Park City Market Update

Welcome to May’s Market Update.

Let’s take a look at residential real estate activity in the Park City UT during the month of May. The number of active listings was down 9% from 1 year earlier, and up 7% from the previous month. This recent increase reflected a larger selection of homes for buyer to choose from.

As you can see, the median listing price for the month was just under 1.25 million dollars. Compared to last year the average number of days that units spent on the market before being sold was down 23%. This lower number of days may signal a positive trend in the local inventory turn over rate. The median sale price was just under 690,000 dollars. The number of units sold increased 4% year over year and decreased 8% month over month. Higher year over year figures indict that more buyers have been finding what they’re looking for.

Thanks for watching. We hope you use this information to make smart informed decisions in your up coming real estate transactions.