St. George Utah Real Estate Market Statistics: January 2015 Update

The greater St. George Utah real estate market remained strong during the first month of 2015 – thanks to the continued low interest rates, surging enthusiasm in real estate as an investment vehicle, as well as Fannie Mae’s & Freddie Mac’s 3% down payment program for today’s marginal  homebuyers. As the number of St. George Utah real estate listings continued to decline on the Washington County Board of Realtors MLS system during January 2015, the active median list price continued to go up and the sold median price of St. George Utah real estate declined slightly.

St. George Utah Real Estate Market Statistics: January 2015 Update

St. George Utah Real Estate Market Statistics: January 2015 Update

Summary of statistics: January 2015 vs. January 2014 | Percentage of change

Absorption rate         5.35                            4.71                            +13.59%

Average list price      $381,378                   $383,166                       -.47%

Median list price       $309,000                   $298,950                  +3.36%

Average sales price   $260,837                   $267,892                  -2.63%

Median sales price    $217,500                   $227,750                  -4.50%

Average days on market 106                     110                              -2.64%

Median days on market     50                      40                               +25%

View the entire summary of statistics from the Washington County Board of Realtors below…

Washington County Board of Realtors Summary of Statistics

Washington County Board of Realtors Summary of Statistics

On a month over month comparison basis of January 2014 to January 2015, we see that the average sales price dipped slightly from $267,892 in January 2014 to $260,837 for January 2015. Representing a 2.63% decline in the overall sales price for the greater St. George real estate market.

While January 2015’s overall days on market has increased for St. George Utah real estate listings, Southern Utah’s absorption rate – the number of months it would take to consume all of St. George’s real estate inventory – continued to decline to just over five months worth of inventory.

Dependent on the dollar amount of the sold St. George Utah real estate listings we’re referencing – some sectors did better than others when it came to obtaining 100% of their original list price in an acceptable real estate purchase contract. Again, view the summary statistics provided by the Washington County Board of Realtors within this blog post.

Boding well for the Southern Utah real estate market, and remaining on par with January 2014, the number of St. George Utah real estate listings sold during January 2015 held steady at 56 for the first month of 2015.

Of the 56 real estate listings sold during January 2015 in the greater St. George market, the numbers break down like this:

2  St. George Utah real estate listings sold for between $100,000 – $119,000

1   St. George Utah real estate listings sold for between $120,000 – $139,999

8  St. George Utah real estate listings sold for between $140,000 – $159,999

3 St. George Utah real estate listings sold for between $160,000 – $179,999

4 St. George Utah real estate listings sold for between $180,000 – $199,999

16 St. George Utah real estate listings sold for between $200,000 – $249,999

3 St. George Utah real estate listings sold for between $250,000 – $299,999

13 St. George Utah real estate listings sold for between $300,000 – $399,999

2 St. George Utah real estate listings sold for between $400,000 – $499,999

3 St. George Utah real estate listings sold for more than $500,000

St. George Utah Real Estate Market Statistics: January 2015 Update

St. George Utah Real Estate Market Statistics: January 2015 Update

With interest rates remaining near historic lows and the federal government’s newly implemented 3% down programs – there’s never been a better time to purchase St. George Utah real estate.

Should you have any questions about the southern Utah real estate market in St. George, or if you would like more information regarding any of the St. George Utah real estate listings found on www.UtahMLSrealestate.com – please do not hesitate to call or email me. I can easily be reached at (435) 619–2206, or just write me a quick email (435mls@gmail.com) outlining your questions, concerns or search criteria … and I will respond immediately.

* The above St. George Utah real estate summary of statistics is provided by the Washington County Board of realtors and their MLS system: This data excludes homes sold as “For Sale by Owners” and any other non-published real estate listings. Additionally, Alex Yeager and Fidelity Real Estate St. George are not responsible for the data and does not guarantee its accuracy.