This blog breaks down the Park City single-family home market, comparing November to December while also highlighting year-over-year (YOY) changes. The goal is to go beyond the numbers and explain what they mean for buyers, sellers, and anyone watching the Park City market closely.
Inventory: Homes Available
November: 174 homes available (−19.1% YOY)
December: 163 homes available (−21.3% YOY)
Inventory continued to tighten heading into December. Month over month, available homes dropped by 11 listings, reinforcing the ongoing trend of limited supply in Park City’s single-family market.
Insight:
Lower inventory, combined with strong demand for resort and luxury properties, continues to support home values. For buyers, this means fewer options and the importance of being prepared. For sellers, reduced competition creates favorable conditions—especially for well-priced homes.
Closed Sales: Properties Sold
November: 34 properties sold (−5.6% YOY)
December: 40 properties sold (−7.0% YOY)
Despite fewer active listings, sales activity increased in December, with six more homes closing compared to November.
Insight:
While year-over-year sales remain slightly lower, the month-over-month increase suggests motivated buyers were active at year-end. This points to steady underlying demand, even as higher price points and interest rates continue to influence buying decisions.
Sales Volume
November: $121,606,017 (+14.6% YOY)
December: $145,064,942 (+5.0% YOY)
Total dollar volume rose significantly from November to December, increasing by over $23 million.
Insight:
Higher volume indicates that premium-priced properties are still trading, especially toward the end of the year. Although December’s YOY growth rate is more moderate than November’s, the overall volume reflects continued confidence in Park City real estate—particularly in the luxury segment.
Average Days on Market
November: 66 days (−48% YOY)
December: 71 days (−22.8% YOY)
Homes took slightly longer to sell in December, with average days on market increasing by five days compared to November.
Insight:
Even with the modest month-over-month increase, homes are still selling considerably faster than last year. This suggests a balanced dynamic: buyers are taking a bit more time to make decisions, but well-positioned properties continue to move efficiently.
Average Sales Price
November: $4,379,320 (+48.6% YOY)
December: $3,968,811 (+18.2% YOY)
The average sales price declined month over month, dropping by just over $410,000 from November to December.
Insight:
This shift reflects a change in the mix of homes sold rather than a drop in overall values. November included more ultra-luxury transactions, while December saw a slightly broader range of price points. Year over year, prices remain significantly higher, reinforcing Park City’s strong long-term appreciation.
Big Picture: What This Means for Park City Buyers and Sellers
As the market transitioned from November into December, several key themes stood out:
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Inventory remains tight and continues to trend lower
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Buyer demand stayed active through year-end
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Luxury properties continue to drive volume
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Homes are selling faster than last year, despite seasonal slowdowns
For sellers, current conditions remain favorable, particularly for homes that are priced strategically and presented well.
For buyers, preparation and local market insight are critical—especially when inventory is limited and pricing remains competitive.
If you’d like a personalized breakdown of how these trends affect your specific neighborhood, price range, or goals in Park City, a local market strategy can make all the difference.
