St. George Utah Real Estate Market Statistics

Southern Utah Real Estate Market Statistics: March 2017

 According to Market Statistics, Southern Utah’s inventory is down and prices are up. It Saturday, April 1, 2017 and here is your March real estate report for the greater St. George area.

The southern Utah real estate market’s Absorption Rate for the greater St. George area is at a brand-new low, according to new data provided by the Washington County Board of Realtors. The lack of inventory combined with the concern over looming interest rate hikes has driven existing inventory down by double digits on a year-over-year basis. With the average Days on Market holding steady since the beginning of the year and the Sold to List Ratio spiking dramatically during March 2017, it’s safe to say the increase in the Average List Price hasn’t scared today’s buyer away.

Southern Utah’s real estate market Absorption Rate, measured in months, has declined 30.22% on a year-over-year basis. At just 3.44 for the month of March, that Absorption Rate number represents how many months before Washington County would run out of listings – provided no new listings were taken. Obviously, that won’t happen. However, following the law of supply and demand, the lack of inventory has definitely led to a spike in appreciation for southern Utah homeowners.

The Median List Price for a home in the southern Utah real estate market for March 2017 was $343,999. Up 9.22% from March 2016, when the median list price was $314,950 – this nearly 10% uptick underscores strong self-confidence. Though wanting and getting are two different things (Read:” List Price”), the Average Sale Price in Washington County increased by more than 10% since this time last year.

The Average Sale Price for a home in the southern Utah real estate market for March 2017 was $295,537. A solid 11.72% increase over March 2016, when the average sales price was $264,539, this double-digit growth is nothing compared to what happened to those homes listed just under $1 million in southern Utah. Spiking 166.7% for March, Washington County real estate listings between $750,000 and $999,999 are up 128.6% on a year-over-year basis.

  Southern Utah Real Estate Market Statistics: March 2017

 Washington County Real Estate Market Statistics

Southern Utah Real Estate Market Statistics

 

 Washington County Summary Real Estate Market Statistics March 2017

  • Mar-17           Mar-16           % Chg 2017 YTD      2016 YTD      % Chg
  • Absorption Rate        3.44    4.93    -30.22 3.46    5.05    -31.49
  • Average List Price     $452,538       $418,146       8.22    $390,567       $364,097       7.27
  • Median List Price      $343,999       $314,950       9.22    $309,900       $284,900       8.78
  • Average Sale Price    $295,537       $264,539       11.72  $284,807       $251,086       13.43
  • Median Sale Price     $254,000       $228,250       11.28  $245,000       $220,500       11.11
  • Average CDOM          78       88       -11.36 78       91       -14.29
  • Median CDOM           28       40       -30.00 37       52       -28.85

 

Sold Southern Utah Real Estate Listings

  • This Month    Year to Date

  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        2          6          -66.7   11       20       -45.0
  • 50,000-99,999          10       25       -60.0   32       62       -48.4
  • 100,000-149,999     34       63       -46.0   79       143     -44.8
  • 150,000-199,999     74       68       8.8       194     168     15.5
  • 200,000-249,999     91       78       16.7    214     176     21.6
  • 250,000-349,999     112     112     0.0       258     230     12.2
  • 350,000-449,999     59       49       20.4    131     97       35.1
  • 450,000-549,999     21       14       50.0    51       40       27.5
  • 550,000-649,999     7          10       -30.0   18       16       12.5
  • 650,000-749,999     8          4          100.0  20       7          185.7
  • 750,000-999,999     8          3          166.7  16       7          128.6
  • 1,000,000-1,499,999           2          0          N/A     3          0          N/A
  • 1,500,000-1,999,999           0          0          0.0       1          0          N/A
  • 2,000,000-2,499,999           0          1          -100.0 0          1          -100.0
  • 2,500,000-2,999,999           1          1          0.0       1          1          0.0
  • 3,000,000+    0          0          0.0       0          0          0.0
  • Totals  429     434     -1.2     1029   968     6.3

 

Pending Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        4          3          33.3    13       14       -7.1
  • 50,000-99,999          11       22       -50.0   30       68       -55.9
  • 100,000-149,999     41       37       10.8    105     131     -19.8
  • 150,000-199,999     84       83       1.2       209     214     -2.3
  • 200,000-249,999     111     95       16.8    279     235     18.7
  • 250,000-349,999     158     133     18.8    369     314     17.5
  • 350,000-449,999     67       54       24.1    174     125     39.2
  • 450,000-549,999     39       16       143.8  88       56       57.1
  • 550,000-649,999     12       10       20.0    27       25       8.0
  • 650,000-749,999     7          5          40.0    19       17       11.8
  • 750,000-999,999     5          6          -16.7   26       13       100.0
  • 1,000,000-1,499,999           2          2          0.0       8          2          300.0
  • 1,500,000-1,999,999           0          1          -100.0 3          1          200.0
  • 2,000,000-2,499,999           2          0          N/A     2          1          100.0
  • 2,500,000-2,999,999           0          0          0.0       1          1          0.0
  • 3,000,000+    0          0          0.0       0          0          0.0
  • Totals  543     467     16.3    1353   1217   11.2

 

Active Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        17       23       -26.1   33       51       -35.3
  • 50,000-99,999          36       74       -51.4   79       156     -49.4
  • 100,000-149,999     53       79       -32.9   162     245     -33.9
  • 150,000-199,999     107     180     -40.6   313     425     -26.4
  • 200,000-249,999     151     227     -33.5   451     534     -15.5
  • 250,000-349,999     348     439     -20.7   809     853     -5.2
  • 350,000-449,999     228     275     -17.1   469     481     -2.5
  • 450,000-549,999     147     129     14.0    290     235     23.4
  • 550,000-649,999     70       83       -15.7   116     139     -16.5
  • 650,000-749,999     48       53       -9.4     83       84       -1.2
  • 750,000-999,999     59       78       -24.4   105     112     -6.2
  • 1,000,000-1,499,999           42       36       16.7    56       44       27.3
  • 1,500,000-1,999,999           18       22       -18.2   25       31       -19.4
  • 2,000,000-2,499,999           7          5          40.0    9          8          12.5
  • 2,500,000-2,999,999           9          9          0.0       11       10       10.0
  • 3,000,000+    5          8          -37.5   8          9          -11.1
  • Totals  1345   1720   -21.8   3019   3417   -11.6

 

New Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        7          7          0.0       16       22       -27.3
  • 50,000-99,999          26       20       30.0    49       69       -29.0
  • 100,000-149,999     42       39       7.7       99       137     -27.7
  • 150,000-199,999     55       80       -31.2   197     247     -20.2
  • 200,000-249,999     122     113     8.0       307     311     -1.3
  • 250,000-349,999     158     126     25.4    476     436     9.2
  • 350,000-449,999     80       79       1.3       259     250     3.6
  • 450,000-549,999     66       39       69.2    160     118     35.6
  • 550,000-649,999     18       12       50.0    60       65       -7.7
  • 650,000-749,999     10       9          11.1    41       38       7.9
  • 750,000-999,999     10       9          11.1    45       50       -10.0
  • 1,000,000-1,499,999           7          1          600.0  24       20       20.0
  • 1,500,000-1,999,999           3          2          50.0    10       6          66.7
  • 2,000,000-2,499,999           0          0          0.0       1          1          0.0
  • 2,500,000-2,999,999           1          1          0.0       4          3          33.3
  • 3,000,000+    0          0          0.0       3          3          0.0
  • Totals  605     537     12.7    1751   1776   -1.4

 

Information is deemed to be reliable, but is not guaranteed. © 2017 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Saturday, April 01, 2017 5:33 AM.