Best Time to Buy and Sell Park City Ski Properties

Real Estate Analysis - 7 Minute Read

2/24/2023(Updated 7/8/2023)

Park City, Utah is renowned for its world-class skiing and stunning mountain vistas, attracting visitors from around the globe. For many, this winter wonderland is not only a vacation destination but also a desirable location for owning a ski property. However, with a multitude of neighborhoods, property types, and fluctuating market conditions, deciding when to buy or sell a ski property in Park City can be challenging. In this blog post, we will explore the various areas considered prime ski property locations, the types of properties available, and the seasonality of listings and inventory. Finally, we'll discuss the best times to buy and sell, so you can make informed decisions about investing in Park City's thriving real estate market.

Many people jointly look for properties in a Park City ski community and Old Town. Both property markets offer fun activities, excellent nightly rental income opportunities, and easy ski resort access. You will find the market dynamics to be very different when it comes to buying and selling properties.

When is the Best Time

The best time to buy a ski property is during the summer while the best time to sell a ski property is during the ski season. The best deals are achieved when the days on market peak in August and September. Ski season is the best time to sell your property since the buyers are naturally energized, and buyers will find the best property selection.

Park City Ski Property Areas

Ski real estate areas are neighborhoods that offer convenient access to skiing, either through ski-in/out accommodations or by being within walking distance of ski runs. Park City's two intown resorts are Deer Valley and Park City Mountain Resort. Both of these areas offer a range of properties that provide easy access to the slopes, making them highly sought-after by ski enthusiasts and investors alike. The links below provide a brief overview of the Park City real estate areas for ski properties along with some summary statistics. You can view all of the Park City real estate areas at our Areas page that contains an interactive map.

1. Canyons Village
2. Old Town
3. Lower Deer Valley Resort
4. Upper Deer Valley Resort
5. Empire Pass
6. Deer Crest
7. Mayflower-Jordanelle

Types of Properties

Buyers in the market for a ski property have a range of options to choose from, with a significant focus on condo-style living. The pie chart below titled "Listing by Type - Ski Properties" shows the breakdown of listings by property type in Park City ski areas. According to the chart, condos make up the largest percentage of listings at 56%, followed by single-family homes at 23%, and townhomes at 21%. The links to the Park City Ski Areas above provide a property type breakdown specific to each area.

Ski Property Listing Seasonality

The seasonality of the Park City ski market can have a significant impact on the number of new property listings and the total number of active listings. As shown by the blue line in the chart "# New Listings & Inventory," the number of new listings typically surges in November and December, just at the start of the traditional Park City ski season. These elevated levels of new listings tend to remain consistent throughout the ski season, reflecting the high demand for ski properties during this time. Additionally, May and June are traditionally strong months for real estate sales, and this trend is reflected in the chart with a bump in new listings during this period. New listings dip in April with the end of the ski season and the beginning of the dreaded "mud season" – a time when locals head south for Moab for hiking and mountain biking.

The chart not only shows the number of new property listings but also provides insight into the inventory levels of the Park City ski market. As indicated by the green bars on the chart, there is a significant drop in inventory levels in October as ski property owners remove their old listings after the active summer season. However, inventory levels quickly build up after bottoming out in October, thanks to the high number of new listings heading into the ski season. Interestingly, inventory levels remain consistent through the winter, spring, and summer, indicating a good balance between increasing new listings and buyers looking for properties.

Seasonality of Property Types

The "New Listings by Unit Type" radar plot provides a deeper dive into the number of new listings for each type of property in the Park City ski market. As expected, given that condos make up the majority of ski area properties, they outpace other property types each month. Townhouse new listings remain fairly consistent year-round, while single-family homes surge in June and July and approach the number of new condo listings. This implies that you will find more single-family house ski properties in the summer and more condo listings in the winter, reflecting the seasonality of the ski market. Understanding these trends can help buyers and sellers make informed decisions about when and what to buy or sell in the Park City ski market.

When to Sell

Determining the best time to sell a ski property is critical to achieving a successful transaction, and the "# New Listings & Pended" chart provides valuable insights into buying trends in the Park City ski market. As indicated by the green bars on the chart, most ski properties are put under contract during the winter and summer, coinciding with the times when the most visitors are in town. This data suggests that the best time to sell a ski property is during the ski season or the summer when the demand is the highest. However, it's worth noting that properties listed during the summer have been on the market longer, indicating increased buying activity from bargain hunters. Overall, understanding the buying trends in the Park City ski market is essential for sellers looking to maximize their profits and close successful transactions.

When to Buy

For those looking to buy a ski property in Park City, the best time to do so is during the summer months. The "New Listings & DOM" chart provides valuable insights into the median days on market for ski properties, with green bars indicating the number of days a property has been listed. The chart shows that the days on market steadily increase from winter to the end of summer, with late summer having the most inventory along with the longest time on the market. This data suggests that the summer months provide an excellent opportunity for buyers to take advantage of a wide selection of properties and potentially negotiate a better deal with sellers. Moreover, the summer season also sees an increase in single-family houses coming to the market, making it an ideal time for those looking for this property type. Additionally, buying a property during the summer allows you to see the exterior without snow coverage.

Slope Style Realty – Ski Property Experts

At Slope Style Realty, we have decades of experience helping clients buy and sell ski properties in Park City's ski areas. Our team consists of professionals who not only have extensive knowledge of the real estate market but also have personal experience living the ski property lifestyle. We are passionate about helping our clients find the perfect ski home and are committed to providing exceptional service throughout the buying and selling process. Whether you're looking for a house, condo, townhouse, or land in the Park City ski areas, we have the expertise to help you achieve your real estate goals. Please contact us today so we can get your perfect place for the next ski season.