October 2026 – The third quarter of 2026 drew a sharper line between Park City’s property types than any quarter so far this year. Single-family buyers kept showing up for the right home, even as fewer of them closed. Land extended a run of outsized gains that now spans a full year. And condominiums pulled back sharply and broadly. Combined, the market generated $1.591 billion in Q3 2026 sales, up 2% from Q3 2025, on 7% fewer transactions. That combination — modestly higher dollars on a smaller number of deals — is this quarter’s headline: price levels are holding even as the pool of transactions narrows.
The Big Picture: Fewer Deals, Steady Dollars
When all three property types are combined, Q3 2026 produced slightly higher volume than Q3 2025 despite a meaningful drop in units — a pattern driven almost entirely by condominiums’ sharp pullback offsetting land’s continued surge and single-family’s resilient pricing. The rolling 12-month totals — the most reliable indicator of sustained direction for a seasonal resort market — show the overall market essentially flat, up 3% to $5.776 billion on a 1% dip in units.
| Property Type | Q3-2025 Units | Q3-2025 Volume | Q3-2026 Units | Q3-2026 Volume | Units Chg | Vol Chg |
| Single Family | 402 | $1.033B | 399 | $1.139B | -1% | +10% |
| Condominiums | 232 | $376.2M | 167 | $249.0M | -28% | -34% |
| Land | 116 | $153.3M | 133 | $202.7M | +15% | +32% |
| TOTAL ALL TYPES | 750 | $1.563B | 699 | $1.591B | -7% | +2% |
Rolling 12-month context: Across all property types for the year ending September 30, 2026, the market generated $5.776 billion from 2,656 transactions — compared to $5.612 billion from 2,696 transactions a year prior. That’s a 3% volume gain on a 1% dip in units, meaning average prices are rising. The combined residential market (single family plus condos) totaled $5.076 billion, essentially flat year-over-year, as single-family strength offset the condo pullback.
Single-Family Homes: Values Rise as Transactions Cool
With 399 single-family transactions generating $1.139 billion in Q3 2026 — down 1% in units but up 10% in volume from Q3 2025 — the single-family market extended a pattern seen throughout 2026: fewer sales, higher average prices. The rolling 12-month picture confirms the trend is durable: 1,347 sales totaling $3.730 billion, up 5% in units and 9% in volume. Within the Primary Service Area (Summit & Wasatch Counties), 332 homes sold for $1.038 billion — down 2% in units but up 11% in volume — with the area median rising to $2.01 million from $1.90 million a year ago.
| Area | Units Q3’25 | Vol Q3’25 | Units Q3’26 | Vol Q3’26 | Units Chg | Med Q3’26 |
| SINGLE FAMILY HOMES | ||||||
| Park City (Ar 1-9) | 49 | $246.3M | 29 | $185.3M | -41% | $4.24M |
| Snyderville Basin (Ar 10-23) | 107 | $331.1M | 126 | $510.4M | +18% | $3.05M |
| Jordanelle (Ar 24-29) | 32 | $151.7M | 21 | $99.0M | -34% | $4.40M |
| Heber Valley (Ar 30-47) | 108 | $163.8M | 106 | $180.5M | -2% | $1.05M |
| Kamas Valley (Ar 50-53) | 32 | $48.4M | 37 | $48.8M | +16% | $925K |
| PRIMARY MARKET TOTAL | 339 | $937.2M | 332 | $1.038B | -2% | $2.01M |
Primary Market Total includes areas outside the five named major areas (e.g. Area 54) that are within Summit or Wasatch County but not part of a named major area.
STANDOUT STORIES
Park City Limits: A Quiet Quarter
Park City proper cooled sharply in Q3, with sales falling from 49 to 29 (-41%) and volume down 25% to $185.3 million. Old Town led the pullback — from 18 sales to just 4 (-78%), volume down 54% to $12.9 million. Thaynes Canyon was the counterpoint: sales nearly tripled (3 to 7, +133%), with volume up 158% to $35.4 million and a $6.39 million median. Context matters area by area — small sample sizes can swing dramatically on just a few transactions.
