Oct. 23, 2015

The Local Lookout- October

The Local Lookout

Highland Park

This month’s Local Lookout details one of my favorite parks- Highland Park in Coral Canyon. This Washington City public park is located in the Coral Canyon neighborhood and offers some of the best 360 degree views in town.

Featuring 2 large grassed areas and a few different pavilions, this is an ideal place to hold an event like a family reunion BBQ. For the young kids or for the young at heart, the park has a couple of different playground areas with all the fun stuff like swings and slides.

The park is a great starting and stopping point for miles of paved trails around the ridge and down into the main part of the Coral Canyon neighborhood. It is also a great place to access Church Rocks Trail on the other side of 1-15 in the Red Desert Reserve, an area which will undoubtedly get featured on another Local Lookout.

My favorite thing about the park is the views. From here, you can see Pine Valley Mountain, Kolob Canyon, Zion, Sand Hollow, Utah Hill and the city of St George and Washington. Come for a picnic, a date, to throw around the Frisbee, to play with the kids, to take a nap in the park, or to take a hike in the Red Desert Reserve. This is a FANTASTIC park and the price is right.

Call or email me for more info or directions to the park and make sure to go out and enjoy the beautiful weather that we are in store for the next 10 days!

Best, Dave :)

Posted in Local Lookout

no comments yet

Oct. 3, 2015

September Market Report

-September Market Report-

Happy Saturday to you and I hope that your weekend is going well so far. It is the first week of the month and you know what that means- It’s time to do the numbers!

September was big for the housing market on a national level because Janet Yellen and the Fed decided to keep interest rates where they are. Good, bad, or indifferent, that means that buyers can afford more home and sellers have a bigger buyer pool to market to. That’s good news for buyers and sellers currently in the market. Although no one knows when rates will rise, most economists anticipate an interest rate rise before the end of 2015 which decreases buyers purchase power.

Locally, we have seen many of the same trends as last month. Low inventory, increased prices. We are currently at about a 5 month supply which is lower than it has been in a long time and is contributing to the rising average sale price. If are thinking about selling or know anyone who is, let me know as you may be surprised what your home is worth. See the full report below and if you have specific questions, please call or email me as I would love to help!

Summary Statistics

Sep-15

Sep-14

% Chg

2015 YTD

2014 YTD

% Chg

Absorption Rate

5.07

7.04

-27.98

5.79

6.66

-13.06

Average List Price

$399,511

$352,207

13.43

$330,103

$315,187

4.73

Median List Price

$299,900

$265,000

13.17

$259,000

$247,000

4.86

Average Sale Price

$248,094

$218,595

13.49

$250,309

$241,312

3.73

Median Sale Price

$220,000

$189,900

15.85

$220,000

$206,000

6.80

Average CDOM

79

80

-1.25

N/A

Median CDOM

39

43

-9.30

53

55

-3.64

Sold Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	5	10	-50.0	49	45	8.9
50,000-99,999	16	27	-40.7	161	188	-14.4
100,000-149,999	67	45	48.9	495	441	12.2
150,000-199,999	62	85	-27.1	632	576	9.7
200,000-249,999	61	38	60.5	541	430	25.8
250,000-349,999	75	62	21.0	735	548	34.1
350,000-449,999	30	21	42.9	283	229	23.6
450,000-549,999	12	10	20.0	114	80	42.5
550,000-649,999	5	3	66.7	56	48	16.7
650,000-749,999	2	2	0.0	27	20	35.0
750,000-999,999	5	1	400.0	26	17	52.9
1,000,000-1,499,999	1	0	N/A	9	5	80.0
1,500,000-1,999,999	0	0	0.0	4	2	100.0
2,000,000-2,499,999	0	0	0.0	0	2	-100.0
2,500,000-2,999,999	0	0	0.0	0	1	-100.0
3,000,000+	0	0	0.0	0	1	-100.0
Totals	341	304	12.2	3132	2633	19.0

