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 19% from 2017 with 603 units on the market and held steady from the previous month. The median listing price was just under $1.9 million. The average days on market was down 22% from 105 days in 2017 to 82 days in 2018. The median sales price was $740,000. The averages for units sold in the month of March decreased 17% for units sold year over year and decreased 3% month over month with a total of 71 units sold.
Greater Park City Area – Condominiums: Active inventory was down 14% from 2017 with 438 units on the market and down 3% from the previous month. The median listing price was just $900,000. The average days on market was down 27% from 92 days in 2017 to 70 days in 2018. The median sales price was $680,000. The averages for the month of March show a decrease of 17% for units sold year over year and increased 22%, month over month with a total of 71 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