Park City & Deer Valley Market Report
November Performance • Year-to-Date Trends • Outlook Through 2025
The Park City and Deer Valley real estate markets continued to demonstrate exceptional strength through November, driven by elevated luxury demand, expanding new-development activity, and strong winter-season buyer engagement. While inventory has grown year-over-year, pricing remains resilient—particularly in premium neighborhoods where buyers continue to prioritize location, design, and access to amenities.
November Market Performance
November delivered a strong month for upper-end transactions:
- 105 closings, nearly matching last year’s pace
- $341.5M in monthly sales volume, up nearly 50% year-over-year
- Average sale price: $3.25M, more than double November 2024
Despite buyers having more choices, the luxury segment of Deer Valley and Deer Valley East as well as Empire Pass continues to outperform the broader market. Inventory increased to 657 active listings, creating a healthier, more balanced environment.
Year-to-Date Market Overview
Jan–Nov 2025
The year-to-date numbers underscore the market’s resilience:
- 1,195 total sales across the Park City & Deer Valley region
- $3.64B in closed volume
- Average price holding above $3.0M
Luxury new construction—particularly in Deer Valley’s expanding ski terrain and the quickly developing Deer Valley East Mountain Resort—has been the largest driver of the elevated average price.
Top-Selling Neighborhoods of 2025
- Empire Pass (Deer Valley)
Empire Pass continues to lead the market with some of the highest prices per square foot in the state. New luxury inventory, ski-in/ski-out locations, and limited resale supply drive competitive bidding for top-tier units.
- Deer Valley East / East Village
Fueled by new development releases and the expansion of Deer Valley’s ski terrain, the Deer Valley East corridor has become one of Utah’s most active pre-construction zones. Buyers are moving early to secure future ski-front opportunities.
- Deer Crest
Deer Crest saw strong activity from second-home buyers and families prioritizing privacy, panoramic views, and direct access to the Deer Valley Gondola.
- Old Town Park City
Remodeled historic homes and new contemporary builds close to Main Street remain highly desirable. Tight inventory supported pricing stability even as more at-market listings appeared.
- The Canyons Village
New development around Pendry, Apex, and White Pine Canyon saw steady activity. High-end buyers continue to show interest in modern architecture paired with strong rental potential.
Notable High-End Sales
2025 Highlights
(Representative of closing trends across Deer Valley & Park City luxury segments)
- Ski-in/ski-out estates in Empire Pass achieved several of the year’s highest closings, with individual homes transacting between $12M–$20M+depending on scale, views, and proximity to lifts.
- Deer Crest lake-view estates continued to outperform broader luxury metrics, with multiple sales in the $9M–$15M range.
- Deer Valley East pre-construction reservations generated major volume, with penthouses and premier ski residences commanding $4M–$10Mcommitments ahead of vertical completion.
- Old Town luxury remodels traded at record prices per square foot—several exceeding $1,500–$2,000 PSF, underscoring demand for walkable, amenity-rich living.
Outlook for the Remainder of 2025
The closing months of 2025 are poised for continued strength:
- Lift in winter demand
Ski-season momentum, combined with Deer Valley’s terrain expansion and Deer Valley East’s ongoing infrastructure rollout, is expected to push December closings into one of the strongest finishes of the past five years.
- Inventory will continue expanding
More listings—particularly new-development inventory—will give buyers greater choice without significantly pressuring prices.
- Prices likely remain stable to slightly higher
Strong buyer demand at the top end, limited legacy resale supply, and continued developer activity support projections of:
- Average prices holding in the $3.0M–$3.3M range
- 2025 total sales volume reaching $4.2B–$4.4B
- Luxury leads the market
The majority of Q4 and early 2026 sales will continue to be driven by:
- Ski-in/ski-out properties
- Brand-new luxury development
- Turnkey, modernized Old Town homes
- Larger luxury estates in gated and view corridors
Final Takeaway
The Park City and Deer Valley real estate markets continue to distinguish themselves as some of the most enduring and sought-after resort communities in the country. Strong buyer demand, sustained high-end activity, and transformative development across Deer Valley and Deer Valley East position the region for a powerful finish to 2025 and continued momentum into 2026.
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