Park City’s $10M+ Market: What Active, Pending, and Sold Luxury Properties Are Telling Us

What is happening in Park City’s $10M+ luxury real estate market right now?

Park City’s $10M+ market remains active, but highly segmented. A review of current $10M+ activity shows 66 active listings, 34 pending properties, and 40 closed sales over the last year, which tells us ultra-luxury buyers are still participating — but they are being selective about location, product, and pricing.

The Big Picture: A Deep but Selective Ultra-Luxury Market

The $10M+ segment in Park City is no longer a niche category with only a handful of listings. It now represents a meaningful upper tier of the market, with current active and pending list-price volume totaling roughly $1.75 billion.

That does not mean every luxury listing is moving quickly. It means the top of the market has depth, but buyers are paying close attention to the details: ski access, new construction, views, acreage, club amenities, walkability, rental flexibility, architecture, and overall replacement value.

In a market like this, pricing strategy matters. The buyers are there, but they are not treating every $10M+ property the same.

Current Active Inventory: 66 Properties Over $10M

Current active $10M+ inventory includes 66 properties with a combined list volume of approximately $1.23 billion.

The median active list price is about $15.95 million, while the average is higher at roughly $18.62 million, pulled upward by several trophy-level offerings. The highest active list price is $55 million.

By area, the largest concentration of active $10M+ listings appears in:

• Canyons Village: 14 active listings

• Deer Crest: 7 active listings

• Promontory: 6 active listings

• Tuhaye: 4 active listings

• Old Town and Old Ranch Road: 3 active listings each

That distribution tells an important story. The $10M+ market is not confined to one luxury pocket. It is spread across ski-access communities, resort villages, private club communities, and estate-oriented neighborhoods.

The median days on market for active listings is just under 100 days, while the average is higher. That tells me there is still buyer interest, but also that the market is rewarding properties that are well-positioned and exposing listings that are priced ahead of buyer expectations.

Pending Activity: 34 Properties Under Contract

The pending segment is especially important because it shows where buyers are actually stepping forward.

Right now, there are 34 pending $10M+ properties, representing roughly $518 million in pending list-price volume. The median pending list price is about $13.75 million, and the average is roughly $15.24 million.

The strongest pending concentration appears in:

• Empire Pass: 15 pending listings

• Deer Valley East Village: 8 pending listings

• Deer Crest: 4 pending listings

• Promontory: 3 pending listings

This is one of the clearest signs of the current market: the ultra-luxury buyer is still highly engaged with ski-oriented, new-development, and resort-lifestyle product. Empire Pass and Deer Valley East Village stand out because they reflect the continued pull of Deer Valley-branded lifestyle, new inventory, and high-end condominium or residence-style offerings.

Pending inventory also appears to skew more toward stacked or multi-level residences than the active and sold categories, which suggests that new luxury condominium and resort-residence product is playing a major role in today’s upper-end pipeline.

Sold Activity Over the Last Year: 40 Closed Sales

Over the last year, there have been 40 closed sales at or above the $10M+ level, totaling approximately $589.6 million in closed volume.

The median sold price was about $13.78 million, while the average sold price was approximately $14.74 million. The highest sale was about $25.79 million.

The most active sold areas by count were:

• Empire Pass: 9 sales

• Canyons Village: 6 sales

• Promontory: 6 sales

• Deer Crest: 4 sales

• Tuhaye: 4 sales

By closed volume, Empire Pass, Canyons Village, Promontory, Deer Crest, and Tuhaye accounted for a significant share of the $10M+ activity. That reinforces the importance of recognizable luxury environments, resort access, and community identity at the top of the Park City market.

The median sold-to-list ratio was approximately 96.5%, which is a useful signal. Buyers are negotiating, but quality properties are still trading at strong numbers when pricing and positioning are aligned.

How This Fits the Broader Park City Market

The broader Park City market has become more segmented in 2026. According to Park City Board of REALTORS® Q1 2026 reporting, single-family homes were the stronger category, while condominium sales slowed more noticeably in the first quarter. At the same time, rolling 12-month figures remained healthier than the single-quarter condo numbers might suggest.

That matters because the $10M+ segment does not always move in the same direction as the broader market. Ultra-luxury buyers are often less rate-sensitive, more lifestyle-driven, and more focused on scarcity, setting, and long-term use.

In Park City proper, PCBR reported fewer single-family sales in Q1 but a nearly unchanged median price near $4.0 million. To me, that points to a market where sellers are not broadly capitulating on price; instead, buyers are becoming more selective and each submarket needs to be evaluated on its own merits.

What Sellers Should Take Away

For sellers in the $10M+ range, this is not a market where aspirational pricing should be treated casually. There is meaningful buyer activity, but buyers have options.

A strong luxury listing needs more than a high price point. It needs a precise pricing strategy, compelling presentation, thoughtful launch timing, and a clear explanation of why the property deserves its position in the market.

The best-positioned properties are those that make the value obvious.

What Buyers Should Take Away

For buyers, the current $10M+ market offers a wide range of choices across Deer Valley, Canyons Village, Promontory, Tuhaye, Old Town, and other high-end submarkets.

The opportunity is not simply finding a luxury property. It is identifying which property best matches your long-term use: ski access, new construction, club lifestyle, walkability, privacy, views, rental potential, or legacy ownership.

At this level, neighborhood and product fit matter as much as price.

Final Takeaway

Park City’s $10M+ market remains active, but it is not uniform. Current activity shows deep active inventory, a substantial pending pipeline, and nearly $590 million in closed ultra-luxury sales over the last year. The strongest activity is clustering around recognizable luxury settings such as Empire Pass, Canyons Village, Deer Crest, Promontory, Tuhaye, and emerging Deer Valley East Village inventory.

For buyers and sellers, the message is clear: Park City’s ultra-luxury market still has momentum, but success depends on understanding the micro-market, not just the headline price.

Looking for Local Guidance?

If you are thinking about buying, selling, or simply understanding where you fit within the Park City luxury market, reach out to Esteban J. Nunez, real estate advisor with Engel & Völkers Park City, for local guidance rooted in market knowledge, lifestyle insight, and strategic real estate experience.

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