Park City, Utah, is well known for its resplendent mountain views, world-class ski resorts, and the illustrious, celebrity-filled Sundance Film Festival. Each is an exciting and alluring reason to purchase a flight and spend a week or two in the Wasatch Back. But what about owning a luxury condo here year-round?
Along with the epic winters (last year’s was one for the record books!) and larger-than-life resorts, Park City condo ownership offers owners more than meets the Travel Channel’s eye. From the consistent rise in home values to the myriad cultural and outdoor experiences available no matter the season, this charming mountain town has something to offer nearly everyone.
Whether you’re looking for a primary residence for your family, a getaway location you can call your second home, or a rental property to diversify your portfolio, the luxury condo market in Park City is vibrant and alive with opportunities.
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Four-Season Fun
At 7,000 feet in elevation, Park City (PC) is nothing short of a four-season outdoor adventureland. Spring days are showcases of colorful mountain wildflowers and blue skies dotted with hot air balloons. Then comes the warmth of summer, with its trips to the farmer’s market for locally grown produce and the Park Silly Market hunting for handmade arts and crafts.
Technicolor autumn is a favorite “off-season” time of year—complete with golden, shimmering aspen trees, festivals, and Halloween parades (for humans and their four-legged friends). Hikers and bikers enjoy the crisp air and over 400 miles of pristine, professionally maintained trails, watching as winter storms begin to roll in. With each thick blue-gray cloud comes the hope of more of the greatest snow on earth, laying the base for Park City’s most famous season.
Want to learn more about living in Park City? Here are some more posts and resources:
- Free Download: Request Our Local Guide
- Why Park City is the Best Mountain Town to Live In
- Taking a Look at Park City’s Most Prestigious Neighborhoods
Low-Maintenance
While it’s true of most condos in most cities, a luxury condo in Park City is particularly advantageous thanks to the low-maintenance lifestyle they encourage. No one wants to spend their vacation doing chores, and a Park City luxury condo is the best way to take advantage of the incredible activities and amenities without living in a space that requires maintenance.
Most condo fees cover building maintenance such as grass cutting and snow shoveling. Which means more time for skiing, mountain biking, or relaxing at Park City’s world-class spas and resorts.
Speaking of resorts…
The Best Ski Resorts
PC’s winter sports scene is the siren’s call for everyone from Parkites (aka locals) to out-of-town, wide-eyed powder chasers. Park City boasts not one but two of the world’s finest resorts (with four more only a 45-minute drive away): Deer Valley Resort and Park City Mountain Resort. The former was voted the #2 ski resort in North America by SKI Magazine (2023). The latter has the most skiable terrain (7,300 acres) in the United States. Excitingly, yet another world-class resort—Mayflower Mountain Resort—is on its way!
What’s the difference between Park City and Deer Valley? Read more in our blog right here.
This isn’t just good news for skiers. These resorts, along with Park City’s picture-perfect winter wonderland backdrop, bring in over 2.5 million visitors each year (of the over 4 million annually)—great news for those wanting a residence that generates rental income.
No matter where you are in the area, you’re never more than 15 minutes away from a day on the slopes, an après-ski cocktail by the fire, and dinner at one of the many award-winning restaurants. For a town so focused on the things that make life worth living, Park City’s catchphrase, “No worries,” wraps up its cultural mentality perfectly.
Home Values
Combined with the visceral allure of this postcard city are the practical and financial opportunities for condo and home ownership in the town. In short, home values are on the rise and have been for some time.
While no one can predict with absolute certainty what way the local real estate market will go, most experts agree that real estate is a safe investment as it appreciates slower and more steadily than other investments such as stocks.
So even though month-over-month or even year-over-year market stats may fluctuate, property values do tend to trend upward in the long term.
Condos, in particular, are often considered a good investment. With a lower price point than a detached home and proximity to incredible Park City amenities, there is always demand for condos in the area.
Thinking about buying or selling in Park City? Read these posts next:
- When is the Best Time to Sell a Home in Park City
- Benefits of Owning a Vacation Home in Park City
- Park City Home Selling FAQ
Potential for Rental Income
Park City is such a sought-after destination, you will find a lot of people who want to vacation here without actually owning a property. Therefore, the potential for short-term and long-term rentals is significant.
Whether you’re purchasing a condo to rent, or if you are interested in simply renting out your condo on a nightly basis when you aren’t using it, there are plenty of opportunities for rental income for luxury condo owners in Park City.
In fact, the occupancy rates during ski season in Park City are high, meaning there is a greater chance for higher rental income.
However, be mindful of the laws and regulations. Some neighborhoods do not allow nightly rentals, while others may have specific rules and regulations. The best way to understand the short-term and long-term rental rules in Park City is to work with an experienced Park City real estate team.
Convenience
Whether you, your family, or your guests are coming to enjoy the snow or the trails, getting in and out of Park City is quick and easy. The Salt Lake City International Airport is a short 30- to 45-minute drive, and once at the airport, it’s less than a 2-hour flight to Los Angeles, under 4 to Chicago, and not even 6 to NYC.
In addition, to accommodate the growth of the local economy (anyone heard of the Silicon Slopes?), the Utah Department of Transportation is hard at work making improvements to the highways and roads connecting it all—widening, resurfacing, and expanding on a huge scale—all well ahead of any congestion issues.
These efforts and the proximity to air transportation make Park City the most convenient large-scale mountain town in the USA.
Cost of Living and Quality of Life
While housing costs are higher in Park City, utilities, food, and healthcare costs are generally lower than in most major metropolitan areas. Living in a Park City luxury condo also has its perks including lower costs for heating and cooling than you would find in a detached home, and depending on the condo, you may have added amenities such as access to world-class fitness studios, pools, saunas, and more.
Come see what Park City has to offer—enjoy its bluebird days, breathe in its crisp mountain-air nights, and embed its no-worries mentality into your day-to-day life.
For more information on buying a luxury condo in Park City, you can call us directly at 435-647-8035 or email us at info@cmfhparkcity.com today.
