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Southern Utah Sales Report: Realtors Sell 309 Homes In July

The July 2019 sales statistics are in, southern Utah Realtors sold 309 homes/condos in 31 days.

St. George Utah –   Between July 1 and July 31, 2019, Realtors with the Washington County Board successfully closed escrow on just over $106 million in real estate transactions.

Southern Utah Realtors in Washington County sold 309 homes/condos during June 2019, according to MLS statistics from the Washington County Board of Realtors (WCBR) and it’s FlexMLS system. Categorized as either a single-family residential unit or a condominium/townhome, 160 of July’s 309 closed escrow’s occurred less than 30 days.

 Ignoring the sale of vacant lots and land, commercial property, manufactured housing and fractional ownership, July’s MLS statistics provided by the WCBR and the Flex system, indicates the top sale in the last 30 days occurred in the subdivision of Lion’s Head Estates at Green Springs for $1.25 million. The property was first listed on the WCBR multiple listing service on 4/23/2019 and closed escrow on 7/23/2019.

 Per the WCBR’s sales statistics for July 2019, the ‘Average’ price of a home sold in southern Utah over the past 30 days was $343,491. Also, since July 1, the ‘Median List Price’ for a home in southern Utah has been roughly $315,000, with those homes typically selling for approximately $312,000 – or $170 per square foot. Between July 1 and July 31, Realtors with the Washington County Board successfully closed escrow on 309 real estate transactions valued at $106,138,795.

St. George Utah home prices July 2019

Southern Utah’s homes were closing quick during the month of July. In Washington County, 51.8 percent of all single-family residential / condominium sales occurred within 30 days of being placed on the MLS, according to FlexMLS. And of real estate listings that sold within the first 30 days, the owners received an average Sales Price to Original List Price ratio of 99 percent.

 July 2019 statistics:

Top Five Sold Real Estate Listings

  • List Price: $1,250,000 – Sold Price: $1,250,000 – Days on Market: 1
  • List Price: $995,000 – Sold Price: $967,500 – Days on Market: 48
  • List Price: $898,000 – Sold Price: $835,000 – Days on Market: 122
  • List Price $849,900 – Sold Price: $805,000 – Days on Market: 39
  • List Price: $760,000 – Sold Price: $740,000 – Days on Market: 106

Top five real estate sales for southern Utah, July 2019

Days on Market

  • 160 southern Utah real estate listings sold in less than 30 days
  • 66 southern Utah real estate listings sold in less than 60 days
  • 37 southern Utah real estate listings sold in less than 90 days
  • 18 southern Utah real estate listings sold in less than  120 days
  • 28 southern Utah real estate listings sold in less than  121+ days

Washington County real estate statistics

Real Estate Activity for Washington County

As of July 31, 2019, Realtors with the WCBR have sold 3,063 real estate listings for the year. Down 4.5 percent on a year-over-year basis, in 2018 Realtors with the local board successfully closed 3,209 deals by July 31.

Washington County real estate activity

July Real Estate Absorption Rate

As of Thursday, August 1, there are approximately 736 single-family residential listings and/or condominium/townhomes for sale in the greater St. George area. The WCBR Market Summary for July 2019 indicates our absorption rate is just over 3.5 months. In other words, if no new listings were taken and placed on the Washington County Board of Realtors MLS system – our inventory would be depleted within approximately 3 months.

St. George, Utah, July real estate absorption rate

 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 Thursday, August 1, 2019

St. George Utah Real Estate Market Statistics

Southern Utah Real Estate Market Statistics: March 2017

 According to Market Statistics, Southern Utah’s inventory is down and prices are up. It Saturday, April 1, 2017 and here is your March real estate report for the greater St. George area.

The southern Utah real estate market’s Absorption Rate for the greater St. George area is at a brand-new low, according to new data provided by the Washington County Board of Realtors. The lack of inventory combined with the concern over looming interest rate hikes has driven existing inventory down by double digits on a year-over-year basis. With the average Days on Market holding steady since the beginning of the year and the Sold to List Ratio spiking dramatically during March 2017, it’s safe to say the increase in the Average List Price hasn’t scared today’s buyer away.

