Thirteen homes closed in Promontory in October at a median price of $4,742,000, and the gap between resale and new-construction outcomes was the month’s clearest story.
What happened in Promontory this October?
Thirteen homes closed in Promontory during October 2026, one fewer than the fourteen that closed in October 2025. Total closed volume was $65.5 million.
The median sale price was $4,742,000, up 12.9 percent from $4,200,000 a year earlier. The average sale price moved the other way, easing 2.6 percent to $5,039,672. Those two figures point in opposite directions because the mix of homes that sold changed, not because every home gained or lost value.
Six of the thirteen closings were homes flagged as new construction. They accounted for $32.3 million, or roughly half the month’s dollar volume, and they behaved very differently from resale homes. More on that below.
One number deserves a careful read. The sale-to-original-list-price ratio for the month was 103.6 percent, which at first glance suggests homes selling above their asking prices. That average is pulled upward by pre-sold new-construction contracts that closed well above list prices set years earlier. Looked at on their own, the seven resale homes that closed in October averaged 91.7 percent of their original list price.
Ratio
CDOM is cumulative days on market, which counts the full time a property has been listed across listing periods rather than the days until it went under contract.
How did the Promontory market change over the last three months?
September was the busiest closing month of the three, with 25 sales. October fell to 13. Median prices, meanwhile, barely moved across all three months, holding between $4.6 million and $4.75 million.
Promontory, three-month trend
| Metric | Aug 2026 | Sep 2026 | Oct 2026 |
|---|---|---|---|
| Closed sales | 18 | 25 | 13 |
| Median sale price | $4,605,070 | $4,750,000 | $4,742,000 |
| Average sale price | $5,407,190 | $5,767,343 | $5,039,672 |
| New listings | 28 | 9 | 7 |
| Pending listings | 17 | 15 | 2 |
| Sale-to-original-list-price ratio | 99.6% | 96.6% | 103.6% |
| Average CDOM | 47 days | 91 days | 187 days |
The same three months a year earlier
| Metric | Aug 2025 | Sep 2025 | Oct 2025 |
|---|---|---|---|
| Closed sales | 10 | 7 | 14 |
| Median sale price | $5,925,000 | $3,602,580 | $4,200,000 |
| New listings | 15 | 5 | 14 |
| Pending listings | 11 | 15 | 13 |
Two things stand out. First, closings have been volatile month to month while the median has not. In a neighborhood where fewer than two dozen homes change hands in a typical month, the count swings on timing, and the median tells you more about pricing than the count does.
Second, the pipeline thinned noticeably. New listings fell from 28 in August to 9 in September and 7 in October, and only two homes went under contract in October. That combination usually reflects a seasonal lull between the summer selling window and the winter ski season, but it does mean fewer closings are queued up for the next month or two.
Average CDOM climbed steeply across the quarter, from 47 days in August to 187 in October. That figure is heavily influenced by a handful of new-construction listings that had been on the market for well over a year before closing. The median CDOM for October closings was 92 days, which is a more representative picture of how long a typical Promontory listing waited.
What actually sold in Promontory?
The thirteen October closings ranged from $3,300,000 to $7,500,000. All were single-family homes. The median worked out to $959 per finished square foot, with individual sales spanning $770 to $1,422 per square foot depending on age, size and location within the community.
Seven were resale homes and six were new construction. Resale homes closed at a median of $4,685,000 and a median of $957 per square foot. New-construction closings came in at a median of $5,636,605 and $1,084 per square foot.
The resale homes shared a pattern worth noticing. On average they closed at 91.7 percent of their original asking price, and several had taken significant price reductions before going under contract. Buyers negotiated, and sellers who had started high adjusted.
5794 Dakota Trail, The Palisades
5 bedrooms 8 bathrooms 8,982 square feet
Approximately 1.11 acres · Built 2020
Original list price: $8,700,000
Percent of original list price: 86.2%
Sale price per square foot: $835
Days on market: 239
2858 Hills Ridge Road, Sage Hills Estates
5 bedrooms 7 bathrooms 7,898 square feet
Approximately 0.69 acres · Built 2026
Original list price: $6,979,027
Percent of original list price: 100.0%
Sale price per square foot: $884
Days on market: 0
3248 Signal Hill Court, Signal Hill
4 bedrooms 6 bathrooms 5,647 square feet
Approximately 0.73 acres · Built 2011
Original list price: $5,299,999
Percent of original list price: 95.3%
Sale price per square foot: $894
Days on market: 28
2858 Hills Ridge Road is a new-construction home, which is why it shows zero days on market and closed exactly at its asking price. Builder contracts in Promontory are frequently written before a home is publicly marketed.
