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 21% from 2017 with 572 units on the market and down 5% from the previous month. The median listing price was $2.01 million. The average days on market was down 26% from 148 days in 2017 to 109 days in 2018. The median sales price was $850,000. The averages for units sold in the month of February increased 9% for units sold year over year and held steady month over month with a total of 73 units sold.

Greater Park City Area – Condominiums: Active inventory was down 14% from 2017 with 427 units on the market and down 3% from the previous month. The median listing price was just over $950,00. The average days on market was down 27% from 107 days in 2017 to 78 days in 2018. The median sales price was just under $690,000. The averages for the month of February show a decrease of 19% for units sold year over year and increased 41%, month over month with a total of 58 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