Park City’s single-family home market continues to show its unique blend of low inventory, high demand, and strong luxury-driven pricing. As we look at the shift from October to November — and compare the numbers year-over-year — a few key patterns stand out for both buyers and sellers.
Below is a breakdown of what changed, what stayed strong, and what it means for you.
Inventory Continues to Tighten
November: 174 homes available (-19.1% YOY)
October: 192 homes available (-17.6% YOY)
Inventory dropped again in November, both month-to-month and year-over-year. With fewer homes on the market heading into winter, buyers have less selection — which often supports higher prices. For sellers, this means well-presented homes are entering a less competitive landscape.
Sales Slowed Slightly, but Demand Is Still Present
November: 34 properties sold (-5.6% YOY)
October: 50 properties sold (-10.7% YOY)
Sales volume declined in both months, although November’s dip was more moderate. This softer pace is typical for late fall as buyers shift into holiday mode — but the year-over-year decline shows lingering rate sensitivity as well.
Even with fewer closings, the strength of high-end purchases kept the market moving.
Luxury Sales Drove Total Volume Higher in November
November Volume: $121.6M (+14.6% YOY)
October Volume: $153.3M (-18.3% YOY)
Despite fewer overall transactions in November, total volume jumped significantly year-over-year. This indicates that the homes selling right now skew toward the higher end of the market — a common trend in Park City’s winter season as luxury buyers prepare for ski months.
Homes Sold Faster in November
November DOM: 66 days (-48% YOY)
October DOM: 86 days (+11.7% YOY)
Homes moved much faster in November compared to last year. This is one of the strongest indicators of sustained buyer demand. Even with higher interest rates, well-priced and well-located properties aren’t sitting long.
Average Sales Price Surges
November ASP: $4,379,320 (+48.6% YOY)
October ASP: $3,709,046 (+2.6% YOY)
The most eye-catching difference is November’s average sales price — nearly $4.4M — a massive jump year-over-year. This reinforces the shift toward high-value transactions and the continued strength of Park City’s luxury segment.
October’s more modest ASP increase shows a more balanced mix of price points earlier in fall.
What This Means for Buyers
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Inventory is shrinking, making it important to act quickly when the right home appears.
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Luxury properties are driving the market, which may tighten competition in top-tier neighborhoods.
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Faster days on market suggest waiting may not lead to better deals.
Tip: With prices trending upward, buying sooner could help you secure more favorable pricing — even if you plan to refinance later.
What This Means for Sellers
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Low inventory continues to work in your favor.
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November’s significant bump in average sales price shows strong opportunities in the luxury tier.
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Homes are selling faster, meaning well-priced listings can stand out immediately.
Tip: Winter is no longer a “slow season” in Park City — ski season demand can create ideal timing for high-end homes.
Thinking About Buying or Selling in Park City?
Market conditions are shifting quickly, especially in a destination luxury market like Park City. If you’d like a deeper breakdown of your neighborhood or property type, reach out anytime for a personalized analysis.
