The 2016 real estate market witnessed a double-digit increase in ‘Sold Volume’ and closed real estate ‘Contracts’ on a year-over-year basis for the greater St. George area; a.k.a. Washington County.
With 2016 just about over, there seems little doubt it will go down in history as perhaps one of the more bizarre election cycles in modern history. Providing a national distraction for the media at large, most missed the real good news, the solid real estate recovery occurring around the country.
Market statistics show Washington County Realtors increased their closed escrows for condominium/townhomes, modular/manufactured homes, new construction, and single-family residential units by 14% when compared to 2015. While some municipalities performed stronger than others, the overarching market statistics show production shrank the existing inventory and heightened the importance of buyers coming prepared. Particularly as all-cash buyers make the bidding/negotiation process a tad more interesting and competitive.
Per the 2016 market statistics, the numbers clearly show Hurricane Valley production floated the greater Washington County real estate market. With more water allocated for future construction and more available land to develop, this should be a continuing trend for the foreseeable future.
Down 3% from 2015 in total active real estate listings (with 48 hours to go), the Washington County Board of Realtors is reporting a total of 8,104 active listings having been taken so far this year by WBCR Realtors. Despite the decline in total active listings, the total volume of real estate sold in Washington County increased by a whopping 18%. Increasing 2015’s average sales price of $253,869 by 7 percent to $271,971.
Sold Single-Family Residential Real Estate Listings:
Sold New Construction Real Estate Listings:
Sold Modular/Manufactured Home Real Estate Listings:
Sold Condominium Townhome Real Estate Listings:
All information is deemed reliable but is not guaranteed. This 2016 year-over-year comparison of the southern Utah real estate market was prepared on Thursday, December 29, 2016.