P A R K CI T Y UTAH –December 2019–
www.LuxuryHomeMarketing.com
PARK CITY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $7,000,000+ $6,200,000 - $6,999,999 $5,400,000 - $6,199,999 $4,700,000 - $5,399,999
34
0 16
1
14
0
$3,300,000 - $3,499,999
21
12
1 11
2
20
4
$1,800,000 - $2,099,999
1
12
3
$2,100,000 - $2,399,999
$1,500,000 - $1,599,999
18
3
$2,400,000 - $2,699,999
$1,600,000 - $1,699,999
Total Sales Ratio2: 11%
13
1
$2,700,000 - $3,099,999
Buyer's Market
21
3
$3,100,000 - $3,299,999
$1,700,000 - $1,799,999
Total Sales: 27
1
$4,100,000 - $4,699,999 $3,500,000 - $4,099,999
Total Inventory: 238
26
3 6
1
6
1 3
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,500,000
3
3
1
22
5%
3,000 - 4,999
$2,250,000
4
5
11
52
21%
5,000 - 6,999
$2,725,125
5
6
12
80
15%
7,000 - 8,999
$4,550,000
6
8
2
40
5%
9,000 - 10,999
$6,300,000
5
7
1
24
4%
11,000+
NA
NA
NA
0
20
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
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$2,375,000
$2,564,500
$2,562,500
$2,300,000
$2,279,474
Inventory
$2,500,000
$2,475,000
Solds
$2,725,000
$2,487,500
$2,535,000 $2,248,994
$2,150,000 $1,765,000
274
255
265
260
21
15
Nov-18
Dec-18
18
Jan-19
245
20
18
Feb-19
Mar-19
28
25
Apr-19
May-19
309
306
285
246
233
Jun-19
Jul-19
257
27
20
Aug-19
Sep-19
24
17
263
238
32
27
Oct-19
Nov-19
MEDIAN DATA INVENTORY October
November
257
SOLDS October
November
238 VARIANCE: -7 %
27 VARIANCE: -16 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
October
November
461
$
511 VARIANCE: 11 % $
32
October
SALES PRICE
November
95.66% 94.43% VARIANCE: -1 %
October
2.25m
$
November
2.54m VARIANCE: 13 % $
DAYS ON MARKET October
November
116
121 VARIANCE: 4 %
PARK CITY MARKET SUMMARY | NOVEMBER 2019 • The Park City single-family luxury market is a Buyer's Market with an 11% Sales Ratio. • Homes sold for a median of 94.43% of list price in November 2019. • The most active price band is $1,500,000-$1,599,999, where the sales ratio is 38%. • The median luxury sales price for single-family homes has increased to $2,535,000. • The median days on market for November 2019 was 121 days, up from 116 in October 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
PARK CITY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 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 $2,800,000 - $3,099,999
11
2
12
0
9
0
Balanced Market
13
Total Sales Ratio2: 19%
8
1 3
1
8
2
$2,200,000 - $2,499,999
11
3
$1,900,000 - $2,199,999
8
2
$1,700,000 - $1,899,999
17
4
$1,500,000 - $1,699,999
21
5
$1,400,000 - $1,499,999
10
2 7
1
$1,200,000 - $1,299,999
12
3
$1,100,000 - $1,199,999
1
Total Sales: 29
0
$2,500,000 - $2,799,999
$1,300,000 - $1,399,999
Total Inventory: 155
3
5
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
1
0%
1,000 - 1,999
$1,500,000
3
3
9
38
24%
2,000 - 2,999
$1,800,000
4
5
12
71
17%
3,000 - 3,999
$2,430,000
4
4
5
34
15%
4,000 - 4,999
$6,200,000
5
6
2
8
25%
5,000+
$2,725,000
4
5
1
3
33%
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 $2,150,000
$2,025,000 $1,775,000
$1,665,000
Inventory
Solds
$2,082,500 $1,775,000
$1,667,500
$1,775,000
229
191
181
7
10
Nov-18
Dec-18
14
Jan-19
205
181
17
10
Feb-19
Mar-19
187
177
18
Apr-19
175
11
5
May-19
Jun-19
$1,835,000
$1,800,000
$1,445,000
$1,300,000
173
$1,690,000
173
11 Jul-19
163
155
148
24
20
Aug-19
Sep-19
29
24 Oct-19
Nov-19
MEDIAN DATA INVENTORY October
November
148
SOLDS October
November
155 VARIANCE: 5 %
29 VARIANCE: 21 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
October
November
790
$
856 VARIANCE: 8 % $
24
October
SALES PRICE
November
96.35% 100.00% VARIANCE: 4 %
October
1.84m
$
November
1.80m VARIANCE: -2 % $
DAYS ON MARKET October
November
58
26 VARIANCE: -55 %
PARK CITY MARKET SUMMARY | NOVEMBER 2019 • The Park City attached luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 100.00% of list price in November 2019. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 60%. • The median luxury sales price for attached homes has decreased to $1,800,000. • The median days on market for November 2019 was 26 days, down from 58 in October 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