Snyderville Basin: Promontory Carries the Quarter
Snyderville Basin posted 126 single-family sales generating $510.4 million — up 18% in units and 54% in volume, the strongest dollar gain of any major area. Promontory (Area 22) was the driver: sales doubled from 27 to 54 (+100%), with volume up 118% to $300.3 million and a median of $4.775 million. Sun Peak/Bear Hollow also stood out, more than doubling in volume (+211%) on a jump from 3 to 6 sales. Jeremy Ranch moved the other direction, down 67% in units and 65% in volume.
Jordanelle: A Broad Pullback, With a Caveat
Jordanelle single-family sales fell across nearly every sub-area — 32 to 21 transactions (-34%), volume down 35% to $99.0 million. Mayflower-Jordanelle, Tuhaye, South Jordanelle, and Hideout were all down double digits in both units and volume this quarter. But the rolling 12-month figures tell a more constructive story: Mayflower-Jordanelle logged 26 sales over the trailing year, up 86% from 14 a year prior, as the newer neighborhood continues finding its footing even as any single quarter can look soft.
Heber Valley: Red Ledges Up, South Fields Reverses
Heber Valley held essentially flat in units (108 to 106, -2%) but volume rose 10% to $180.5 million. Red Ledges drove the gain — 13 to 15 sales (+15%), with volume up 87% to $73.6 million on a $4.0 million median. South Fields moved the opposite direction from last quarter’s surge, falling from 5 sales to 1 (-86% volume) — a reminder that small-area quarterly swings run in both directions.
⚠ Notable Flag: Kamas Valley’s One Big Sale
Kamas Valley single-family volume held essentially flat (+1%) despite a 16% rise in units, as Oakley & Weber Canyon absorbed more transactions at lower price points. The outlier: Peoa and Browns Canyon, which had zero single-family sales in Q3 2025 and recorded one $8.3 million sale in Q3 2026. One transaction can move a small area’s average dramatically — context matters.
Condominiums: The Pullback Broadens
The second quarter’s story was that the condo market didn’t fall apart. The third quarter’s story is harder: it did pull back, and broadly. With 167 transactions generating $249.0 million MLS-wide — down 28% in units and 34% in volume from Q3 2025 — the condo decline touched nearly every major area at once, not just the post-new-construction pockets that had been absorbing it earlier in the year. The Primary Market Area (Summit and Wasatch Counties) saw 151 condo sales at $239.2 million, down 32% in units and 36% in volume, with the area median essentially flat at $1.15 million.
| Area | Units Q3’25 | Vol Q3’25 | Units Q3’26 | Vol Q3’26 | Units Chg | Med Q3’26 |
| CONDOMINIUMS | ||||||
| Park City (Ar 1-9) | 70 | $190.0M | 42 | $99.1M | -40% | $1.70M |
| Snyderville Basin (Ar 10-23) | 61 | $77.0M | 51 | $72.6M | -16% | $1.05M |
| Jordanelle (Ar 24-29) | 65 | $89.0M | 43 | $58.6M | -34% | $1.23M |
| Heber Valley (Ar 30-47) | 22 | $13.1M | 12 | $7.3M | -45% | $472K |
| Kamas Valley (Ar 50-53) | 3 | $2.0M | 3 | $1.5M | 0% | $490K |
| PRIMARY MARKET TOTAL | 221 | $371.0M | 151 | $239.2M | -32% | $1.15M |
Where the Pullback Hit Hardest
Park City Limits: Broad-Based Decline
At 42 Q3 condo transactions — down 40% from Q3 2025 — Park City Limits saw declines across nearly every sub-area. Old Town fell from 24 to 15 sales (-38%, volume -29%); Lower Deer Valley Resort from 19 to 12 (-37%, volume -66%); Upper Deer Valley Resort from 6 to 3 (-50%, volume -59%); Deer Crest had just 1 sale in Q3 2025 and none in Q3 2026. This wasn’t a single-neighborhood story — it was market-wide.
Snyderville Basin: One Bright Spot in a Soft Quarter
Snyderville Basin condo sales slipped 16% to 51 transactions, with volume down a more modest 6% to $72.6 million. Jeremy Ranch was the exception — a jump from 1 sale to 8 (volume up from $1.7 million to $11.7 million) — enough to offset softer results in Canyons Village (28 to 22 sales) and Pinebrook (8 to 4).
