Entrada Real Estate Market Report
Entrada’s real estate market remained strong during the last month of 2014. And based on the recent real estate trends and reports, 2015 looks as though it’s destined to be another banner year for real estate sales in the many Entrada subdivisions. As interest rates remained steady for a 30-year fixed home loan, and values continue to appreciate nicely, Entrada’s real estate inventory has decreased modestly while it’s asking price per square foot remained stable.
During December 2014, three homes between $850,000 and $990,000 successfully closed escrow within the master planned community of Entrada.
Originally listed for $995,000 and selling for $990,000 (approximately $285 per square foot), a home located at 2688 N. Chaco Trail, in Chaco Bench area of Entrada sold in only 22 short days. This superb custom Entrada residence boasted breathtaking views of Entrada’s world-class golf course, as well as the surrounding Snow Canyon and the Red Rock Mountains. Complete with a butler’s kitchen, gymnasium and dry heat sauna in the master bedroom, this Entrada residence had a lot to offer!
The second sold home in the Entrada subdivision of St. George Utah was originally listed for $989,000 and spent 173 cumulative days on market before closing escrow. With an ultimate sales price of $939,000. 2204 N Chaco Trail was the golf aficionados dream come true. A spectacular Entrada home that offered its new owners both views and privacy, this Entrada residence was a steal at $257.05 per square foot.
Last … but not least for 2014, a Kachina Cliffs at Entrada residence sold for $850,000 that was originally listed for $995,000. Originally built in 2006, this Kachina Cliffs home was a crowning jewel of 2007 St. George Utah Parade of homes. Boasting 5088 ft.² of southwestern luxury, this four bedroom, 5 & 1/2 bath home featured a massive master suite, attached casita and beautiful pool/spa combination – perfect for entertaining during those warm summer months. With an ultimate sales price of $167.06 per square foot, this Kachina Cliffs at Entrada residence could not be replaced today at that price.
So far in 2015 … two Entrada homes have closed escrow!
Originally listed for $930,000 in April 2014, 2331 W. Entrada Trail #68 sold for $890,000 after spending a cumulative 177 days on the St. George Utah real estate market. This Kachina Springs East residence comprised 3,561 ft.² of southern Utah luxury and closed escrow for $249.93 per square foot; again, hard to replicate at that price point.
As of January 22, 2015, this Kachina Springs East at Entrada sale represents the stabilization of the southern Utah luxury real estate market. Selling for its asking price in only 55 days, unit #115 at 2331 W. Entrada Trail, closed escrow for $242.26 per square foot. This Kachina Springs East at Entrada home offered captivating views of Snow Canyon State Park and surrounding Red sandstone mountains.
As Entrada’s real estate inventory continues to decrease and building costs continue to rise … it would appear – based on the market variables – that Entrada’s real estate prices are going to continue to appreciate nicely for the foreseeable future. As the 30-year interest rate remains at historic lows and building costs continue to skyrocket, this window of opportunity for purchasing some of Southern Utah’s more significant architectural masterpieces for under $300 a square foot could soon be a thing of the past.
Should you be in the interested in the Entrada real estate market and looking to purchase one of the subdivisions breathtaking homes, please do not hesitate to give me (Alex Yeager) a call at 435. 619. 2206, or email me at 435MLS@gmail.com and let me know how I can help you find that perfect Entrada residence.
And remember – while Entrada represents one of the finer luxury communities in St. George Utah, other opportunities exist as well. From Kayenta to Stone Cliff, Paradise Canyon to Coral Canyon, if you’re looking for a sophisticated southwestern lifestyle, Alex Yeager can help you satisfy your specific requirements.