Market Update

Construction is officially underway at The Otto, marking the beginning of the final phase in the development of this thoughtfully planned community. The development team is excited to announce this major milestone and thrilled to begin work on what will be the final chapter of the neighborhood. This past winter brought a strong sales release, with 17 families joining the community. Currently, 7 beautiful homes remain available in this final phase, offering a limited opportunity to become part of this vibrant and growing neighborhood.

Ogden Valley saw a standout April, with total sales volume doubling year over year to $32M. The market also posted a sharp month-over-month surge, with 27 homes sold—triple March’s total—signaling growing momentum heading into summer.

The waning days of ski season offer an opportunity to evaluate the first chapter of 2025 for Park City real estate. While the greater economy was defined by wild swings, the market for elite resort property saw largely unprecedented growth. As high interest rates and other forms of headwind slowed entry and mid-level price categories, the premium segments drew outsized weight, fueling growth across all metrics.

Following a month in which sales activity was overwhelmingly weighted toward ultra-premium properties driving average and median prices to all-time highs, February showed activity consistent with much of the previous 12 months.

Ogden Valley real estate has entered 2025 with strong momentum. Transaction volume surged nearly 70% year-over-year, setting the stage for an active start to the year. Sellers remained confident in pricing, though accepted offers hovered around 86% of asking. Even so, values continued their upward trajectory, with the median sales price climbing 14% to surpass $1M.

Park City real estate has begun 2025 with a seismic boost. While the total number of transactions is among the lowest for any January on record, the composition of these transactions is so heavily skewed the high end of the market as to skew median price upward by 52% over 2024.

Introducing the Four Seasons Resort & Private Residences Deer Valley, the newest development announced for Deer Valley East

The resilience of the Park City real estate market was ever apparent through 2024. The year was characterized by increased sales and a remarkable finish in December that has drawn attention and set a positive tone for the upcoming year.

The highly anticipated Phase III of Founders Place—known as Otto—is now available for reservations.

In November, the Park City real estate market reflected trends consistent throughout 2024, showcasing a healthy balance between sales activity and price adjustments.

In October 2024, the Park City real estate market experienced a remarkable resurgence, marking a significant shift from the sluggish activity observed over the summer months. For the first time since July, the total number of real estate transactions surpassed the previous year’s figures, indicating a revitalization in buyer interest and market momentum.

In the third quarter of 2024, Park City’s real estate market experienced notable shifts, with increased inventory and some fluctuations in pricing and transaction volumes. Despite these variations, the luxury segment remained a focal point, showing continued resilience and demand.

Through the first half of 2024, Park City real estate has been the picture of consistency. After a year in which national trends showed sluggish results, demand for the extraordinary offerings of Park City continued to push pricing to record highs through 2023. Year-to-date, transaction volume and prices have been almost identical to the prior year.

April 2024 represented an interesting period for the performance of Park City real estate. The month recorded the highest quantity of residential transactions in 9 months and equaled the greatest productivity since June, 2022. The average sale price of just over $2,500,000 surpassed any month year-to-date and offered the highest total dollar volume in 24 months.

April 2024 represented an interesting period for the performance of Park City real estate. The month recorded the highest quantity of residential transactions in 9 months and equaled the greatest productivity since June, 2022. The average sale price of just over $2,500,000 surpassed any month year-to-date and offered the highest total dollar volume in 24 months.

The Park City real estate market finally pumped the brakes the slightest bit in February after a gravity defying period that defied national trends.

Park City real estate began 2024 with an above-average volume of transactions continuing momentum built over the last 6 months.

Park City real estate exits 2023 in substantially better condition than it entered based upon nearly every quantifiable metric. To have equaled the previous year’s total number of transactions while achieving modest growth in average and median price amid a year in which interest rates spiked.