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4 in Sunbrook, 7 in SunRiver: St. George Realtors Closed 57 Escrows Last Week

Closing escrow on four properties in Sunbrook, seven in SunRiver, and three in Entrada, Southern Utah’s realtors were extremely busy last week.

It’s Monday, April 24, 2017, over the past seven days the Washington County Board of Realtors successfully sold 57 homes in the greater St. George area.

St. George Utah Weekly Real Estate Statistics

From Shonto Point to The Ledges of St. George, Southern Utah’s real estate inventory is selling much faster than is historically normal. Of last week’s 57 closed escrow’s, 29 listings spent less than 30 days on the MLS. Over the past seven days, the ‘Median’ list price of a home sold in Washington County was $289,900. On the MLS for less than 30 days, those homes falling within the Median price range, sold for approximately $153 per square foot.

While those listings within the Median price range typically sold for more than their original MLS list price, those real estate listings falling within the ‘Average’ list price took longer to sell and sold for less than were originally listed. Lingering on the MLS for up to 66 Collective Days On Market (CDOM), the Average list price for a home over the past seven days was $389,116. Typically closing escrow for $356,024, the average SOLD price per square foot over the past seven days was $155.

Selling $22,179,586 worth of Washington County real estate for $20,293,404 over the past seven days, two homes in southern Utah closed escrow for more than $1.1 million.

Southern Utah real estate statistics: Average List Price, Median List Price, Low Price

Top Five Sold Washington County Real Estate Listings

  1. List Price: $1,650,000 – Sold Price: $1,385,000 – Days on Market: 180
  2. List Price: $2,480,000 – Sold Price: $1,275,000 – Days on Market: 337
  3. List Price: $997,500 – Sold Price: $955,000 – Days on Market: 100
  4. List Price: $699,000 – Sold Price: $689,000 – Days on Market: 39
  5. List Price: $602,264 – Sold Price: $602,264 – Days on Market: 1

top five sold Washington County real estate listings

4 in Sunbrook, 7 in SunRiver: St. George Realtors Closed 57 Escrows Last Week

Sold Washington County Real Estate: Multiple Closings in Sunbrook and Sunriver

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, April 24, 2017

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.

Sold St. George Real Estate: A Week in Review

St. George, Utah – it’s Monday, July 20, 2015 and over the past seven days there have been 27-closed escrows recorded in southern Utah.

Upon closer examination of the 27 recently closed escrows (single-family residential listings and condominium/townhomes), we see 1 closed in Santa Clara, Utah; 3 closed in Washington City, Utah; 3 successfully closed in Ivins, Utah … and last but certainly not least – 20 in St. George, Utah.

For those sellers or buyers looking for slightly more granular detail on these recently closed sales in Washington County, please refer to the below list. Included within the list of recently sold southern Utah real estate you’ll find a brief summation of the closed properties Original List Price, their ultimate Sales Price, it’s Cumulative Days on Market… and the individual Property’s sold Per Square Foot Price; all vital statistics for any potential home buyer or seller to understand in our southern Utah real estate market.

Sold St. George Real Estate: A Week in Review

Results: 27Selected: 0Contact or FeedbackSchedule a ShowingPrivate Note

 

