q3 at a median of $8.6 million, after none in Q3 2025. Empire Pass homes held a $14.6 million median over the trailing year.
Deer Valley single-family homes
Area | Q3 sales | Q3 median | 12-mo. sales | 12-mo. median |
|---|---|---|---|---|
Empire Pass | 2 | $14.65M | 6 | $14.60M |
Deer Crest | 1 | $15.50M | 3 | $13.49M |
Upper Deer Valley | 3 | $8.60M | 8 | $8.01M |
Lower Deer Valley | 1 | $5.80M | 6 | $4.78M |
Deer Valley condominiums
Area | Q3 sales | Q3 median | 12-mo. sales | 12-mo. median |
|---|---|---|---|---|
Empire Pass | 3 | $4.95M | 16 | $5.88M |
Upper Deer Valley | 3 | $2.60M | 15 | $5.56M |
Deer Crest | 0 | — | 23 | $5.52M |
Lower Deer Valley | 12 | $2.10M | 42 | $2.30M |
These are small numbers. One sale moves a median by millions, so read the trailing 12 months before the quarter. Lower Deer Valley condos are the clearest soft spot: 12 sales, down from 19, with volume down 66%.
Deer Valley East Village recorded two single-family sales over the trailing year, totaling $31.9 million, after none the year before. Condo closings there fell to 15 from 76 a year earlier, when the first wave of new-construction units recorded. Medians in East Village reflect which units happened to close, not a change in value. Read the full East Village breakdown →
Old Town and Park City limits
Old Town closed just four single-family homes in Q3, down from 18. Over the trailing year it's a different story: 39 sales, nearly even with 41 the year before, at a $3.4 million median, down 11%. The quarter overstates the slowdown, but prices in town have softened. Thaynes Canyon went the other way, with seven sales at a $6.39 million median. Old Town condos closed 15 sales at a $1.14 million median, down from 24.
Promontory, Glenwild and the gated golf communities
Promontory carried the quarter. Single-family sales doubled to 54, totaling $300.3 million at a $4.78 million median. Over the trailing year, Promontory closed 134 homes for $757.8 million, up 50%.
Gated golf communities, trailing 12 months
Community | Sales | Change | Median |
|---|---|---|---|
Promontory | 134 | +33% | $4.78M |
Red Ledges | 57 | +6% | $3.65M |
Tuhaye | 26 | +4% | $5.41M |
Victory Ranch | 15 | −35% | $4.45M |
Glenwild | 11 | +22% | $8.50M |
Across these five communities, trailing-year volume reached $1.325 billion, up 33%. These figures come from the Board's gated golf community report, which draws community boundaries slightly differently than the MLS areas above. Buyers who want a club are still paying for one. What club membership actually costs →
Jordanelle and Heber Valley
Jordanelle single-family sales fell to 21 from 32 in Q3, and homes above $3.9 million carry 13.3 months of supply. Mayflower-Jordanelle is the exception over time: 26 home sales in the trailing year, up from 14. In Heber Valley, Red Ledges led with 15 sales at a $4.0 million median.
My read
If you're selling above your area's median
Price for the market you're actually in. You're competing with a year of inventory in town and in Jordanelle, and buyers have time to compare. The homes that sell are priced right in the first 30 days, show well, and have something specific a buyer can't find down the street. Promontory and the gated golf communities are the exception. Demand there is real.
If you're buying
This is the most room to negotiate I've seen above $4 million in several years, especially in Old Town, Lower Deer Valley condos and Jordanelle. That leverage won't last if rates ease or the condo backlog clears. The best homes in Deer Valley and Empire Pass still aren't discounted much. The deals are one tier below them.
If you own a condo
Don't wait for 2024 pricing to come back on its own. Inventory is up 38%. If you plan to sell in the next year, the spring market is your best window, and preparation should start now.
Common questions
What is the median home price in Park City?
For single-family homes across Summit and Wasatch Counties, the Q3 2026 median was $2.01 million. Inside Park City limits, the trailing 12-month single-family median was $3.80 million. Condos in town ran $2.25 million.
Is the Park City real estate market slowing down?
Transactions are down. Sales fell 7% in Q3 and pending sales fell 19%. Dollar volume isn't, up 2% for the quarter and 3% for the year. The market is more selective, not collapsing.
Is it a buyer's or seller's market in Park City?
It depends on price. In most areas, homes below the median have under five months of supply, which favors sellers. Above the median, supply runs 7 to 17 months, which favors buyers.
Are Park City condo prices dropping?
Sales are down sharply: 19% fewer over the trailing year, with 38% more condos listed. Medians are mixed because the mix of units closing has changed. Expect more negotiation on condos than on single-family homes.
Talk it through
These numbers describe the market. Your property or search is its own case. If you want to know what this means for a specific home or neighborhood, call or text me at 435.659.8993.
Mark Rodeheaver, Associate Broker · Berkshire Hathaway HomeServices Utah Properties
Data: Park City Board of REALTORS® / Park City Multiple Listing Service, Q3 2026 Market Report and statistics for the period ending September 30, 2026. Data is preliminary and subject to revision. Months of supply, inventory and pending-sales figures compiled by Rick Klein from Park City MLS data. Information is deemed reliable but not guaranteed and is not investment advice.
