Real Estate News: Declining Inventory, Looming Rate Hikes and Neighborhood Sales

Depending on how you dissect your MLS search, single-family residential listings for the St. George area have declined to approximate 830 listings; the Federal Reserve says to expect rate hikes in 2015 and 35 single-family residential listings and/or condos/townhomes closed escrow since last Monday.

It’s Monday, July 13, 2015. Time for full disclosure…

Declining Inventory:

Currently, on the Washington County Board of Realtors Flex MLS system there are just 830 residential properties listed for sale – representing a serious decline from just a few short months ago. As investors, retirees, and those seeking to flee their hectic urban lifestyle scramble to find properties that fit their specific search criteria, our rapidly depleted inventory has a serious upside homeowners – appreciation!

Looming Rate Hikes:

No doubt tied to the current scramble to find the right property; Janet Yellen, chairman of the Federal Reserve, noted on Friday that she anticipates the federal government will be forced to raise interest rates before the end of 2015. Despite the rather lackluster economic outlook for the US, Yellen indicated in the speech last Friday that we could see at least one interest rate hike before December.

Neighborhood Sales:

Over the past seven days, 35 St. George Utah real estate listings have successfully closed escrow in Washington County. And while that’s great news for those that have successfully closed escrow, it puts some serious upward pressure on local real estate values, making it more difficult for our local realtors to find that perfect property from their clients. Below are the most recently closed escrows for the greater St. George area.

Results: 35Selected: 0Contact or FeedbackSchedule a ShowingPrivate Note

 

 Price | Status | MLS #SubdivisionListing DateSold DateSold Price

1

$616,023.05
2062 W Aspiration Point Circle
St George, UT 84790
Closed / 15-165515  

Status Change

SUN RIVER04/01/201507/07/2015616,023.05

2

$457,000
3909 S 2510 E
St George, UT 84790
Closed / 15-166886  

Status Change

MEADOW VALLEY FARMS06/01/201507/09/2015457,000

3

$454,265
2159 W River of Fortune Drive
St George, UT 84790
Closed / 15-165516  

Status Change

SUN RIVER04/01/201507/08/2015454,265

4

$453,248
4993 S Blue Star Drive
St George, UT 84790
Closed / 15-164579  

Status Change

SUN RIVER02/20/201507/07/2015453,248

5

$452,000
1218 E Birken Street
Washington, UT 84780
Closed / 15-166182  

Status Change

HIGH CHAPARRAL05/06/201507/08/2015452,000

6

$378,076
1557 W Whitestone Drive
St George, UT 84790
Closed / 14-161017  

Status Change

SUN RIVER10/01/201407/08/2015378,076

7

$358,576
1021 W 4100 S 35
St George, UT 84790
Closed / 15-165979  

RIVERSTONE04/30/201507/07/2015358,576

8

$342,381
1858 E 1180 S 27
St George, UT 84790
Closed / 15-167726  

RIVERSIDE CLIFFS06/10/201507/07/2015342,381

9

$340,000
3464 Chimney Rock
St George, UT 84790
Closed / 15-164477  

Status Change

DESERT PLATEAU03/05/201507/08/2015340,000

10

$326,777.5
905 W LAS COLINAS Drive 407
St George, UT 84790
Closed / 15-165982  

LAS COLINAS04/30/201507/07/2015326,777.5

11

$325,000
150 N Crestline
St George, UT 84790
Closed / 15-162698  

Status Change

EAST RIDGE01/12/201507/09/2015325,000

12

$308,000
1603 N BLACK LION Road
Washington, UT 84780
Closed / 15-162653  

Status Change

SILVERSTONE GRN SPR01/05/201507/09/2015308,000

13

$294,000
1673 E 50 Circle N
St George, UT 84790
Closed / 15-166800  

Status Change

PRIMROSE POINT05/29/201507/10/2015294,000

14

$289,000
420 E TODD
Washington, UT 84780
Closed / 15-165295  

Status Change

NEW WARM SPR04/07/201507/08/2015289,000

15

$284,977
1582 W 330 N 31
St George, UT 84770
Closed / 15-167718  

DESERT WILLOW05/06/201507/06/2015284,977

16

$280,000
235 W Altamira Way
St George, UT 84790
Closed / 14-160485  

CASA DEL RIO10/06/201407/06/2015280,000

17

$265,500
3464 Red Butte Drive
Santa Clara, UT 84765
Closed / 15-165765  

Status Change

ARROWHEAD MESA04/23/201507/06/2015265,500

18

$250,000
2292 PATRICIA Drive
Santa Clara, UT 84765
Closed / 15-162701  

HEIGHTS WEST01/06/201507/06/2015250,000

19

$242,000
515 N Sugar Plumb Lane
Washington, UT 84780
Closed / 15-165532  

SIENNA HEIGHTS04/15/201507/07/2015242,000

20

$237,500
1140 E Fort Pierce Drive #53
St George, UT 84790
Closed / 14-156870  

Status Change

SIENNA CNYN WEBB HL06/03/201407/10/2015237,500

21

$225,000
174 N 2940 E
St George, UT 84790
Closed / 15-166432  

RIVERSIDE HEIGHTS05/14/201507/08/2015225,000

22

$215,000
668 N 1620 W
St George, UT 84770
Closed / 15-166045  

Status Change

WEST TERRACE05/04/201507/06/2015215,000

23

$206,000
798 S COTTON MEADOW Lane
Washington, UT 84780
Closed / 15-167152  

COTTON MEADOW06/12/201507/06/2015206,000

24

$200,000
805 S River Road 26
St George, UT 84790
Closed / 15-163992  

MEADOW CREEK EST02/17/201507/07/2015200,000

25

$190,000
545 S Valley View Drive #13
St George, UT 84770
Closed / 15-166407  

Status Change

PARK GRN VLY05/14/201507/10/2015190,000

26

$178,000
394 N 2040 E
St George, UT 84770
Closed / 15-165922  

Status Change

CIMARRONT RED CLIFFS04/24/201507/07/2015178,000

27

$163,920
225 N Valley View #89
St George, UT 84770
Closed / 15-166960  

WEST SPRINGS TH06/04/201507/07/2015163,920

28

$155,500
1014 N Jefferson
St George, UT 84770
Closed / 15-166961  

Status Change

PAINTED HILLS EST06/04/201507/09/2015155,500

29

$137,000
1040 N 1300 W #69
St George, UT 84770
Closed / 15-162448  

MILLCREEK COTTAGES01/02/201507/06/2015137,000

30

$133,000
840 S 400 E 7
St George, UT 84770
Closed / 15-165828  

Status Change

04/24/201507/07/2015133,000

31

$131,000
699 Ridge Rim Way
St George, UT 84770
Closed / 15-166539  

Status Change

RIDGE AT ST GEORGE05/15/201507/10/2015131,000

32

$126,500
1735 W 540 #2306
St George, UT 84770
Closed / 15-166798  

Status Change

LEXINGTON HILLS TH05/29/201507/09/2015126,500

33

$125,000
1735 W 540 N #2601
St George, UT 84770
Closed / 15-167076  

LEXINGTON HILLS TH06/09/201507/07/2015125,000

34

$117,000
1509 W 750 N #2
St George, UT 84770
Closed / 15-166212  

Status Change

CRESCENT VIEW05/05/201507/10/2015117,000

35

$99,555
1840 W 1100 N #18
St George, UT 84770
Closed / 15-164677  

Status Change

DIXIE SUNSHINE VLLG03/13/201507/07/201599,555

*Information is deemed to be reliable, but is not guaranteed. © 2015 435MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Monday, July 13, 2015 4:20 AM.

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.