At the other end, 5794 Dakota Trail spent 239 days on market and closed $1.2 million below its original $8,700,000 asking price. Larger estate homes in Promontory have generally needed more time and more pricing flexibility than the smaller cabin and villa product.
What did buyers have to choose from?
Seven new listings came to market in Promontory in October, half the fourteen that appeared in October 2025. Two homes went under contract, down from thirteen a year earlier.
August 2026
September 2026
October 2026
New listings were concentrated at the upper end. Of the seven that came to market in October, three were priced above $5 million, one between $4 and $5 million, one between $3 and $4 million, and two between $2.5 and $3 million. Nothing new listed below $2.5 million.
The absorption rate for October was 4.18 months, improved from 5.65 months a year earlier. That figure estimates how long it would take to sell through the listed supply at the current pace of sales. A lower number generally means less standing inventory relative to demand, though with October’s sales count and pending count both low, the ratio is sensitive to small changes in either.
Year to date, 145 homes have been listed in Promontory in 2026 against 133 through the same point in 2025, and 106 have closed against 84. So while October itself was quiet, the year as a whole has carried more activity than last year.
New Construction in Focus
New construction is a large and growing share of what trades in Promontory. Six of October’s thirteen closings were homes explicitly flagged as new construction, and together they made up 49.4 percent of the month’s dollar volume.
| Measure | Value |
|---|---|
| New-construction closings | 6 of 13 |
| Combined sale price | $32,349,738 |
| Median sale price | $5,636,605 |
| Price range | $3,747,162 – $6,979,027 |
| Median price per square foot | $1,084 |
Five of the six closed at or above their original list price, and the group averaged 117.4 percent of original list. This is not a bidding-war story. These were homes put under contract months or years before completion, where the original list price was set early and the final figure reflects selections, upgrades and contract terms agreed along the way. Resale homes in the same month averaged 91.7 percent of original list. The two figures measure different things and should not be compared directly.
Current new-construction availability
As of the most recent listing search, 18 of the 47 active Promontory listings are explicitly flagged as new construction.
| Measure | Value |
|---|---|
| Asking price range | $4,075,000 – $19,500,000 |
| Median asking price | $7,884,705 |
Asking prices on those 18 run from $4,075,000 to $19,500,000, with a median of $7,884,705. Proposed-stage homes carry completion dates stretching into 2027 and 2028, so a buyer choosing that route is committing well ahead of occupancy.
Sage Hills Estates, Hawks Pass Villas, Painted Shores, Pinnacle Portfolio and Links Edge account for most of the current new-construction inventory. These are current availability figures, not a month-end inventory count for October.
What does this mean for buyers and sellers?
For buyers
Resale sellers moved on price in October. All seven resale closings came in below their original asking price, averaging 91.7 percent of it. If you are looking at a resale home that has been listed for a while, the October record suggests there is usually room to negotiate.
Time on market varied enormously, and that variation is useful information. The median listing that closed in October had been on the market 92 days, but 5794 Dakota Trail took 239 days and 6634 W Golden Bear Loop went under contract in nine. Smaller, well-priced homes in the cabin and villa neighborhoods have been moving quickly. Large estate properties have not.
If you are considering new construction, understand what you are signing up for. Of the 18 new-construction listings currently available, six are still at the proposed stage with completion dates in 2027 and 2028. Builder contracts also tend to close at or above the original list price once selections are made, so budget for the figure you will actually pay rather than the price you first see.
With only seven new listings in October and two homes going under contract, there is less competition for the inventory that is standing. That can work in your favor, though it also means fewer choices.
For sellers
Pricing accuracy mattered more than patience in October. The homes that sold fastest were the ones priced close to where the market landed. 6634 W Golden Bear Loop listed at $3,595,000 and closed at $3,300,000 after nine days. 5794 Dakota Trail started at $8,700,000, cut to $8,200,000, and closed at $7,500,000 after eight months.
The median price in Promontory held steady across August, September and October, between $4.6 and $4.75 million. The market is not falling, but it also did not reward sellers who tested a high number and waited.