Pending Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	3	8	-62.5	49	50	-2.0
50,000-99,999	19	21	-9.5	182	196	-7.1
100,000-149,999	53	66	-19.7	527	485	8.7
150,000-199,999	66	60	10.0	702	619	13.4
200,000-249,999	62	38	63.2	579	475	21.9
250,000-349,999	75	81	-7.4	770	635	21.3
350,000-449,999	44	24	83.3	342	257	33.1
450,000-549,999	17	8	112.5	134	92	45.7
550,000-649,999	3	3	0.0	66	44	50.0
650,000-749,999	5	1	400.0	32	27	18.5
750,000-999,999	7	3	133.3	39	30	30.0
1,000,000-1,499,999	2	1	100.0	10	10	0.0
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	0	0	0.0	0	2	-100.0
3,000,000+	0	1	-100.0	0	2	-100.0
Totals	356	315	13.0	3438	2929	17.4

Active Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	28	35	-20.0	106	111	-4.5
50,000-99,999	77	114	-32.5	351	435	-19.3
100,000-149,999	143	228	-37.3	810	911	-11.1
150,000-199,999	188	295	-36.3	1089	1171	-7.0
200,000-249,999	224	297	-24.6	1022	1074	-4.8
250,000-349,999	388	457	-15.1	1613	1591	1.4
350,000-449,999	264	259	1.9	863	827	4.4
450,000-549,999	146	108	35.2	420	343	22.4
550,000-649,999	76	82	-7.3	234	210	11.4
650,000-749,999	51	47	8.5	133	126	5.6
750,000-999,999	74	70	5.7	180	165	9.1
1,000,000-1,499,999	28	34	-17.6	80	103	-22.3
1,500,000-1,999,999	21	15	40.0	42	38	10.5
2,000,000-2,499,999	4	3	33.3	12	8	50.0
2,500,000-2,999,999	6	7	-14.3	14	11	27.3
3,000,000+	10	7	42.9	20	16	25.0
Totals	1728	2058	-16.0	6989	7140	-2.1

New Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	8	10	-20.0	70	84	-16.7
50,000-99,999	25	27	-7.4	256	316	-19.0
100,000-149,999	50	82	-39.0	619	722	-14.3
150,000-199,999	79	105	-24.8	821	910	-9.8
200,000-249,999	89	86	3.5	760	827	-8.1
250,000-349,999	137	126	8.7	1191	1205	-1.2
350,000-449,999	63	72	-12.5	631	624	1.1
450,000-549,999	33	28	17.9	307	249	23.3
550,000-649,999	9	19	-52.6	165	153	7.8
650,000-749,999	9	6	50.0	89	93	-4.3
750,000-999,999	9	13	-30.8	119	118	0.8
1,000,000-1,499,999	3	4	-25.0	46	66	-30.3
1,500,000-1,999,999	4	2	100.0	30	23	30.4
2,000,000-2,499,999	0	0	0.0	9	4	125.0
2,500,000-2,999,999	2	0	N/A	8	5	60.0
3,000,000+	2	3	-33.3	9	11	-18.2
Totals	522	583	-10.5	5130	5410	-5.2

Posted in Housing Market

no comments yet

Sept. 18, 2015

The Local Lookout- September

The Local Lookout

Thunder Mountain Trail

I hope that you are having a FANTASTIC week so far! This past weekend was a fun one for me because I got to try a new Southern Utah trail -Thunder Mountain. Located on the way to Bryce Canyon, Thunder Mountain trail is about a 2 hour drive from St George and an excellent day hike or pit stop on the way to Bryce Canyon.

This area is very similar to Bryce Canyon with towering Hoodoo’s and breathtaking crimson canyons, but it lacks the crowds Bryce Canyon has and the price it right. It’s free!

Although I road this trail on my mountain bike, I saw a hiker and 2 horseback riders enjoying the trail as much as I was. At a starting elevation of 7000 feet, make sure to knock this one off the list soon as it will be covered in snow before too long.

There are several ways to access this trail which can lengthen or shorten the distance traveled depending on how much time you have and whether you are on a mountain bike or on foot. If you are hiking, it is an out and back hike of 8 miles round trip starting from the Thunder Mountain trailhead off of highway 12. If you bike, start at the Coyote Hollow Trailhead or take the Red Canyon Bicycle Trail up to Coyote Hollow Trailhead.

