Park City Condos Are Cooling. Canyons Village Condos Just Jumped 50%.

If you have been following my market updates this year, you already know the headline on Park City condos: the segment has been cooling while single-family homes and land carried the market. That is still true at the top line. But when I dug into the Q2 2026 numbers from the Park City Board of REALTORS, one submarket went completely the other way, and it happens to be the one most relocation and second home buyers ask me about first.

Canyons Village posted 28 condo sales in Q2 2026 generating $68.5 million in volume, up 62% year over year. The average Canyons Village condo sold for $2.45 million, up 50% from a year earlier. That is not a rounding error inside a cooling market. That is a submarket running its own race, and there is a specific reason why.

What Actually Happened to Park City Condo Sales in Q2 2026

Across the full MLS area, condominiums logged 203 transactions at $335.4 million in Q2 2026, compared to 208 transactions at $342.1 million in Q2 2025. Inside the Primary Market Area covering Summit and Wasatch counties, condo sales came in at 189 units and $320 million, down 6% in units and 5% in volume.

Flat is the operative word. After a rough Q1, the condo market did not keep falling. The rolling 12 month picture is where the pain still shows up: 847 condo sales at $1.468 billion for the year ending June 30, 2026, against 985 sales at $1.575 billion a year earlier. That is down 14% in units and 7% in volume.

Here is the part most people get wrong. That decline is mostly a supply story, not a demand story. The extraordinary wave of Founders Place and Jordanelle Ridge new construction closings that ran through 2024 and 2025 is largely finished. When that pipeline empties, the year over year comparisons look brutal for several more quarters even if buyers never went anywhere. The Board flagged exactly that in its Q2 report.

Meanwhile the total Park City market, all three property types combined, generated $1.358 billion in Q2 2026 on 669 transactions. That is up 7% in volume and 10% in units. The market is not shrinking. It is reshuffling.

Why Canyons Village Went the Other Direction

Canyons Village is the base village on the Canyons side of Park City Mountain, off Highway 224 near Kimball Junction. It sits inside Snyderville Basin for MLS reporting purposes, which matters, because Snyderville Basin was the condo bright spot of the quarter: 58 condo sales generating $100.1 million, a 33% volume increase on nearly flat unit count. Canyons Village drove almost all of it.

The reason is product. Canyons Village is where Park City stacked its branded and ski accessible residential inventory. You have branded hotel residences at Pendry Park City, Waldorf Astoria, and Hyatt Centric, newer non-branded luxury at Apex Residences, Lift, and Viridian, and the older established resort condos at Sundial Lodge, Silverado, and Westgate. When higher priced inventory clears in a village like that, the average sale price moves hard and fast.

And it did. A 50% jump in average sale price to $2.45 million, on 28 closings, is a real sample, not one outlier trade distorting a thin quarter. Compare that to Canyons Village single-family, where exactly one home sold at $13.8 million in the quarter. That number I would not build a thesis on. The condo number I would.

What a Park City Condo Actually Costs Right Now, By Area

Here are the Q2 2026 median condo prices by area, straight from the Board report. This is the chart I pull up on almost every buyer call.

Park City proper, Areas 1 through 9: $2,325,000 median on 47 sales, down 11% in units.
Snyderville Basin, Areas 10 through 23, which includes Canyons Village: $1,130,000 median on 58 sales.
Jordanelle, Areas 24 through 29: $1,239,000 median on 64 sales, up 19% in units.
Heber Valley, Areas 30 through 47: $450,000 median on 12 sales.
Kamas Valley, Areas 50 through 53: $485,000 median on 8 sales.
Primary Market Area overall: $1,167,000 median on 189 sales.

Notice the gap between the Snyderville Basin median of $1.13 million and the Canyons Village average of $2.45 million. The Basin median is pulled down by everything from Kimball Junction and Prospector adjacent product to older Silver Springs and Sun Peak inventory. Canyons Village sits at the premium end of that same reporting area. If you are shopping by area code instead of by village, you will badly misjudge your budget.

Where Park City Condos Actually Got Weaker

Park City Limits is the one that surprises people. Only 47 condo transactions closed in Q2, down 11%. Deer Crest had a single condo sale in the quarter versus five a year ago, and its rolling 12 month total of 24 sales is down 33% from 36.

But look at price before you call that weakness. The rolling 12 month median condo price inside Park City Limits rose 24% year over year to $2.3 million. Less is selling. What sells commands more. That is a scarcity market, not a distressed one, and it is a meaningfully different problem for a buyer than for a seller.

