St George Utah Market Report March 2015

This report will cover the St George Utah real estate market, including the “Greater St George area” (St George, Washington, Santa Clara, and Ivins) for March 2015.  This first image best illustrates the long term market snapshot showing the past 2 years of data.  You’ll notice that overall, the number of listings is a bit higher and sales are steady, though lower when compared to 2013.

St George Utah Real Estate Market Report

The past 2 months show a slight dip in sales, however this is not a concern as the numbers were quite similar last year (we actually had a better January this year).   February we were down approximately 6.8% in sales when compared to the previous year.  The number of months in inventory is up, again, this is not really a concern as these number are in line with the increased number of overall listings.  Since sales are relatively steady, the increased number of listings will naturally cause the number of months in inventory to rise. 

The median sale price year to date (YTD) is $228,855 which is nearly identical to the same period last year  and these prices are roughly 10% higher than 2013.  An interesting fact is the St George Luxury market.   YTD there have been 17 homes sold priced $600,000 and over.  This shows that our high end luxury homes are selling at a decent pace, for the same period last year we sold 13.  

St George Utah Foreclosures! 

Are you looking for St George Utah foreclosures?  What foreclosures?  There is not much in the way of distressed homes anymore; this is a great indicator for a continued strengthening housing market.  As of today, there are 1,329 active homes for sale in the Greater St George area.  Of these homes, 12 are bank owned and 27 are short sales.  This brings a total of 39 homes in inventory that are of distressed status which equates to 2.9%.  This is really amazing, considering the days of 2010 when 44% of our inventory was of distressed status.  Quite an amazing comeback.  If you’re ready to buy or sell in St George, give Paula Smith of Red Rock Real Estate a call.