Southern Utah’s real estate market Absorption Rate, measured in months, has declined 30.22% on a year-over-year basis. At just 3.44 for the month of March, that Absorption Rate number represents how many months before Washington County would run out of listings – provided no new listings were taken. Obviously, that won’t happen. However, following the law of supply and demand, the lack of inventory has definitely led to a spike in appreciation for southern Utah homeowners.

The Median List Price for a home in the southern Utah real estate market for March 2017 was $343,999. Up 9.22% from March 2016, when the median list price was $314,950 – this nearly 10% uptick underscores strong self-confidence. Though wanting and getting are two different things (Read:” List Price”), the Average Sale Price in Washington County increased by more than 10% since this time last year.

The Average Sale Price for a home in the southern Utah real estate market for March 2017 was $295,537. A solid 11.72% increase over March 2016, when the average sales price was $264,539, this double-digit growth is nothing compared to what happened to those homes listed just under $1 million in southern Utah. Spiking 166.7% for March, Washington County real estate listings between $750,000 and $999,999 are up 128.6% on a year-over-year basis.

  Southern Utah Real Estate Market Statistics: March 2017

 Washington County Real Estate Market Statistics

Southern Utah Real Estate Market Statistics

 

 Washington County Summary Real Estate Market Statistics March 2017

  • Mar-17           Mar-16           % Chg 2017 YTD      2016 YTD      % Chg
  • Absorption Rate        3.44    4.93    -30.22 3.46    5.05    -31.49
  • Average List Price     $452,538       $418,146       8.22    $390,567       $364,097       7.27
  • Median List Price      $343,999       $314,950       9.22    $309,900       $284,900       8.78
  • Average Sale Price    $295,537       $264,539       11.72  $284,807       $251,086       13.43
  • Median Sale Price     $254,000       $228,250       11.28  $245,000       $220,500       11.11
  • Average CDOM          78       88       -11.36 78       91       -14.29
  • Median CDOM           28       40       -30.00 37       52       -28.85

 

Sold Southern Utah Real Estate Listings

  • This Month    Year to Date

  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        2          6          -66.7   11       20       -45.0
  • 50,000-99,999          10       25       -60.0   32       62       -48.4
  • 100,000-149,999     34       63       -46.0   79       143     -44.8
  • 150,000-199,999     74       68       8.8       194     168     15.5
  • 200,000-249,999     91       78       16.7    214     176     21.6
  • 250,000-349,999     112     112     0.0       258     230     12.2
  • 350,000-449,999     59       49       20.4    131     97       35.1
  • 450,000-549,999     21       14       50.0    51       40       27.5
  • 550,000-649,999     7          10       -30.0   18       16       12.5
  • 650,000-749,999     8          4          100.0  20       7          185.7
  • 750,000-999,999     8          3          166.7  16       7          128.6
  • 1,000,000-1,499,999           2          0          N/A     3          0          N/A
  • 1,500,000-1,999,999           0          0          0.0       1          0          N/A
  • 2,000,000-2,499,999           0          1          -100.0 0          1          -100.0
  • 2,500,000-2,999,999           1          1          0.0       1          1          0.0
  • 3,000,000+    0          0          0.0       0          0          0.0
  • Totals  429     434     -1.2     1029   968     6.3

 

Pending Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        4          3          33.3    13       14       -7.1
  • 50,000-99,999          11       22       -50.0   30       68       -55.9
  • 100,000-149,999     41       37       10.8    105     131     -19.8
  • 150,000-199,999     84       83       1.2       209     214     -2.3
  • 200,000-249,999     111     95       16.8    279     235     18.7
  • 250,000-349,999     158     133     18.8    369     314     17.5
  • 350,000-449,999     67       54       24.1    174     125     39.2
  • 450,000-549,999     39       16       143.8  88       56       57.1
  • 550,000-649,999     12       10       20.0    27       25       8.0
  • 650,000-749,999     7          5          40.0    19       17       11.8
  • 750,000-999,999     5          6          -16.7   26       13       100.0
  • 1,000,000-1,499,999           2          2          0.0       8          2          300.0
  • 1,500,000-1,999,999           0          1          -100.0 3          1          200.0
  • 2,000,000-2,499,999           2          0          N/A     2          1          100.0
  • 2,500,000-2,999,999           0          0          0.0       1          1          0.0
  • 3,000,000+    0          0          0.0       0          0          0.0
  • Totals  543     467     16.3    1353   1217   11.2

