Kyler here- Welcome to the first blog entry for Après Realty! Here is where you will find all things happening in the Park City market. Think of it as a bi-weekly newspaper for real estate. I will focus on new projects coming to town, market activity, and some really cool properties that trade in the market.
As I write this, the US market happens to be in a pretty interesting place. A LOT of people are watching market movements and making real estate decisions based on their interpretations. Consumer confidence has dropped since the beginning of 2025 with the uncertainty as to where the stock market will end up by EOY. Graph Below:
The interesting thing though- With Park City being a primarily cash market for second homeowners, is this really affecting our market? The answer is yes but mainly no. Cash remains king with 60% of our sales closing accordingly. Is this people pulling out of the stock market for something more secure? We are seeing high dollar properties ($6 million and up) move consistently while the more practical properties ($800k-2 million) sit longer before selling. I simply think this is different levels of risk at different levels of wealth for buyers.
Regardless, sales for the year are up 15% and we are not even in ‘buying season’ yet. When you look at the graph below you will see that the National market and Park City market skip to two completely different beats.
I think we can all agree by now that the Covid bump was a market anomaly. Looking at the trends, it looks like the Park City boat may finally be starting to sail smoothly (or at least semi-normally) again.
New heights are being reached in Deer Valley East Village with $ per square foot offerings now all the way up to $3,200. The announcement of luxury hotel chains such as Four Seasons and the AMAN group have been received well- Four Seasons units are currently selling like hot cakes! Are we creating our own little slice of Aspen-esque mountain lifestyle? We may be losing the Sundance festival, but the glam in Park City isn’t going anywhere.