It is a TON of fun and a really beautiful part of the state – I recommend driving through the east side of Zion National Park to get there. Have a fun and safe weekend and please let me know if you have any more questions about the area.

For more information about the trail, visit http://www.utah-trails.com/Thunder-Mountain-Trail (hikers) or http://www.mtbproject.com/trail/1868735 (bikers)

Posted in Local Lookout

no comments yet

Sept. 8, 2015

August Market Report

I hope that you had a fantastic Labor Day weekend and welcome to Fall! It’s the first part of the month and you know what that means. It’s time to do the numbers.

August finished strong and ended the busiest summer the St George market has seen in a long time. We tend to see a slowdown in July and August when temperatures are high - but both July and August proved to be strong months.

The trend that we keep seeing is a decrease in inventory (the absorption rate). August saw an 18% increase in Sold listings compared to last August. This keeps pushing the inventory levels lower because not enough new listings are hitting the market to compensate for the number of sold listings coming off of the market. This trend also keep pushing prices up. Hopefully, we will see a surge in new listings coming on the market in September and October to get inventory levels back up for the fall season.

The major question on everyone’s mind this month is whether or not the Fed will raise interest rates. Please see the full report below and please let me know if you have any questions about it. Have a GREAT week!

Summary Statistics

Aug-15

Aug-14

% Chg

2015 YTD

2014 YTD

% Chg

Absorption Rate

5.08

6.77

-24.96

5.87

6.61

-11.20

Average List Price

$397,926

$348,533

14.17

$330,559

$315,667

4.72

Median List Price

$299,000

$264,900

12.87

$259,000

$247,900

4.48

Average Sale Price

$305,260

$241,797

26.25

$258,230

$244,277

5.71

Median Sale Price

$213,000

$204,199

4.31

$220,000

$209,000

5.26

Average CDOM

103

97

6.19

N/A

Median CDOM

42

45

-6.67

54

57

-5.26

Sold Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	6	2	200.0	42	35	20.0
50,000-99,999	24	22	9.1	143	161	-11.2
100,000-149,999	46	49	-6.1	423	396	6.8
150,000-199,999	68	64	6.3	567	491	15.5
200,000-249,999	56	38	47.4	478	392	21.9
250,000-349,999	74	57	29.8	654	486	34.6
350,000-449,999	25	30	-16.7	253	208	21.6
450,000-549,999	13	10	30.0	103	70	47.1
550,000-649,999	8	5	60.0	49	45	8.9
650,000-749,999	0	1	-100.0	23	18	27.8
750,000-999,999	1	3	-66.7	21	16	31.3
1,000,000-1,499,999	1	1	0.0	8	5	60.0
1,500,000-1,999,999	0	0	0.0	4	2	100.0
2,000,000-2,499,999	0	0	0.0	0	2	-100.0
2,500,000-2,999,999	0	0	0.0	0	1	-100.0
3,000,000+	1	0	N/A	1	1	0.0
Totals	323	282	14.5	2769	2329	18.9

Pending Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	7	7	0.0	45	42	7.1
50,000-99,999	19	25	-24.0	163	175	-6.9
100,000-149,999	63	54	16.7	477	419	13.8
150,000-199,999	83	83	0.0	644	559	15.2
200,000-249,999	57	46	23.9	519	437	18.8
250,000-349,999	79	78	1.3	692	554	24.9
350,000-449,999	17	28	-39.3	298	233	27.9
450,000-549,999	12	6	100.0	116	84	38.1
550,000-649,999	9	3	200.0	62	41	51.2
650,000-749,999	1	5	-80.0	26	26	0.0
750,000-999,999	5	1	400.0	32	27	18.5
1,000,000-1,499,999	0	1	-100.0	8	9	-11.1
1,500,000-1,999,999	1	0	N/A	5	4	25.0
2,000,000-2,499,999	0	0	0.0	1	1	0.0
2,500,000-2,999,999	0	0	0.0	0	2	-100.0
3,000,000+	0	0	0.0	0	1	-100.0
Totals	353	337	4.7	3088	2614	18.1

