Welcome to the Park City Real Estate Market Update April 2017.
Park City Area Overview
In the Park City real estate market, conditions continue to favor both buyers and sellers, even as fewer houses become available compared to this time last year. April 2017 found an increase in the number of active listings for single-family homes, according to information from Park City MLS.
The 78 new listings in April 2017 represented an 11 percent increase over April 2016. Active listings increased 3 percent to 422 over the same period. Actual sales of single-family homes also increased over the same period. The Park City MLS reports that in April 2017, a total of 50 single homes were sold in the Park City area. This represents an 11 percent increase over sales in April 2016.
Prices in the Park City real estate market continued to climb during that year-long period. Average home prices rose 3 percent during that period to $1,851,819. The dollar volume of sales during the year increased 7 percent. In total, $86,926,050 worth of homes were sold in April 2017.
Homes spend an average of 186 days on the market in Park City Area, which is an increase from April 2016. Generally, high prices, limited availability, and slow sales of those homes that come up for sale make the Park City real estate market a favorable environment for both.
Team Schlopy Real Estate provides expert real estate services to residential buyers and sellers in Park City and surrounding communities. Contact us today for more information on Park City real estate and for professional assistance navigating this sometimes complex home market.
We have provided Infographics for ease to view what is happening in the Park City Market.