Hello and I hope that your weekend was enjoyable. It is the first part of the month and you know what that means. It’s time to do the numbers!

 

November was another strong month in the local residential market which will help finish out a fantastic year overall. New listings on the market compared to November 2014 were almost the same which helped to stabilize our inventory a bit. Although the absorption rate still fell, it did so less sharply.

 

Some big national news also made headlines. Following a very strong jobs report, the FED has finally decided that a modest rate increase is something that the market can bare and many expect this rate change to be announced before the end of the month. This increase will affect the buying power of buyers obtaining loans and I anticipate demand to increase for homes in lower price points because of this rate hike.

 

If you do not live in the St George area, perhaps you have not seen one of the many housing projects or commercial projects happening locally. The most notable are the large grocery complexes being built in Santa Clara and Washington and the housing projects in Washington and St George.  Developers and businesses alike are noticing the improved market conditions and committing to large capital investments in the area which is a GREAT thing for the city and its residents.

 

If you have any questions about a specific area or neighborhood, please call or email me anytime. Also, see the full numbers report below. Thanks and have a great week! Dave :)

 Best, David Alderman

Painted Hills Realty

Summary Statistics

 
 

Nov-15

Nov-14

% Chg

2015 YTD

2014 YTD

% Chg

 

Absorption Rate

4.91

6.81

-27.90

5.68

6.76

-15.98

 

Average List Price

$406,613

$361,010

12.63

$328,381

$314,332

4.47

 

Median List Price

$299,900

$267,700

12.03

$258,000

$248,810

3.69

 

Average Sale Price

$271,398

$259,359

4.64

$252,684

$242,216

4.32

 

Median Sale Price

$227,900

$218,500

4.30

$220,000

$208,000

5.77

 

Average CDOM

85

96

-11.46

N/A

N/A

N/A

 

Median CDOM

37

49

-24.49

49

55

-10.91

 

 

Sold Listings
 

This Month

Year to Date
 

2015

2014

% Chg

2015

2014

% Chg

0-49,999

4

7

-42.9

62

58

6.9

50,000-99,999

12

16

-25.0

193

225

-14.2

100,000-149,999

33

39

-15.4

581

545

6.6

150,000-199,999

50

55

-9.1

750

706

6.2

200,000-249,999

63

44

43.2

661

534

23.8

250,000-349,999

51

53

-3.8

872

686

27.1

350,000-449,999

29

29

0.0

355

283

25.4

450,000-549,999

12

11

9.1

140

100

40.0

550,000-649,999

7

11

-36.4

69

64

7.8

650,000-749,999

3

2

50.0

34

27

25.9

750,000-999,999

3

4

-25.0

38

22

72.7

1,000,000-1,499,999

1

1

0.0

11

7

57.1

1,500,000-1,999,999

0

0

0.0

3

2

50.0

2,000,000-2,499,999

0

0

0.0

0

2

-100.0

2,500,000-2,999,999

1

0

N/A

1

1

0.0

3,000,000+

0

0

0.0

0

1

-100.0

Totals

269

272

-1.1

3770

3263

15.5

 

 

Pending Listings
 

This Month

Year to Date
 

2015

2014

% Chg

2015

2014

% Chg

0-49,999

6

8

-25.0

61

61

0.0

50,000-99,999

12

14

-14.3

211

228

-7.5

100,000-149,999

37

47

-21.3

602

581

3.6

150,000-199,999

61

51

19.6

842

729

15.5

200,000-249,999

53

39

35.9

700

574

22.0

250,000-349,999

75

64

17.2

919

775

18.6

350,000-449,999

40

34

17.6

414

329

25.8

450,000-549,999

18

19

-5.3

157

128

22.7

550,000-649,999

5

7

-28.6

80

59

35.6

650,000-749,999

4

2

100.0

37

32

15.6

750,000-999,999

5

9

-44.4

44

44

0.0

1,000,000-1,499,999

1

2

-50.0

11

13

-15.4

1,500,000-1,999,999

0

0

0.0

5

4

25.0

2,000,000-2,499,999

0

0

0.0

1

1

0.0

2,500,000-2,999,999

1

0

N/A

1

2

-50.0

3,000,000+

0

0

0.0

0

2

-100.0

Totals

318

296

7.4

4085

3562

14.7

 

        

 
                   
                   

 

 

Active Listings
 

This Month

Year to Date
 

2015

2014

% Chg

2015

2014

% Chg

0-49,999

31

40

-22.5

118

128

-7.8

50,000-99,999

90

91

-1.1

405

475

-14.7

100,000-149,999

122

237

-48.5

895

1033

-13.4

150,000-199,999

157

294

-46.6

1225

1330

-7.9

200,000-249,999

222

291

-23.7

1201

1234

-2.7

250,000-349,999

400

442

-9.5

1833

1828

0.3

350,000-449,999

258

270

-4.4

985

947

4.0

450,000-549,999

138

123

12.2

469

402

16.7

550,000-649,999

75

78

-3.8

266

241

10.4

650,000-749,999

50

41

22.0

146

139

5.0

750,000-999,999

72

66

9.1

202

187

8.0

1,000,000-1,499,999

23

37

-37.8

85

111

-23.4

1,500,000-1,999,999

24

12

100.0

48

40

20.0

2,000,000-2,499,999

6

4

50.0

16

9

77.8

2,500,000-2,999,999

7

7

0.0

14

12

16.7

3,000,000+

9

11

-18.2

21

19

10.5

Totals

1684

2044

-17.6

7929

8135

-2.5

 

 

New Listings
 

This Month

Year to Date
 

2015

2014

% Chg

2015

2014

% Chg

0-49,999

4

5

-20.0

82

101

-18.8

50,000-99,999

21

18

16.7

309

358

-13.7

100,000-149,999

32

51

-37.3

707

844

-16.2

150,000-199,999

52

67

-22.4

959

1070

-10.4

200,000-249,999

70

57

22.8

942

988

-4.7

250,000-349,999

87

81

7.4

1419

1442

-1.6

350,000-449,999

62

53

17.0

752

744

1.1

450,000-549,999

18

21

-14.3

358

309

15.9

550,000-649,999

13

11

18.2

199

184

8.2

650,000-749,999

6

4

50.0

103

106

-2.8

750,000-999,999

11

11

0.0

141

141

0.0

1,000,000-1,499,999

4

4

0.0

53

76

-30.3

1,500,000-1,999,999

2

1

100.0

37

25

48.0

2,000,000-2,499,999

2

1

100.0

13

5

160.0

2,500,000-2,999,999

0

0

0.0

9

6

50.0

3,000,000+

0

1

-100.0

10

14

-28.6

Totals

384

386

-0.5

6093

6413

-5.0

 

 

Information is deemed to be reliable, but is not guaranteed. © 2015 MLS and FBS. Prepared by DAVID ALDERMAN on Monday, December 07, 2015 5:42 PM.