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The price of homes around Park City, and other mountain towns like Jackson and Aspen, continues to grow.
Sotheby’s International Realty from a dozen Mountain West resort areas compiled 2025 market data into the annual Resort Report, released in March.
Together, the branches are part of Sotheby’s “Majestic Realty Collective.” Tiffany Fox is the collective’s senior vice president of marketing.
She said Sotheby’s luxury clients have trended younger even as prices rise during the last four to five years.
“The baby boomers, even into the Silent Generation, they’re transferring their wealth to millennials and into, also, the Gen Z population. So we’re seeing buyers become a lot younger,” Fox said on KPCW’s “Local News Hour” in March. “We’re seeing people in their 40s, even their late 30s, coming with a significant amount of money and purchasing the ultra-luxury properties.”
Despite ages trending younger, the Park City area still sees a disproportionate number of cash sales.
“And because of that shift of wealth, you’re seeing people that are not rate-sensitive,” Fox said. “Some of what’s going on in the world, the economy, does not impact them. They really are making a decision based on the lifestyle that they want to live, right now.”
Investors typically welcome steady growth in real estate values, but Fox added that it’s important to remember that workers can get priced out or left behind.
Other data shows that local incomes outstrip average workforce salaries by tens of thousands of dollars. Summit County staff think that suggests many residents have incomes bolstered by “dividends, interest and rent.”
“That’s why it becomes so important for us to have conversations like this, and greater conversations where we can talk through: what does workforce housing look like? What opportunities do we have in the community? And also have conversations regarding ‘not-in-my-backyard,’” Fox said.
For the 2026 Resort Report, Sotheby’s split Utah’s ski real estate into two main areas: the Cottonwood Canyons and greater Park City area.
Park City moves the most money, reporting $4.9 billion in sales last year, almost five times the sales around Big and Little Cottonwood Canyon.
Within Park City, Sotheby’s also took a look at Deer Valley East Village on its own. The report highlighted $750 million in pre-construction sales there during 2025.
That means buyers are committing early, before homes or condos are complete.
The Resort Report includes areas like Hideout in the greater Park City area.
The region as a whole is beating out North Lake Tahoe, California; Aspen, Colorado; and Jackson, Wyoming, in terms of sales volume.
Jackson saw $1.2 billion in sales in 2025. The north shore of Tahoe and Aspen each did more than $2 billion.
Annual sales around pricey but more remote resorts like Telluride, Colorado, and Sun Valley, Idaho, range from $600 million to $900 million.
