Solid Sales | Steady Price Increases | Continued Inventory Gains
The stats for the second quarter of 2025 show a welcome and familiar trend for our local real estate market—the return of the busy summertime season! Across our market area of Summit and Wasatch counties, unit sales for both single-family homes and condominiums were up year over year, accompanied by increases in total sales volume. The median price for single-family homes rose nearly 7%, while condominiums experienced a slight dip of 2%.
Another significant development is that inventory has reached its highest level since the start of the pandemic, surpassing 1,000 units for the first time in nearly five years. We still have a little way to go to reach pre-pandemic levels, but the additional inventory is welcome after many years of shortage.
From a national perspective, the local Greater Park City market is in excellent shape. Median price appreciation for homes continues to outpace the national average. Looking at year-over-year stats ending in June, our market rose 8.7% compared to a 1.3% increase nationwide. In short, those seeking solid, reliable returns on their real estate investments continue to do very well here in Park City. Our market has offered an average annual appreciation rate of 7.2% since 2001—nearly a quarter-century of outstanding returns.
Read on to see how your areas of interest fared during the second quarter of 2025, and don’t hesitate to reach out if you have any questions about buying or selling here in Park City and the Wasatch Back!
