The housing market in Park City continues to see strong price appreciation, with values up 114.5% compared to last year. Home prices have increased 75.2% in the past month alone. With 4.1 months of supply, Park City's inventory levels remain relatively tight. Homes are now taking an average of 74 days to sell, significantly longer than the 33 days typical for this market. Only 12.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Park City market with the affordability index at 1928.8. Based on current market indicators, home prices in Park City are projected to decrease by approximately 16.7% over the next month.