Park City home sales rise sharply as condo market cools in Q1

Park City’s housing market opened 2026 with a clear split: buyers kept pushing into single-family homes while condominiums lost momentum, a pattern that says as much about affordability as it does about who is still willing to write big checks in Summit County. The Park City Board of REALTORS® said the greater Park City market logged 529 transactions in the first quarter, generating $1.195 billion in sales volume, down from 562 deals and $1.321 billion a year earlier. Single-family homes carried the quarter, with 272 sales and $776.7 million in volume, up 14% in units and 9% in dollar volume.

Condos moved the other way. The segment finished the quarter with 155 sales and $282.5 million in volume, down 31% in units and 41% in volume from Q1 2025. The drop was especially sharp inside Park City Limits, where condo sales were cut in half, from 80 to 40, and volume fell 54%. The report singled out Deer Crest, Area 04, as a major driver of that decline. For buyers looking for a lower-cost foothold in town, that is the part of the market that has softened most.

The numbers point to a market that is becoming more selective, not broadly weaker. The rolling 12-month totals through March 31 showed total market volume up 9% year over year, while single-family volume climbed 21%. That helps explain why the quarter’s condo slowdown looks less like a collapse and more like a pause after an unusually strong 2025, when Park City ended the year with $5.75 billion in combined single-family and condominium sales, the second-highest total in recorded history.

Prices also held firm or rose in most areas, even with the condo drag. That combination, firmer pricing in houses and softer turnover in condos, reinforces the two-speed feel many local agents have been describing. Buyers with the cash and appetite for move-in-ready or newer product kept showing up, while the segment that often serves as an entry point for full-time residents lost steam. The April report from the Park City Board of REALTORS® and Park City Multiple Listing Service, with Gretchen Hudgens and Grady Kohler listed on the release, suggests Park City remains active, but less accessible in the places that once gave more buyers a way in.