Current Market in Park City

Current Market in Park City in 2022

In 2021, everyone watched in awe as real estate markets across the country achieved record-breaking figures and an influx of buyers despite low inventory. While some real estate organizations and mortgage companies are hopeful that growth will continue in 2022, many see a different scenario. Let's take a look back at the real estate market in Park City, Utah in 2021, and see what 2022 may have in store for the best small town in America.

There’s no doubt that 2021 was a significant and rather crazy year for real estate in the United States. Home prices rose quickly that year, so much so that by June of that year, the national median home price was already at $362,800, according to the National Association of Realtors (NAR).

Low mortgage rates (relatively speaking) and limited inventory drove prices higher. In fact, in June 2021, the number of homes for sale across the US was only 1.38 million. People were so eager to purchase homes, listings rarely stayed on the market for a month. Approximately 60% of homes available on the market were sold in just two weeks.

In Park City, Utah, national real estate market trends were as evident. Back in August 2020, the number of homes for sale in Park City went below 1,800 units, which only happened five times in the last eight years.

Home prices zoomed as inventory plummeted. According to the Park City Board of Realtors’ multiple listing service, average and median listing prices went up by 28% and 24% respectively. As of March 2022, the median listing home price in Park City was $1.8 million, while the median listing home price per square feet was $952. While 2021 saw strong market conditions and record-breaking sales, it’s quite unlikely that 2022 will exceed those numbers. But even if 2022 doesn’t look as frenzied for real estate sales as 2021 was, it’s still likely to exceed pre-pandemic levels, which is a good thing.

The same can be said for the real estate market in Park City, Utah. As the demand for properties rises and the inventory stays low, prices will continue to reflect the deficit. Prime properties continue to sell at a premium, and in some cases, the sales price is 10% over the asking price. While selling agents try to prep sellers for more days on the market, multiple offers have pushed prices to the "current market price." The average home in Park City is currently selling for $689 per square foot. Mortgage rates tend to be affecting the entry point of the real estate market in Park City. However, plenty of buyers are willing to pay cash for a property to use and love. In addition, many buyers view owning real estate in Park City as a hedge against inflation.

Park City, Utah is an excellent place to live because of its small-town vibe, its many opportunities for outdoor activities, excellent schools, ski resorts, and lower taxes. It’s not hard to see why there’s such a huge demand for properties in this side of Utah.

Browse The Newest Listings

99 Properties
Page 1 of 9
$18,500,000
Neighborhood: Park Meadows
6
Beds
3F33/411/2
Baths
11,106
Sq.Ft.
2015
Year Built
1
Day on Site
12301769
MLS
Nestled on the crest of Quarry Mountain, this extraordinary property offers more than just breathtaking views; it provides an intimate connection to the natural beauty that defines the region. The...
$1,900,000
Neighborhood: Wallsburg
6
Beds
4
Baths
4,578
Sq.Ft.
1997
Year Built
1
Day on Site
12301751
MLS
Come live in a Custom built home in the quaint little town of Wallsburg! 15.61 acres Mountain views looking over Little valley!! The home was built in 1997 by a builder that intended on occupying the...
Pending
1051 Station Loop Rd Park City,  UT 84098
$1,399,000
Neighborhood: Blackhawk Station
3
Beds
1F13/411/2
Baths
1,932
Sq.Ft.
2001
Year Built
1
Day on Site
12301168
MLS
Enjoy the Park City lifestyle from this 3BD 3BA home in Blackhawk Station. Close to everything Park City has to offer, with Kimball Junction just around the corner, and Historic Main Street 10...
$7,250,000
Neighborhood: Old Town Area
4
Beds
1F43/411/2
Baths
4,692
Sq.Ft.
2017
Year Built
1
Day on Site
12301773
MLS
Perched majestically above Old Town, this extraordinary Park City residence boasts 4 bedrooms and 6 bathrooms, offering a truly remarkable living experience. Spectacular vistas of the city and...
$681,000
Neighborhood: Fox Bay
2
Beds
1F13/4
Baths
1,028
Sq.Ft.
2002
Year Built
1
Day on Site
12301772
MLS
Time to start loving where you live. Welcome to this stunning condo nestled in the beautiful community of Fox Bay. This exceptional location offers a serene and picturesque mountain setting, perfect...
$4,000,000
Neighborhood: Shooting Star
3
Beds
2F13/411/2
Baths
2,114
Sq.Ft.
2006
Year Built
1
Day on Site
12301774
MLS
Ideally situated third floor unit at Shooting Star in Empire Pass at Deer Valley Resort. The unit has beautiful Deer Valley views and is located on the corner of the building with a wraparound deck....
Open 6/3
1231 W Wintercress Trl Heber City,  UT 84032
$1,195,000
Neighborhood: Black Rock Ridge
3
Beds
2F11/2
Baths
2,494
Sq.Ft.
2016
Year Built
1
Day on Site
12301776
MLS
Relax as you enjoy your unobstructed Park City and Deer Valley views in one of the most private townhomes in all of Black Rock Ridge.Whether your perspective is from the oversized covered outdoor...
Open 6/4
2344 Saddlehorn Dr Park City,  UT 84098
$3,000,000
Neighborhood: Bison Bluffs
5
Beds
4F11/2
Baths
4,331
Sq.Ft.
2008
Year Built
1
Day on Site
12301777
MLS
This exquisitely designed 5 Bedroom 5 bath home located in the very desirable Bison Bluffs neighborhood which boasts many full-time residents and a close proximity to trails. This 4331 Square Foot...
Pending
16 Lucky Star Dr Park City,  UT 84060
$5,250,000
Neighborhood: Bellearbor
4
Beds
4F11/2
Baths
4,143
Sq.Ft.
2004
Year Built
1
Day on Site
12301778
MLS
The spacious great room has double height windows looking west to the mountains and a wood covered vaulted ceiling, large stone, wood-burning fireplace all with a traditional elegance. The main level...
$1,610,000
Neighborhood: Rustler At Hideout Canyon
3
Beds
2F13/411/2
Baths
2,902
Sq.Ft.
2013
Year Built
1
Day on Site
12301377
MLS
Check out all the wow this home has to offer... Views Views and More Views. , built-in shelves for each of the closets, including the pantry, Dual zone heating and air conditioning, tankless water...
$1,299,000
Neighborhood: Midway
5
Beds
3F11/2
Baths
4,197
Sq.Ft.
2003
Year Built
1
Day on Site
12301779
MLS
This lovely Midway home is situated on a shady, fenced lot above the Heber Valley floor in the quiet neighborhood of Alpenhof Estates (no HOA here!). Convenient Main Level living with two bedrooms...
$1,125,000
Neighborhood: Valley Hills
7
Beds
3F11/2
Baths
5,050
Sq.Ft.
2000
Year Built
1
Day on Site
12301780
MLS
Enter this spacious 7 bed/3.5 bath Valley Hills home through the beautiful entryway past the formal dining room or luxurious home office and into the great room with its vaulted ceiling, gas...

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