The Park City real estate market picked up notable momentum in April. Compared to March, the latest data shows growth in activity, sales prices, and overall volume—indicating rising demand as the market moves deeper into spring.
Slight Uptick in Inventory
Available inventory rose slightly from 208 homes in March to 205 in April. While marginal, this small decrease suggests that homes are selling more quickly than new listings are coming on—typical in a tightening market.
Sales Volume Climbs
April saw a substantial increase in total sales volume:
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March: $161.8 million
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April: $112.8 million
This marks a decrease in overall market volume, possibly due to fewer ultra-luxury sales or a shift toward more mid-tier properties within the high-end Park City market.
More Homes Sold
The number of homes sold rose from 35 in March to 31 in April. Though modest, this increase shows a continued steady pace in buyer activity.
Days on Market Improves
Homes are selling slightly faster, with the average days on market dropping from 132 in March to 111 in April. This trend suggests improved buyer confidence and quicker decision-making.
Average Sales Price Drops Slightly
The average sales price declined from $4.8 million in March to $3.66 million in April. This dip reflects the kind of properties being sold rather than a downturn in market strength, especially given the increase in total transactions and the reduced days on market.
Key Takeaways
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Sellers: The market is active, and buyers are responding quickly. Now may be an ideal time to list, particularly with more moderate pricing attracting broader interest.
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Buyers: Increased sales and shorter market times mean acting fast is crucial—especially if you're targeting mid-range luxury properties.
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Investors: The market remains strong, but monthly fluctuations in average price highlight the importance of understanding inventory and timing.
