Ski town real estate continues to be a major draw for affluent buyers, with U.S. resort markets proving resilient despite economic shifts. According to reports from Engel & Völkers and Sotheby’s International Realty, luxury ski properties remain in high demand, with prices rising even as overall sales volumes have dipped.
In 2024, prime ski destinations such as Vail, Colorado; Park City, Utah; Big Sky, Montana; and Sun Valley, Idahosaw notable price increases. In Vail, home prices rose by an average of 5% year-over-year, with ultra-luxury listings reaching $8,800 per square foot. Sotheby’s data further highlighted that ski communities in Telluride, Aspen, Jackson Hole, and Whitefish experienced some of the largest jumps in average sale prices, with increases of up to 12.42%.
Limited Inventory Driving Prices Higher
A key factor supporting strong pricing in ski resort communities is limited inventory. Many ski areas are privately owned or situated on U.S. Forest Service land, making new development challenging and keeping supply low.
This scarcity is a primary driver of price stability, with markets such as Vail & Beaver Creek seeing a record 9.4% year-over-year increase—the highest in the region’s history. Other ski towns like Steamboat Springs, Crested Butte, and North Lake Tahoe also reported steady appreciation, despite fewer transactions compared to previous years.
“Despite a 25% drop in transactions compared to pre-pandemic levels, dollar volume in Vail continues to hit record highs,” said Alex Griffin, Vice President and Managing Broker at LIV Sotheby’s International Realty, Vail Valley.
The report found that 12 out of 17 profiled ski resort communities saw an increase in price per square foot, with an average rise of 4.5%. Markets like Telluride, Aspen, and Jackson Hole witnessed double-digit growth in top sale prices, underscoring strong demand for elite ski properties.
Buyers Seek More Than Just Skiing
While proximity to world-class slopes remains a key draw, today’s buyers are increasingly prioritizing four-season lifestyle appeal. Many are seeking properties that provide access to activities like hiking, fly-fishing, golf, and fine dining.
“Ski-home buyers are seeking a year-round retreat,” said Paul Benson of Engel & Völkers Park City. “They want a home that offers access to a variety of outdoor activities and a community that fits their lifestyle.”
This trend is evident in emerging resort hubs like Whitefish, Montana, where new airport expansions are making access easier, and Sandpoint, Idaho, where Alterra Mountain Company’s acquisition of Schweitzer Mountain Resort is signaling further investment in the region.
Additionally, events like Deer Valley’s expansion and Utah’s bid for the 2034 Winter Olympics are fueling real estate activity, particularly in Park City and Snowmass Village.
Who’s Buying? A High-Net-Worth, Domestic Market
The luxury ski home market is largely driven by wealthy domestic buyers, with 99% of Vail homebuyers being U.S.-based and many already residing in Colorado, Utah, Montana, or Wyoming.
The typical buyer profile includes individuals in their mid-40s to mid-60s, working in the finance or tech industries, with an annual income of at least $500,000.
Several factors are fueling demand for U.S. ski properties:
- Geopolitical uncertainty and foreign investment restrictions in countries like Canada and Switzerland have made U.S. resort markets more attractive.
- Many ski towns offer exclusive amenities, including private clubs, five-star dining, and curated experiencesthat appeal to high-net-worth individuals.
- Infrastructure improvements in resort towns like Big Sky and Jackson Hole are enhancing accessibility and desirability.
Outlook for 2025: Competitive Yet Balanced
Looking ahead, real estate experts predict a more balanced market in 2025, though competition for prime properties will remain fierce. With inventory still constrained and demand holding strong, prices are expected to continue their upward trend.
“For many buyers, it’s no longer just about skiing or snowboarding—it’s about the full lifestyle experience that begins when they step off the slopes,” Benson said.
With ongoing investments in resort infrastructure, increased accessibility, and high buyer interest, the U.S. ski home market is poised to remain one of the most desirable luxury real estate segments.
