Park City, Utah, known for its skiing and luxurious lifestyle, has the highest median home value in the state at over $2 million. The population of around 8,000 includes a diverse demographic, from tech professionals to retirees, many relocating from California, New York, and Chicago. Real estate agent Derrik Carlson notes consistent price growth, with property values increasing between 8 to 12% in recent months. Approximately 50% of buyers are part-time residents seeking second homes in this elite ski destination.
Prices have continued to increase and hold strong. I ran a report last month on a couple of homes that had traded twice within 12 to 18 months, and they were up anywhere from 8 to 12%.
You have the tech people, the finance people, the CEOs, and small business owners. One of the most enjoyable things about working up here is everybody has a different background.
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