September was a busy month for real estate transactions in southern Utah. For the month, Realtor members of the Washington County Board closed 221 escrows, worth more than $67 million.
St. George, Utah – From Sept. 1 through Sept. 30, 2017, Washington County’s Realtors successfully closed escrow on 221 real estate transactions. Of those 200+ real estate sales occurring in southern Utah over the past 30 days, two listings in Ivins sold for more than $1.1M.
Of September’s 221 sold listings, more than 30 spent 100 days on the Washington County Board of Realtors (WCBR) Multiple Listing Service (MLS). Meanwhile, those real estate listings (49) that offered the most value to their buyers closed in less than five days.
Washington County Real Estate Statistics: September
For September, the Average List Price of a home in southern Utah was $306,382. Always a matter of negotiations, those homes that sold within the Average price range did so for approximately $303,282 – after spending 53 Collective Days on Market (CDOM). While the Median asking price for a home in southern Utah was $281,900 for the month of September, the average sales price of a Median price home was $279,900. Spending considerably less time on the MLS then the Average priced property, those Median-priced homes spent only 22 CDOM.
Top Five Sold Southern Utah Real Estate Listings for September
List Price: $1,399,900 – Sold Price: $1,360,000 – Days on Market: 51
List Price: $1,200,000 – Sold Price: $1,150,000 – Days on Market: 25
List Price: $849,900 – Sold Price: $834,000 – Days on Market: 15
List Price: $779,900 – Sold Price: $725,000 – Days on Market: 276
List Price: $723,700 – Sold Price: $699,000 – Days on Market: 93
Washington County Real Estate: September’s Sold, Pending, Active And New Listings
On a year-over-year comparative basis, so far in 2017, Southern Utah’s active Realtors have sold 3,660 properties. A 5.2% uptick from 2016’s 3,479 closed escrows (as of September), included in those closed escrows were some pretty pricey properties. So far in 2017, 16 homes costing between $1 million and $1,499,999 have successfully closed escrow. Shocking few and pleasing many, that represents a 77.8% uptick from last year’s total million-dollar sales as of September.
St. George, Utah Real Estate Absorption Rate:
As of Sunday, October 1, 2017, there are just over 755 single-family residential listings and/or condominium/townhomes for sale in the greater St. George area. As the rapidly depleting inventory stays at historic lows, buyers and their agents will have to remain diligent to find the best deals. The WCBR Market Summary for September 2017 indicates our absorption rate is just 3.33 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 September graph provided by the WCBR’s FlexMLS system, we see that the Active Average list price in southern Utah has continued to steadily increase since the beginning of the year to $487,922; representing 15.37% increase from September 2016. While the asking price has significantly increased over the past 12 months, the average sales price for a home in Washington County has remained relatively steady – increasingly 1.34%.
St. George Utah Real Estate Market Summary
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 Sunday, October 1, 2017, 4:20 AM.