The Park City real estate market saw some changes in October compared to September. Available inventory remained relatively steady, while the number of properties sold, total sales volume, and average sales price all decreased.
Compared to October of last year, the market is seeing more available homes and higher average sales prices, but fewer properties are selling and homes are taking longer to reach a buyer. Here's a closer look at the latest numbers and what they mean for buyers and sellers.
What Changed in October?
Inventory Remained Steady
The number of available homes decreased slightly from 240 in September to 236 in October. However, inventory is up 23.6% compared to October of last year.
This means buyers have more properties to choose from than they did a year ago. For sellers, the increase in available homes also means more competition when bringing a property to market.
Fewer Properties Sold
The number of properties sold decreased from 51 in September to 44 in October. Total sales volume also dropped from approximately $215.6 million to $166.3 million.
Compared to October 2025, the number of properties sold is down 15.4%, while total sales volume is actually up 7.4%. This difference is partly explained by the higher average sales price compared to last year.
Homes Are Taking Longer to Sell
Average days on market increased from 94 days in September to 107 days in October. That's a 25.9% increase compared to October of last year.
With properties spending more time on the market, buyers may have more time to explore their options. Sellers should be prepared for longer timelines and understand the importance of pricing their homes appropriately.
Average Sales Prices Remain Higher Than Last Year
The average sales price decreased from $4,361,323 in September to $4,141,092 in October, a 5.1% monthly decline.
Despite this decrease, the October average sales price is still up 14.6% compared to October 2025. This shows that while prices pulled back from September, they remain higher than they were at the same time last year.
As always, average sales prices can fluctuate depending on the types of properties sold each month. Individual home values will vary based on location, property features, condition, and comparable sales.
What Does This Mean for Buyers and Sellers?
For Buyers
With inventory up compared to last year and homes taking longer to sell, buyers have more opportunities to explore the Park City market. There may also be more room to negotiate, depending on the property and its pricing.
Taking time to compare properties and understand the local market can help buyers make a more informed decision, especially in a market where prices and property types can vary significantly.
For Sellers
Park City sellers are navigating a market where properties are taking longer to sell and buyers have more options. Pricing a home appropriately from the beginning, preparing it for showings, and having a strong marketing strategy can help it stand out.
While average sales prices remain higher than last year, sellers should still pay close attention to recent comparable sales and current competition when determining their asking price.
Looking Ahead
October's numbers show a Park City market with more inventory than last year, fewer completed sales, and longer selling timelines. Although average sales prices have pulled back from September, they remain higher than they were in October 2025.
Whether you're considering buying, selling, or simply keeping up with the Park City market, understanding these trends can help you plan ahead. Every property and neighborhood is different, so having a clear picture of what's happening in your specific area is important.
If you have questions about the Park City real estate market or are thinking about making a move, I'd love to help you understand your options.
