P A R K CI T Y UTAH –September 2019–
www.LuxuryHomeMarketing.com
PARK CITY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | AUGUST 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $7,000,000+ $6,200,000 - $6,999,999
31
0 18
0
$5,400,000 - $6,199,999 $4,700,000 - $5,399,999
$4,100,000 - $4,699,999
0
26
16
0 15
2
25
1 19
5
30
3
$1,800,000 - $2,099,999
39
5
$1,700,000 - $1,799,999
1
Total Sales Ratio2: 9%
1
$2,100,000 - $2,399,999
$1,500,000 - $1,599,999
Buyer's Market
16
$2,400,000 - $2,699,999
$1,600,000 - $1,699,999
Total Sales: 27 23
0
$3,100,000 - $3,299,999
$2,700,000 - $3,099,999
19
2
$3,500,000 - $4,099,999 $3,300,000 - $3,499,999
Total Inventory: 309
16
4 7
1
9
3
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,581,500
4
4
4
27
15%
3,000 - 4,999
$2,075,000
4
4
9
73
12%
5,000 - 6,999
$2,200,000
5
6
11
108
10%
7,000 - 8,999
$3,525,000
5
7
1
56
2%
9,000 - 10,999
NA
NA
NA
0
26
0%
11,000+
$5,474,750
7
9
2
19
11%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
PARK CITY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
Inventory
Solds
$3,000,000 $2,375,000
$2,280,000
$2,105,250
$2,564,500
$2,562,500 $2,300,000
$2,279,474
$2,475,000
$2,500,000
$2,487,500 $2,150,000 $1,765,000
281
265
263
27
18
Aug-18
Sep-18
274
255
30 Oct-18
265
260
21
15
Nov-18
Dec-18
18 Jan-19
245
20
18
28
25
Feb-19
Mar-19
Apr-19
May-19
309
306
285
246
233
Jun-19
27
24
17
Jul-19
Aug-19
MEDIAN DATA INVENTORY July
SOLDS
August
July
309 VARIANCE: 1 %
24
306
SALE PRICE PER SQFT. July
August
537
$
467 VARIANCE: -13 %
$
SALES PRICE August
27 VARIANCE: 13 % SALE TO LIST PRICE RATIO July
August
95.25% 94.44% VARIANCE: -1 %
July
2.49m
$
August
2.15m VARIANCE: -14 % $
DAYS ON MARKET July
44
69 VARIANCE: 57 %
PARK CITY MARKET SUMMARY | AUGUST 2019 • The Park City single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 94.44% of list price in August 2019. • The most active price band is $1,500,000-$1,599,999, where the sales ratio is 33%. • The median luxury sales price for single-family homes has decreased to $2,150,000. • The median days on market for August 2019 was 69 days, up from 44 in July 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
August
PARK CITY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | AUGUST 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $4,600,000+ $4,200,000 - $4,599,999 $3,800,000 - $4,199,999 $3,400,000 - $3,799,999
$3,100,000 - $3,399,999
12
0 8
0
7
0
Total Sales Ratio2: 14%
9
4
6
14
1 13
0
$1,900,000 - $2,199,999
16
1
$1,700,000 - $1,899,999
18
1
$1,500,000 - $1,699,999
21
4
$1,400,000 - $1,499,999
10
6
$1,300,000 - $1,399,999
6
1
13
0
$1,100,000 - $1,199,999
1
Buyer's Market
12
0
$2,500,000 - $2,799,999
$1,200,000 - $1,299,999
Total Sales: 24
0
$2,800,000 - $3,099,999
$2,200,000 - $2,499,999
Total Inventory: 173
8
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 999
NA
NA
NA
0
0
NA
1,000 - 1,999
$1,175,000
3
3
4
44
9%
2,000 - 2,999
$1,445,000
4
4
10
80
13%
3,000 - 3,999
$1,772,500
4
5
10
37
27%
4,000 - 4,999
NA
NA
NA
0
7
0%
5,000+
NA
NA
NA
0
5
0%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
PARK CITY
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
Inventory $2,150,000
$2,025,000 $1,700,000
$1,692,500
$1,775,000
$1,665,000
Solds
$2,082,500 $1,775,000
$1,667,500
$1,775,000
$1,362,500
157
$1,445,000
$1,300,000
10
9
Aug-18
Sep-18
20 Oct-18
229
191
181
173
159
151
7
10
Nov-18
Dec-18
14
Jan-19
205
181
187
177
175
17
10
18
11
5
Feb-19
Mar-19
Apr-19
May-19
Jun-19
173
24
11 Jul-19
Aug-19
MEDIAN DATA INVENTORY July
August
175
SOLDS July
SALES PRICE August
173 VARIANCE: -1 %
24 VARIANCE: 118 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
July
August
753
$
620 VARIANCE: -18 %
$
11
July
August
96.30% 96.93% VARIANCE: 1 %
July
1.78m
$
August
1.45m VARIANCE: -19 % $
DAYS ON MARKET July
32
86 VARIANCE: 169 %
PARK CITY MARKET SUMMARY | AUGUST 2019 • The Park City attached luxury market is a Buyer's Market with a 14% Sales Ratio. • Homes sold for a median of 96.93% of list price in August 2019. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 75%. • The median luxury sales price for attached homes has decreased to $1,445,000. • The median days on market for August 2019 was 86 days, up from 32 in July 2019.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
August