Park City Board of REALTORS®

1889 Prospector Ave., Park City, UT 84060  •  (435) 200-6900

Serving Summit and Wasatch Counties

 F O R   I M M E D I A T E   R E L E A S E

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Park City Real Estate: Q2 2026 Market Report

Period Ending June 30, 2026

July 2026 – The second quarter of 2026 offered the Park City market its clearest signal yet that a new equilibrium is taking hold—and that it looks considerably different depending on where you’re standing. Single-family homes held their own. Condominiums continued their post-Founders Place digestion. And land—the quiet category that rarely grabs a headline—absolutely exploded, posting the quarter’s most dramatic gains across every geographic area. Taken together, the total market generated $1.358 billion in Q2 2026 sales, a 7% increase over Q2 2025, on 10% more transactions. That’s a healthy quarter by any reasonable measure.

The Big Picture: Market Holds at $1.36 Billion

When all three property types are combined, Q2 2026 outpaced Q2 2025 in both units and volume. The composition shifted meaningfully, however: land surged, single-family held steady, and condominiums edged down slightly. Meanwhile, the rolling 12-month totals—the most reliable indicator of sustained direction—show overall market volume up 9% to $5.73 billion.

Rolling 12-month context: Across all property types for the year ending June 30, 2026, the market generated $5.728 billion from 2,695 transactions—compared to $5.234 billion from 2,674 transactions a year prior. That’s a 9% volume gain on essentially flat unit count, which means average prices are rising. The combined residential market (single family plus condos) totaled $5.077 billion, up 8% year-over-year.

Single-Family Homes: Steady as She Goes

With 319 single-family transactions generating $840.9 million in Q2 2026—up 6% in units and 2% in volume from Q2 2025—the single-family market delivered a solid, if unspectacular, spring selling season. The rolling 12-month picture is stronger: 1,341 sales totaling $3.609 billion, up 8% in units and 15% in volume. Median prices across the full MLS area rose 10% year-over-year to $1.7 million.

Standout Stories

Park City Limits: Spring Rally

Park City proper bucked the broader trend with a 21% jump in transactions (24 to 29 sales) and a 35% surge in volume to $148.8 million. Park Meadows (Area 09) was the standout—10 sales at a median of $3.95 million, volume up 61%. Old Town held flat at 7 transactions with the identical $3.65 million median as Q2 2025. Empire Pass produced the quarter’s single most dramatic data point: one home sold for $25 million—the only transaction in the area for the quarter, pushing the “average” to $25M. Context matters.

Snyderville Basin: A Softer Quarter

Snyderville Basin saw 77 single-family sales generating $289.2 million—down 8% in units and 19% in volume. The rolling 12-month data is more reassuring: 369 sales totaling $1.338 billion, up 5% and 8% respectively. Within the quarter, there were meaningful divergences:

• Glenwild (Area 18): 4 sales at $35 million (+110% volume), with a median of $8.33 million (+60%). Glenwild continues to post some of the most striking luxury appreciation numbers in the market.
• Promontory (Area 22): 17 sales at $126 million. Though units fell 32%, the average sale price rose 40% to $7.41 million and the median jumped 28% to $6.6 million. Fewer transactions, higher quality.
• Silver Springs Area (Area 12): 60% more transactions (8 sales) at a 123% volume increase. Average price rose 39% to $3.06 million.
• Canyons Village (Area 10): ⚠️ One sale at $13.8 million versus four sales averaging $21.8 million in Q2 2025. Extremely low transaction count makes comparisons unreliable—watch this number stabilize over the rolling 12-month window, where 6 sales at $102.6 million still represent a healthy sub-market.

Jordanelle: A Year of Growth

Quarter-over-quarter, Jordanelle single-family activity was nearly flat—24 sales at $111.2 million versus 26 sales at $109.6 million. But the trailing 12-month picture tells a dramatically different story: 125 sales totaling $569.3 million, up 47% in units and 57% in volume. Tuhaye continues to deliver premium results (28 trailing-12-month sales averaging $6.55 million each). Mayflower-Jordanelle logged 29 sales in the trailing year, up 263%, as the new neighborhood finds its footing with a median of $4.06 million.

Heber Valley: Volume Dips, Prices Hold

Heber Valley’s 97 Q2 sales were essentially flat (+2%) but volume fell 10% to $147.2 million—a function of product mix rather than price collapse. Red Ledges remained the area’s prestige anchor with 12 sales averaging $3.76 million each (up 38%). The rolling 12-month median of $1.05 million is up 1%, confirming price stability. South Fields (Area 35) jumped 125% in transaction count (9 sales), though the median fell 22% to $660K, reflecting affordable new inventory entering that sub-market.

