St. George Realtors sold 266 real estate listings during the month of October. Successfully selling 45 more homes/condominiums than the month prior, agents with the Washington County Board of Realtors closed escrow (COE) on $93,638,907 worth of Southern Utah real estate between Oct. 1 to Oct. 31.
Southern Utah – St. George Realtors have been extremely busy as we head into the holiday season. From October 1 through October 31, the areas active Realtors have successfully sold ( a.k.a., closed escrow on) 266 real estate listings in Washington County, Utah.
For October, Southern Utah’s Top Five real estate listings closed escrow between $1.2 million and $2.65 million.
Of October’s 266 sold real estate listings, 148 successfully closed escrow (COE) in less than 30 days; 49 COE in less than 60 days; 23 took less than 90 days; 22 closed escrow in less than 120 days – which left 24 real estate listings on the MLS for more than 121 days.
Washington County Real Estate Statistics: October 2017
The Average List Price of a home in southern Utah for October was $440,525. Open for negotiations – as is true with all things real estate – the Average Sales Price for the same 30 day period was $309,354. While some of Southern Utah’s luxury real estate listings languished on the Multiple Listing Service (MLS), the average home spent a total of 61 Collective Days on Market.
Top Five Sold Southern Utah Real Estate Listings for October
List Price: $2,800,000 – Sold Price: $2,650,000 – Days on Market: 30
List Price: $1,465,000 – Sold Price: $1,461,044 – Days on Market: 09
List Price: $1,499,000 – Sold Price: $1,450,000 – Days on Market: 205
List Price: $1,280,000 – Sold Price: $1,200,000 – Days on Market: 90
List Price: $1,200,000 – Sold Price: $1,200,000 – Days on Market: 05
Southern Utah Real Estate by the Numbers
As of October 31, 2017, Southern Utah’s realtors have sold a total of 4,120 MLS listings. A 6.9% uptick on a year-over-year basis, by this time last year Realtors with the Washington County Board had sold 3,855. While there are currently 43 real estate listings on the MLS between $1 million and $1,499,999, so far this year … only 5 listings for more than $1 million have successfully sold in Washington County. During the month of October, Southern Utah Realtors put 550 new listings on the MLS, 450 listings in escrow (‘Pending’), and sold a total of 400 listings – including vacant lots in land and commercial buildings – in Washington County.
October’s Average and Median Sales Price
Average Sold Price: $309,354 – Up 15.51% Year-Over-Year
Median Sold Price: $267,684 – Up 9.14% Year-Over-Year
St. George, Utah Real Estate Absorption Rate
As the clock struck 12:01 a.m. on Halloween, Southern Utah had an absorption rate of approximately 3.53. A relatively low number, it represents how many months worth of existing real estate inventory are currently for sale on the WCBR MLS system.
St. George Utah Real Estate Trends
After greater scrutiny of St. George’s October real estate statistics, provided by the WCBR FlexMLS system, we see the active Average List Price continued to vacillate. Influenced by the dollar value of the listings taken during a 30 day period, October’s Average List Price for a single-family residential home was $440,525 – which represents a 2.4% increase 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 Sunday, November 5, 2017.