Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for March 2016. 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 11% from 2015 with 657 units on the market and down 7% from the previous month. The median listing price was just under $1,500,000. The average days on market was down 32% from 153 days in 2015 to 104 days in 2016. The median sales price was just under $690,000. The averages for units sold in the month of March show a increase of 4% for units sold during March year over year and a 47% increase month over month with a total of 78 units sold.
Greater Park City Area – Condominiums: Active inventory was down 16% from 2015 with 445 units on the market and down 2% from the previous month. The median listing price was just under $950,000. The average days on market was down 47% from 156 days in 2015 to 83 days in 2016. The median sales price was $500,000. The averages for the month of March show a decrease of 49% for units sold year over year and down 30% over the previous month with a total of 43 units sold.
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