image courtesy of SkyRidge
Park City Homesites Market Report
New Development Report - 5 Minute Read
10/30/2023
Count
# Listings
296
Proportion
% Active
31%
Secluded
Lowest priced
$225K
Luxury
Highest price
$15M
The Park City Land market currently represents 31% of all active listings with 296 lots for sale in the Park City MLS. Homesite prices and acreage varies widely with the best selections located in the planned developments, such as Promontory, SkyRidge, and Tuhaye. The least expensive lot is located in Summit Park for $225,000 for 0.5 acres while the most expensive homesite in Park City is $15,000,000 for 0.71 acres in Empire Pass. The largest median sized lot will be found slopeside in Canyons at 10.3 acres and the smallest in historic Old Town at 0.12 acres.
Here are some high level facts to get a feel for the land for sale in Park City:
- The median price for land is $995,000 or $1,036,458/acre
- The average price for land is $1,600,000 or $1,036,000/acre
- The median lot size currently for sale is 0.96 acres yet the average is 2.4 acres
- The median lot has been for sale for 157 days while the average is 232 days
In case you're curious, the most expensive property is found in the heart of Old Town at $47,375,000 per acre or $1,087 per square foot! The least expensive land is in Stagecoach Estates for $68,226. The real estate market in Park City, Utah offers a diverse range of prices and options within a compact area, from secluded mountain properties for those seeking tranquility, to the vibrant urban lifestyle of Old Town, amenity-rich communities for a luxurious living experience, and ski-in ski-out resort properties for the ultimate winter sports enthusiast. There’s truly something for everyone in this dynamic market.
Table of Contents
Park City Land Report Quick Facts
| Number active listings | 296 |
|---|---|
| Proportion of all listings | 31% |
| Most affordable homesite | Summit Park at $225,000 |
| Highest priced homesite | Empire Pass at $15,000,000 |
| Most total listings | Promontory with 73 total listings |
| Largest lot | South Jorandanelle at 53 acres |
| Most expensive area | Upper Deer Valley at $19,350,000 per acre |
| Least expensive area | Stagecoach Estates at $68,226 per acre |
How can we help you find the perfect parcel in Park City?
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Land Listing Price and Activity Market Trends
Over the last four years, land sales in Park City, Utah, have seen a significant increase in price. The cost has surged from $450,000 to a staggering $1,100,000 this quarter. However, it’s important to note that there has been a 25% decrease in price since Q4 2022. If we disregard the brief spike in prices during Q4 2022, the price trend has been fairly steady over the last year. This suggests that despite the recent dip, the overall value of land in Park City remains robust.
Land sales in Park City, Utah, experienced a rapid increase during the second half of 2020, peaking in Q4 2020 with a total of 290 closed transactions. However, since this peak, there has been a steady decrease in closed transactions throughout 2022. Despite this downward trend, sales have shown signs of slow improvement throughout 2023.
In terms of new land listings, there was an increase throughout 2021, but this has been decelerating since then. The number of active listings for land saw a quick decrease into Q2 2021 due to the strong sales volume and slowly ramping new listings. However, the number of active listings grew throughout 2022 and has remained steady in 2023. This suggests a balanced market with a healthy level of supply and demand.
The following two charts illustrate the pricing and inventory trends over the last 4 years.
Where to Find Land for Sale in Park City
If you’re looking to purchase land in Park City, Utah, the majority of homesites for sale are located in the large planned communities of Promontory, SkyRidge, Tuhaye, and Glenwild. Promontory leads the pack with 73 lots spread across 22 neighborhoods. SkyRidge, located near East Village, is offering 45 lots on the MLS in just a single neighborhood. Tuhaye has 39 homesites on offer. Interestingly, the town of Hideout has 29 active listings thanks to multiple low amenity, custom and spec build oriented neighborhoods of Golden Eagle (14), Hideout Canyon (9), and Soaring Hawk (7). The Glenwild area also offers a variety of options with 15 lots across the Glenwild, The Preserve, and Stagecoach Estates developments.
The following chart shows areas with land for sale and has been filtered to remove areas with less than 3 homesites for sale. Areas are displayed in descending order by number of active listings.
When discussing the median sales price for land in Park City, Utah, it’s important to note that this analysis applies to areas with at least 3 lots for sale. A detailed table with statistics for each neighborhood, regardless of the number of active listings, is presented at the end of this article.
Currently, the highest median prices are for land in Old Ranch Road, Canyons, Silver Creek, and East Village. Silver Creek South is a bit of an anomaly in this discussion due to some pricey commercial property for sale. Old Ranch Road commands a median price of $8,000,000 per lot due to their large size and the area’s desirability, characterized by its flat land and amazing views. The The Colony in Canyons Village features large lots with ski-in ski-out access to Park City Mountain Resort, big views, and luxury living, earning this area a median price of $6,525,000. Marcella at Deer Valley is a new development at the base of Deer Valley at Mayflower Mountain. This luxury development commands a median price of $3,333,333.