Jordanelle: Mix Shift as Much as Slowdown
Jordanelle condo sales fell from 65 to 43 (-34%), with Deer Mountain down sharply (21 to 7 sales, -69% in volume) and Hideout down nearly as much (23 to 12, -47% in volume). Mayflower-Jordanelle was a partial exception: unit sales actually rose from 13 to 18 (+38%), but volume was flat (0%) — a sign that more, lower-priced units are moving even as dollar volume holds steady.
⚠ Notable Flag: Heber Valley Condos Nearly Stall Out
Heber Valley’s condo market all but stopped in Q3: just 12 sales at $7.3 million, down 45% in units and 44% in volume. Two of its larger sub-markets went to zero — Heber North had 5 condo sales in Q3 2025 and none in Q3 2026; Red Ledges had 1 and also recorded none. This area warrants watching over the next quarter or two to see whether it reflects a genuine pause in buyer demand or simply a timing gap between closings.
Land: Still the Market’s Strongest Story
If single-family is bifurcated and condos are correcting, land is unambiguous: it is the only property type that grew in both units and volume this quarter, and the only one still accelerating on a rolling 12-month basis. The market posted 133 transactions generating $202.7 million MLS-wide — up 15% in units and 32% in volume from Q3 2025. The Primary Market Area was even stronger: 130 transactions at $202.2 million, up 26% in units and 61% in volume, with every major area except Park City Limits (essentially flat on a tiny base) posting gains.
| Area | Units Q3’25 | Vol Q3’25 | Units Q3’26 | Vol Q3’26 | Units Chg | Med Q3’26 |
| LAND | ||||||
| Park City (Ar 1-9) | 1 | $2.4M | 1 | $2.2M | 0% | $2.17M |
| Snyderville Basin (Ar 10-23) | 24 | $32.5M | 46 | $83.8M | +92% | $1.84M |
| Jordanelle (Ar 24-29) | 36 | $58.8M | 36 | $76.1M | 0% | $1.56M |
| Heber Valley (Ar 30-47) | 15 | $15.3M | 24 | $22.1M | +60% | $735K |
| Kamas Valley (Ar 50-53) | 19 | $14.1M | 18 | $17.2M | -5% | $332K |
| PRIMARY MARKET TOTAL | 103 | $125.8M | 130 | $202.2M | +26% | $1.43M |
Promontory and Glenwild: Snyderville Basin Leads
Snyderville Basin land sales nearly doubled — 24 to 46 transactions (+92%), volume up 158% to $83.8 million. Promontory land alone accounted for most of the gain: 18 sales in Q3 2025 to 40 in Q3 2026 (+122%), volume up 162% to $72.8 million on a $1.9 million median. Glenwild land also jumped, from 2 sales to 5 (volume up nearly sevenfold to $9.5 million) as gated-community lots continue finding buyers.
South Jordanelle: The Trailing-12-Month Spike Is Still Working Through
South Jordanelle land cooled quarter-over-quarter — 10 sales to 8 (-20% units, +13% volume) — after an extraordinary Q2 2026 that saw 41 transactions in a single quarter. But the rolling 12-month figures show that spike is still very much in the system: 20 sales a year ago to 67 over the trailing year (+235%), volume up 241% to $81.3 million. A single quarter of bulk activity can take several quarters to fully cycle through the trailing-12-month view.
Heber and Kamas Valleys: Broad Gains
Heber Valley land rose 60% in units (15 to 24) and 45% in volume ($15.3 million to $22.1 million), led by Red Ledges (+63% volume) and Midway (+171% volume). In Kamas Valley, Oakley & Weber Canyon land sales jumped from 3 to 8 (+167%), with volume up more than sixfold to $9.0 million — a smaller market, but one of the quarter’s sharpest percentage gains anywhere.
