St. George, Utah – it’s Thursday, October 16, 2014 in the “Palm Springs” of Utah, and the local Realtors have added 57 new listings to the WCBR’s MLS inventory during the last 24 hours. Of the 57 new listings, 17 have a list price under $150,000 – though most are vacant lots in lands. Next up and looking for a buyer, today’s MLS hot sheet has 25 new active listings between $150,000 and $300,000 – and another 12 listings between $300,000 and $500,000. Last … though certainly not least (particularly from an expense standpoint), today’s newest Southern Utah real estate listings include four luxurious estates listed between $700,000 and $2,995,000.
While it looks like quite a few of the areas Realtors were out taking listings yesterday, 15 properties were able to successfully Closed Escrow (COE) as well. Not bad. Of yesterday’s successfully closed escrow’s, 14 of them were under $350,000 – leaving only one COE for over $500,000.
For those area property owners hoping to sell a home, yesterday represented a relatively active market. Nine Southern Utah listings were put under contract – while eight listings were under $280,000, one property was listed for over $644,000.
While most homebuyers understand the tax ramifications/benefits of converting from renting to homeownership, many suspect the recent uptick in activity is more reflective of public confidence in the underpinning of our economy… Combined with a 30 year mortgage rate dipping to a 17 month low of 3.8%. With interest rates that low it’s hard not to spur interest in one of the greater assets and individual could own.
“The secret of getting ahead is getting started” ~ Mark Twain