Park City Q3 2026 Market Report: Fewer Sales, Higher Prices Per Foot

The Park City area closed 490 residential sales in the third quarter of 2026, of which 483 reported a sale price, totaling $1.277 billion at a median of $1,575,000. Transactions fell 14 percent from the third quarter of 2025, while sales volume slipped only 3.6 percent and the median price per square foot rose about 5.5 percent, from $578 to $610. Fewer homes changed hands, and the ones that did sold for more per foot.

A note on the counts: seven of this quarter's closings reported no sale price, as did two a year ago. Utah is a non-disclosure state, so price reporting is a courtesy rather than a requirement, and a handful of sales each quarter stay private. Every price figure below covers the 483 sales that reported one, and the 563 that did a year ago.

Park City third quarter, 2026 vs. 2025

Measure	Q3 2025	Q3 2026	Change
Sales with a reported price	563	483	-14.2%
Sales volume	$1.324B	$1.277B	-3.6%
Median price	$1,550,000	$1,575,000	+1.6%
Average price	$2,351,886	$2,643,709	+12.4%
Median price per square foot	$578	$610	+5.5%
Median days on market	40	37	3 days faster
Median sale-to-list	97.3%	97.0%	about flat
Cash purchases	51%	51%	unchanged

Source: Park City MLS, closed residential sales, third quarter of each year.

Does a high share of homes selling below asking mean the market is weak?

No, and this is the number most often misread. Eighty percent of third-quarter sales closed below their original asking price. That sounds alarming until you look at last year, when the figure was 77 percent.

Selling below the original list price is simply how this market works, in a strong year and a soft one. Sellers here open high, test the market and adjust. The more useful measure is the gap to the most recent asking price, which was 97.0 percent this quarter against 97.3 percent a year ago. Essentially unchanged.

Single-family and condominium prices

Q3 2026	Single-family	Condo / townhome
Sales	332	151
Sales volume	$1.04 billion	$239 million
Median price	$2,012,500	$1,150,000
Median price per square foot	$577	$707
Median days on market	38	35

The decline is almost entirely a condominium story. Condo and townhome sales fell from 221 to 151, down 32 percent, while single-family sales were close to flat at 342 to 332. Condominium pricing held, with the median at $1,150,000 against $1,139,000 a year ago, and price per foot up from $666 to $707.

Which areas gained and which gave ground?

Medians by area move with the mix of what sold, so price per square foot is the fairer comparison.

Area	Sales 2025 → 2026	Median $/sq ft 2025 → 2026	Change
Park City Limits	119 → 71	$1,059 → $1,013	-4.3%
Snyderville Basin	168 → 177	$616 → $764	+24.0%
Jordanelle	97 → 64	$612 → $665	+8.7%
Heber Valley	130 → 118	$339 → $344	+1.5%
Kamas Valley	35 → 40	$417 → $362	-13.2%

Snyderville Basin was the quarter's story: the only area to gain transactions, with price per foot up 24 percent and volume up from $408 million to $583 million. Park City Limits lost 40 percent of its transaction count, the steepest drop in the market, with pricing down about 4 percent. Fewer buyers inside city limits, paying nearly the same per foot.

Where do buyers have leverage?

Not at the top. Sorting by price band shows the slowest segment is the entry level.

Price band	Sales 2025 → 2026	Median days on market 2025 → 2026
Under $1M	173 → 146	54 → 56
$1M–$2M	170 → 142	42 → 34
$2M–$3M	87 → 66	28 → 26
$3M–$5M	64 → 69	24 → 38
$5M–$10M	59 → 46	29 → 22
$10M+	10 → 14	110 → 48

Two moves stand out. Homes between $3 million and $5 million are the only band that gained transactions and slowed down, from 24 days to 38, which is where a seller is most likely to misprice today. And the $10 million-plus market sped up sharply, from a 110-day median to 48, on more sales, though it also closed at the deepest discount of any band, 95.1 percent of final asking price against 96.8 percent a year ago. The trophy market got more liquid and more negotiable at the same time.

Homes between $5 million and $10 million sold fastest of anything in the quarter, at 22 days.

