SUHPI: Southern Utah Home Price Index

SUHPI: Southern Utah Home Price Index

Just What Is The Southern Utah Home Price Index?

 

Established utilizing specific data sets from the WCBR’s MLS® (Multiple Listing Service®), the Southern Utah Home Price Index (a.k.a., SUHPI) provides individuals the ability to better understand our very important real estate trends, and how they affect the greater St. George Utah home prices.

 

Understanding that Utah is nondisclosure state – meaning it does not share the dollar amount of closed escrows with third parties; think Zillow, Realtor.com, Trulia, Redfin, or any other third party provider. Our Southern Utah Home Price Index has combined real MLS sold data points gathered directly from the WCBR’s MLS, combined with my real estate experience and skills to create the Southern Utah Home Price Index – SUHPI.

 

The SUHPI allows southern Utah’s homebuyers and sellers to better appreciate these very important real estate trends, and just how they might affect the market value of your home. More significantly, the SUHPI will help Southern Utah’s homebuyers and sellers strategize their next sale or purchase of Washington County real estate. Providing factual data for one of life’s more critical decisions.

 

How does the Southern Utah Home Price Index work?

 

The SUHPI will assist potential buyers and sellers in evaluating southern Utah’s subtle changes in housing prices over time, including fluctuations in: Overall housing values for the St. George Utah real estate market, values for specific housing sectors in a given geographical location, in addition to the broader southern Utah real estate market.

 

This information, taken straight from the Washington County Border Realtors Multiple Listing Service®, will provide critical insights and assist buyers & sellers more easily establish the true market value of a home.

 

Doing the math is simple…

 

The Southern Utah Home Price Index tracks critical fluctuations in Washington county home prices by comparing specific price points at a given time, establishing price levels from a base (read: referenced) period.

 

From the base period, the value will always be considered 100.

 

Example: if the base period for a Utah single-family residential home is 2005, and the SGUHPI value for that home in December of 2011 is 129.1, you know that the value of single-family homes have increased 29.1%, as compared to 2005 (129.1 − 100 = 29.1%).

 

So how does Southern Utah Home Price Index  help me?

 

The SUHPI is not intended to forecast the specific value of an individual piece of property. Rather, because it is based on factual data provided by the Washington County Border Realtors MLS® system — long considered the most comprehensive and accurate source of real estate data in southern Utah — the Southern Utah Home Price Index provides a slightly more accurate picture of home price trends for the greater St. George Utah real estate market.

SUHPI: Southern Utah Home Price Index – May 2015

St. George, Utah – its Wednesday June 3, 2015, and the Southern Utah Home Price Index (SUHPI) for May 2015 increased by 7.99% from the same time last year, according to the Washington County Board of Realtors MLS system. Washington County’s housing affordability remains steady: While Utah’s overall median home value remained affordable at $209,300, […]

SUHPI: Southern Utah Home Price Index – March 2015

St. George, Utah – its Wednesday, April 1, 2015, and the Southern Utah Home Price Index (SUHPI) for March increased by 4.42% from the same time last year, according to the WCBR (Washington County Board of Realtors) MLS system. Washington County’s housing affordability remains steady: While the great State of Utah’s overall median home value […]

SUHPI: Southern Utah Home Price Index – March 2015

St. George, Utah – its Monday, March 2, 2015, and the Southern Utah Home Price Index (SUHPI) has decreased by 6.48% from this time last year, according to the Washington County Board of Realtors MLS data. Southern Utah’s Housing Affordability Is Up: While the great State of Utah’s overall median home value remained affordable at […]