 

Active Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        17       23       -26.1   33       51       -35.3
  • 50,000-99,999          36       74       -51.4   79       156     -49.4
  • 100,000-149,999     53       79       -32.9   162     245     -33.9
  • 150,000-199,999     107     180     -40.6   313     425     -26.4
  • 200,000-249,999     151     227     -33.5   451     534     -15.5
  • 250,000-349,999     348     439     -20.7   809     853     -5.2
  • 350,000-449,999     228     275     -17.1   469     481     -2.5
  • 450,000-549,999     147     129     14.0    290     235     23.4
  • 550,000-649,999     70       83       -15.7   116     139     -16.5
  • 650,000-749,999     48       53       -9.4     83       84       -1.2
  • 750,000-999,999     59       78       -24.4   105     112     -6.2
  • 1,000,000-1,499,999           42       36       16.7    56       44       27.3
  • 1,500,000-1,999,999           18       22       -18.2   25       31       -19.4
  • 2,000,000-2,499,999           7          5          40.0    9          8          12.5
  • 2,500,000-2,999,999           9          9          0.0       11       10       10.0
  • 3,000,000+    5          8          -37.5   8          9          -11.1
  • Totals  1345   1720   -21.8   3019   3417   -11.6

 

New Southern Utah Real Estate Listings

  • This Month    Year to Date
  • 2017   2016   % Chg 2017   2016   % Chg
  • 0-49,999        7          7          0.0       16       22       -27.3
  • 50,000-99,999          26       20       30.0    49       69       -29.0
  • 100,000-149,999     42       39       7.7       99       137     -27.7
  • 150,000-199,999     55       80       -31.2   197     247     -20.2
  • 200,000-249,999     122     113     8.0       307     311     -1.3
  • 250,000-349,999     158     126     25.4    476     436     9.2
  • 350,000-449,999     80       79       1.3       259     250     3.6
  • 450,000-549,999     66       39       69.2    160     118     35.6
  • 550,000-649,999     18       12       50.0    60       65       -7.7
  • 650,000-749,999     10       9          11.1    41       38       7.9
  • 750,000-999,999     10       9          11.1    45       50       -10.0
  • 1,000,000-1,499,999           7          1          600.0  24       20       20.0
  • 1,500,000-1,999,999           3          2          50.0    10       6          66.7
  • 2,000,000-2,499,999           0          0          0.0       1          1          0.0
  • 2,500,000-2,999,999           1          1          0.0       4          3          33.3
  • 3,000,000+    0          0          0.0       3          3          0.0
  • Totals  605     537     12.7    1751   1776   -1.4

 

Information is deemed to be reliable, but is not guaranteed. © 2017 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Saturday, April 01, 2017 5:33 AM.

 

March 20, 2017 Real Estate Report Washington County

Southern Utah Weekly Real Estate Report: March 20, 2017

Since the beginning of last week, 47 single-family residential listings and/or townhomes/condos have sold in Washington County. As springtime 2017 warms up here in St. George, our weekly Southern Utah Real Estate Report shows strong activity from Entrada to Sunbrook in the greater St. George area.

St. George, Utah Weekly Real Estate Statistics

 March 20, 2017

St. George Utah Real Estate Absorption Rate: Click Image to View Full Report

It’s Monday, March 20, 2017, and the current ‘Absorption Rate’ for southern Utah’s real estate inventory is 3.52 months. Meaning, if no other properties were listed – Washington County and its board of Realtors would run out of inventory in just under four months. While the average list price for February 2017 was $458,153, the average sales price was $280,307.

Over the past week, those homes that fell into the ‘Average’ category had a list price of approximately $318,464 and closed escrow for roughly $312,799. Spending anywhere from 72 – 86 Collective Days on Market (CDOM), those average priced listings sold for approximately $156 per square foot.