For more affordable options, though less plentiful, consider the Salt Lake City commuter-friendly areas of Jeremy Ranch, Pinebrook, and Summit Park along with the community of Hideout.
The following chart shows the median list price for land for sale by area. The areas have been filtered to remove areas with fewer than 3 homesites for sale. Areas are displayed in descending order by list price.
And for completeness, here is a chart showing the median lot size currently active in the market. Again, we are examining the areas with at least 3 homesites for sale.
Land Price Stats for Park City Areas
The following table lists all of the Park City, Utah areas offering active land listings. The neighborhoods are shown for each area with the number of listings, price range, and lot size to help fine tune your search for a new homesite. We have years of successful experience guiding clients through finding just the right parcel in our wide ranging market. So please reach out if you have any questions or want to check out some lots.
| Neighborhood | Count | Price | Acres |
|---|---|---|---|
| Aerie | 3 | $1,000,000 – $5,000,000 | 0.29 – 0.81 |
| Aerie Area | 3 | $1,000,000 – $5,000,000 | 0.29 – 0.81 |
| Canyons | 4 | $5,950,000 – $8,500,000 | 5.56 – 22.71 |
| The Colony | 4 | $5,950,000 – $8,500,000 | 5.56 – 22.71 |
| Deer Crest | 1 | $4,500,000 | 1.28 |
| Deer Crest Estates | 1 | $4,500,000 | 1.28 |
| Deer Mountain | 12 | $275,000 – $1,495,000 | 0.32 – 25.93 |
| Deer Mountain | 4 | $399,000 – $1,100,000 | 0.32 – 25.93 |
| Deer Vista | 7 | $500,000 – $1,495,000 | 0.77 – 1.21 |
| East Park | 1 | $275,000 | 0.51 |
| Empire Pass | 2 | $5,750,000 – $15,000,000 | 0.71 – 1.49 |
| Bannerwood | 1 | $15,000,000 | 0.71 |
| Red Cloud | 1 | $5,750,000 | 1.49 |
| Glenwild | 18 | $695,000 – $10,750,000 | 1.05 – 46.61 |
| Glenwild | 5 | $995,000 – $2,300,000 | 1.05 – 2.46 |
| Ranches At the Preserve | 3 | $1,500,000 – $1,895,000 | 10.05 – 21.31 |
| Stagecoach Estates | 5 | $695,000 – $1,175,000 | 10 – 19.73 |
| The Preserve | 5 | $1,490,000 – $10,750,000 | 6.04 – 46.61 |
| Hideout | 29 | $250,000 – $756,000 | 0.08 – 0.88 |
| Golden Eagle | 11 | $410,000 – $756,000 | 0.48 – 0.88 |
| Hideout Canyon | 9 | $399,000 – $699,000 | 0.08 – 0.67 |
| Overlook Village | 1 | $310,000 | 0.08 |
| Silver Sky | 1 | $595,000 | 0.25 |
| Soaring Hawk at Hideout | 7 | $250,000 – $500,000 | 0.19 – 0.28 |
| Jeremy Ranch | 5 | $595,000 – $1,068,000 | 0.43 – 0.69 |
| Back Nine | 1 | $795,000 | 0.5 |
| Jeremy Ranch Area | 2 | $595,000 – $800,000 | 0.43 – 0.44 |
| The Woods of Parley's Lane | 2 | $895,000 – $1,068,000 | 0.61 – 0.69 |
| L. Deer Valley | 2 | $1,695,000 – $2,895,000 | 1.33 – 3.04 |
| Fox Tail | 1 | $1,695,000 | 3.04 |
| Hidden Oaks | 1 | $2,895,000 | 1.33 |
| East Village | 3 | $2,500,000 – $4,250,000 | 0.38 – 2.94 |
| Marcella | 3 | $2,500,000 – $4,250,000 | 0.38 – 2.94 |
| Mayflower-Jordanelle | 50 | $350,000 – $987,600 | 0.16 – 0.82 |
| Gardner Addition | 1 | $350,000 | 0.54 |
| Keetley Ridge | 1 | $689,000 | 0.19 |
| SkyRidge | 45 | $709,900 – $987,600 | 0.16 – 0.5 |
| Star Harbour Estates | 3 | $424,000 – $700,000 | 0.23 – 0.82 |
| Old Ranch Road | 3 | $7,995,000 – $8,495,000 | 3.63 – 5 |
| Old Ranch Road Area | 2 | $7,995,000 – $8,495,000 | 4.78 – 5 |
| Quarry Mountain Ranch | 1 | $8,000,000 | 3.63 |
| Old Town | 3 | $1,895,000 – $2,225,000 | 0.04 – 0.15 |