⚠️ Notable Flag: Kamas Valley Surges

Kamas Valley single-family sales nearly doubled in volume quarter-over-quarter: 22 transactions generating $45.2 million (+70%), with the average price up 47% to $2.05 million. The Oakley & Weber Canyon sub-area (Area 52) is the primary driver—10 sales at $23.1 million, up 607% in volume. This is a market to watch: the Kamas corridor is attracting buyers who want the mountain lifestyle at prices significantly below Park City proper. The rolling 12-month median of $795K, however, is down 22%, suggesting a mixed inventory of new, affordable product pulling the average down even as volume surges. 

Condominiums: Stabilizing After the Reset

The most important condo headline for Q2 2026 is what didn’t happen: the market didn’t fall apart. With 203 transactions at $335.4 million MLS-wide—essentially flat with Q2 2025 (208 transactions, $342.1 million)—the condo market appears to have found a floor after the dramatic Q1 2026 pullback. The Primary Market Area (Summit and Wasatch Counties) saw 189 condo sales at $320 million, down just 6% in units and 5% in volume.

Where Condos Improved

Snyderville Basin: The Volume Surprise

With 58 Q2 condo sales generating $100.1 million—a 33% volume increase on nearly flat unit count—Snyderville Basin was the quarter’s condo outperformer. The driver: Canyons Village (Area 10), where 28 sales generated $68.5 million in volume, up 62%. The average Canyons Village condo sold for $2.45 million in Q2 2026, up 50% from a year ago. This is a real data point, not a statistical artifact—higher-priced inventory is clearing.

Jordanelle: Units Up, Prices Softer

Jordanelle posted 19% more condo transactions (64 sales versus 54), and volume rose 7% to $88.6 million. The Hideout area (Area 29) had a more modest Q2 (15 sales vs. 21 a year ago) but the trailing 12-month total tells a stronger story: 80 sales totaling $127.5 million, up 16% and 19% respectively—and the 12-month median rose 12% to $1.68 million.

Mayflower-Jordanelle (Area 24) posted an eye-catching 108% jump in Q2 units (27 sales vs. 13) but volume rose only 39%—and the median fell 47% to $1.35 million. This is the Deer Mountain pattern from Q1 repeating: new, more affordable inventory is entering the area and pulling the median down even as transaction volume grows. Not a price crisis; a product mix shift.

Where Condos Are Still Struggling

Park City Limits: Supply Depletion Continues

At 47 Q2 condo transactions—down 11% from Q2 2025—Park City Limits continues to feel the post-Founders Place hangover. Deer Crest (Area 04) had just 1 condo sale in Q2 2026 versus 5 in Q2 2025, and the rolling 12-month total of 24 sales is down 33% from the prior year’s 36. The rolling 12-month data does show one consistent bright spot: the Park City Limits median condo price rose 24% year-over-year to $2.3 million, confirming that what’s selling commands strong prices—there’s just less of it.

⚠️ Heber Valley Condos: A Sharp Drop

Heber Valley condo activity cratered in Q2—just 12 sales at $7.8 million, down 64% in units and 62% in volume from Q2 2025. A significant portion of that drop can be traced to Heber North (Area 32), which logged 25 condo sales in Q2 2025 and zero in Q2 2026. The trailing 12-month picture is also sobering: 66 sales vs. 129, down 49%. This area warrants monitoring—it may reflect a genuine buyer-hesitation story at the more affordable end of the Wasatch market, or it may be a supply-timing issue with new developments not yet delivering. Either way, it’s the Q2 anomaly that merits the closest attention

Land: The Quarter’s Breakout Performer

If a single story defines Q2 2026, it’s land. The land market posted 147 transactions generating $181.3 million—a 46% jump in units and a 74% surge in volume versus Q2 2025. The Primary Market Area was even more dramatic: 144 transactions at $180.5 million, up 58% in units and 102% in volume. Every major geographic area participated.

South Jordanelle (Area 27): The Data Point You’ll Read Twice

South Jordanelle land sales jumped from 3 transactions in Q2 2025 to 41 transactions in Q2 2026—a 1,267% increase in units and a 1,613% surge in volume to $58.2 million. The median price of $1.4 million was up 40%. This is an extraordinary single-quarter development, almost certainly reflecting bulk closings in a new residential community or master-planned development. The rolling 12-month picture confirms this is real sustained activity: 69 total transactions at $80.1 million over the year, up 527% in units and 318% in volume.

