November statistics indicate it was another great month for real estate sales in southern Utah. Over the past 30 days, southern Utah Realtors with the Washington County Board (WCBR) closed 233 escrows worth more than $82 million.
St. George, Utah – From Nov. 1 through Nov. 30, 2017, Washington County’s active Realtors successfully sold 233 single-family residential homes, and/or, condominiums/townhomes. Of those 230+ closed escrows occurring in southern Utah over the past 30 days, three Washington County listings sold for more than $1.1M– with the priciest of St. George’s real estate listings closing for $2.2 million on Nov. 9.
Of November’s 233 sold listings, 42 spent more than 100 days on the Washington County Board of Realtors (WCBR) Multiple Listing Service (MLS). Meanwhile, those real estate listings (135) that offered the most value to their buyers closed in less than 30 days on the WCBR MLS.
November’s Average List Price of a home in southern Utah was $360,321. Always a matter of negotiations, those homes that sold within the average price range did so for approximately $352,386 – after spending between 48 and 72 Collective Days on Market (CDOM). And, for the month of Nov., the Median asking price for a home in southern Utah was $299,900.
Some of southern Utah’s sold real estate listings during the month of Nov. took longer than others to ultimately find their buyers and close escrow. Potentially slowed by the Thanksgiving holiday, 57.94% (or 135) of Southern Utah’s 233 closed escrow (COE) during Nov. occurred in the first 30 days. A price per square foot versus perceived value equation, the remaining sold listings took somewhat longer to close.
Days On Market
- 34 southern Utah real estate listings sold in less than 60 days
- 22 Southern Utah real estate listings sold in less than 90 days
- 14 Southern Utah real estate listings sold in less than 120 days
- 28 Southern Utah real estate listings took more than 121 days to close escrow
Top Five Sold Southern Utah Real Estate Listings for November
List Price: $2,495,000 – Sold Price: $2,220,000 – Days on Market: 205
List Price: $1,649,000 – Sold Price: $1,530,000 – Days on Market: 29
List Price: $1,250,000 – Sold Price: $1,137,500 – Days on Market: 32
List Price: $1,158,000 – Sold Price: $975,000 – Days on Market: 273
List Price: $998,000 – Sold Price: $974,000 – Days on Market: 206
Washington County Real Estate: November’s Numbers
On a year-over-year comparative basis, so far in 2017, Southern Utah’s active Realtors have sold 4,515 properties. A 6.7% uptick from 2016’s 4,233 closed escrows as of last November, these numbers included more than few homes worth more than $1 million. So far in 2017, 21 homes between $1 million and $1,499,999 have successfully closed escrow. Shocking few and pleasing many, that represents a 90.9 percent increase from 2016’s million-dollar sales, as of Nov.
St. George, Utah Real Estate Absorption Rate:
As of Saturday, Nov. 2, 2017, there are just over 770 single-family residential listings and/or condominium/townhomes for sale in the greater St. George area. As southern Utah’s dwindling inventory stays near historic lows, buyers and their agents will have to remain diligent to find the best deals. The WCBR Market Summary for Nov. 2017 indicates our absorption rate is just 3.44 months. In other words, if no new listings were taken and placed on the MLS – our inventory would be depleted within approximately 3.3 months.
Washington County Real Estate Prices:
With greater scrutiny of the Nov. graph provided by the WCBR’s FlexMLS system, we see that the Active Average list price of a home in southern Utah for the month of Nov. was $438,346; representing 2.94 percent increase from Nov. 2016. While the asking price has significantly increased over the past 12 months, the average sales price for a home in Washington County has r 7.29 percent on a year-over-year basis.
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 Saturday, November 2, 2017, 4:20 AM.