St. George Utah Real Estate Market Statistics
St. George, Utah – its Monday, December 1, 2014 and the Washington County Board of Realtor’s FlexMLS system have just released last month’s real estate statistics for the Southern Utah market.
While the St. George Utah real estate market has improved in many ways over the past 12 months, some sectors still remain afflicted by fear of the unknown. Briefly summarizing the below data sets for the greater St. George real estate market, we begin to get a clearer picture of where the market is headed.
As is true in most real estate markets, some sellers have an inflated sense of their homes value – and will pressure their Realtor into listing their property at a price per square foot that is not supported by the markets activity. That difference promotes the chasm between the number of listings on the MLS (currently just north of 1,800) versus the number of sold properties during the past 30 days – totaling approximately 215.
Regardless of their rationale, over the past 30 days, the average list price for a St. George property has hovered around $270,000. While inexpensive on a national level, it leaves a lot of room for negotiations when considering the median sales price of a St. George home is approximately $210,000.
St. George Utah real estate statistics for the month of November: The markets absorption rate for November remained high at 6.7 months, and the average list price was $368,637 during the past 30 days. Regardless of the seller’s asking price, St. George Utah’s average sales price was $260,881, nearly $100,000 less than the average list price. Meanwhile, the median sales price of a St. George Utah listing remained affordable at $209,500, accumulating an average day’s on market of 103 days.
While not overly impressive on a national scale, these numbers represent significant progress from November 2013 – see below charts.
As 2014 rapidly heads for the finish line … Southern Utah’s real estate market has made some significant improvements over the past 12 months.