St George Residential and Land Sale Statistics
Posted by on Thursday, September 11th, 2008 at 5:32pm.August St George Residential Sales
Here is the monthly St George Utah real estate market statistic report for August 2008. This first graph will show actual price range statistics (back by popular demand). I like this graph as well because it really details exactly what has sold in each price range. There were a total of 141 properties sold for the month of August. Remember, this is ONLY residential listings within the Greater St George area (commercial and land are not included within this statistic).
| List Price Range | Number of Listings | Average Days to Sold |
| $0-$19,999 | 5 | 126 |
| $20,000-$29,999 | 0 | 0 |
| $30,000-$39,999 | 0 | 0 |
| $40,000-$49,999 | 0 | 0 |
| $50,000-$59,999 | 1 | 113 |
| $60,000-$69,999 | 1 | 92 |
| $70,000-$79,999 | 1 | 119 |
| $80,000-$89,999 | 1 | 48 |
| $90,000-$99,999 | 0 | 0 |
| $100,000-$109,999 | 1 | 22 |
| $110,000-$119,999 | 3 | 95 |
| $120,000-$129,999 | 3 | 104 |
| $130,000-$139,999 | 6 | 139 |
| $140,000-$149,999 | 1 | 24 |
| $150,000-$159,999 | 6 | 158 |
| $160,000-$169,999 | 1 | 47 |
| $170,000-$179,999 | 7 | 95 |
| $180,000-$189,999 | 4 | 192 |
| $190,000-$199,999 | 8 | 102 |
| $200,000-$224,999 | 19 | 136 |
| $225,000-$249,999 | 13 | 110 |
| $250,000-$274,999 | 9 | 132 |
| $275,000-$299,999 | 15 | 110 |
| $300,000-$349,999 | 13 | 141 |
| $350,000-$399,999 | 12 | 113 |
| $400,000-$449,999 | 0 | 0 |
| $450,000-$499,999 | 2 | 214 |
| $500,000-$749,999 | 5 | 201 |
| $750,000-$999,999 | 2 | 184 |
| $1,000,000+ | 2 | 168 |
| The average price for the 141 properties is $266,399. | ||
| The highest price is $1,575,000. | ||
| The median price is $230,000. | ||
| The lowest price is $0. | ||
| The average Market Time is 127. | ||
141 total sold, is not a disappointing number. The media has saturated us with the housing doom and gloom, in fact, buy most accounts the housing bubble has completely busted. Here in St George, real estate IS selling and buyers ARE buying. Many sellers are disappointed with the prices, some continue to overprice their home. These are the homes that are not selling. Realistic sellers who review the comps and price their homes competitively have no problem attracting buyers. Read my article regarding Overpriced listings here.
Here is a graph that shows what is ACTIVE and for what price range (again, this is only residential for the greater St. George Utah area).
| List Price Range | Number of Listings | Average Days on Market |
| $0-$19,999 | 1 | 57 |
| $20,000-$29,999 | 3 | 169 |
| $30,000-$39,999 | 1 | 214 |
| $40,000-$49,999 | 1 | 115 |
| $50,000-$59,999 | 3 | 64 |
| $60,000-$69,999 | 6 | 115 |
| $70,000-$79,999 | 8 | 154 |
| $80,000-$89,999 | 5 | 146 |
| $90,000-$99,999 | 12 | 154 |
| $100,000-$109,999 | 16 | 101 |
| $110,000-$119,999 | 24 | 160 |
| $120,000-$129,999 | 21 | 115 |
| $130,000-$139,999 | 34 | 105 |
| $140,000-$149,999 | 40 | 110 |
| $150,000-$159,999 | 46 | 100 |
| $160,000-$169,999 | 37 | 104 |
| $170,000-$179,999 | 51 | 120 |
| $180,000-$189,999 | 60 | 135 |
| $190,000-$199,999 | 59 | 122 |
| $200,000-$224,999 | 129 | 126 |
| $225,000-$249,999 | 168 | 126 |
| $250,000-$274,999 | 104 | 130 |
| $275,000-$299,999 | 153 | 122 |
| $300,000-$349,999 | 186 | 122 |
| $350,000-$399,999 | 144 | 121 |
| $400,000-$449,999 | 91 | 123 |
| $450,000-$499,999 | 106 | 181 |
| $500,000-$749,999 | 207 | 140 |
| $750,000-$999,999 | 96 | 165 |
| $1,000,000+ | 115 | 176 |
| The average price for the 1927 properties is $417,072. | ||
| The highest price is $6,000,000. | ||
| The median price is $299,900. | ||
| The lowest price is $11,900. | ||
| The average Market Time is 133. | ||
What is going on with Land Sales in St. George Utah?
By request, lets take a look at the Land Sales and statistics for St George Utah. The St. George inventory is completely saturated with land for sale. Years ago when the market was peaking, lots were scarce. Developers began to purchase large parcels and begin the subdivision process. Because of the lengthy process, lots first began to trickle into the inventory but then the flood gates opened. To date, we have 1206 lots for sale in the greater St George area. Here is a look at the Land Statistics.
| Total | Total List Volume | Median List Price | Average List Price | DOM | Total Sold Volume | Median Sold Price | Average Sold Price | SP/LP | SP/OLP | |
| Sold | 7 | $1,268,800 | $99,900 | $181,257 | 62 | $1,225,900 | $89,900 | $175,128 | 96.62 | 96.62 |
| List/Sold | 1 | $600,000 | $600,000 | $600,000 | 2 | $600,000 | $600,000 | $600,000 | 100.00 | 100.00 |
| Co-Broker | 6 | $668,800 | $85,000 | $111,466 | 72 | $625,900 | $87,450 | $104,316 | 93.59 | 93.59 |
| New | 107 | $41,338,290 | $140,000 | $386,339 | 25 | |||||
| Pending | 31 | $3,184,200 | $79,900 | $102,716 | 54 | |||||
| Withdrawn | 0 | $0 | $0 | $0 | 0 | |||||
| Cancelled | 1 | $91,000 | $91,000 | $91,000 | 1 | |||||
| Expired | 5 | $1,734,000 | $298,000 | $346,800 | 276 | |||||
| Back On Market | 11 | $2,500,800 | $150,000 | $227,345 | 285 | |||||
| Extended | 109 | $21,690,579 | $119,000 | $198,996 | 398 | |||||
| Active In Range | 1,175 | $377,070,930 | $150,000 | $320,911 | 331 | |||||
| Current Active | 1,206 | $380,756,530 | $150,000 | $315,718 | 322 |
But what has actually sold? For August 2008 only 7 lots sold! (This is statistical data for only the greater St George area). Considering the amount of lots available, this is not a great number. 11 lots went "pending" in August, which may make for slightly better numbers for September, however nothing that will truly help matters. As you can see, we have an extreme surplus in land and very little demand. This will cause unfortunate circumstances for those looking to sell and will add to the already fractured housing market being inundated with short sales and foreclosures. Hey, if you are a buyer looking to build your dream home...now is your chance! You have a huge selection with rock bottom prices being offered by many sellers.
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