January 2017 Greater Park City Real Estate Market Video Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for the previous month. 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 16% from 2015 with 638 units on the market and down 18% from the previous month. The median listing price was $1,590,000. The average days on market was down 5% from 126 days in 2015 to 102 days in 2016. The median sales price was $670,000. The averages for units sold in the month of December decreased 2% for units sold year over year and decreased 2% decrease month over month with a total of 79 units sold.

Greater Park City Area – Condominiums: Active inventory was down 5% from 2015 with 454 units on the market and up 2% from the previous month. The median listing price was just over $1,060,000. The average days on market was down 35% from 111 days in 2015 to 72 days in 2016. The median sales price was just over $535,000. The averages for the month of December show a increase of 29% for units sold year over year and up 35% over the previous month with a total of 88 units sold.

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