December 2016 Park City Real Estate Market Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for November 2016. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Greater Park City Area – Single Family Homes: Active inventory was down 7% from 2015 with 736 units on the market and down 11% from the previous month. The median listing price was $1,430,000. The average days on market was down 19% from 126 days in 2015 to 102 days in 2016. The median sales price was $675,000. The averages for units sold in the month of November increased 10% for units sold during November year over year and decreased 28% decrease month over month with a total of 85 units sold.

Greater Park City Area – Condominiums: Active inventory was down 12% from 2015 with 421 units on the market and down 2% from the previous month. The median listing price was just $1,000,000. The average days on market was up 14% from 80 days in 2015 to 91 days in 2016. The median sales price was just over $420,000. The averages for the month of November show a increase of 7% for units sold year over year and down 35% over the previous month with a total of 78 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.parkcitymarketupdate.com