Top Five Southern Utah Real Estate Sales

List Price: $880,000 – Sold Price: $804,000 – Days on Market: 577

List Price: $581,000 – Sold Price: $576,169 – Days on Market: 01

List Price: $599,000 – Sold Price: $575,000 – Days on Market: 23

List Price: $585,000 – Sold Price: $575,000 – Days on Market: 07

List Price: $499,999 – Sold Price: $489,500 – Days on Market: 24

 Weekly Real Estate Report And Statistics

March 20, 2017 Utah Real Estate Report, St. George

Southern Utah Weekly Real Estate Report: March 20, 2017

 Price | Status | MLS #List PriceSold PriceSold DateDays On MarketList/Sold Price Sqft

1

$804,000
2331 W Entrada Trail 101
St George, UT 84770
Closed / 15-168471  

Status Change

880,000804,00003/15/2017577276.12 / 252.27

2

$576,169
1636 W Wild Rose Circle
St George, UT 84790
Closed / 17-181582  

Status Change

581,000576,16903/14/20171289.63 / 287.22

3

$575,000
139 N Painted Hills Drive
Ivins, UT 84738
Closed / 17-181660  

Status Change

599,000575,00003/14/201723217.9 / 209.17

4

$575,000
1759 E Boulder Springs Drive
St George, UT 84790
Closed / 17-182821  

Status Change

585,000575,00003/17/20177133.38 / 131.1

5

$489,500
3455 E Crimson Fairway
Washington, UT 84780
Closed / 17-181699  

Status Change

499,999489,50003/17/201724177.62 / 173.89

6

$476,015
3794 S 2640 E
St George, UT 84790
Closed / 17-183243  

476,015476,01503/13/20173112.06 / 112.06

7

$446,000
335 W Redstone Court
Ivins, UT 84738
Closed / 16-179374  

Status Change

459,900446,00003/17/2017147174.27 / 169

8

$444,500
2758 Bella Sol Drive
Santa Clara, UT 84765
Closed / 16-180798  

449,900444,50003/13/201786203.85 / 201.4

9

$439,000
2371 E 2830 S
St George, UT 84790
Closed / 17-182380  

429,969439,00003/13/20171197.92 / 99.98

10

$432,500
1632 E 90 S
St George, UT 84790
Closed / 16-179348  

Status Change

450,000432,50003/15/2017142179.86 / 172.86

11

$420,922
1152 W RIVERSTONE Circle
St George, UT 84790
Closed / 17-183207  

Status Change

420,900420,92203/16/20177194.41 / 194.42

12

$419,900
2156 E 3480 S
St George, UT 84790
Closed / 17-181713  

419,900419,90003/13/201719152.75 / 152.75

13

$407,373
1391 W Whitestone Drive
St George, UT 84790
Closed / 17-181581  

Status Change

407,900407,37303/14/20171273.57 / 273.22

14

$385,000
1035 N SILVER LODE Avenue
Washington, UT 84780
Closed / 16-181176  

389,900385,00003/14/201772160.58 / 158.57

15

$354,581.5
3800 N Paradise Village Drive 74
Santa Clara, UT 84765
Closed / 16-175329  