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

1

$521,900
2682 S Franklin Drive
St George, UT 84790
Closed / 15-166050  

521,900521,90007/15/20156143.22 / 143.22

2

$432,625
2739 E 3800 S
St George, UT 84790
Closed / 15-167922  

432,690432,62507/14/20151116.47 / 116.45

3

$432,500
1287 W BLOOMINGTON Drive S #18
St George, UT 84790
Closed / 15-163231  

449,900432,50007/13/2015138118.8 / 114.21

4

$415,000
1992 WESTCLIFF Drive
St George, UT 84790
Closed / 15-166258  

424,900415,00007/14/20153395.72 / 93.49

5

$410,000
3452 SAGEBRUSH Drive
Santa Clara, UT 84765
Closed / 15-166871  

Status Change

435,000410,00007/17/20158117.03 / 110.3

6

$409,900
2304 E 3350 S
St George, UT 84790
Closed / 15-166566  

409,900409,90007/14/20151153.23 / 153.23

7

$384,382
2265 E 3400 S
St George, UT 84790
Closed / 15-165120  

364,900384,38207/13/201550141.82 / 149.39

8

$355,317
1862 S 2740 E
St George, UT 84790
Closed / 15-165149  

357,900355,31707/14/201578131.1 / 130.15

9

$350,142
1098 N Montana Lane 214
St George, UT 84770
Closed / 15-163696  

339,900350,14207/14/20158NA / NA

10

$297,000
1630 E 2450 S #52
St George, UT 84790
Closed / 15-164351  

Status Change

319,000297,00007/16/20159792.68 / 86.29

11

$284,132.5
312 E Desert Rose Way
Ivins, UT 84738
Closed / 14-153521  

254,500284,132.507/16/2015425135.95 / 151.78

12

$276,000
472 W RIVER WILLOW Lane
Washington, UT 84780
Closed / 15-165682  

274,900276,00007/14/201529151.38 / 151.98

13

$269,000
160 S 1210 WEST Circle
St George, UT 84770
Closed / 15-165197  

Status Change

269,900269,00007/15/201565133.68 / 133.23

14

$255,000
1718 W DESERT ROSE Drive
St George, UT 84790
Closed / 15-164662  

265,000255,00007/13/201583151.26 / 145.55

15

$239,900
4367 S Victoria Lane
St George, UT 84790
Closed / 15-165906  

Status Change

239,900239,90007/14/201562162.09 / 162.09

16

$232,000
1470 N 1540 W
St George, UT 84770
Closed / 15-167028  

230,000232,00007/15/201512121.05 / 122.11

17

$229,000
805 S River #46
St George, UT 84790
Closed / 15-165289  

229,000229,00007/14/201531130.56 / 130.56

18

$224,900
1854 W Stonebridge #39
St George, UT 84770
Closed / 15-166017  

229,900224,90007/13/201563121.38 / 118.74

19

$215,000
295 N PRICKLEY PEAR Drive
Washington, UT 84780
Closed / 15-166563  

219,000215,00007/15/201517114.06 / 111.98

20

$207,000
3043 Cherry Circle
St George, UT 84790
Closed / 15-166656  

209,900207,00007/13/201519147.61 / 145.57

21

$206,011
676 W Lava Point Drive 38
St George, UT 84770
Closed / 15-166195  

205,000206,01107/14/201515107.44 / 107.97

22

$201,000
125 E 670 S
Ivins, UT 84738
Closed / 15-163186  

214,500201,00007/15/2015132159.36 / 149.33

23

$183,000
1879 GUNLOCK Court
St George, UT 84790
Closed / 15-166855  

177,400183,00007/13/20152120.6 / 124.41

24

$176,201
660 E Spring Circle
Washington, UT 84780
Closed / 15-164491  

179,000176,20107/13/201574124.91 / 122.96

25

$175,000
545 S Valley View Drive #25
St George, UT 84770
Closed / 15-164916  

Status Change

179,900175,00007/17/201597101.41 / 98.65

26

$169,000
462 S 400 E
Ivins, UT 84738
Closed / 15-165312  

169,000169,00007/16/201516127.55 / 127.55

27

$142,000
1714 W 1300 N
St George, UT 84770
Closed / 15-164952  

139,900142,00007/14/201553109.13 / 110.76

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 Monday, July 20, 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.

Southern Utah Real Estate Statistics: Market Summary For February 2015

St. George, Utah – it’s Tuesday morning March 3, 2015 and the Southern Utah Real Estate Market Summary for February shows the number of real estate listings in the greater St. George area increasing, in addition to the overall the list price, days on market, and MLS absorption rate.

Southern Utah Real Estate Statistics: Market Summary For February 2015

Southern Utah Real Estate Statistics: Listing Inventory

Southern Utah Real Estate Statistics: Listing Inventory

 

After witnessing the traditional dip of new real estate listings during the holidays (Nov., & Dec. 2014) being placed on the Southern Utah MLS (multiple listing system), the number of St. George Utah real estate listings have spiked during the past 30 days – to approximately 1500 single-family residential units. February’s 1500 level represents: Active Listings, New Listings, Pending Listings, and Sold listings on the Washington County Board of Realtors (WCBR) MLS system. While there is obviously a wide divergence between the average list price and the average sales price, the fact remains, our market is heading in the right direction. Providing a healthy number of listings for southern Utah’s homebuyers to choose from, while not saturating the market and ultimately stalling the appreciation of our already existing inventory.

 

 

Southern Utah Real Estate Statistics: Average List Price

Southern Utah Real Estate Statistics: Average List Price

 

When looking at the WCBR summary of statistics for the existing MLS listings, and comparing February 2014 to February 2015, we see the market headed in the right direction. During February 2014, the WCBR MLS had an absorption rate of 5.98, and an average list price of $382,354 – meanwhile the average sales price was $250,356. For February 2015, our absorption rate has increased to 6.19 – this number represents the months worth of existing inventory, should no new listings be placed on the MLS – with an average list price of $410,874, and an average sales price of $256,573. For 2015 we currently see an average sales price of $265,695, which represents a 5.56 percentage change over this time last year. Additionally, there has been a nominal change between the average Cumulative Days on Market for southern Utah’s MLS listings: 100 days for February 2014, 103 days for February 2015… representing an uptick of 3%.

Southern Utah Real Estate Statistics: Market Summary Of February 2015

Southern Utah Real Estate Statistics: Market Summary Of February 2015

Since it’s Tuesday morning, that can only mean one thing for me – it’s time for to get ready for the Washington County Board of Realtors “Brokers Tour.” Have a great Tuesday, and I’ll see you tomorrow.