What happened at Promontory?

Promontory doubled. Sales went from 27 in the third quarter of 2025 to 54 this year, and volume from $138 million to roughly $300 million, which is 23.5 percent of all Park City area sales volume from one community. The median Promontory sale was $4,775,000 and took 26 days.

The cause is identifiable: the club raised its full membership deposit to $500,000 effective in September, and buyers closed ahead of it. That pulled demand forward, so fourth-quarter Promontory numbers should be read against this quarter rather than extrapolated from it.

Which neighborhoods are slow right now?

• Red Ledges: 15 sales, median 133 days on market.
• Canyons Village: 24 sales, median 94 days.
• Kamas Valley: days on market more than doubled year over year, from 23 to 49.

Against that, Empire Pass closed its five reported sales in a median of 5 days at a $13 million median, Park Meadows sold in a median of 11 days, Upper Deer Valley in 19, and Tuhaye and Glenwild in about 20 to 22.

The largest sales of the quarter

Property	Area	Sold price	Days on market
Bald Eagle Club	Upper Deer Valley	$37,000,000	897
Colony at White Pine Canyon	Canyons Village	$25,850,000	52
Montage Deer Valley	Empire Pass	$17,625,000	85
Moonshadow	Empire Pass	$16,291,044	0
Tuhaye	Tuhaye	$16,000,000	45

The Bald Eagle Club sale is a Park City record. It also took 897 days to find its buyer, which is the part worth remembering when pricing a one-of-a-kind property.

Sixty sales closed above $5 million, together worth $539 million, or 42 percent of all volume from 12 percent of the sales. A year ago that tier produced 69 sales worth $500 million: fewer sales this year, more money.

How do rates fit in?

Rates moved against buyers during the quarter and kept moving after it. Freddie Mac's 30-year fixed average reached 7.28 percent on October 1, up from 6.34 percent a year earlier, and the Federal Reserve raised its policy rate by a quarter point on September 16. With half of Park City buyers paying cash in both years, rates press hardest on the under-$2 million market, which is exactly where the transaction decline was concentrated.

What this means if you are selling

Price to the current market on day one. The open-high-and-adjust approach is no more effective than it was last year, and in the $3 million to $5 million band it is actively costly, with days on market up from 24 to 38. The median home still sold at 97 percent of its most recent asking price, so accurate pricing works.

What this means if you are buying

There are fewer buyers to compete with than a year ago, particularly inside Park City limits, where transactions fell 40 percent. Negotiating room is best under $1 million, in the $3 million to $5 million band, above $10 million, and in neighborhoods with real time on market such as Red Ledges and Canyons Village. Between $5 million and $10 million you are in the fastest segment of the market, and half your competition is paying cash.

Frequently asked questions

What is the median home price in Park City right now?

In the third quarter of 2026 the median single-family sale in the Park City area was $2,012,500 and the median condominium or townhome was $1,150,000, across 483 sales with a reported price totaling $1.277 billion.

Are Park City home prices falling in 2026?

No. The median price per square foot rose about 5.5 percent year over year, from $578 to $610. What fell was transaction count, down 14 percent from the third quarter of 2025.

How long does it take to sell a home in Park City?

The median was 37 days in the third quarter of 2026, three days faster than a year earlier. Homes between $5 million and $10 million sold fastest at 22 days, while homes under $1 million took 56 days.

What percentage of Park City homes sell below asking price?

Eighty percent of third-quarter 2026 sales closed below their original asking price, compared with 77 percent a year earlier. The median sale closed at 97 percent of its most recent list price.

Which Park City neighborhood had the most sales in 2026?

Promontory led the third quarter with 54 sales and roughly $300 million in volume, double its 27 sales a year earlier, as buyers closed ahead of a club membership deposit increase.

Related: The Diamond Report · What $1M to $10M+ Buys in Park City

Michael Diamond is an Associate Broker and Team Lead with Park City Brokers | Coldwell Banker Global Luxury, Utah license 9492175-AB00. Figures are from the sources cited as of September 2026 and should be confirmed for any specific property.