2015 Southern Utah Real Estate Statistics: A Year in Review

St. George Utah – it’s January 1, 2016. Finally. Over the past 12 months approximately 2,908 Southern Utah real estate listings have successfully closed escrow in Washington County.

In drilling down on the total number of sales for 2015, we see that 217 single-family residential listings and/or condominiums in the greater St. George area, listed for over $500,000 successfully closed escrow during the calendar year – including 17 that were listed and sold between $1.1 million and $2.49 million. Not bad.

As to St. George’s other real estate sectors – this is how it breaks down.

974 homes listed for sale between $50,000 and $199,000, sold during 2016

948 homes listed for sale between $200,000 and $300,000, sold during 2016

515 homes listed for sale between $300,000 and $400,000, sold during 2016

213 homes listed for sale between $400,000 and $500,000, sold during 2016

2015 Southern Utah Real Estate Statistics: A Year in Review

2015 Southern Utah Real Estate Statistics: A Year in Review

Current St. George Supply And Demand: As of January 1, 2016 there are 970 single-family residential listings available in Washington County; that total number includes both freestanding single-family units and townhomes/condominiums. As the dwindling stock of Washington County real estate listings remains at the low end of the spectrum, there is a noticeable and direct correlation between the continued increase in the listing prices and the average sold price for homes in southern Utah.

2015 Southern Utah Real Estate Statistics:  A Year in Review

Total Active Listings in 2015

After closer scrutiny of the years overall real estate activity in the greater St. George area for single family residential listings, we see there were 4790 listings placed on the flex MLS system for 2015, representing a 2% decrease from 2014 when there were 4659 homes placed on the MLS system for southern Utah.

Homes Under Contract in 2015

For the greater St. George area, including Washington City, Hurricane, Santa Clara, Ivins and of course… St. George, there were 2,365 single-family residential real estate listings placed under contract during 2015. Representing an uptick of 9% over 2014’s 2153 homes placed under contract.

Sold Homes for 2015

Between January 1, 2015 and December 31, 2015 there were 2284 single-family residential real estate listings successfully sold in Washington County; resulting in a double-digit increase – 10% – over last year’s number of successfully closed escrows2072.

Total volume of sold single-family residential real estate for 2015

In looking at the total sales volume for just the greater St. George area – which excludes Hurricane Valley, Zion Park, and several of the smaller outlying communities – we see there was $703,745,325 in closed escrows for 2015. That number represents a 13% increase over 2014 total sold volume of $622,503,698.

Average Sales Price for 2015

Signifying a 2% increase over 2014’s average sales price of $300,436, this year for the greater St. George area the average sales price of a single-family residential home was $308,120.

Southern Utah Real Estate Statistics Summary December 2015:

Absorption Rate 4.84 Months

Average List Price $400,806

Median List Price $299,900

Average Sales Price $242,165

Median Sales Price $216,000

The above information is presented as a courtesy of Alex Yeager @ 435MLS.com: Your southern Utah real estate expert for St. George and its surrounding communities. Specializing in southern Utah luxury real estate, new construction, gated communities and southern Utah’s many golf communities.

*Information is deemed to be reliable, but is not guaranteed. © 2015 435MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Friday, December 1, 2016 4:20 AM.