What Sold in St George for the Month of May?

There were 110 sold. Last month (April) it was: 108 homes.

131 single-family homes went PENDING. Compared to April at: 129 homes pending.

40 homes went "back on the market" meaning they were pending and fell out of escrow. For April it was 49 homes back on the market.

1503 homes are active within this range, meaning during the month of May and in the greater St George area. For April the total active was 1,363.

The average sold price in May reflects $302,103 with an average of 125 days on the market. For April the average sold price was $311,589 with an average of 141 days on the market (DOM).

For the most part, home sales in the St George Utah area are holding steady. Homes that are priced well (and competitive) will sell in a matter of days. Buyers are out but looking for deals. Homeowners are reluctantly reducing their price, those who do not reduce are adding to the days on the market statistic. The number of short sales and foreclosures is on the rise. I will work on a report for that to indicate the current numbers.

My opinion is the prices may come down a little further, pending foreclosures will contribute to much of the decline. Waiting for the market to fully bottom may not be a wise choice as interest rates have started to rise. Purchasing now with a lower rate will likely prove a better deal than waiting for slightly lower prices, with higher interest rates. If you would like to search homes currently for sale, visit my Property Search page. If you have any questions regarding any property you find, contact Paula today.