What's for Sale in St George October 2008
Posted by on Tuesday, November 4th, 2008 at 5:09pm.Here is an "active listings" chart that breaks down all current St George real estate listings by price. As you can see, we continue to have a surplus in inventory. This chart reflects: active, single family homes in the greater St. George Utah area. Wow, take a look at the amount of homes that area listed over $500,000. That is a huge percentage for the total numbers, and this is also the price range that is virtually at a selling standstill.
Unfortunately, the DOM (days on the market) figures will not be entirely accurate (yes, it’s probably much higher). Often, agents will "re-list" expired listing (rather than just change the expiration date) or cancel and re-list old property listing in an effort to make the listing appear "fresh". Don’t they know buyers’ agents can just go in and see the history? We can tell the property has been listed 4 times and for several months! It’s the first thing I do when I have a client inquire about a property. Anyway, they are not all offenders, if the seller changes agents, it will create a new listing as well.
So if you’re selling, you’re in a very large club. What’s selling in St. George? Stay tuned, I’m working on a little project that will give a real breakdown. I’m going to determine each property sold in the past 30 days, then research the "history" and find out what the original asking price was, versus the actual sold price. I think this is going to prove my point that it’s all about the price! Sure unique homes are great, upgrades will help, but the homes that are selling are the homes priced (or willing to accept) rock bottom prices!
Visit our property search page www.StGeorgeUTproperty.com/idx
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