The Sundance Film Festival's upcoming relocation to Boulder in 2027 has already sparked major conversation throughout the community. Our team has been receiving questions from clients about what this means for property values, short-term rentals, and the overall investment landscape. Let’s take a closer look at what we might expect and what it could mean for your next real estate move.
What Happened to Park City's Real Estate Market?
Before we dive into Boulder, it’s helpful to look at how Sundance shaped the real estate market in Park City, Utah.
Over the last 40+ years, the festival played a key role in transforming Park City from a small ski town into a high-demand cultural destination—and that transformation came with notable changes to the housing market:
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Short-term rental income soared. During the 10-day festival, property owners regularly earned 3-5x their typical nightly rates. Some homeowners reported covering an entire year’s worth of mortgage payments through Sundance rentals alone.
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Home values surged. The prestige and consistent demand created by Sundance attracted second-home buyers and real estate investors, pushing Park City’s median home price well over $1 million.
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Inventory tightened. With many buyers purchasing properties near festival venues, housing supply became increasingly scarce—especially in central areas. This drove prices even higher and made festival-season rentals increasingly competitive.
In 2024, Sundance brought over 72,000 in-person attendees and generated more than $132 million in economic impact for Utah (AP News). These ripple effects were felt directly in Park City’s housing market, particularly in its most walkable and centrally located neighborhoods.
What Might This Mean for Boulder?
Boulder is not a resort town. We aren’t nestled next to a ski mountain like Park City—Eldora is a 35-minute drive from downtown, and major resorts like Vail and Breckenridge are roughly 2 hours (on a good day). But Sundance's arrival still has the potential to influence our market in meaningful ways, especially in neighborhoods where festival-related activity is likely to be concentrated.
Neighborhoods to Watch
Based on where venues and visitor activity are likely to be centralized, here are some areas that may experience elevated demand:
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Downtown Boulder – The Pearl Street Mall corridor is Boulder’s cultural and commercial heart. Homes in close proximity of shops, restaurants, and event venues could become especially attractive for both homeowners and renters during the festival.
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University Hill – Adjacent to the CU Boulder campus, this area is full of music venues, cafés, and student housing. With CU likely to host screenings and panels (think: Mackey Auditorium), homes in this area may see more short-term rental interest.
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Chautauqua – Known for its historic cottages and stunning foothill access, this neighborhood is popular with cultural travelers and could appeal to festival-goers looking for a scenic retreat.
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Whittier – Just northeast of downtown, Whittier offers historic charm, walkability, and a quieter residential feel—all within close proximity to likely festival hubs.
What About Short-Term Rentals?
This is where Boulder’s policies create a different landscape than Park City. Under current regulations, short-term rentals (under 30 days) are only allowed in owner-occupied homes — and the owner must have a valid short-term rental license (more information here). This limits the ability of investors to buy properties solely for Airbnb use. That said, for licensed, owner-occupied homes:
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Sundance could present an opportunity to earn significantly more than typical nightly rates. In Park City, rates during the festival often triple. We may see a similar spike in Boulder, especially in walkable neighborhoods near downtown and CU.
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We’ve seen this kind of demand locally. During the 2023 CU football season, the “Coach Prime effect” led to a $631,000 increase in accommodations tax revenue in just one month (source) — reflecting surging demand for hotels and short-term rentals during high-profile game weekends. Sundance may bring a similar, if not larger, wave of demand over a longer period.
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Boulder’s current short-term rental inventory is limited. As of late 2024, there were roughly 738 active listings, with an average nightly rate of $199 and an occupancy rate of 73% (Airbtics). Festival demand could quickly outpace available supply.
If you already own a home in a central area and meet the legal requirements, you may be well-positioned to benefit from the festival — especially during those peak 10 days each January.
Will Property Values Go Up?
Over time, yes—particularly in high-demand areas. While home appreciation in Boulder is not new, this new cultural phenomon can help push property values even higher. If Boulder mirrors Park City’s experience even in part, we can expect:
- Increased buyer interest in walkable, centrally located neighborhoods
- Competitive pricing on homes near downtown and CU Boulder
- Ongoing demand from those attracted to Boulder’s growing national profile
Boulder’s strict short-term rental rules, land-use constraints, and diverse economy will likely temper any runaway speculation. Shifts will not happen overnight, but we are absolutely likely to see a more visible national spotlight and a renewed wave of attention from buyers who value both culture and lifestyle.
What Should You Be Thinking About as a Buyer or Seller?
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If you’re a homeowner in central Boulder, or even outside of central Boulder, consider whether short-term rentals during Sundance could offer supplemental income. You’ll need the right license, but the potential upside could be significant.
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If you’ve already been looking to buy, this could be an opportunity to invest in a primary residence that also offers long-term upside. Focus on the neighborhoods we mentioned, where walkability and festival-related appeal will drive future demand.
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If you’re thinking about selling, you may want to time your sale to coincide with increased visibility and interest leading up to 2027. The coming years may bring new buyers into the market—particularly those drawn to Boulder’s expanding cultural relevance. Depending on your home's location, we can even tailor the marketing message and buyer targeting to focus on people interested in Sundance.
Final Thoughts
Sundance is more than a film festival. It’s a globally recognized cultural institution, and its move to Boulder is a major milestone for our city. While Boulder’s housing market is already strong, this development could add a new layer of demand—especially for prime-located homes. If you're curious how these changes could affect your home, your neighborhood, or your next real estate move, we'd be happy to talk strategy with you.
Ready to make a move now? Explore the homes we currently have on the market — all ideally located to put you in the heart of the upcoming Sundance action.
