Homes for Sale in Park City, Utah

Park City’s real‑estate market remains **warm**, driven by a median home price of $1,999,999—292% above the Utah state median—and a strong 14.5% month‑over‑month price increase. Single‑family homes dominate the high‑end segment, selling at a median of $3.15 M with a modest 6.1% YoY gain, while townhomes and condos have softened, posting a 26% YoY decline to $925 K. Days on market are longer than the state average (95 vs. 79 days), reflecting the premium price point, yet the sale‑to‑list ratio stays high at 97.1%, indicating buyers are still willing to meet asking prices. Inventory is expanding modestly, with 399 new listings versus 187 closed deals, but the luxury inventory remains constrained (189 active SFRs, 289 active condos). On the macro side, mortgage rates have trended upward, climbing to 6.42% this month after a brief dip, while the Fed Funds rate is steady at 3.64% and unemployment remains low (Utah 3.6%). Consumer sentiment is stable, and housing starts are robust, supporting continued construction activity. Local news adds nuance: an AI‑driven property‑tax reduction saved owners $13.9 M, enhancing net returns; lift upgrades at Park City Mountain are expected to boost resort value, even as an unusually warm winter shortened the ski season. The upcoming Olympic and Paralympic Homecoming Parade underscores the city’s cultural cachet, further reinforcing its attractiveness to affluent buyers despite rising financing costs.