The preliminary statistics for the third quarter are here! The in-depth analysis of the numbers is in progress and will be complete in a couple weeks, but in the meantime it is worth having a look at the early stats. As you will see in the following market snapshot, there are some interesting results. 

The total number of sales in some market areas are down when compared to the prior year, however, both median and average homes prices continued their upward trajectory in most market areas, across all property types (single family, condominium, land). This activity is the hallmark of an ongoing shortage of inventory in the market.

The chart below illustrates the significant low level of inventory the Wasatch Back is currently experiencing. 


Residential Properties & Land - Park City MLS - as of September 31, 2021

The month-to-month change in inventory turned downward in July, but toward the end of August began to rise again. However, this increase was short lived, as September closed down nearly 100 listings from August, a decrease of 12.5%. This end-of-summer downward trend is normal for our market, and we will wait to see if the coming months deliver an increase in inventory.

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12 Month Rolling Year-Over-Year  |  Oct 2019 - Sept 2020  vs  Oct 2020 - Sept 2021
Single-Family Homes
Vacant Land

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Please reach out if you would like a current market analysis of your home. Your equity position is likely the highest it's ever been, so if you are considering selling your home, this may be THE optimal time.

While the quick snapshot above of the 3rd Quarter 2021 Market Statistics gives a brief overview of activity, the more in-depth Market Pulse Report will be in your inbox in a couple of weeks. It dives deeper into the "why" behind the statistics.
Look for the complete
Market Pulse Report: 3rd QUARTER 2021
in your inbox in a couple of weeks!