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 23% from 2016 with 667 units on the market and down 10% from the previous month. The median listing price was $1,690,000. The average days on market was down 25% from 101 days in 2016 to 76 days in 2017. The median sales price was $627,500. The averages for units sold in the month of November increased 5% for units sold year over year and decreased 19% month over month with a total of 96 units sold.

Greater Park City Area – Condominiums: Active inventory was down 19% from 2016 with 389 units on the market and up 3% from the previous month. The median listing price was $950,000. The average days on market was up 26% from 90 days in 2016 to 113 days in 2017. The median sales price was just over $525,000. The averages for the month of November show a decrease of 6% for units sold year over year and an decrease of 36% over the previous month with a total of 61 units sold.

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