340,900354,581.503/14/201736162.49 / 169.01

16

$340,000
112 S BRIDGE POINT Way
St George, UT 84770
Closed / 15-171568  

349,779340,00003/13/2017282135.89 / 132.09

17

$335,000
2416 E 2860 S
St George, UT 84790
Closed / 16-180935  

Status Change

334,900335,00003/15/201778145.36 / 145.4

18

$327,100
3288 E 3230 Street S
St George, UT 84790
Closed / 16-178287  

Status Change

326,500327,10003/16/2017187165.9 / 166.21

19

$319,900
1445 E MESA VIEW Lane
Washington, UT 84780
Closed / 16-178982  

Status Change

319,900319,90003/17/20174099.44 / 99.44

20

$314,400
4948 N Turnberry Court 610
St George, UT 84770
Closed / 17-181601  

Status Change

309,900314,40003/15/201719171.03 / 173.51

21

$312,000
1814 W SUNSTAR Drive
St George, UT 84790
Closed / 16-178112  

Status Change

320,000312,00003/17/2017144182.65 / 178.08

22

$306,500
1009 W 4100 S
St George, UT 84770
Closed / 16-180410  

Status Change

315,000306,50003/16/2017102165.44 / 160.98

23

$298,000
2212 S Chippenham Court
St George, UT 84770
Closed / 16-177699  

307,500298,00003/14/2017170166.85 / 161.69

24

$297,954
3253 E 3230 S
St George, UT 84790
Closed / 17-183342  

Status Change

297,954297,95403/16/201713159.16 / 159.16

25

$275,000
1140 Wesley Powell
St George, UT 84790
Closed / 17-181686  

Status Change

289,900275,00003/17/201745110.99 / 105.28

26

$274,900
2174 S Alison Row
St George, UT 84790
Closed / 16-176222  

275,900274,90003/14/2017275125.24 / 124.78

27

$260,000
959 CHURREA Drive
Washington, UT 84780
Closed / 17-182517  

Status Change

259,900260,00003/17/20176138.69 / 138.74

28

$244,900
414 N 2070 E
St George, UT 84790
Closed / 17-182682  

244,900244,90003/13/20176154.41 / 154.41

29

$236,500
480 Vermillion Avenue
St George, UT 84790
Closed / 17-181894  

250,000236,50003/13/201723138.73 / 131.24

30

$228,250
2586 E 90 S
St George, UT 84790
Closed / 17-181569  

235,000228,25003/13/201751163.19 / 158.51

31

$226,900
1894 E 40 North Street
St George, UT 84790
Closed / 16-179697  

226,900226,90003/14/2017119136.03 / 136.03

32

$225,000
187 N Westridge #129
St George, UT 84770
Closed / 17-181955  

Status Change

224,900225,00003/17/201717128.96 / 129.01

33

$225,000
1568 EL VISTA
Santa Clara, UT 84765
Closed / 17-182719  

Status Change

219,900225,00003/16/20172173.42 / 177.44

34

$215,000
1085 HEMLOCK Circle
St George, UT 84790
Closed / 16-178137  

229,900215,00003/13/2017185124.34 / 116.28

35

$213,000
345 N 2450 E #199
St George, UT 84790
Closed / 17-181793  

225,000213,00003/13/201715143.31 / 135.67

36

$199,000
1961 E 110 S
St George, UT 84790
Closed / 17-182250  

Status Change

219,900199,00003/16/20176161.69 / 146.32

37

$190,000
737 S 380 E
Ivins, UT 84738
Closed / 17-182404  

Status Change

195,000190,00003/17/20171172.41 / 167.99

38

$179,700
2045 S 1400 #7
St George, UT 84790
Closed / 17-182269  

Status Change

179,900179,70003/16/20171115.39 / 115.27

39

$172,900
970 E 700 S #9
St George, UT 84790
Closed / 17-182339  

169,900172,90003/14/20172122.85 / 125.02

40

$170,100
1175 E 900 S #9
St George, UT 84790
Closed / 17-182330  

169,900170,10003/14/201713145.84 / 146.01

41

$168,000
280 S Luce Del Sol #215
St George, UT 84770
Closed / 16-179823  

168,000168,00003/14/201799133.33 / 133.33

42

$166,900
555 DIAGONAL Street #6
St George, UT 84770
Closed / 17-181896  

164,900166,90003/14/201713140.7 / 142.41

43

$163,000
290 W Buena Vista #36
Washington, UT 84780
Closed / 17-182048  

163,000163,00003/13/201710121.55 / 121.55

44

$152,700
1050 W RED HILLS Parkway #121
Washington, UT 84780
Closed / 16-180900  

Status Change

159,900152,70003/16/201793152.43 / 145.57

45

$150,000
575 S 1100 E #18
St George, UT 84790
Closed / 16-180625  

Status Change

149,000150,00003/14/201782155.86 / 156.9

46

$148,500
971 W BLOOMINGTON Drive S
St George, UT 84790
Closed / 16-179537  

Status Change

149,500148,50003/16/20178598.75 / 98.08

47

$120,000
1845 W Canyon View Drive #1409
St George, UT 84770
Closed / 16-181178  

Status Change

125,000120,00003/15/201751248.02 / 238.1

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.

