P A R K CI T Y UTAH –August 2019–
www.LuxuryHomeMarketing.com
PARK CITY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 2019 Inventory
Sales
Luxury Benchmark Price 1: $1,500,000 $7,000,000+ $6,200,000 - $6,999,999
19
0
$5,400,000 - $6,199,999
Buyer's Market Total Sales Ratio2: 8%
15
0
26
2
$3,300,000 - $3,499,999
12
1
$3,100,000 - $3,299,999
18
1
$2,700,000 - $3,099,999
23
2
$2,400,000 - $2,699,999
19
4
$2,100,000 - $2,399,999
35
2
$1,800,000 - $2,099,999
34
5
$1,700,000 - $1,799,999
14
3
$1,600,000 - $1,699,999
1
Total Sales: 24 22
1
$3,500,000 - $4,099,999
$1,500,000 - $1,599,999
Total Inventory: 306 21
1
$4,700,000 - $5,399,999
$4,100,000 - $4,699,999
29
1
8
1
11
0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,875,000
4
4
5
30
17%
3,000 - 4,999
$2,837,500
5
5
6
70
9%
5,000 - 6,999
$2,375,000
5
6
6
108
6%
7,000 - 8,999
$3,450,000
5
7
3
56
5%
9,000 - 10,999
$5,100,000
6
7
3
21
14%
11,000+
$7,000,000
7
10
1
21
5%
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
$2,280,000
$2,200,000
$2,375,000 $2,105,250
$2,564,500
$2,562,500 $2,300,000
$2,279,474
$2,500,000
$2,475,000
$2,487,500
$1,765,000 281
272
19 Jul-18
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
306
285
246
233
20
18
28
25
Feb-19
Mar-19
Apr-19
May-19
24
17 Jun-19
Jul-19
MEDIAN DATA INVENTORY June
July
285
306 VARIANCE: 7 %
SALE PRICE PER SQFT. June
July
389
537 VARIANCE: 38 %
$
$
SOLDS June
SALES PRICE July
17
24 VARIANCE: 41 % SALE TO LIST PRICE RATIO June
July
93.48% 95.25% VARIANCE: 2 %
June
1.77m
$
July
2.49m VARIANCE: 41 % $
DAYS ON MARKET June
106
44 VARIANCE: -58 %
PARK CITY MARKET SUMMARY | JULY 2019 • The Park City single-family luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 95.25% of list price in July 2019. • The most active price band is $2,400,000-$2,699,999, where the sales ratio is 21%. • The median luxury sales price for single-family homes has increased to $2,487,500. • The median days on market for July 2019 was 44 days, down from 106 in June 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
July
PARK CITY
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | JULY 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
9
0
Total Sales Ratio2: 6%
8 6
1
16
0 10
2
16
1
$1,700,000 - $1,899,999
21
2
$1,500,000 - $1,699,999
22
2 9
0
$1,300,000 - $1,399,999
7
1
$1,200,000 - $1,299,999
1
Buyer's Market
11
0
$1,900,000 - $2,199,999
$1,100,000 - $1,199,999
Total Sales: 11
0
$2,200,000 - $2,499,999
$1,400,000 - $1,499,999
Total Inventory: 175
6
0
$2,800,000 - $3,099,999 $2,500,000 - $2,799,999
9
1
15
1
10
0
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
$1,242,000
3
3
1
48
2%
2,000 - 2,999
$1,975,000
4
5
6
83
7%
3,000 - 3,999
$1,726,251
4
4
3
33
9%
4,000 - 4,999
$7,525,000
4
5
1
8
13%
5,000+
NA
NA
NA
0
3
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 $1,777,500
$1,700,000
$1,692,500
$1,775,000
$1,665,000
Solds
$2,082,500 $1,775,000
$1,667,500
$1,362,500
157
156
14
Jul-18
$1,775,000
$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
11 Jul-19
MEDIAN DATA INVENTORY June
July
187
SOLDS June
SALES PRICE July
175 VARIANCE: -6 %
11 VARIANCE: 120 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
July
498
$
753 VARIANCE: 51 % $
5
June
July
98.07% 96.30% VARIANCE: -2 %
June
1.30m
$
July
1.78m VARIANCE: 37 % $
DAYS ON MARKET June
238
32 VARIANCE: -87 %
PARK CITY MARKET SUMMARY | JULY 2019 • The Park City attached luxury market is a Buyer's Market with a 6% Sales Ratio. • Homes sold for a median of 96.30% of list price in July 2019. • The most active price band is $2,200,000-$2,499,999, where the sales ratio is 20%. • The median luxury sales price for attached homes has increased to $1,775,000. • The median days on market for July 2019 was 32 days, down from 238 in June 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
July