Photo: Park City Mountain.

PARK CITY, Utah — In a dynamic and ever-evolving real estate industry, Summit Sotheby’s International Realty is proud to release the 2023 Resort Report. This annual publication is created entirely in-house, providing an in-depth overview of the unique resort community markets spread across the Mountain West.

After record-breaking transaction volume in 2021 and 2022, market demand for real estate located in mountain communities throughout the western United States remains strong.

Taking an in-depth look at these specific markets, Summit Sotheby’s International Realty’s annual Resort Report highlights areas including Park City, Utah; Aspen, Beaver Creek, Breckenridge, Crested Butte, Snowmass Village, Steamboat Springs, Telluride, Vail, and Winter Park in Colorado; Sandpoint and Sun Valley in Idaho; Jackson Hole, Wyoming; Big Sky and Whitefish, Montana; North and South Lake Tahoe, California/Nevada; and Santa Fe, New Mexico.

“As leaders in Utah’s luxury real estate industry and professionals serving a high-demand resort market, it’s vital that we stay up-to-date with shifting trends as the market changes.” said Emily Augello, VP of Marketing for Summit Sotheby’s International Realty. “In addition to our Resort Report, our team also publishes Quarterly Market Reports and our signature bi-annual publication, Collections Magazine. We have the experience, tools and sophistication needed to help sellers today position their home on market, and to match buyers with the perfect ski destination for their unique needs. Providing accurate market information is just one way we stay informed and ensure we provide a real estate experience that goes above and beyond the competition.”

Home prices have continued to climb as buyers seek properties in desirable locales with convenient access to ski resorts, open space, rivers, and lakes.

Over the last year, the average sold price for homes rose by 12.86% across the seventeen resort communities profiled in this report. However, year-over-year transaction volume has begun to stabilize from the buying frenzy these resort regions experienced over the past two years.

“In today’s shifting market, pricing, launch strategy and marketing matters more now than ever before.” said Thomas Wright, President and Principal Broker of Summit Sotheby’s International Realty. “Demand remains strong for properly positioned real estate throughout Park City and the Wasatch Back, with buyers continuing to show interest from our key feeder markets. Because of Park City’s great proximity to the new Mayflower Mountain Resort, which is scheduled to open during the ‘24-25 ski season, we anticipate continued buyer demand from major metropolitan feeder areas well into 2023.”

In part because of the truly connected affiliate network behind Sotheby’s International Realty, Summit SIR’s annual Resort Report has become one of the most widely read and distributed market data reports in the United States. No matter the location, lifestyle or real estate need, this network – powered by innovation, heritage and results – delivers luxury experiences, timely market commentary and property resources unlike any other.

To read the complete 2023 Resort Report or any other publications direct from Summit Sotheby’s International Realty, visit summitsothebysrealty.com/eng/market-reports today to see how our one-of-a-kind mountain resort locale compares to other destinations.