Best Areas To Buy A Second Home Around Park City, Utah
Jan 22, 2024
Feb 9, 2024
Park City has the perfect combination of outdoor adventure, cultural events, natural beauty, and accessibility. It's a beloved destination for visitors all over the world whether for vacation or year-round living.
If you're thinking about buying a second home in Utah, explore some of the best areas to buy a second home around Park City.
Outdoor recreation opportunities in Park City are vast. You can go fishing and camping at high alpine lakes like Mirror Lake and Trial Lake, or take your horses with you and stay at the Mill Hollow Equestrian Campground. It has horse-friendly amenities and access to the Mill Hollow Trail and other nearby trails for horseback riding.
The area receives abundant snowfall and features two of the best ski resorts in Utah and the entire country — Park City Mountain Resort and Deer Valley Resort. With a range of ski in ski out real estate in Park City, a second home here would not only mean unbeatable access to the slopes but also be a strong financial investment.
Park City Mountain Resort has over 7,000 acres of terrain and is a winter paradise for skiers and snowboarders. Even better, if you're a skier you can seamlessly switch over to Deer Valley Resort, as the resorts share a common boundary.
In the summer time, hiking and biking opportunities are plentiful with the resorts offering lift-served access to an extensive network of trails. PCMR also has a dedicated bike park and skills park for riders. Both resorts are located within the boundaries of the Uinta-Wasatch-Cache National Forest, which covers a significant portion of the state's area with a total of over 2.1 million acres.
Equally as infamous as the outdoor recreation in Park City are the world renown festivals like the Sun Dance Film Festival, Park City Food & Wine Festival, and the Kimball Arts Festival. The area has a walkable and vibrant downtown with delicious restaurants, cafes, and bars.
Because properties around Park City come with a steep price tag, it's important to consider the true costs of owning a second home here. Keep in mind the strong tourism industry makes it an attractive market for second home owners interested in short-term vacation rentals.
From market trends to median prices for the most popular neighborhoods and luxury communities in this upscale mountain town and the surrounding areas, Mountain Luxury explores the best places to buy a second home around Park City.
Popular Neighborhoods In Park City
As one of the only gated communities in the Park City area, Deer Crest is the epitome of luxury and extravagance. Located within Deer Valley Ski Resort, you'll find large single-family ski homes with incredible views of the Jordanelle Reservoir.
There are only 100 homesites sprawled across 600 acres in this ultra-exclusive area and the properties cover between 8,000-13,000 square feet. Almost every property offers ski in ski out access.
Positioned on the eastern side of the resort, much of this area is accessible from Lower Deer Valley and downtown Park City is just 10 minutes away.
Newly developed townhomes and condos in this community provide a varying range of price points with many of the same high-end amenities.
Currently there are land listings for $2.3M to $4.5M, condos starting at $1M, and some of the most luxurious estates reaching upwards of $20M.
Historic Old Town is a resort community in the heart of Park City, known for its vibrant Main Street.
There are many delicious restaurants like The Eating Establishment and Firewood on Main, as well as bars, lounges, art galleries and boutiques, in the well-preserved 19th century historic storefronts that line the street.
Old Town is famous for hosting the annual Sundance Film Festival, one of the most significant independent film festivals in the world. As a showcase of cinematic artistry that promotes diversity and independent voices in filmmaking, tens of thousands of people attend the festival for the film screenings, parties, and celebrity sightings.
The Old Town neighborhood is built into the side of the mountain with gorgeous views of the surrounding mountains and Park City Valley.
The area was once a thriving mining town, and the miners lived in many of these smaller, original homes. Newer homes on the ridge line, offer ski in and ski out options.
Single-family homes in this area range from $2.9M to $9M, and luxury condos closest to the ski resorts and Main Street ranging between $2M and $4M.
Just south of Main Street, Prospector is a smaller neighborhood within the the Old Town community. Prospector Square has shops, restaurants, and cafes.
This area is bordered by The Rail Trail, connecting to the extensive Park City trail system for hiking and biking.