Promontory Land (Area 22): Golf Lots Boom

Promontory’s land market had a landmark quarter: 21 sales at $33.3 million—up 320% in units and 615% in volume. The median lot price of $1.5 million is up 66%. The rolling 12-month total of 72 Promontory land transactions at $109.1 million confirms what agents have been reporting anecdotally for several quarters: buyers are actively acquiring Promontory lots, especially golf-accessible ones, before prices move further.

Kamas Valley Land: An Emerging Market

Kamas Valley land posted 14 Q2 sales at $15.3 million—a 75% jump in units and 254% surge in volume, with the median price rising 201% to $812,500. The rolling 12-month total of 52 sales at $52.6 million (up 162% in volume) reflects a market in early-stage price discovery as buyers look beyond Park City proper for land acquisition opportunities.

Glenwild Land: A Quiet Surge

Glenwild (Area 18) saw 5 land transactions in Q2 2026—versus zero a year ago—at an average of $1.575 million each. The rolling 12-month total of 13 transactions at $18.7 million is up 81% in volume. Gated community lots in one of Park City’s most exclusive enclaves are finding buyers. 

The 12-Month View: The Market’s True Scorecard

For a resort market as seasonal as Park City, the rolling 12-month data—comparing the year ending June 30, 2026 against the same period a year prior—provides the most reliable read on underlying health.

The story these numbers tell is consistent: the overall market is growing in both volume and value despite fewer condo transactions. The 9% total volume increase, driven by single-family strength and a land boom, suggests that buyer demand remains healthy at the property types where supply exists. The condo decline reflects a specific supply correction following an extraordinary 2024-2025 new-development wave, not a broad retreat from the Park City market. 

Themes Shaping the Second Half of 2026

Land as a Leading Indicator

Historically, land activity leads the broader housing market by 12-24 months: buyers acquire lots today to build or sell tomorrow. The Q2 2026 land surge—particularly in South Jordanelle, Promontory, and Kamas Valley—suggests developers and sophisticated buyers are making bets on where the Park City market will be in 2027 and 2028. That’s a reasonably bullish signal for the medium term.

Condo Supply: The Founders Place Hangover Fades

The dramatic condo declines in Deer Crest, Deer Valley East Village, and Mayflower-Jordanelle all share a common cause: the extraordinary wave of Founders Place and Jordanelle Ridge new-construction closings in 2024-2025 is largely complete. With that pipeline exhausted, trailing 12-month comparisons will look severe for several more quarters before the base normalizes. Agents and analysts should contextualize these numbers accordingly.

The New vs. Existing Premium Persists

Buyers continue to pay a meaningful premium for new construction—a trend established in the Q1 data that shows no signs of reversing. For owners of older properties, the message is clear: condition, presentation, and accurate pricing matter more than ever when competing against turnkey new-build inventory.

Tariff and Rate Uncertainty: Still a Headwind

Trade policy volatility and elevated mortgage rates continued to weigh on buyer confidence in Q2 2026, particularly in the upper-mid market. The luxury segment—where cash transactions are more common—has been more insulated. But the compression in transaction volumes across several Snyderville Basin and Heber Valley sub-markets suggests that rate-sensitive buyers are still on the sidelines.

Insurance: The Unquantified Risk

Fire risk reclassifications in portions of Summit and Wasatch Counties are pushing homeowner insurance premiums to levels that are beginning to affect purchase decisions and property values in exposed areas. This remains one of the harder-to-quantify headwinds for the Park City market and one that will likely grow in importance through the balance of 2026. 

Outlook: Selectively Strong

The greater Park City market enters the second half of 2026 with a differentiated picture. The luxury single-family segment—Glenwild, Promontory, Empire Pass, Deer Crest—continues to attract well-capitalized buyers willing to pay premium prices for the right property. The condo market is stabilizing but will not show recovery in headline numbers until 2025’s extraordinary new-development baseline has rolled off the comparison period. Land is the market’s most compelling near-term momentum story.

The fundamental case for Park City real estate—scarcity, amenities, lifestyle, and a proven appreciation track record—remains intact. The buyers are still there. They are, as one veteran agent put it, “just more deliberate about which door they walk through.” 

About the Wasatch Back Market:

Real estate in the Wasatch Back consists of highly segmented markets with nuances that vary significantly from one neighborhood to another and one house to another. Comparisons are hard to read on paper due to the unique features of individual properties, such as amenities, condition, style, location, age, view, and inventory. Buyers and Sellers are advised to contact a local Park City Board of REALTORS® Professional for the most accurate, detailed, and current information.

Note: Data is preliminary and subject to revision as late-reporting transactions are recorded. Only areas meeting minimum transaction thresholds are included in sub-area statistics.

© 2026 Quarterly Market Summary – Second Quarter 2026 – Park City Board of REALTORS®  All rights reserved.