The 12-Month View: The Market’s True Scorecard
For a resort market as seasonal as Park City, the rolling 12-month data — comparing the year ending September 30, 2026 against the same period a year prior — provides the most reliable read on underlying health.
| Type | Yr-end Q3’25 Units | Volume | Yr-end Q3’26 Units | Volume | Units Chg | Vol Chg |
| Single Family | 1,282 | $3.414B | 1,347 | $3.730B | +5% | +9% |
| Condominiums | 970 | $1.637B | 785 | $1.346B | -19% | -18% |
| Land | 444 | $560.5M | 524 | $700.3M | +18% | +25% |
| TOTAL | 2,696 | $5.612B | 2,656 | $5.776B | -1% | +3% |
The story these numbers tell is consistent with the quarter: the overall market is holding its value even as condo transactions keep declining. Single-family’s combination of more sales and much more volume (+9%), together with land’s continued acceleration (+25% in volume on top of an already-strong base), is doing the heavy lifting. Condominiums are down double digits in both units and volume on a trailing-12-month basis — the clearest sign yet that this is a genuine correction, not quarter-to-quarter noise.
Themes Shaping the Fourth Quarter
Land’s Signal Keeps Strengthening
Historically, land activity leads the broader housing market by 12-24 months: buyers acquire lots today to build or sell tomorrow. Land is now up in both units and volume on both a quarterly and trailing-12-month basis — the most consistent trend line in the entire market. Snyderville Basin and Heber Valley posted the quarter’s clearest unit gains, Jordanelle’s volume rose even on flat unit counts, and South Jordanelle’s extraordinary Q2 spike continues working through the trailing-year numbers. That combination of breadth and duration is a meaningfully stronger signal than a single standout quarter.
The Condo Correction Looks Different Than It Did in Q2
Earlier in the year, condo softness was concentrated in a handful of areas digesting an unusually large wave of 2024-2025 new-construction closings. This quarter’s decline is broader — Park City Limits, Snyderville Basin, Jordanelle, and Heber Valley all posted double-digit unit declines simultaneously. That pattern is harder to explain purely as a single-development supply story, and worth watching closely in Q4 to see whether it is demand pulling back, or simply the back half of the same digestion process.
Single-Family Is Splitting Into Winners and Losers
Old Town, Jordanelle broadly, and several smaller Heber Valley sub-areas all posted meaningful quarterly declines, while Promontory, Snyderville Basin overall, and Thaynes Canyon posted some of the strongest gains in the market. Rather than one single-family market moving in one direction, Q3 2026 looked like several smaller markets, each telling its own story — which argues for pricing and strategy decisions that are specific to the sub-area rather than the broader MLS trend.
Rate and Insurance Headwinds Persist
Elevated mortgage rates and broader economic uncertainty continued to weigh on buyer confidence in the upper-mid market through Q3, consistent with the pattern seen earlier in 2026. The luxury segment, where cash transactions are more common, remains comparatively insulated. Fire-risk insurance reclassifications in parts of Summit and Wasatch Counties also continue to factor into purchase decisions in exposed areas — a headwind that is difficult to quantify precisely but is likely to grow in importance heading into 2027.
Outlook: A Market Finding Its New Shape
The greater Park City market enters the fourth quarter of 2026 with a more differentiated picture than it had six months ago. Land’s momentum looks durable rather than a single-quarter anomaly. Single-family demand remains real but increasingly selective — concentrated in specific sub-areas rather than spread evenly across the MLS. And condominiums are now in a genuine, broad-based correction that goes beyond the post-new-construction digestion story used to explain the softness earlier in the year.
The fundamental case for Park City real estate — scarcity, amenities, lifestyle, and a long track record of appreciation — remains intact. What has changed is the texture beneath the headline numbers: fewer total transactions are producing roughly the same aggregate dollars, which points to a market where buyers are being more selective about where, and at what price, they are willing to transact.
About the Wasatch Back Market:
Real estate in the Wasatch Back consists of highly segmented markets with nuances that vary significantly from one neighborhood to another and one house to another. Comparisons are hard to read on paper due to the unique features of individual properties, such as amenities, condition, style, location, age, view, and inventory. Buyers and Sellers are advised to contact a local Park City Board of REALTORS® Professional for the most accurate, detailed, and current information.
Note: Data is preliminary and subject to revision as late-reporting transactions are recorded. Only areas meeting minimum transaction thresholds are included in sub-area statistics. Primary Market Area totals reflect PCMLS’s Primary Service Area filter (Summit & Wasatch Counties) and will not exactly equal the sum of the named major areas shown, which exclude smaller outlying areas counted in the Primary total.