There are hotels, single-family homes, townhomes, condos, and vacation rentals in this area. Buying a second home here could provide a rental income when you're not enjoying the home yourself.
There is a mix of full-time residents and seasonal residents, and it's a quieter option compared to the bustling Main Street area, yet still close to all of the town's amenities and recreation.
Properties in this area have a diverse range of price points, with older condos and townhouses starting at $500K to $700K, and luxury single-family homes, condos, and townhomes in prime locations reaching well into the multimillion-dollar range.
Just 5 miles outside of Old Town, Kimball Junction is at the interstate 80 and Utah State Route 224, making it accessible from both Park City and the Salt Lake City area.
It's a major commercial and retail hub in the Park City area, especially with the Tanger Outlets Park City shopping center.
The Park City Ice Arena is within this neighborhood, as well as the Basin Recreation Fieldhouse — a state-of-the-art indoor facility featuring indoor turf for sports like lacrosse, soccer, baseball, and softball, an indoor track, courts, and a fitness center with personal training services.
Visit the nearby Swaner Preserve for hiking, birdwatching, and wildlife viewing. Or spend the day on the water at Jordanelle State Park, only 10 minutes away.
The area's growth and development has transformed it into an attractive destination that combines a close proximity to the outdoors, city amenities, shopping, dining, and residential living in Park City.
With condos starting at around $600K and up, and luxury single-family homes in the multi-millions, there are a variety of price points available when buying a second home in Kimball Junction.
Best Areas Outside Of Park City
Surrounded by the Wasatch Mountains to the west and the Uinta Mountains to the east, this community has a small-town atmosphere and a passion for the outdoors.
Together the nearby Provo River, Jordanelle State Park and Reservoir, Wasatch Mountain State Park and Deer Creek State Park are a recreation paradise. Popular trails for hiking and biking in this area include family-friendly Cascade Springs Trail, the Dutch Hollow Trail and the Soldier Hollow Trail.
In the late 19th century and early 20th century storefronts of Heber's historic downtown, local shops, restaurants, art galleries, and museums line the streets.
Park City and its epic ski resorts are just 20 minutes away, and Salt Lake City, the Cottonwood Canyons, and the SLC International Airport are 45 minutes away.
Popular neighborhoods in Heber City include Deer Mountain, an upscale community on the northern side of Heber. It offers stunning views of the Jordanelle Reservoir and the surrounding mountains and features a mix of single-family homes and vacation properties.
Currently the median listing home price in Heber, Utah is $1.2M, trending up 25.2% year-over-year. The median listing home price per square foot is $383 and the median home sold price is $638.3K. On average, homes in this area sell after 106 days on the market.
As the primary access point to the Uinta-Wasatch-Cache National Forest and the High Uintas Wilderness Area, Kamas is known as "The Gateway" to the Uintas.
Additionally, the Mirror Lake Scenic Byway is a popular route that starts in Kamas and extends into the Uinta Mountains. This scenic highway leads to numerous trailheads, alpine lakes, and campgrounds.
This area has retained its small-town charm and is one of the best areas to buy a second home around Park City for those looking for a quieter, rural lifestyle but still want to be near urban amenities.
Proximity to outdoor recreation is a top reason second home buyers seek out areas around Park City, and skiers and snowboarders will appreciate being 20 minutes away from Park City Mountain Resort and Deer Valley Resort for some of the best terrain in the state.
The Provo River and its tributaries flow through the Kamas area, making it a popular spot for fishing and fly-fishing as well.
One of the esteemed neighborhoods in the area includes High Star Ranch, the planned community in Kamas East that is designed to offer its residents a variety of recreation opportunities like an extensive trail system for mountain biking, horseback riding, and cross-country skiing. It also has equestrian facilities, including a barn and pastures.
Within the ranch is the DeJoria Center, a cultural and entertainment hub that hosts concerts, events, and weddings, and has a restaurant, outdoor amphitheater, and retreat facility. There is a mix of full-time residents as well as second-home owners at High Star Ranch.
