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Washington Fields, Meadow Valley, and Kachina Springs: 64 Listings Sold Week of May 21

A Washington Fields equestrian estate that closed escrow last Monday was the top real estate transaction in southern Utah for the week of May 21, 2018.

From Meadow Valley to Kachina Springs, Realtors on the Washington County Board successfully closed 64 single-family residential homes and/or condominiums/townhomes over the past seven days.

On the Multiple Listing Service for just 67 “Cumulative Days on Market,” the southernUtah equestrian estate was originally listed for $2,475,000 on February 16, 2018, and closed escrow on May 21, 2018, for $2,362,500.

Washington Fields, Meadow Valley, and Kachina Springs: 64 Listings Sold Week of May 21

Per the Washington County Board of Realtors (WCBR) Flex MLS statistics, a majority of last week’s successful real estate transactions closed escrow in less than a month:  32 properties sold in less than 30 days; 17 listings spent less than 60 days on the MLS; 7 properties took between 61 and 90 to close escrow, and 8 of last week’s sold real estate listings were on the MLS for more than 91 days.

Top 33 sold Washington County real estate listings

Between May 21 – May 26, 2018, the Average List Price of a home sold in southern Utah was $368,966, while the Average Sold Price was $360,978.

34-64 of last week’s closed escrows: Week of May 21, 2018

Per the WCBR’s FlexMLS statistics, the Median List Price for a home sold in southern Utah last week was originally listed for  $277,450 and sold for $275,000 – or approximately $166 per square foot.

Top Five Sold St. George Real Estate Listings

  •       List Price: $2,475,000 – Sold Price: $2,362,500 – Days on Market: 67
  •       List Price: $1,449,000 – Sold Price: $1,350,000 – Days on Market: 337
  •       List Price: $879,000 – Sold Price: $859,000 – Days on Market: 16
  •       List Price: $640,848 – Sold Price: $640,848 – Days on Market: 01
  •       List Price: $596,000 – Sold Price: $590,000 – Days on Market: 18

The above information is presented as a courtesy of Alex Yeager @ 435MLS.com. Your Southern Utah real estate expert for St. George, Utah and its surrounding communities.

All photos provided by the Washington County Border Realtors, the Flex MLS System, and the listing Realtor. * Information is deemed to be reliable but is not guaranteed. © 2016 MLS and FBS. Prepared by ALEXANDER YEAGER, 435MLS.com on Sunday, May 27, 2018

weekly real estate report for southern Utah

Cottonwood Creek, Citadel, and Pheasant Meadow: Sold Southern Utah Real Estate

Over the past seven days, southern Utah Realtors sold (closed escrow) 35 homes in Washington County. From the Cottonwood Creek subdivision in Santa Clara to the Citadel in Ivins, Realtors with the Washington County Board closed nearly $12.5 million worth of real estate since last Monday.

It’s Monday, May 8, 2017, and compared to last week’s activity (60 sold), this week’s 35 closed escrows is a strong indication that summertime is upon us. Historically slower thanks to our warmer weather; the Washington County real estate market generally slows down between May and August.

Southern Utah Weekly Real Estate Statistics

Last week, of the 35 sold real estate listings, 24 sold in less than 30 days, 2 took less than 60 days, 3 sold in 90 days, and six took more than 121 days to eventually close escrow. The below graph indicates the ‘Average List Price’ of a home in greater St. George over the last seven days was $370,854. Meanwhile, the average ‘Sold Price’ during the same time period was $356,750. Also worth noting, the Median List Price of a home on the Washington County Board of realtors last week was $239,900 – or $142 per square foot.

Originally listed for $12,979,877, southern Utah’s Realtors collectively closed 35 escrows for $12,486,256, over the past seven days.

 southern Utah weekly real estate statistics

Southern Utah Weekly Real Estate Statistics: Week of May 1, 2017

Top Five Sold Southern Utah Real Estate Listings

List Price: $1,750,000 – Sold Price: $1,500,000 – Days on Market: 187

List Price: $777,000 – Sold Price: $777,000 – Days on Market: 07

List Price: $849,900 – Sold Price: $750,000 – Days on Market: 02

List Price: $759,900 – Sold Price: $745,000 – Days on Market: 04

List Price: $650,000 – Sold Price: $620,000 – Days on Market: 154

Cottonwood Creek, Citadel, and Pheasant Meadow: Sold Southern Utah Real Estate

Sold St. George Utah Real Estate: Week of May 1, 2017

 

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, May 8, 2017

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

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.

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.