(All photos provided by the WCBR, FlexMLS, and the listing Realtor)

* Information is deemed to be reliable but is not guaranteed. © 2016 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Monday, March 20, 2017

Southern Utah Real Estate Statistics

October St. George Utah Real Estate Market Statistics: So Far, So Good!

St. George, Utah – it’s October 20, 2016, and since the beginning of the year, real estate activity in southern Utah has been on a tear. With a 7-point increase in closed escrows for condominiums/townhomes, and a 16-point increase for single-family listings placed under contract, 2016 will be remembered fondly by most Realtors on the Washington County Board.

With the third debate from the 2016 election thankfully over, it’s time to get back to the business at hand, crunching numbers, disseminating information and preparing for the holidays.

Single-family residential listings statistics – under contract

Since January 1, 2016, there has been a total of 1963 single-family residences placed under contract in the greater St. George Utah area, representing a 16-point increase on a year-over-year basis from 2015’s 1688 homes placed under contract.

 October 2016 Southern Utah real estate statistics

Single-family residential listings statistics – closed escrows

By this point during 2015, there had been a total of 1619 single-family residential listings that successfully COE (closed escrow), as compared to this year’s 1799 closed escrows – representing an 11% increase in close escrows.

Dropping from a 5.45 to 4.13, Southern Utah’s real estate absorption rate as declined 24.63% on a year-over-year basis. Meaning, if no other listings were to be made available for sale on the multiple listing service(MLS) – we would run out of inventory and 4.13 months. Understanding that supply and demand dictates price, this reduced inventory has led to an average year to date list price of $345,091 for 2016, and an average sales price of $269,762.

Southern Utah Real Estate Summary Statistics

washington_county_real-estate_statistics_october_2016

  • Absorption Rate 4.13
  • Average list Price $428,782
  • Median List Price $324,900
  • Average Sales Price $277,749
  • Median sales price $237,950
  • Average Collective Days on Market 81
  • Median Collective Days on Market 29

As the holiday’s approach and our buyer’s retreat, the total number of available residential real estate listings in southern Utah has dipped below 1800, representing just over four months worth of available inventory. Thanks to historically low-interest rates, Southern Utah’s real estate market is seeing prices go up, the number of listings going down, and the total Days On Market for the average real estate listing holding steady at just under 80 days. Causing southern Utah’s real estate values to appreciate nicely since the beginning of the year.

southern_utah_real_estate_statistics

 Washington County real estate report October 2016

With southern Utah’s real estate inventory depleted and buyers anxious, we see 370 out of 395 deals successfully closed during September 2016. Of those successfully closed Washington County real estate listings, 5 occurred below $50,000, 12 occurred between 50,000 – $100,000, 43 real estate listings closed escrow between 100,000 – $149,999, 72 real estate listings closed escrow between $150,000 – $199,999, 67 real estate listings closed escrow between $200,000 – $249,999, 86 real estate listings successfully close escrow between $250,000 – $349,999, 41 Southern Utah real estate listing successfully closed escrow between $350,000 – $499,999, 20 St. George real estate listings successfully close escrow between $450,000 – $549,999, 13 Washington County real estate listing successfully closed escrow between $550,000 – $649,999, 5 real estate listings between $650,000 – $749,999 successfully closed escrow, 4 southern Utah real estate listings between $750,000 – $999,999 successfully closed escrow, and last but not least, just 2 southern Utah real estate listings during the month of September closed escrow between $1 million – $1,499,999.

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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.

(All photos provided by the WCBR, FlexMLS, and the listing Realtor)

* Information is deemed to be reliable but is not guaranteed. © 2016 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS on Thursday, October 20, 2016

St. George Utah Real Estate Market Statistics – September 2015

St. George, Utah – it’s Friday, October 2, 2015 and over the past 30 days the St. George Utah real estate market has continued to show incredible resilience.

From Sept. 1 through Oct. 1, 2015 there were 337 closed escrows per to the WCBR (Washington County Board of Realtors) MLS system. The below report is a brief summation of the past 30 days of real estate activity for the greater Southern Utah real estate market.

