Park City, UT housing market

Park City is holding firm on value, but the pace has cooled. The typical home is worth about one million seven hundred ninety thousand dollars, up nearly 5 percent over the past year. So values are still climbing, just not in a frenzy. Look at how long homes are sitting and you see why. The median time on market is around sixty-six days, so buyers here are not rushing. There are about 639 homes for sale, with roughly 250 fresh listings this month, so choices are steady. The median list price sits near two million fifty thousand dollars, well above what homes are actually worth, which tells you sellers are aiming high. And yet only about 8 percent of listings have cut their price, so most are holding their number and waiting. Put it together and this is a market where firm pricing still works, but only if it is realistic. If you list here, price it close to real value from day one, or you will be one of the homes sitting past two months.