Posts

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.

Join me on FacebookTwitterPinterestStumbleuponLinkedin, and Google+

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.

SUHPI: Southern Utah Home Price Index – March 2015

St. George, Utah – its Wednesday, April 1, 2015, and the Southern Utah Home Price Index (SUHPI) for March increased by 4.42% from the same time last year, according to the WCBR (Washington County Board of Realtors) MLS system.

Washington County’s housing affordability remains steady: While the great State of Utah’s overall median home value remained affordable at $209,100, Southern Utah’s median sales price for a single-family residential unit increased on a year-over-year basis to $215,000. Representing a 4.42% increase from 2014’s $205,900 median sales price – as indicated by the local MLS statistics.

Utah’s Mortgage Delinquencies Decline: The overall health of Southern Utah’s real estate market has continued to show resiliency and is projected to increase by 3.4% over the next 12 months. Another indicator that points to additional signs of the markets overall health for the SUHPI compares and contrasts the national average for Mortgage delinquency. Currently the national average for mortgage delinquency is 6.3%. Meanwhile the mortgage delinquency rate in the Beehive State has declined to 2.7%.

As Southern Utah’s distressed inventory continues to decline, the average homebuyer is forced to search the southern Utah MLS listing inventory – which currently has an absorption rate of 6.23 months of inventory for all of Washington County.

SUHPI: Southern Utah Home Price Index  – March 2015

SUHPI: Southern Utah Home Price Index – March 2015

SUHPI: Southern Utah Home Price Index – March 2015

SUHPI: Southern Utah Home Price Index – March 2015

 Average List Price: $386,358

Median List Price: $289,900

Average Sales Price: $254,506

Median Sales Price: $225,000 

Average Cumulative Days on Market: 100

Median Cumulative Days on Market: 46

SUHPI: Southern Utah Home Price Index – March 2015

St. George Utah Real Estate Week in Review: Sold Listings

St. George, Utah – it’s Sunday morning March 1, 2015, and over the last seven days there have been 34 single-family residential units sold by real estate agents on the Washington County Board Realtors.

In drilling down on the 34 most recently sold southern Utah real estate listings we see: 24 recently closed escrow in St. George, 9 closed escrow in Washington City, and 1 closed escrow in Ivins.

The below list will summarize those recently closed escrow’s, providing the original List Price (LP) of the home, the actual Sold Price (SP), as well as the property’s overall Days On Market (DOM). In some cases, the seller may have withheld the actual sales price – as is permissible in the state of Utah. Additionally, the included data will show the listed price per square foot vs. its sold price per square foot, all valuable information for any potential homebuyer or seller.

St. George Utah Real Estate Week in Review: Sold Listings

Results: 34Selected: 0Contact or FeedbackSchedule a ShowingPrivate Note

  + Sort View

 MLS #StatusAddressPriceList PriceSold PriceSold DateDays On MarketList/Sold Price Sqft

