Our current real estate market feels a little different to me. Perhaps because I have been selling real estate in Park City for almost 23 years, I feel market shifts before the data comes in to support them.
For the last several years, we have known, and the data has supported, a couple of facts:
- Overpriced homes will languish on the market, finally selling at a price below what would be expected if the home were priced right from the start.
- The higher end of the Park City real estate market ($10m+) is not sensitive to interest rate changes and has surged in the past 12 months.
- A home that has been updated, attractively presented, well-maintained, and is move-in ready will command a higher price and will sell faster than a home that is in original condition and looks like it “needs love”.
Dissecting the Year-to-Date Data
I looked at 2026 year-to-date data for single-family homes in the major Park City neighborhoods compared to the same data in 2025. What I learned contained a few surprises.
| Area | Active 2025 | Active 2026 | Active % Difference | Sold Volume 2025 | Sold Volume 2026 | Sold Volume % Difference |
| Heber | 255 | 257 | 1% | 77,855,060 | 84,774,106 | 8% |
| Jordanelle | 89 | 102 | 14% | 49,022,250 | 102,034,313 | 108% |
| Kamas | 77 | 93 | 20% | 32,108,955 | 15,882,845 | -50% |
| Park City Limits | 101 | 124 | 22% | 175,395,585 | 4,199,406 | -28% |
| Park City Snyderville | 261 | 228 | -12% | 4,206,735 | 4,838,857 | 13% |
Inventory is growing in the Jordanelle, Kamas, and Park City Limit areas, while Snyderville Basin is more competitive, with inventory down 12%. You can see that the dollar volume in Snyderville Basin, which includes Promontory, was up 13% while inventory was down 12%.
Of the 70 closed sales in Snyderville Basin, 21 (almost 1/3) were located in Promontory. Of the 25 sales in the Jordanelle, almost half were located in Tuhaye and SkyRidge. The strength of sales in Promontory, Tuhaye, and SkyRidge shows the appetite buyers have for new construction that is rich in amenities.
We can see the same trend in the Heber Valley. Of the 50 homes sold, 9 sold at Red Ledges, two sold at Timp Grove, and three were brand new homes at Crossings at Lake Creek. All of these neighborhoods are higher priced than the median Heber Valley home price of $1,343,436.
It is interesting to note that the percentage of list/sale price rises or falls as inventory decreases or increases. For example, in Snyderville Basin it is 97% in 2026, compared to 95% in 2025; in Kamas, it was 94%, compared to 98%, respectively.
So what does this data mean for our clients?
As a buyer, you have more choices and leverage as inventory rises. As a seller, you must understand the market you are competing in and get the price right when your home goes on the market. Our real estate market is nuanced and there has never been a more important time to seek the help of an experienced real estate professional.