The Park City real estate market has concluded 2025 with remarkable resilience, achieving the second-highest sales volume in its history at an impressive $5.75 billion, according to the latest report from the Park City Board of Realtors. This figure, which combines sales from both single-family homes and condominiums, falls just short of the peak reached during the COVID-19 pandemic but showcases a strong recovery and stabilization following the market fluctuations experienced in recent years. The fourth-quarter report provided by the Park City Board of Realtors indicates that the year was characterized by a robust demand and a significant increase in property prices, as the market continued its trajectory toward equilibrium reminiscent of pre-pandemic conditions. A year-over-year analysis through December 31, 2025, reveals a solid performance in single-family home sales, which totaled $3.52 billion, reflecting a 26% increase from the previous year. This growth was not solely due to an increase in the number of homes sold, which rose only by 6%, but rather the result of significant price escalations, with average sale prices climbing by 17% to 19%. The condominium sector mirrored this trend, with a sales volume surge of 20%, bringing the total to $1.66 billion. Interestingly, this increase occurred despite an 8% drop in the number of units sold, with the average sale price for condos soaring by 30% to reach approximately $1.8 million. This phenomenon underscores a growing preference among buyers for higher-end properties, even as the overall inventory has tightened. A key aspect of the report highlights the distinct market segmentation between new constructions and older homes. Buyers demonstrated a pronounced willingness to pay a premium for newly built or recently renovated homes, seeking properties that require minimal immediate investment. Furthermore, there has been a notable interest in vacant land sales, particularly in gated communities with golf course access. The report noted that lots in such desirable locations were fetching prices significantly higher—between $800,000 to $1 million more—than comparable lots without such amenities. In Park City proper, the market experienced exceptional growth, with 143 sales recorded, representing a 29% increase compared to 2024. The total sales volume in this area soared by 39% to reach $712 million, with the median sale price of homes hitting a staggering $3.825 million. Real estate agents observed a demographic shift, indicating a trend toward younger buyers, many of whom are relocating from out of state for permanent residency rather than investing in second homes. One notable exception in the market was Old Town, where only 53 homes sold in the past year. The median price in this neighborhood remained stable at $3.9 million, underscoring the limited inventory available in this sought-after area. The report also highlighted a particularly successful year for luxury properties, specifically on White Pine Canyon Road, where ten mega homes sold for an average price exceeding $17 million. This segment of the market has consistently attracted affluent buyers looking for premium real estate options. The demand for golf-access properties has been another significant driver in the market, especially in the Promontory area. A staggering 70% of prospective buyers expressed an interest in homes that offered direct access to golf courses. Many buyers appeared willing to downsize their target homes to secure proximity to golfing facilities, leading to an average home sold in Promontory being 5-6% smaller than those sold in the previous year. In the Jordanelle area, construction activity remained frenetic, contributing to an increase in sales units (110 homes sold, up 25%) and sales volume ($508 million, up 45%). For the first time, the median sale price in this region surpassed the $4 million mark, with the Tuhaye community standing out by recording 29 sales at a median price just below $6 million. The condominium market in Wasatch and Summit counties saw a total of 859 units sold in 2025, a decrease of 9% from the prior year. However, this downturn in unit sales did not hinder overall performance, as the dramatic increase in average prices offset this decline, pushing total condo sales volume up by 20% to $1.6 billion. The new Founders Place development in Deer Crest significantly bolstered the numbers, with 49 units sold at an average price of $5.5 million. In conclusion, the Park City real estate market has demonstrated remarkable resilience and adaptability in 2025, setting the stage for continued growth and evolution in the coming years. As buyers increasingly prioritize premium properties and desirable amenities, industry experts anticipate that these trends will shape the future landscape of the Park City real estate market, making it a focal point for both local and out-of-state investors. For those interested in a more detailed analysis, the full report is available for download.