January 2008 Home Sales Statistics for St George Utah

St George Sales Statistics

January proved to be an active month. Unfortunately, much of the activity was from agents listing new homes. Seems many sellers decided to hold off until after the New Year before adding their home to the already packed inventory. January residential home sales for St George, Utah was at a decline from December. For January, the average days on market (DOM) was also higher, meaning it is taking longer for homes to be sold.

Sales Statistics by Area
For 1/1/2008 To 1/31/2008
Search Parameters: Property type Residential.
 
Units
Volume
Average
Sale Price
Median
Sale Price
Avg. Diff.
SP to LP
Avg.
DOM
All sold listings
120
$31,901,682
$275,014
$248,500
- $8,702
135
Co-op Sales
53
$13,749,393
$280,600
$279,900
- $6,500
153
Non Co-op Sales
67
$18,152,288
$270,930
$233,400
- $10,313
121

Property Type/Area
Units
Volume
Average
Sale Price
Median
Sale Price
Avg. Diff.
SP to LP
Avg.
DOM
Residential
120
$31,901,682
$275,014
$248,500
- $8,702
135
Greater St. George
79
$22,837,238
$296,588
$257,000
- $10,867
141
Hurricane Valley
14
$3,179,050
$264,921
$289,900
- $11,638
130
Zion Park
0
$0
$0
$0
 $0
NA
Northwest Wn
6
$1,803,900
$300,650
$299,000
- $15,717
121
Northeast Wn
0
$0
$0
$0
 $0
NA
Outside Area
21
$4,081,494
$194,357
$165,000
+ $2,919
121

Information is deemed to be reliable, but is not guaranteed. See copyright notice.
Prepared by PAULA SMITH on Tuesday, February 12, 2008 7:18 AM

With St. George, Utah mortgage interest rates at a favorable level, this should offer some assistance in selling additional homes. Possibly buyers, and first time home buyers, will utilize the Government Stimulus Package and put this money towards a down payment on a home. First time home buyers may also qualify for city assistance from Saint George that will contribute funds toward the purchase of a home. With the record number of homes on the inventory, buyers have many homes to choose from. Sellers face high competition, and must be willing to negotiate which is contributing to the buyers’ advantage. Homes that are priced extremely competitive can sell in a matter of days, however some sellers continue to play the "market testing" game. They are overpricing the home, and then offer gradual price reductions throughout the course of the listing. The only thing the seller is achieving while utilizing this method is the statistical increase for the days on the market.

Buyers: this is your market! Take advantage of these extremely reasonable prices.

Sellers: price your home to sell! If you don’t, the buyer will purchase your neighbors home instead of yours.

Statistical information brought to you from the Washington County Board of REALTORS MLS system reporting.

Date: 2008-02-12 08:21:58
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