St George Real Estate Market Conditions
The St George Utah real estate market is moving full steam ahead. It’s time to take a look at the market report and I’ll offer real estate statistics, news, and opinions for the Southern Utah housing market. Currently (4-9-2013) there are 1,014 ACTIVE homes listed for sale in Greater St George (this includes St George, Washington, Ivins, and Santa Clara) this number is comparable to last year. There are 412 homes pending, which is very high and more proof in the rebounding housing market in St George. In SunRiver there are currently 59 homes for sale, which is a bit lower than typical (last year at the same time there were 74 homes for sale). There are 13 pending homes in SunRiver.
Sold Homes in St George Utah
From January 1, 2013 through March 31, 2013 there were 645 homes sold (293 were sold in March alone) this can be compared to last year with YTD totals for the same time period at 571 sold homes in St George. Of the 645 homes sold, only 82 were of distressed status (short sale or foreclosure) which means only 13% of the sold homes were of distressed status; in comparison to last year when 33% of the sold homes were of distressed status. This continued improvement is a strong indicator of our rebounding housing market.
Short Sales and Foreclosures in St George
Interestingly, comparing last year to this year (January to April) the average sold price is up 14% for single family and new construction remains about the same; this number will likely change as most new construction builders have increased their prices as of April 1st. Most builders added a 4-5% increase, including Ence and SunRiver. This is showing that sales are higher and prices are higher, coupled with continued low interest rates; the paradigm has shifted from a buyers’ market into a sellers’ market. Sorry, buyers, I’ve been warning you for a couple of years to get off that fence. Not to worry, there is still time, but you will be paying more and having less to choose from. You could continue to wait, and then you’ll pay even more if you actually even get your offer considered. Already, homes that are priced well will receive multiple offers within days (sometimes hours).
The housing stabilization in which St George has experienced coincides with a national stabilization and shown market surges with a western emphasis. Here is a great video illustrating these points from Bloomberg where CEO John Burns talks about the housing market. http://www.bloomberg.com/video/housing-never-been-more-affordable-burns-says-9Fn9YGWiTIiRMUI8OKDWRA.html Hey, if you’re ready to sell, give me a call right away. Paula Smith 435-773-3751 or contact me via email for a no obligation market analysis on your home, "What's my St George Home Worth?"
If you are looking for homes for sale in Sunriver, check out my Sunriver real estate page where you can sign up to receive alerts for all homes listed in Sunriver.
SunRiver St George Home For Sale. 1100sqft, 2bedroom, 2bath, beautiful fireplace and an unusually deep 2 car garage priced at $174,000.
SunRiver 55+ Gated Community. Reflections which is the gated community within Sunriver. That home has a 4 car garage, luxury upgrades, and a theater room with 3.084 sqft priced at $625,000
Legacy St George Home For Sale. Just off the Southgate Golf Course with panoramic views to the West, North, and East including mountain and city views. Just an amazing find with this newer 3bedroom, 2 bath and 2 ½ garage priced at $269,000. It’s a one of a kind corner lot.