Park City inventory is increasing: buyers may not have as much leverage as they think

For the first time in several years, Park City buyers have options. Inventory is growing, homes are taking longer to sell in some segments, and buyers have more time to compare properties than they did during the pandemic years. On paper, that sounds like the start of a buyer’s market.

Park City has never been a market that behaves well on paper. The numbers show a market becoming more balanced, not cheaper. Buyers may have negotiating room on one property and find themselves competing for another a few streets away. The difference comes down to location, condition, price and whether the property is something buyers actually want.

More inventory doesn’t mean every seller is motivated

Inventory has improved across the greater Park City market, especially in condos. Second quarter data showed single-family inventory up 3% and condo inventory up 17%. The overall absorption rate rose to 8.7 months, its highest level since the summer of 2020. Buyers have more choices and, in many cases, more time to decide.

The numbers don’t explain why certain properties are still sitting. Some are priced too aggressively. Some need significant updating. Some don’t compare well against the competition. Those listings can give buyers real negotiating room, and they can also make the market look softer than it is. A home that is well located, thoughtfully updated and priced correctly is operating in a different environment.

Buyers are more selective

More options has changed how buyers approach the market. Instead of acting because inventory is limited, they can look harder at condition, design, privacy, views and ease of ownership. They are still willing to spend for the right property. They are much less willing to compromise when the value isn’t there.

The sales numbers support that. During the 12 months ending June 30, total Park City MLS sales volume reached $5.73 billion, up 9% from the previous year. Single-family transactions increased 8%, sales volume increased 15%, and the median single-family price across the MLS rose to $1.7 million, up 10%.

The condominium market shows it more clearly. For the first time in more than a decade, condos priced above the median in both in town and Snyderville sold faster than those priced below the median. In a market with rising inventory, that matters.

Buyers are not chasing the lowest price. They are paying for the properties they believe offer the strongest combination of quality, location and value.

Where buyers do have leverage

More inventory is still a welcome shift for buyers. There is more time to evaluate options, complete due diligence and understand how a property compares with others on the market. Homes that have accumulated days on market, need substantial work or are competing against several similar listings can give buyers room to negotiate on price or terms.

The trouble starts when buyers assume those conditions apply to every listing. A property that comes to market in excellent condition, in a location people want, at a price buyers view as reasonable will still attract immediate attention. The advantage right now comes from recognizing which listings are real opportunities and which only look like them.

Park City is still a market of individual properties

Broad market statistics have always needed context here. Old Town does not behave like Park Meadows. Deer Valley is nothing like Promontory or the Snyderville Basin. A turnkey ski property and a home that needs a major renovation can sit in the same price range and appeal to completely different buyers.

The differences show up inside a single neighborhood too. Views, lot position, privacy, updates and presentation produce very different outcomes for homes that look similar on a spreadsheet. Understanding the individual property matters more now that buyers have choices.

For sellers, more competition means pricing and presentation matter more than they did when inventory was thin. Buyers have enough options to recognize quickly when a property is out of step with the market. For buyers, more inventory means more room to negotiate. It does not mean the strongest properties will become bargains.

For a closer look at Park City neighborhoods, current listings and the local real estate market, visit InhabitParkCity.com.

Julie Snyder is a top-producing Park City real estate agent and a Top 100 Sotheby’s International Realty Global Real Estate Advisor with Summit Sotheby’s International Realty. She is also the founder of Inhabit Park City. Julie closed more than $105 million in sales in 2025 and has surpassed $350 million in career real estate transactions.

Specializing in luxury real estate throughout Park City, Deer Valley, and the greater Wasatch Back, Julie represents buyers and sellers of primary residences, ski homes, second homes, land, and new construction. Her expertise extends across the area’s most sought-after communities, including Empire Pass, The Colony, Promontory, Glenwild, Old Town, Park Meadows, Canyons Village, and Jordanelle.

Known for her analytical market insight, strategic pricing, sophisticated property marketing, and strong negotiation skills, Julie helps clients navigate Park City’s highly segmented real estate market with clarity and confidence. She combines deep local knowledge, the global reach of Sotheby’s International Realty, and strong relationships throughout Summit and Wasatch counties to provide clients with informed guidance and access to listed, pre-market, and off-market opportunities.

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