What to Expect in Park City Luxury Real Estate for 2025

2025 is officially here and this week we are taking out our crystal balls to peer into the future of what’s in store for luxury real estate in Park City. While no one can predict with absolute certainty what the future will hold, there are numerous trends we saw in 2024 that could provide clues as to what the next 12 months might bring.

Here’s what we think the luxury real estate market in Park City will look like in 2025.

As always, for specific advice unique to your situation, please get in touch with an expert.

Inventory Will Be Scarce

Simply looking at the year-over-year inventory comparison between 2023 and 2024, we can see that the amount of active inventory is down. In Park City limits, inventory is down 32% over the previous year, while the Greater Park City area is down about 16%. We predict 2025 will be another year with limited supply in the area.

Median Prices Will Continue to Rise

Another trend we saw in 2024 was an increase to the median home price. Since inventory, and therefore sales, were down, we can deduce that homes in Park City are rising in value. In 2025, we have every reason to believe prices will continue to rise.

There are still deals to be had in Park City and Deer Valley. Here are a few more posts you might find interesting:

Deer Valley East Village Could Change the Local Market

Deer Valley’s newest development is generating a lot of buzz. With increased demand for these properties, and only a limited number of homes available, it could result in a greater increase in home values in other areas of Deer Valley and Park City. When it comes to investing in a luxury property in Park City or Deer Valley, our recommendation is always to buy sooner rather than later to reap the benefits of your investment.

Find out how luxurious Deer Valley is with this post right here.

The Cost of Construction Will Rise

A persistent trend we saw in 2024 was a steady rise in the cost of construction. With more expensive building materials and labor costs, prices for new construction homes in Park City also increase. This will likely continue into 2025, and could result in more buyers looking to the existing home market, rather than buying new construction properties.

Debating whether to purchase a new construction home or an existing property? This blog will help you understand the pros and cons.

Interest Rates Will Remain Status Quo

Most financial experts agree that we won’t see a significant decrease in interest rates this year. Currently, the average interest rate for 30-year fixed mortgage is around 7%. The National Association of Home Builders estimate interest rates averaging around 6.36% for a 30-year fixed mortgage in 2025 and just below 6% in 2026. Overall, quite moderate changes.

Do you have more questions about buying a home in Park City? Here are a few more posts you might like:

Buyers Will Be More Specific

There are still a lot of active buyers in the market with interest in purchasing luxury real estate in Park City. However, on the ground, one trend we are noticing is that these buyers are gravitating towards turn-key homes that don’t require considerable upgrades or renovations.

Should you upgrade your home before selling it in Park City? Read our blog right here for the answer.

Activity Will Move Outward

There is a finite amount of land in Park City available for new developments, and we’re starting to reach the limit. As such, most new developments will be outside of town. In 2025 we should see increased activity in the areas surrounding Park City and Deer Valley. Increased demand could also result in price increases in these areas.

Greater Park City is full of incredible neighborhoods you might not even know about yet! Read these posts next to see what we mean:

Park City and Deer Valley Will Continue to Be Sought After

As a recreation destination, you can’t beat the quality and convenience of Park City. In addition to our world-class amenities, we are still one of the easiest ski resort towns to travel to. With Salt Lake City International Airport just 30 minutes away, getting in and out of town is stress-free and convenient.

Find out why Park City is the best home-base for recreating in Utah with this post here.

Park City Will Retain its Value

Compared to other ski resort towns like Aspen, Vail, and Jackson Hole, Park City remains an excellent value and will remain so into 2025. Even other ski towns that were once considered less expensive than Park City are starting to see prices rise, making Park City one of the best options for discerning buyers looking for quality, high-value properties and recreation.

Compare Park City and Deer Valley to other resort towns with these posts next:

Summer Recreation Will Support a Healthy Year-Round Rental Market

Last year we saw golf club memberships peak, decline, and then begin to rise again. They are still trending upwards and we expect to see this continue into the summer. As a four-season playground, Park City has an active tourist industry year-round. For luxury buyers planning on using their properties as rentals, this is great news. Park City is a sought-after vacation destination meaning you should see steady occupancy and higher room rates in 2025.

What is the best way to stay ahead of the market in 2025? Subscribe to our newsletter right here and be the first to know about market news, new listings, exciting developments, and more!

It’s a Long Year Ahead

There’s no way to predict for sure what will happen this year, but the fact remains that luxury real estate in Park City will continue to be sought-after. Whether you are planning on selling your home or you’re looking to buy a property in Park City, we’re here to help. CFH has been helping buyers, sellers, and investors reach their real estate goals in Park City and Deer Valley for over 30 years. We have seen the ups and downs and can expertly navigate any type of market with success.

Get in touch with us directly by calling 435-647-8035 or emailing info@CFHparkcity.com to speak with our team.

What to Expect in Luxury Real Estate for 2025