If you own a larger estate home, plan for a longer timeline. If you own in the $3 to $5 million range, October’s record suggests buyer interest is there when the price is right.
One caution on the headline numbers. The 103.6 percent sale-to-original-list-price figure for the month does not mean homes are selling above asking. Resale homes averaged 91.7 percent. The higher figure comes from builder contracts and is not a benchmark a resale seller should price against.
Keep the price increase in perspective
Promontory’s median sale price rose 12.9 percent year over year in October, from $4,200,000 to $4,742,000. Year to date, the median stands at $4,970,000 against $4,450,000 through the same point in 2025, an increase of 11.7 percent.
Those are real numbers, but they do not mean every Promontory home gained roughly 12 percent in value over the past year.
A median describes the middle of what sold, not the change in value of any particular property. October 2026’s thirteen sales and October 2025’s fourteen are small samples, and the median moves when the mix of homes changes. If more large or newly built homes close in a given month, the median rises whether or not individual values did.
The average sale price actually declined 2.6 percent over the same period, from $5,171,628 to $5,039,672. When the median and the average move in opposite directions, mix is usually doing the work.
One more detail argues for caution. Six of October’s closings were new construction at a median of $5,636,605 and $1,084 per square foot, well above the $957 per square foot median for resale homes. New construction carries a price premium, and a month with a heavy new-construction share will show a higher median for that reason alone.
What an individual owner’s home is worth depends on its subdivision, size, age, condition, views and lot. The only reliable way to know is a valuation of that specific property.
What should we watch next month?
These are indicators worth following, not forecasts.
- Whether the pending count recovers. Only two Promontory homes went under contract in October, against thirteen in October 2025 and fifteen in September. Pending activity leads closings by roughly one to two months, so November’s figure will say a good deal about where the closing count lands heading into winter.
- How the resale discount moves. Resale homes closed at an average of 91.7 percent of original list price in October. If that figure holds or falls further, it suggests sellers are still adjusting to buyer expectations. If it firms up, pricing may be settling.
- New-construction supply and absorption. Eighteen of the 47 current listings are new construction, including six still at the proposed stage. Watching how many of those move to contract, and whether builders add more inventory, will show whether the new-construction share of sales stays near October’s half of volume.
Frequently Asked Questions
What was the median home price in Promontory in October 2026?
The median sale price was $4,742,000 across thirteen closed sales, up 12.9 percent from $4,200,000 in October 2025.
How many homes sold in Promontory in October 2026?
Thirteen homes closed, one fewer than the fourteen that closed in October 2025. Combined closed volume was $65.5 million.
Did homes in Promontory sell above asking price?
Generally no. All seven resale homes that closed in October sold below their original asking price, averaging 91.7 percent of it. The month’s overall sale-to-original-list-price figure of 103.6 percent is lifted by new-construction contracts signed well before completion, which closed above list prices set earlier.
How long did homes take to sell in Promontory?
The median cumulative days on market for October closings was 92 days. The average was 186 days, pulled up by several new-construction listings that had been marketed for more than a year before closing.
What is new construction doing in Promontory?
Six of October’s thirteen closings were new construction, accounting for 49.4 percent of the month’s dollar volume at a median price of $5,636,605. Eighteen of the 47 current listings are new construction, with asking prices from $4,075,000 to $19,500,000.
Why did the median price rise while the average price fell?
The median rose 12.9 percent while the average fell 2.6 percent, which usually indicates a change in the mix of homes sold rather than a uniform shift in values. October 2026 had a heavier concentration of mid-range sales and a lighter top end than October 2025.
How much inventory is available in Promontory right now?
A current listing search returns 47 active homes, with asking prices concentrated above $4 million. Thirty of those are priced above $5 million. This is a current figure and differs from month-end inventory counts for October.
Is now a good time to buy or sell in Promontory?
That depends on your property and your timeline rather than on a single month’s numbers. October showed resale buyers negotiating successfully and well-priced homes moving quickly, while larger estate properties needed longer and more pricing flexibility. A conversation about your specific home or target neighborhood will be more useful than a market average.
Thinking about buying or selling in Promontory?
Every home in Promontory is different, and a monthly median cannot tell you what your property is worth or what you should offer on a particular listing. Karen Stone works in these neighborhoods every week and can walk you through what the numbers mean for your situation.