1
15-163710  
Closed

2012 W Cougar Rock Circle$1,046,0401,050,0001,046,04002/23/20151NA / NA

2
14-160647  
Closed

Status Change

1820 E 490 S$456,000475,000456,00002/27/2015109112.96 / 108.44

3
14-161013  
Closed

Status Change

4811 S Whisper Point Drive$455,409439,900455,40902/24/201568207.89 / 215.22

4
14-162312  
Closed

Status Change

1608 W Garnet Ridge Drive$427,866.41427,900427,866.4102/24/201510286.99 / 286.97

5
14-160463  
Closed

Status Change

2237 S Fairway Hills$350,000360,000350,00002/25/2015110128.57 / 125

6
14-159702  
Closed

Status Change

690 E 1050 SOUTH Circle$342,500349,900342,50002/23/201513184.48 / 82.69

7
14-160545  
Closed

Status Change

5120 S Carmel Bluffs Drive$339,000339,900339,00002/24/201559227.97 / 227.36

8
15-162782  
Closed

120 E 3930 S$318,900314,900318,90002/25/201512143.53 / 145.35

9
15-164262  
Closed

Status Change

2858 S LA COSTA CIRCLE 405$318,437318,437318,43702/27/201514147.08 / 147.08

10
14-157563  
Closed

Status Change

1025 N Sundown Drive #27$311,250327,750311,25002/24/2015212148.3 / 140.84

11
14-160780  
Closed

3674 S 1660 WEST Circle$310,000329,000310,00002/23/201575144.42 / 136.08

12
14-162335  
Closed

975 E Larkspur$295,000297,750295,00002/25/20153287.42 / 86.61

13
14-159962  
Closed

1265 W 2130 S$274,000279,000274,00002/23/2015120129.23 / 126.91

14
14-154537  
Closed

Status Change

1972 Rustic Drive$259,875235,000259,87502/26/2015150.82 / 56.2

15
14-162215  
Closed

Status Change

2983 E 2930 Circle S Lot # 9$251,344222,855251,34402/26/20151119.05 / 134.26

16
14-160732  
Closed

Status Change

1975 Circle S$250,573242,900250,57302/26/201564129.75 / 133.85

17
14-160431  
Closed

Status Change

1556 S SCENIC SUNRISE Drive$239,900239,900239,90002/26/2015119141.53 / 141.53

18
14-160361  
Closed

1286 W 560 S$236,000249,900236,00002/25/2015123137.08 / 129.46

19
14-161784  
Closed

Status Change

1626 W CHATEAU$234,000390,000234,00002/25/201556115.01 / 69.01

20
14-155537  
Closed

Status Change

475 N Creek Ridge Drive$229,000229,000229,00002/26/201527566.69 / 66.69

21
14-160537  
Closed

Status Change

2116 CANYON GREENS Drive$224,000239,900224,00002/25/2015125152.61 / 142.49

22
14-160805  
Closed

Status Change

739 N 1620 W$220,000224,900220,00002/25/2015122133.16 / 130.25

23
14-162123  
Closed

1296 N 1175 W$215,000215,000215,00002/24/20155134.38 / 134.38

24
14-160187  
Closed

Status Change

631 N 2240 E$214,100209,900214,10002/26/2015126119.81 / 122.2

25
15-163886  
Closed

Status Change

1151 N HIGH POINT Circle$213,544213,544213,54402/26/2015132184.09 / 184.09

26
14-156512  
Closed

Status Change

80 E 200 N$201,770195,900201,77002/24/201515674.49 / 76.72

27
14-161242  
Closed

Status Change

1355 W Snow Hill$187,000189,900187,00002/27/201568118.39 / 116.58

28
14-162440  
Closed

2261 E 700 N$185,900185,900185,90002/23/20155128.21 / 128.21

29
14-161133  
Closed

Status Change

1035 N Ocotillo$183,000183,000183,00002/27/201599146.28 / 146.28

30
14-161484  
Closed

Status Change

2115 E 575 N$169,900169,900169,90002/26/201578153.89 / 153.89

31
14-160979  
Closed

Status Change

4419 S VICTORIA Lane$165,400171,900165,40002/27/2015129153.89 / 148.08

32
15-163590  
Closed

581 E 400 S$142,000149,900142,00002/25/20151093.51 / 88.58

33
14-160089  
Closed

Status Change

1701 W 1020 N$130,000129,900130,00002/24/201511655.61 / 55.65

34
15-162820  
Closed

233 N 200 W$124,900124,900124,90002/24/20155106.3 / 106.3
 * The above St. George Utah real estate summary of recently Sold Single-Family Residential listings is provided by the Washington County Board of Realtors and their MLS system: This data excludes homes sold as “For Sale by Owner” and any other non-published real estate listings. Additionally, Alex Yeager and Engel & Volkers are not responsible for the data and do not guarantee its accuracy.

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

As the below St. George Utah real estate market statistics indicate, 2014 was a transformational year for the greater southern Utah real estate market. Based on the current real estate trends and market conditions, many of the areas real estate professionals concur – 2015 should be a breakthrough year for both increased sales and residential appreciation.

While the Washington County Board of Realtors multiple listing service (MLS) was once ruled by distressed properties (Read: short sales, REOs, and foreclosures) less than 12 months ago… those days are done. Now, with historically low interest rates and limited options for tangible investments, Southern Utah’s homebuilders have again begun to do with they do best – build homes. As such, the areas inventory has been steadily increasing.

According to the First American Markets index and the National Association of Homebuilders, Southern Utah’s single-family building permits have rebounded nicely from the dark days of the great recession, increasing to approximately 44% of the market’s high water mark established back in 2003. Additionally, the asking price of the average single-family residential property in Southern Utah is approximately 30% greater than it was back in the heady days of the 2002 – 2003 real estate free-for-all.

The first below graph drills down on the past 12 months of Southern Utah real estate activity; focusing on the number of listings in the greater St. George area, as well as their list price, absorption rate, sold to list ratio, days on market, and the markets overall price volume.

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

Next up in the year-end review of the St. George Utah real estate market are the year-over-year summary statistics for the greater Southern Utah housing market. Further focusing on the areas overall absorption rate, average list price, median list price, average sales price, median sales price, average collective days on market, as well as the median collective days on market.

