It’s Monday, June 19, 2017, and over the past seven days, southern Utah’s Realtors have successfully closed 33 real estate transactions in Washington County.
Projected to increase approximately 7% over the next 12 months, Utah’s real estate prices remain under dramatic pressure as many discover all the Beehive State has to offer. With looming interest rate hikes, decreasing inventory, and motivated buyers scouring the Internet, finding that perfect home in southern Utah requires a collaborative effort between technology and perseverance.
Of last week’s sold real estate listings, 18 officially closed escrow in just under 30 days, 6 closed escrow in less than 60 days, and another six listings took up to 90 days. As is generally the case, this week’s sold luxury listings took a bit longer than the average home to find the right buyer. Example: The 4,117 ft.² home in Coyote Springs, listed for $131.14 per square foot … closed escrow 117 days later for $128.01 per square foot. More value than price per square foot dependent; the home in Red Mountain Estates is a perfect illustration. Originally listed for $749,900 – or $279.92 per square foot – that listing closed escrow after only 28 days, for $268 per square foot.
Southern Utah Weekly Real Estate Statistics for June 19, 2017
Eighteen of last week’s 33 successful real estate transactions in Washington County received their Real Estate Purchase Contract (REPC), concluded their contingency period (due diligence), and closed escrow within 30 days.
And because perceived value matters, the remaining 15 Southern Utah real estate listings took significantly longer to find their respective buyer and close escrow: 6 closed escrow b/t 31-60 days; 6 closed in under 90 days; 2 took up to 120 days, and 1 was on the Washington County Board of Realtors (WCBR) Multiple Listing System (MLS) for more than 6 months.
Selling $12,824,100 worth of prime Washington County real estate for $12,576,770 – 54.55% of last week’s closed escrows completed their transaction in less than 30 days, receiving 98.10% of the Original List Price (OLP).
Top Five Sold Southern Utah Real Estate Listings
- List Price: $ 1,175,000 – Sold Price: $1,140,000 – Days on Market: 47
- List Price: $799,900 – Sold Price: $750,000 – Days on Market: 86
- List Price: $749,900 – Sold Price: $718,500 – Days on Market: 28
- List Price: $550,000 – Sold Price: $550,000 – Days on Market: 28
- List Price: $539,900 – Sold Price: $527,000 – Days on Market: 127
Southern Utah Weekly Real Estate Report and Statistics: June 19, 2017
Last week’s 33 closed escrow occurred in the following Washington County subdivisions: Avalon Meadowood, Bloomington country club, Buena Vista, Chapel Ridge, Canyon Terrace Estates, Coyote Springs, Estates at Hidden Valley, Fieldstone, Foster Hills South, Graham, Mill Creek Cottages, Monterey Stonebridge, Mulberry Estates, Paiute Springs at Entrada, Red Mountain Estates, The Ridge at St. George, Riverstone, Road Runner Ridge, Sage Creek, Santa Clara Heights, Santa Fe Red Cliffs, Shadow Bluff, Shadow Mountain, Stone Cove, Stone Point Townhomes, Sunriver, and The Vistas at Entrada.
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.
(All photos provided by the WCBR, FlexMLS, and the listing Realtor)
* Information is deemed to be reliable but is not guaranteed. © 2016 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Monday, June 19, 2017