As the seasons change, so does the Park City single-family home market. Comparing the December property market update with the November statistics highlights notable shifts in activity, prices, and market trends. This analysis provides valuable insight for buyers, sellers, and industry professionals to understand how the market is evolving as we transition into a new year.
Key Differences
-
Properties Sold
-
December: 42 properties sold
-
November: 36 properties sold (down 35.71% from October 2024)
Despite the seasonal slump in November, December saw an uptick in sales volume, with 42 properties changing hands, indicating increased market activity as the year ended.
-
-
Average Sales Price
-
December: $3,405,925
-
November: $2,947,501 (a 13.59% drop from October 2024)
The average sales price in December surged compared to November, showcasing a renewed demand for higher-value properties as the market regained strength.
-
-
Average Days on Market
-
December: 87 days
-
November: 127 days (a 64.94% increase from October 2024)
Homes in December sold more quickly than in November, with average days on the market decreasing by a significant margin. This shift could signal a more competitive environment as buyers became more active during the holiday season.
-
-
Market Volume
-
December: $136,793,259 total volume
December's total market volume underscores the strong end to the year, reflecting both increased sales and higher average prices.
-
Conclusion: A Promising End to the Year
The comparison between November and December reveals a notable recovery in the Park City real estate market. With higher sales, quicker turnaround times, and a boost in average prices, December shows positive momentum after a quieter November. These trends indicate that buyers and sellers closed out 2024 with renewed confidence, setting the stage for an exciting start to the new year. Whether you're looking to make a move or simply stay informed, it's clear that now is a great time to keep an eye on this thriving market. Contact me with any questions or to discuss your next steps in regards to real estate!