St. George Utah Real Estate Market Statistics – September 2015

St. George Utah Real Estate Market Statistics – September 2015

St. George Utah Real Estate Market Statistics – September 2015

 

St. George Supply And Demand

St. George Supply And Demand

St. George Supply And Demand:

As of October 2, 2015 there are currently 1,055 single-family residential listings available in Washington County; that total number includes both freestanding single-family units and townhomes/condominiums. As the dwindling stock of Washington County real estate listings remains at the low end of the spectrum, there is a noticeable and direct connection between the precipitous increase in the listing prices and the average sold price of a home in Southern Utah. Upon closer examination of the newest listings added to the MLS during the month of September, we see on a year-over-year basis a decline from 583 listings for September 2014, to 509 new listings for September of 2015. Additionally, during September 2015 there were 351 listings placed in escrow compared to 315 last year.

 

St. George Real Estate Prices

St. George Real Estate Prices

St. George Real Estate Prices:

Upon closer examination of the graph provided by the WCBR’s FlexMLS system, we see that the active average list price in southern Utah has continued to steadily increase since the beginning of the year to $399,749; representing 13.50% increase from September 2014. As available lots in St. George become harder to find and the cost of building supplies continues to increase, the average sales price for a home in Washington County has dramatically increased over the past 12 months. Shooting up 13.77% on a year-over-year basis, the average sales price for a home in southern Utah during September 2015 was $248,686 – up from 2014’s $218,595

 

 

St. George Absorption Rate

St. George Absorption Rate

St. George Absorption Rate:

Not to overstate the obvious; as Washington county’s real estate inventory continues to dwindle, the absorption rate – the rate at which existing inventory would be depleted should no new listings be placed on the MLS – continues to drop. Just 12 short months ago the Washington County MLS had approximately 8 months worth of inventory, as of August 2015 that number has declined to just over 5 months worth of available inventory. As buyers closely monitor the feds statements, listings for the “dog whistle” warning to potential homebuyers, worried buyers have been jumping off the indecisive fence and surrendering to the American dream.

 

 St. George Utah Real Estate Market Summary

 St. George Utah Real Estate Market Summary

St. George Utah Real Estate Market Summary

Absorption Rate: 5.07 months

Average List Price: $399,749

Median List Price: $299,900

Average Sales Price: $248,686

Median Sales Price: $220,000

Average Cumulative Days On Market (CDOM): 70

Median Cumulative Days on Market (CDOM): 39

he 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 Friday, October 2, 2015 4:20 AM.

St. George Utah Real Estate Market Statistics – August 2015

St. George, Utah – it’s Wednesday, September 2, 2015 and over the past 30 days the Washington County real estate market has shown incredible strength.

From August 1 through August 31, 2015 there were 308 closed escrows according to the Washington County Board of Realtors (WCBR) MLS system. Below is an abbreviated summary of the past 30 days of real estate activity for the greater St. George real estate market.

St. George Utah Real Estate Market Statistics – August 2015

St. George Utah Real Estate Market Statistics – August 2015

St. George Utah Real Estate Market Statistics – August 2015

 

 St. George Supply and Demand

St. George Supply and Demand

St. George Supply And Demand:

As of September 2, 2015 there are currently 1,023 single-family residential listings; that total number includes both freestanding single-family units and townhomes/condominiums. As Southern Utah’s real estate inventory remains at the low end of the spectrum, there is a discernable and direct correlation between the increase in both listing prices and the average sold price of a home in Washington County. Drilling down on the newest listings added to the MLS during the month of August, we see on a year-over-year basis, a decline from 562 listings for August 2014, to 488 new listings for August of 2015. Additionally, during August there were 349 listings placed in escrow compared to 337 last year.

