November 2008 Housing Market Report
Posted by on Saturday, December 13th, 2008 at 3:05pm.Let’s check out the housing market statistics for St George during November 2008. Here is a snapshot of what has sold which will provide a glimpse of the market conditions for St George Utah. For the month of November, there were a total of 109 residential homes sold in the greater St George area. Here is a graph of the different price ranges that will show what price range offers sold homes.
| List Price Range | Number of Listings | Average Days to Sold |
| $0-$19,999 | 4 | 98 |
| $20,000-$29,999 | 0 | 0 |
| $30,000-$39,999 | 0 | 0 |
| $40,000-$49,999 | 0 | 0 |
| $50,000-$59,999 | 0 | 0 |
| $60,000-$69,999 | 2 | 49 |
| $70,000-$79,999 | 2 | 123 |
| $80,000-$89,999 | 1 | 130 |
| $90,000-$99,999 | 1 | 31 |
| $100,000-$109,999 | 1 | 243 |
| $110,000-$119,999 | 2 | 72 |
| $120,000-$129,999 | 4 | 68 |
| $130,000-$139,999 | 5 | 142 |
| $140,000-$149,999 | 3 | 113 |
| $150,000-$159,999 | 5 | 147 |
| $160,000-$169,999 | 4 | 91 |
| $170,000-$179,999 | 5 | 137 |
| $180,000-$189,999 | 7 | 81 |
| $190,000-$199,999 | 7 | 136 |
| $200,000-$224,999 | 14 | 140 |
| $225,000-$249,999 | 5 | 192 |
| $250,000-$274,999 | 6 | 225 |
| $275,000-$299,999 | 8 | 96 |
| $300,000-$349,999 | 9 | 182 |
| $350,000-$399,999 | 3 | 203 |
| $400,000-$449,999 | 2 | 187 |
| $450,000-$499,999 | 2 | 112 |
| $500,000-$749,999 | 7 | 59 |
| $750,000-$999,999 | 0 | 0 |
| $1,000,000+ | 0 | 0 |
| The average price for the 109 properties is $233,113. | ||
| The highest price is $700,000. | ||
| The median price is $204,000. | ||
| The lowest price is $0. | ||
| The average Market Time is 130. | ||
During the month of November, there were a total of 1897 residential homes active in the greater St George area. Ouch! That’s a lot of homes for sale, considering less than 1% of that total actually sold. Taking into consideration there were 75 homes that went pending, this would bring the number to about 1% however, we must also consider the fact that 57 homes came “back on the market”.
Although these numbers seem a bit low, it’s comparable with this time last year. The Holiday season typically offers less movement nation wide. In comparison for November 2007 the greater St George area reported 1864 ACTIVE single family, and 139 SOLD.
So with all of the doom and gloom news, what is unexpectedly good news are the interest rates! Wow, as of today (December 13, 2008) it is possible to obtain a 4.75% fixed for 30 years! WHAT? This is unheard of. Of course rumors of the financial market are the Feds attempting to achieve rates of 4.5%, well rumor or truth…we are darn close to that now. Buyers: Take advantage of this market and this interest rate, what are you waiting for? Get out and stimulate the economy! 
Want to see everything that is currently active? Check out our property search page. Also, we have created a Foreclosure and Short Sale property search due to popular demand. Check them out!
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