February 2019 St George Utah Market Report
We are in the middle of the 2019 St George Utah Parade of Homes, which means the area is buzzing! Approximately 30,000 people make their way to the annual Parade of Homes. It’s busy for all things St George, especially the housing market. Sales always surge this time of the year, so as of this report, it won't be including most of February, that report will be ready in a couple of weeks.
It’s interesting to note, home sales for the past three months have been on the decline. A decline such as this is not entirely unusual….UNLESS…February and March underperform. Here is a look at the past couple of years, this shows similar trends in the months leading up to February and then an apparent surge for February and March, and into the summer season (I’m following the “black” line on here for the “sold” homes).
The number of “active homes” is also following similar patterns, and I’d expect that to shoot up on the next report as well. It should be a key indicator, assuming we follow similar trends, then I’d expect the market to continue as is.
Are prices still moving up?
Pricing is a question I’ve been asked about weekly.
Here is an interesting report, this is taking into account Jan 1, 2018, to Feb 10, 2018 and comparing it to the same time this year (I used these dates to keep the Parade of Homes out the mix since we are still in the middle of that as of this post—using these dates will skew the numbers). I am using ONLY the Greater St George area (not Hurricane).
The number of SOLD homes for this time is down this year, 14%. The average sale price for this time is almost identical. It will take a little more time and comparison to determine how we are holding, specifically due to the patterns in the market for this time of year, but next month will be exciting. Next month I'll also take a closer look at SunRiver and let you know how the market is playing out there. Stay tuned!
Here are some quick stats:
As of today in Greater St George (for Residential)
Current Active Listings: 1,028 (up from 891 as of Jan 25th)
Current PENDING Listings: 437 (up from 340 when I reported on Jan 25th—showing we are on trend)
Number of CLOSED (Jan 26th – Feb 20th): 151 (compared to 157 for the first 25 days of Jan)
Average DAYS ON MARKET: 62
Current Active Listings: 207 (up from 189 as of Jan 25th)
Current PENDING Listings: 82 (87 when I reported on Jan 25th)
Number of CLOSED (Jan 26th – Feb 20th): 33 (compared to 21 for the first 25 days of Jan)
Average DAYS ON MARKET: 66
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I am Paula Smith, Associate Broker with RealtyPath of St George. I have been a licensed, full time, real estate agent in Southern Utah since 2006. I have been selling residential real estate during all of the changes in the market as well as witnessing our St George area grow to become one of the fastest growing cities in America. I keep my finger on the pulse and not only pay attention to what is going on, but I've also been able to accurately predict what's to come.
Allow me to be of assistance and earn your business. If you’ve got a home in Southern Utah that you’re thinking of selling and you’d like a property market report, I can send that to you. If you're ready to buy or sell, I'm ready to make it happen.