Heber Valley is the genuine soft spot. Condo activity there fell to 12 sales at $7.8 million, down 64% in units and 62% in volume. A big chunk traces to Heber North, which logged 25 condo sales in Q2 2025 and zero in Q2 2026. The trailing 12 month count is 66 versus 129, down 49%. The Board itself flagged this as the quarter anomaly that deserves the closest attention, noting it could be genuine buyer hesitation at the affordable end or simply a supply timing issue with new projects not yet delivering. I am watching it, and I would not pretend to know which it is yet.

Why Mayflower and Jordanelle Medians Are Falling Without the Market Falling

Jordanelle condos posted 64 sales in Q2, up 19%, with volume up 7% to $88.6 million. Inside that, Mayflower-Jordanelle logged 27 condo sales versus 13 a year ago, a 108% jump in units. Volume only rose 39%, and the median fell 47% to $1.35 million.

Read that carefully, because it is the single most misquoted number in our market right now. A median that drops 47% while unit sales double is not a price collapse. It is new, more affordable inventory entering the area and changing what the typical sale looks like. Same pattern showed up in Deer Mountain in Q1. If you owned a Mayflower condo in 2025 and someone tells you your value fell by half, ask them to show you paired sales, not a median.

Hideout tells a cleaner story. Q2 was quieter at 15 sales versus 21, but the trailing 12 months produced 80 sales at $127.5 million, up 16% in units and 19% in volume, with the 12 month median up 12% to $1.68 million.

What This Means If You Are Buying a Park City Condo

Three things I would actually do with this data.

First, stop shopping the word condo and start shopping the village. A $450,000 Heber Valley condo and a $2.45 million Canyons Village condo are both in the same quarterly report and have almost nothing in common in terms of use, rental income, HOA structure, or appreciation drivers.

Second, if ski access is the priority and you were waiting for Canyons Village to soften along with the rest of the condo market, that is not what the data shows happening. It went up 50% in average price while the broader segment went flat.

Third, if your priority is value and you can live a few minutes further out, Jordanelle at a $1,239,000 median and Hideout at a $1.68 million rolling median are where the transaction volume is actually growing. Tradeoff is honest: you are trading immediate ski village access for price and, in the newer developments, for construction that is still filling in around you.

What This Means If You Are Selling One

The Board made one point in the Q2 report that I would tape to the wall of every condo seller in Summit County: buyers continue to pay a meaningful premium for new construction, and that trend is not reversing. If you own an older unit, you are not competing against last year comps. You are competing against a turnkey, fully furnished, freshly delivered unit down the road.

Condition, presentation, and accurate pricing carry more weight in this market than they did two years ago. Inside Park City Limits, where the rolling 12 month median is up 24%, a well prepared unit has real pricing power. Inside Heber Valley right now, it does not, and pricing as if it does will cost you the fall selling window.

Are Park City Condo Prices Going Down in 2026?

Not broadly. Condo transaction counts are down, but prices are holding or rising in most areas. The rolling 12 month median condo price inside Park City Limits is up 24% to $2.3 million, and Canyons Village average sale price is up 50% to $2.45 million. The falling medians you see in places like Mayflower-Jordanelle reflect cheaper new inventory entering the mix, not existing owners losing half their value.

Why Are There Fewer Park City Condo Sales Than Last Year?

Supply, mostly. The Founders Place and Jordanelle Ridge new construction closings that inflated 2024 and 2025 totals are largely complete. With that pipeline finished, year over year comparisons will look weak for several more quarters until the base normalizes. Rolling 12 month condo units are down 14% while the total Park City market is up 9% in volume.

Is Canyons Village a Good Place to Buy a Ski Condo?

It is the most liquid ski accessible condo submarket in Park City right now, with 28 sales and $68.5 million in volume in a single quarter. That liquidity is worth something when you eventually sell. The honest tradeoff is entry price. At a $2.45 million average, you are paying a clear premium over Jordanelle or Hideout for village access and brand infrastructure.

Where Are the Most Affordable Condos Near Park City?

By Q2 2026 median, Heber Valley at $450,000 and Kamas Valley at $485,000 are the lowest entry points in the Board reporting area, followed by Snyderville Basin at $1,130,000 and Jordanelle at $1,239,000. Both Heber and Kamas involve a real commute to the resorts and, in Heber condos specifically, a market that just posted a very soft quarter. Worth a longer conversation before you write an offer.

The Bottom Line on Park City Condos Heading Into Ski Season

The cooling condo headline is real, and it is also incomplete. Underneath it, Canyons Village is running 50% hotter on price, Park City Limits is scarce and expensive, Jordanelle is growing on volume, and Heber Valley is the one genuine question mark. Averages hide all of that. Villages do not.

All figures in this post come from the Park City Board of REALTORS Q2 2026 Quarterly Market Summary, for the period ending June 30, 2026. The Board notes its data is preliminary and subject to revision as late reporting transactions are recorded.

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