Housing Market Report- February 2016

Good afternoon and happy Monday to you! It is the first part of the month and you know what that means. It is time to do the numbers. Historically, February is a very active month for new listings hitting the market because sellers know that is when people come to town for the Parade of Homes, the warm weather, or any number of events taking place. February kicks off the busy season here in St George and this February was no different.

We saw 636 listings hit our MLS in February which was slightly higher than February of 2015 and MUCH higher than the previous 3 months. This surge in listings along with a surge in new construction has also bumped up inventory levels a bit. According to the Department of Workforce Services, residential permits for the county are up 10% year to date which will help account for the leveling off of our average sale price. Although the inventory levels are still low, (22% lower than last year at this time) we are moving closer to a balanced market which should further stabilize prices.

See the full report below and if you have any questions about this information or if you would like more information about a particular home or neighborhood, please call or email. Have a FANTASTIC week and I hope you get a chance to enjoy the warm weather!

Best, David Alderman

Painted Hills Realty

Summary Statistics

Feb-16

Feb-15

% Chg

2016 YTD

2015 YTD

% Chg

Absorption Rate

5.18

6.62

-21.75

4.99

6.44

-22.52

Average List Price

$417,372

$374,145

11.55

$379,616

$349,192

8.71

Median List Price

$314,950

$275,000

14.53

$291,680

$262,700

11.03

Average Sale Price

$232,247

$234,913

-1.13

$240,877

$243,442

-1.05

Median Sale Price

$215,000

0.00

$215,750

$214,650

0.51

Average CDOM

106

-13.21

104

-8.65

Median CDOM

-28.17

-17.39

Sold Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	3	4	-25.0	14	9	55.6
50,000-99,999	17	11	54.5	35	25	40.0
100,000-149,999	42	52	-19.2	74	90	-17.8
150,000-199,999	51	57	-10.5	97	100	-3.0
200,000-249,999	56	54	3.7	92	97	-5.2
250,000-349,999	58	58	0.0	111	104	6.7
350,000-449,999	18	15	20.0	46	36	27.8
450,000-549,999	16	5	220.0	27	14	92.9
550,000-649,999	1	7	-85.7	5	8	-37.5
650,000-749,999	1	2	-50.0	3	3	0.0
750,000-999,999	0	1	-100.0	4	7	-42.9
1,000,000-1,499,999	0	1	-100.0	0	3	-100.0
1,500,000-1,999,999	0	0	0.0	0	0	0.0
2,000,000-2,499,999	0	0	0.0	0	0	0.0
2,500,000-2,999,999	0	0	0.0	0	0	0.0
3,000,000+	0	0	0.0	0	0	0.0
Totals	263	267	-1.5	508	496	2.4

Pending Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	6	5	20.0	12	10	20.0
50,000-99,999	21	19	10.5	49	36	36.1
100,000-149,999	56	69	-18.8	93	113	-17.7
150,000-199,999	86	75	14.7	143	147	-2.7
200,000-249,999	89	55	61.8	146	118	23.7
250,000-349,999	103	76	35.5	180	130	38.5
350,000-449,999	44	27	63.0	71	53	34.0
450,000-549,999	19	7	171.4	38	17	123.5
550,000-649,999	8	4	100.0	14	9	55.6
650,000-749,999	10	4	150.0	13	7	85.7
750,000-999,999	3	3	0.0	7	6	16.7
1,000,000-1,499,999	0	2	-100.0	0	2	-100.0
1,500,000-1,999,999	0	0	0.0	0	0	0.0
2,000,000-2,499,999	1	0	N/A	1	1	0.0
2,500,000-2,999,999	0	0	0.0	1	0	N/A
3,000,000+	0	0	0.0	0	0	0.0
Totals	446	346	28.9	768	649	18.3

Active Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	25	31	-19.4	43	50	-14.0
50,000-99,999	66	103	-35.9	126	164	-23.2
100,000-149,999	107	205	-47.8	203	349	-41.8
150,000-199,999	170	274	-38.0	329	470	-30.0
200,000-249,999	239	274	-12.8	414	436	-5.0
250,000-349,999	462	470	-1.7	698	701	-0.4
350,000-449,999	283	263	7.6	406	386	5.2
450,000-549,999	134	128	4.7	199	183	8.7
550,000-649,999	88	75	17.3	125	107	16.8
650,000-749,999	54	51	5.9	70	62	12.9
750,000-999,999	87	81	7.4	105	100	5.0
1,000,000-1,499,999	39	40	-2.5	44	51	-13.7
1,500,000-1,999,999	21	18	16.7	26	23	13.0
2,000,000-2,499,999	4	3	33.3	7	6	16.7
2,500,000-2,999,999	8	5	60.0	9	7	28.6
3,000,000+	9	11	-18.2	11	13	-15.4
Totals	1796	2032	-11.6	2815	3108	-9.4

New Listings
	This Month			Year to Date
	2016	2015	% Chg	2016	2015	% Chg
0-49,999	10	11	-9.1	15	16	-6.2
50,000-99,999	17	38	-55.3	41	68	-39.7
100,000-149,999	50	75	-33.3	95	159	-40.3
150,000-199,999	93	92	1.1	168	204	-17.6
200,000-249,999	109	86	26.7	193	177	9.0
250,000-349,999	148	139	6.5	302	284	6.3
350,000-449,999	93	86	8.1	170	155	9.7
450,000-549,999	30	34	-11.8	76	72	5.6
550,000-649,999	28	18	55.6	58	39	48.7
650,000-749,999	19	8	137.5	25	19	31.6
750,000-999,999	26	28	-7.1	46	40	15.0
1,000,000-1,499,999	8	8	0.0	18	17	5.9
1,500,000-1,999,999	2	4	-50.0	4	11	-63.6
2,000,000-2,499,999	1	0	N/A	1	3	-66.7
2,500,000-2,999,999	0	1	-100.0	1	1	0.0
3,000,000+	2	0	N/A	4	2	100.0
Totals	636	628	1.3	1217	1267	-3.9

February Housing Market Report

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