What $1M, $2M, $3M, $5M, and $10M buys in Park City right now — May 2026.

The most common question I get from out-of-state buyers — and often from people who have been following the Park City market for years but haven't pulled the trigger — is some version of this:

"What does my money actually get me here?"

It's a fair question. Park City is not a monolithic market. It's a collection of distinct neighborhoods and communities, each with its own pricing dynamics, lifestyle profile, rental rules, HOA structure, and proximity to the mountain. The difference between what $3M buys in Jordanelle and what $3M buys in Empire Pass is significant — not just in square footage, but in the kind of experience that property delivers.

Here is a straightforward breakdown of what each price tier looks like in May 2026, based on what's actually closing and what's actively available in the market.

$1M — $1.5M: The accessible entry point that's smarter than it looks

At this price point in Park City, you are not buying a compromise. You're buying a lifestyle upgrade that would cost twice the price in Aspen, Vail, or Jackson Hole.

What you get:

• Pinebrook: Whole-ownership townhomes averaging around $800K–$1.1M. Forested, alpine feel. 10 minutes from Park City, 25 minutes from Salt Lake City. Direct trail access to Park City's Mid Mountain system. Two-car garage, 2–3 bedrooms, established neighborhood.
• Jeremy Ranch: Single-family homes, some at the lower end of this range. Established community, golf course access, excellent schools, family neighborhood feel.
• Heber City / Hideout: This is where the value story is most compelling in 2026. Whole-ownership townhomes and condos at communities like Rustler at Hideout and Klaim — Jordanelle Reservoir views, Deer Valley visible on the horizon, 2-car garages, modern finishes. Many STR-eligible. With Deer Valley East Village under construction 10 minutes away, this price tier here is early-mover territory.
• Park City condos: At the entry of this range, older Park City Mountain area condos in solid condition. Not ski-in, but walkable to lifts.

Buyer profile at this tier: Remote workers relocating from expensive coastal cities. First-time mountain home buyers. Investors seeking STR-eligible whole-ownership properties with strong rental yield potential.

$2M — $3M: The sweet spot for second-home buyers

This is the most active price band in the Park City single-family market. Single-family home transactions in this range are up year-over-year, and the inventory at this tier — while thinning — still offers genuine choices.

What you get:

• Old Town / The Aerie: Single-family homes above Historic Main Street. The Aerie specifically offers panoramic views of all three ski resorts, custom-built estates from 2,000–10,000+ sq ft, no master HOA (no STR — ideal second-home profile), and 5-minute access to Park City Mountain and Deer Valley. At $2M–$3M you can find 3–4 bedroom homes with the views.
• Jeremy Ranch: At the upper end of this range, larger single-family homes, some with golf course access or mountain views. Quiet, established, no traffic.
• Park Meadows: Well-established neighborhood with mountain views, close to trails and the town center. Family-oriented.
• Jordanelle corridor: Newer construction, whole-ownership townhomes and smaller single-family, Jordanelle views, Deer Valley East Village proximity. Best long-term appreciation thesis at this price point.

Buyer profile: California equity buyers who have sold a Bay Area or LA home and are deploying the proceeds. Remote-work executives looking for a lifestyle upgrade. Texas buyers seeking a family mountain retreat.

$3M — $5M: Resort lifestyle, serious investment

At $3M–$5M, Park City opens up into genuine luxury territory — ski-access condos in premium Deer Valley buildings, single-family estates with resort views, and entry-level Promontory.

What you get:

• Promontory: The starting point for this iconic gated community. At $3M–$5M, you're looking at townhomes and smaller single-family homes within the community — golf course access, beach club membership, equestrian center, world-class amenities on 7,000+ private acres. Promontory had 22 sales in Q1 2026, median price $4.8M, volume up 56% year-over-year. The market here is moving.
• Lower and Upper Deer Valley condos: Ski-access buildings with ski-in/ski-out or near-ski access. Fully furnished, managed properties. At $3M–$5M you're in the range for serious Deer Valley condo product.
• Empire Pass entry: Some Empire Pass buildings start in this range. True ski-in access at Deer Valley — one of the most sought-after addresses in the market.
• Larger Old Town and Aerie single-family: At $4M–$5M, you're looking at 4,000–6,000 sq ft custom homes in The Aerie with panoramic resort views.

Buyer profile: Senior executives, private equity partners, business owners at or near liquidity events. Texas wealth buyers. Sophisticated investors who understand the Promontory community thesis.

$5M — $10M: Deer Valley's core luxury market

The Deer Valley ecosystem — Upper Deer Valley, Lower Deer Valley, Empire Pass, and Deer Crest — is the defining market at this price tier. Q1 2026 closings across this submarket totaled $165.4 million across 25 transactions, with a median sale price of $5,835,179.

Notable Q1 2026 sales in this tier:

• $14,450,000 — Moonshadow closing, Empire Pass
• $13,750,000 — Stein Eriksen Residences
• Multiple Deer Crest Estates closings above $12M

What you get:

• Empire Pass: Ski-in/ski-out access at the top of Deer Valley's terrain. The most sought-after addresses in the entire market. Ironwood, Moonshadow, Red Cloud, and Moon Shadow offer true ski access at this level.
• Deer Crest: Gated community adjacent to Deer Valley's upper mountain. Q1 median: $11,125,000. Properties here include the ultra-luxury end of the Stein Eriksen and St. Regis branded buildings.
• Upper and Lower Deer Valley estates: Larger single-family ski homes with direct or near-ski access, significant square footage, panoramic views, private amenities.
• Promontory at its finest: $5M–$8M gets you the custom estate product in the best positions within the community — golf course frontage, full views, 6,000+ sq ft.

Buyer profile: Multi-generational family buyers. Entertainment industry principals. Ultra-high-net-worth individuals from coastal markets and international buyers.

$10M+: The Colony and the ultra-luxury tier

At $10M and above, Park City's market is anchored by The Colony at White Pine Canyon — 4,600 acres of private, ski-in access at the top of Canyons Village, with minimum 5-acre homesites and some of the most dramatic terrain in North America.

The Colony produced two of the three largest Q1 2026 closings in the entire Park City market: $25,300,000 in March and $23,500,000 in January. Combined Q1 Colony volume: $58.3 million across three transactions. The rolling 12-month median is now in the $17M range.

Also at this tier: the most extraordinary Deer Crest and Empire Pass properties, large custom estates in Promontory's most premium positions, and the incoming Four Seasons and Waldorf Astoria residences at Deer Valley East Village — which are being marketed at price points that will redefine the ceiling for the entire market.

The bottom line

Park City is not a one-size-fits-all market. Every price tier has a story, every neighborhood has a thesis, and the right property depends on what you're actually trying to accomplish — lifestyle, investment return, second-home utility, or long-term estate building.

If you'd like to understand exactly what your budget gets you in today's market — with a specific list of available properties and my honest assessment of which ones represent real value — I'm happy to put that together for you.

Michael Diamond | Park City Brokers | Coldwell Banker | theparkcitybrokers.com