Looking historically, the Park City real estate market has been impacted by numerous events:

  • The 2002 Winter Olympics put Park City on the map driving development and purchases through 2005
  • The Financial Crisis of 2007-2008 resulted in a decreased number of transactions in 2008/2009 as well as average price per square foot declines ranging from -30% to -40% from peak levels until the rebound in 2012/2013

The COVID-19 Pandemic has driven Park City real estate to all-time highs with the lowest levels of inventory seen in over 20 years.

  • Contracts are being listed faster than they can be replaced.
  • We have written twice as many contracts this year as we did in the same time period last year (YTD).
  • The inventory shortage is more severe in some places than in others.

Let’s take a look at how the Park City market has faired compared to some other popular mountain town destinations.

For a more in-depth review of the market or to get a better understanding of how much your home might be worth in this strong market please don’t hesitate to reach out.

Park City:20192020% Change
Average Sold Price:$1,207,418$1,536,91327.3%
Average Sold Price per Sq Foot:$341$48141.1%
Average Days on Market:10094-6.0%
Highest Sold Price:$32,500,000$20,000,000-38.5%
Lowest Sold Price:$100,000$98,500-1.5%
Number of Properties Sold:1825242632.9%
% Sold Price to Original List Price:96.2%97.21.0%
Total Dollar Volume Sold:$2,203,537,006$3,728,551,13769.2%

Big Sky, Montana. Photo: Austin Farrington

Big Sky:20192020% Change
Average Sold Price:$1,118,809$1,628,54245.6%
Average Sold Price per Sq Foot:$449$56525.9%
Average Days on Market:11314225.7%
Highest Sold Price:$7,100,000$9,350,00031.7%
Lowest Sold Price:$72,500$180,000148.3%
Number of Properties Sold:26937639.8%
% Sold Price to Original List Price:97.696.2-1.5%
Total Dollar Volume Sold:$300,959,629$612,331,718103.5%

Vail, Colorado. Photo: Curt Nichols

Vail:20192020% Change
Average Sold Price:$1,300,483$1,572,33520.9%
Average Sold Price per Sq Foot:$541$60211.3%
Average Days on Market:121114-5.8%
Highest Sold Price:$20,750,000$29,750,00043.4%
Lowest Sold Price:$80,000$139,50074.4%
Number of Properties Sold:1351168224.5%
% Sold Price to Original List Price:96.697.10.6%
Total Dollar Volume Sold:$1,756,953,363$2,644,668,17950.5%


Reach Out

Julie Snyder, INHABIT Park City Summit Sotheby's

TEL. 339-222-0935
EMAIL. julie@inhabitparkcity.com