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

Our last graph for this first blog post of 2015 provides a comparative analysis of the year-over-year real estate activity for the greater St. George real estate market. The below for graph drills down on Southern Utah’s Sold,  Pending, Active and New real estate for sale  in southern Utah.

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

St. George Utah Real Estate Market Statistics: 2014, A Year in Review

St. George Utah MLS Hot Sheet And Market Statistics

St. George Utah MLS Hot Sheet And Market Statistics

St. George, Utah – its Wednesday, October 8, 2014 – Today’s St. George Utah MLS Hot Sheet has 52 listings on it. Of those 52 listings, 43 are new on the WCBR MLS, 8 have received an accepted REPC (real estate purchase contracts) and are now in a pending status (accepted contract – but not closed); leaving only one property that closed escrow yesterday.

St. George Utah MLS Hot Sheet And Market Statistics

St. George Utah MLS Hot Sheet And Market Statistics

Only eight days into the spookiest month of the year and 24 existing listings have already closed escrow, leaving an additional 23 listings in a pending status anxiously waiting their turn to close escrow.

24 existing listings have already closed escrow

24 existing listings have already closed escrow

23 listings in a pending status

23 listings in a pending status

Southern Utah MLS summary statistics at a glance: Absorption rate 6.95 – Average list price $361,544 – Median list price $269,000 – Average sales price $217,511 — Median sales price $189,450 – Average cumulative days on market (CDOM) 78 –

Median CDOM 42.

This time last year there were a total of 1199 listings for sale, this year there are 1384 — reflecting a 15 point percentage increase in listings, while the overall sold volume decreased from $48,834,008 to $44,763,115 – representing an approximate 8% drop.

Southern Utah MLS summary statistics at a glance

Southern Utah MLS summary statistics at a glance

St. George Utah Real Estate Market Conditions

St. George Utah Real Estate Market Conditions |  September 2014

With only two months to go before 2014 ends with a thud and the September St. George Utah real estate market conditions and statistics remain stable. Taking a quick glance at the current inventory, we see that the greater St. George Utah area – including Santa Clara, Ivins, Washington, Hurricane, Brookdale, and Pine Valley – have 1,220 Active single-family and or condo/townhomes for sale; with additional an289 listings currently in a pending status on the Washington County Board of realtors MLS.

Active / Sold Listings

The St. George Utah real estate market has definitely witnessed some dramatic highs and lows recently. For the month of September Realtors in Southern Utah sold 280 listings, representing a significant decline over last years 301 sold properties for the month of September. During the month of September a total of 2005 Active Listings were put on the MLS in the hopes of being sold, skyrocketing up from last year’s September Active Listings of 1691.

St. George Utah Real Estate Market Conditions

St. George Utah Real Estate Market Conditions | September 2014

Days On Market

With the holiday seasons just around the corner, it’s critical for home sellers in the southern Utah area to understand that historically, the holiday season means increased “Days on Market.”  In comparing the average days on market for a listing in September, we see a properly priced home only lasting approximately 78 days. That same home, with the same agent and the same list price could expect to spend an additional 20 days on the MLS if they listed in January.

Popular Price Range

St. George Utah’s real estate inventory under $300,000 remains strong. As Southern Utah’s housing inventory gets picked over, those with access to the MLS can easily see that the most desirable price range continues to be $300,000 and less. In examining the below data set we see the past 30 days of MLS activity in the Southern Utah area. The below list demonstrates those homes priced under $200,000 had the most buyers competing for their property – continuing a long and healthy trend. As a general rule of thumb, most homebuyers feel comfortable in this price range. Generally looking for approximately 1800 ft.² in a flexible floor plan, today’s buyers want homes that backup to open space in newer communities. Additionally, one of the requests I hear more often than not from my out of area buyers … is to keep them out of any PUDs (planned unit development) and any community that has an HOA (homeowners Association).

St. George Utah Real Estate Market Conditions

St. George Utah Real Estate Market Conditions

Real Estate Remains Vibrant

In looking at the residential data sets provided by the Washington County Board of Realtors, we see the housing sector in southern Utah is holding its own. As the number of active listings remains steady and the absorption rate continues to slowly increase, the days on market for a properly priced homes have fallen sharply. With a 2.91% increase, the median priced home sold in southern Utah jumped from $232,000 in 2013 to $249,000 in 2014.

In summation – the proper price is critical to getting your home sold in southern Utah. With golf courses, nature and a plethora of fun things to do nearby, St. George Utah real estate has never really been that hard to sell, provided it’s properly listed. Should you have a home that you would like to get “sold” give Alex Yeager of Fidelity Real Estate St. George a call … toll-free 844–677–7873.

St. George Utah Real Estate Market Conditions

St. George Utah Real Estate Market Conditions