 

 

 St. George Real Estate Prices

St. George Real Estate Prices

St. George Real Estate Prices:

Upon closer examination of the graph provided by the WCBR’s FlexMLS system, we see that the active average list price in southern Utah has continued to steadily increase since the beginning of the year to $399,323; representing 14.57% increase from August 2014. As buildable land in southern Utah becomes more scarce and the cost of building supplies continues to increase, the average sales price for a home in Washington County has dramatically increased over the past 12 months. Shooting up  28.49% on a year-over-year basis, meanwhile the average sales price for a home in southern Utah during August 2015 was $310,686 – up from 2014’s $241,797

 

 

 St. George Absorption Rate

St. George Absorption Rate

St. George Absorption Rate:

Stating the obvious; as Southern Utah’s real estate inventory continues to decrease, the absorption rate – the rate at which existing inventory would be depleted should no new listings be placed on the MLS – continues to drop as well. Just 12 short months ago the Washington County MLS had an inventory that was approximately 7 months deep, as of August 2015 that number has declined to just over 5 months worth of available inventory. As buyers closely monitor the interest rates on 30 year fixed mortgages, listening for the feds warning shot across the bow of homeownership, reticent buyers have been jumping off the fence of indecisiveness and surrendering to the American dream.

 

 St. George Utah Real Estate Market Summary

 St. George Utah Real Estate Market Summary – August 2015

St. George Utah Real Estate Market Summary – August 2015

Absorption Rate: 5.05 months

Average List Price: $399,323

Median List Price: $299,000

Average Sales Price: $310,686

Median Sales Price: $213,535

 Average Cumulative Days On Market (CDOM): 106

 Median Cumulative Days on Market (CDOM): 43

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 Tuesday, September 2, 2015 4:20 AM.

Southern Utah Real Estate Market Statistics – May 2015

St. George, Utah – it’s Thursday, June 11, 2015 and over the past 30+ days Southern Utah’s real estate market has demonstrated that our little corner of the Beehive State continues to attract homebuyers in droves.

Number of Southern Utah real estate listings

Number of Southern Utah real estate listings

 

Today the number of Southern Utah real estate listings available on the Washington County Board of Realtors MLS system has declined to just north of 1,800 single-family residential units or condo’s / townhomes. Representing a serious decline for available inventory, on a year-over-year basis. In addition to the 1,800 active listings currently available on the flex MLS system, approximately 600 new listings were added to the MLS between April 15, 2015 and May 15, 2015. Additionally, during that same 30-day time period there were 400 closed escrows and 437 pending listings.

 

 

 

Average Active List Price for Southern Utah real estate

Average Active List Price for Southern Utah real estate

 

As the  graph indicates, the Average Active List Price for Southern Utah real estate continues to increase. Primarily thanks to supply and demand issues. As our existing inventory continues to decrease, and the cost of new construction continues to skyrocket on a per square foot basis, we see the Active Average List Price hovering around $400,000. As most experienced real estate buyers understand – the asking price is almost always substantially more than the sales price. As such, between April 15, 2015 and May 15, 2015 the Average New List Price was approximately $325,000; while the median sales price of a St. George home was just below $240,000, the Average Pending and Sold Listing closed for approximately $242,000.

 

 

Southern Utah's real estate absorption rate

Southern Utah’s real estate absorption rate

 

 

As Washington County’s real estate inventory continues to decline, so does Southern Utah’s real estate absorption rate. Currently, according to the flex MLS system there is approximately 6.35 months worth of housing inventory to choose from. As the inventory and absorption rate continue to dramatically decline, we see the Cumulative Days on Market for the existing inventory slipping to below 100 days as well.

 

Southern Utah Real Estate Market Statistics – May 2015

Southern Utah Real Estate Market Statistics – May 2015

Southern Utah Real Estate Market Statistics – May 2015

Absorption Rate 5.66; Average List Price $387,985; Median List Price $289,900; Average Sales Price $259,632; Median Sales Price $229,500; Average Cumulative Days on Market 99; Median Cumulative Days on Market 46. Aside from the absorption rate declining by 16.15% (thanks to buyers aggressively purchasing southern Utah listings), all of the other market statistics are pointing in a positive direction.

In briefly reviewing four of the more relevant data points for the southern Utah real estate market, we see that there were 538 new listings added to the Washington County Board of realtors MLS system for the month of May. Additionally, there were 400 sold listings, 439 properties placed in escrow and a total of 1,798 active listings of the flex MLS system for all of southern Utah.

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.