Welcome to March’s Park City Market Update.
Let’s take a look at residential real estate activity in Park City UT during the month of February. The number of active listings was down 11% from 1 year earlier, and did not change from the previous month. This smaller inventory means that buyers who waited to buy may have a smaller selection to choose from.
As you can see, the median listing price for the month was just under 1.5 million dollars. Compared to last year the average number of days that units spent on the market before being sold was up 20%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 900,000 dollars. The number of units sold increased 13% year over year and increased 8% month over month. These figures may indicate that buyers have been taking advantage of opportunities in this market.
Thanks for watching. We hope you use this information to make smart informed decisions in your up coming real estate transactions.