Welcome Spring! I apologize for being so behind in releasing this market report; it’s been busy out there for me so I’m just as curious as some of my readers may be as to the current market conditions in St George. Those of you who receive my monthly (mailed) newsletter, allow me to further extend my apologies for that is late as well. The April newsletter was sent to the printer today, and it should be ready to mail next week.
Here is my “go to” info-graphic. I feel this shows the most amount of pertinent information. The graph below shows a 2-year glimpse, for the Greater St George area, residential homes.
I added the yellow line below all of the March “indicator circles” for the current, and past 2 years. I feel this aids in a visual representation of sales and where we are. You’ll notice that we are fairly close to “typical” (if there ever is a “typical” in real estate). We did snap our “decline” streak that I noted in my February report. This past year, we do drift a little closer to the line, above and below. If typical is to continue, we should see a spike in sales again in May, so that means April should be a busy month with contracts written (since most transactions will close in 30 days—only after they “close” will they record as “sold”). As of today, there are 485 homes “pending”. Last month, there were 437 “pending” so that number is trending upward.
I know I’ve been neglecting Sunriver lately, so as promised, let’s take a closer look at what’s been going on out there. Sunriver is nearly completed with only around 30 lots remaining. The total number of homes will be 2311 once complete. The Sunriver annex development “The Villas” has already started selling and they’ve sold around 30 homes in there. There are talks and negotiations underway for a new 55+ community to happen in the Desert Color development on the East side of I15 (just across from Sunriver). While the developers of Sunriver are not yet locked, it is on the table. I’d like to see another developer for a 55+ over there, to mix things up a bit. We have a fair demand for 55+ communities, and it’s odd to me that more of our local developers don’t get in on the game.
It’s a little slower in Sunriver as well, but still on par for the most part with trends this time of the year. I expect more of the same to continue. With talks of interest rates coming back down, it may be just what we need in the way of a push for the market. It’s still too soon to tell what is going to happen, I’m feeling cautiously optimistic. For now.
On the topic of Sunriver, I have a seller out there who will be selling their home soon. It's a 2 bedroom, 2 baths, 2 car garage with 1260sqft. This home was TOTALLY updated, and it's beautiful. There are new cabinets, new flooring, and some amazing touches--such as a wood accent wall. I think it will be listed in the $280's. Call me if you have any interest and I can tell you more about it.
My Newsletters are out! Are you on the list? If you'd like to be included, send me an email with your mailing address and I'll include you (they are mailed out once a month). Do you have other statistics or information you'd like to read? let me know.
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.