| Old Town Area | 1 | $1,995,000 | 0.12 |
| Park City Survey | 1 | $1,895,000 | 0.04 |
| South Old Town | 1 | $2,225,000 | 0.15 |
| Park Meadows | 2 | $2,350,000 – $3,100,000 | 0.86 – 2.88 |
| Eagle Pointe | 1 | $3,100,000 | 2.88 |
| Fairway Hills | 1 | $2,350,000 | 0.86 |
| Pinebrook | 7 | $350,000 – $530,000 | 0.11 – 0.81 |
| Discovery Ridge | 6 | $350,000 – $425,000 | 0.11 – 0.16 |
| Pinebrook | 1 | $530,000 | 0.81 |
| Promontory | 73 | $425,000 – $5,600,000 | 0.44 – 3.67 |
| Aspen Camp | 6 | $699,000 – $1,200,000 | 1.04 – 1.75 |
| Badger Court | 1 | $1,350,000 | 0.96 |
| Bison Bluffs | 1 | $1,000,000 | 0.88 |
| Buffalo Jump | 1 | $880,000 | 0.59 |
| Deer Crossing | 7 | $750,000 – $1,650,000 | 1.05 – 1.65 |
| Elk Ridge Bluffs | 4 | $1,750,000 – $2,200,000 | 1.62 – 3.03 |
| Elk Ridge Heights | 1 | $1,995,000 | 2.62 |
| Hillside Estates | 3 | $1,125,000 – $1,400,000 | 1.12 – 1.66 |
| Northgate Canyon | 7 | $425,000 – $800,000 | 1.02 – 1.35 |
| Painted Shores | 5 | $700,000 – $1,900,000 | 1.21 – 2.26 |
| Painted Shores Beach Side | 2 | $1,000,000 – $1,300,000 | 1.02 – 1.43 |
| Pinnacle at Promontory | 8 | $3,400,000 – $5,600,000 | 1.96 – 3.67 |
| Private Estates at Painted Shores | 3 | $850,000 – $1,100,000 | 1.09 – 1.87 |
| Promontory Ridge | 1 | $1,300,000 | 1.06 |
| The Fairways | 5 | $1,200,000 – $1,500,000 | 1.24 – 2.22 |
| The Homesteads | 4 | $875,000 – $950,000 | 0.44 – 0.76 |
| The Palisades | 3 | $1,100,000 – $1,400,000 | 1.06 – 1.3 |
| The Summit | 2 | $995,000 – $2,295,000 | 1.17 – 3.23 |
| Vista Point | 6 | $1,400,000 – $2,300,000 | 1 – 3.19 |
| Wapiti Canyon | 1 | $2,600,000 | 0.84 |
| West Hills | 1 | $1,100,000 | 1.07 |
| West View | 1 | $759,000 | 0.56 |
| Silver Creek Estates | 7 | $650,000 – $1,750,000 | 0.9 – 16 |
| Silver Creek | 7 | $650,000 – $1,750,000 | 0.9 – 16 |
| Silver Creek | 3 | $600,000 – $7,250,000 | 0.82 – 16.13 |
| Commercial Land | 2 | $4,900,000 – $7,250,000 | 3.96 – 16.13 |
| Silver Gate Ranches | 1 | $600,000 | 0.82 |
| South Jordanelle | 18 | $369,990 – $5,995,000 | 0.27 – 52.76 |
| Benloch Ranch | 9 | $369,990 – $650,000 | 0.27 – 1.12 |
| Victory Ranch | 9 | $1,350,000 – $5,995,000 | 0.96 – 52.76 |
| Summit Park | 7 | $225,000 – $595,000 | 0.24 – 0.99 |
| Summit Park | 7 | $225,000 – $595,000 | 0.24 – 0.99 |
| Sun Peak | 1 | $1,150,000 | 0.63 |
| Mahogany Hills | 1 | $1,150,000 | 0.63 |
| Thaynes Canyon | 2 | $2,695,000 – $2,990,000 | 0.42 – 1.52 |
| Aspen Springs Ranch | 1 | $2,695,000 | 1.52 |
| Thaynes Creek Ranch | 1 | $2,990,000 | 0.42 |
| Trailside Park | 1 | $1,100,000 | 1.26 |
| Highland Estates | 1 | $1,100,000 | 1.26 |
| Tuhaye | 39 | $550,000 – $3,600,000 | 0.48 – 5.08 |
| Tuhaye | 39 | $550,000 – $3,600,000 | 0.48 – 5.08 |
| U. Deer Valley | 1 | $12,000,000 | 0.62 |
| Bald Eagle Club | 1 | $12,000,000 | 0.62 |
Park City Land for Sale
Park City land market has 13 properties for sale. Prices range from $700,000 to $19,950,000 with the average of $6,274,800.Here are 9 of the current properties for sale.
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Andy Krumel – andy@slopestylerealty.com
Andy is a former naval aviator and Silicon Valley entrepreneur, having spent over 15 years delivering groundbreaking mobile and SAAS products. Andy brings his technical experience and innovative approaches to Slope Style Realty and KW Park City Keller Williams as a licensed Realtor.