Wild Willow is another appealing neighborhood that primarily consists of single-family homes with spacious lots and mountain-inspired architecture.
The median listing home price in Kamas is currently $1.3M, flat year-over-year. The median listing home price per square foot is $504 and the median home sold price is $760K. On average, homes in this area sell after 90 days on the market.
The town's architecture and Swiss-themed ambiance is a defining feature for Midway. Located between Park City and Heber City, residents enjoy the amenities for both areas with relative ease as it is just 20 minutes from Park City and 5 minutes to Heber City.
The Homestead Resort is a popular destination, famous for the Homestead Crater. Visitors can swim or scuba dive in the warm, mineral-rich waters of the crater that reach depths of 70 feet. It's a unique geothermal spring enclosed within a natural limestone cave.
The nearby Soldier Hollow Nordic Center offers excellent cross-country skiing and snowshoeing in the winter months, while the Soldier Hollow Golf Course and several other courses provide many scenic and challenging options in the summer time.
Midway is the central point and hub for exploring the broader Heber Valley region and second home owners are drawn to the area for its access to the nearby state parks, national forests and canyons, as well as all of the trails, rivers, and resorts in the region.
Swiss Days is a beloved annual festival that celebrates the town's Swiss heritage with parades, music, and delicious food. It takes over the main streets of Midway's charming downtown in the late summer and draws visitors from all over the state.
There is a diverse range of real estate options that cater to buyers in the area with land, townhomes, condos, and single-family homes. Valais, a Swiss Colonies-inspired luxury community just two miles north of the downtown center, provides residents with green spaces, walking trails, parks, and a clubhouse.
Dutch Fields is widely considered one of the most prestigious planned communities in Midway, featuring 170 luxury single-family homes over an expansive 125 acres that interweave trails, green space and two swimming pools.
The median listing home price in Midway, Utah is currently $1.1M, trending down -11.9% year-over-year. The median listing home price per square foot is $392 and the median home sold price is $855.8K. On average, homes in this area sell after 98 days on the market.
For a lifestyle that combines mountain living with easy access to urban amenities, Jeremy Ranch is one of the best areas to buy a second home around Park City. Situated in upper East Canyon of the Wasatch Mountains, you're close to the heart of Park City and only 15 miles from downtown Salt Lake City.
World-class skiing at Park City Mountain Resort and Deer Valley Resort is a 10 minute drive away and in the summer, residents can enjoy hiking, biking, and water sports at the nearby trails, canyons, and reservoirs.
The Jeremy Ranch Golf & Country Club is a prominent feature in the area and offers a challenging private 18-hole golf course, the only Arnold Palmer signature course in Utah. Other amenities include, tennis, swimming, dining options at the clubhouse, and a Nordic track each winter season.
There are single-family homes, townhomes, and condos in this community, with many homes taking advantage of the stunning mountain and valley views. The median listing home price in this area is currently $1.7M.
If you're searching for a location that has an abundance of natural beauty, all of the luxury amenities, and a vibrant cultural scene, Park City takes care of you. It's a lively, active area to buy a second home in, and the surrounding mountains, valley, alpine lakes, and rivers will leave you inspired.
Whether you visit here sporadically or often, there will always be more to explore in the canyons, state parks, and national forests that envelop this upscale mountain town.
As close as you are to world-class ski resorts and Park City's natural playgrounds, you're equally as close to historic main streets, incredible restaurants, shops, galleries, and festivals.
Park City's real estate market has historically shown strong appreciation, making it an attractive investment opportunity for those looking to build equity in a second home, and some second home owners choose to rent out their properties when not in use, generating additional income.
As experts in our field, our team of real estate agents can help you navigate the best areas to buy a second home around Park City and the Northern Utah luxury real estate market.
Interested in other areas in Utah outside of Park City? Explore the best areas to buy a second home around Salt Lake City and the best areas to buy a second home around Eden.