Active Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	28	39	-28.2	95	99	-4.0
50,000-99,999	85	119	-28.6	324	399	-18.8
100,000-149,999	154	230	-33.0	755	825	-8.5
150,000-199,999	196	287	-31.7	1000	1052	-4.9
200,000-249,999	206	286	-28.0	921	984	-6.4
250,000-349,999	381	462	-17.5	1457	1454	0.2
350,000-449,999	246	237	3.8	789	750	5.2
450,000-549,999	135	106	27.4	381	313	21.7
550,000-649,999	72	76	-5.3	221	190	16.3
650,000-749,999	50	51	-2.0	121	118	2.5
750,000-999,999	84	65	29.2	171	151	13.2
1,000,000-1,499,999	27	33	-18.2	75	96	-21.9
1,500,000-1,999,999	21	14	50.0	37	35	5.7
2,000,000-2,499,999	4	3	33.3	12	8	50.0
2,500,000-2,999,999	7	6	16.7	11	11	0.0
3,000,000+	9	7	28.6	18	12	50.0
Totals	1705	2021	-15.6	6388	6497	-1.7

New Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	7	8	-12.5	61	74	-17.6
50,000-99,999	27	33	-18.2	229	289	-20.8
100,000-149,999	56	77	-27.3	569	640	-11.1
150,000-199,999	75	106	-29.2	739	804	-8.1
200,000-249,999	81	83	-2.4	664	742	-10.5
250,000-349,999	115	113	1.8	1049	1079	-2.8
350,000-449,999	67	70	-4.3	561	552	1.6
450,000-549,999	23	28	-17.9	273	221	23.5
550,000-649,999	21	15	40.0	154	134	14.9
650,000-749,999	12	10	20.0	78	87	-10.3
750,000-999,999	7	9	-22.2	111	105	5.7
1,000,000-1,499,999	7	6	16.7	43	62	-30.6
1,500,000-1,999,999	2	1	100.0	26	21	23.8
2,000,000-2,499,999	2	1	100.0	9	4	125.0
2,500,000-2,999,999	0	1	-100.0	6	5	20.0
3,000,000+	1	1	0.0	7	8	-12.5
Totals	503	562	-10.5	4579	4827	-5.1

Posted in Housing Market

no comments yet

Aug. 19, 2015

The Local Lookout- August

The Local Lookout

Tuachan Amphitheatre

This month’s Local Lookout features a great place in St George to see a show. Tuachan Amphitheater. Tuachan is located in Ivins very close to Snow Canyon State Park and is tucked into towering walls of red rock on 3 sides offering fantastic views of the stage and the beautiful natural backdrop of Padre Canyon from every seat. The amphitheater features world class theatrical shows based primarily on Disney creations and is a professional not for profit production. Beginning in June and continuing into November, there is a show or concert at Tuachan for everyone. From the Pink Floyd Laser Light Show to Beauty and the Beast, Tuachan offers a wonderful lineup in a family friendly environment.

Most of the performances start after dark so in the summer time, expect a late night but the shows are worth staying up late for. I have to admit that I underestimated the production value of the shows and many of the sets feature complicated and visually stunning features you would see in major productions across the country. Having seen a variety of different Disney productions, Thriller, and 2 different concerts, I have yet to be disappointed by the productions Tuachan puts on. If you come to the show early, Tuachan offers pre-show dinner but be sure to contact the theater beforehand as dinners vary in timing and availability.

Another wonderful event this locale has to offer is the Saturday Market which occurs every Saturday Morning and is a free event featuring artwork, food, crafts, services, and entertainment from local vendors. Tuachan is definitely worth checking out on a date night, with friends and family, or on a quiet Saturday morning. For more information about Tuachan, visit their website at www.tuachan.org.

Posted in Local Lookout

no comments yet

Aug. 7, 2015

July Market Report

Happy Friday to you and I hope that you are able to enjoy the weekend with your families and loved ones! It’s the first week of the month and that means that it’s time to do the numbers. Our local market is following the national trend... Low Inventory!!! July saw a 21% increase YTD in sold listings which has only added to low inventory levels across Washington County.

These low levels are contributing to the steady climb of the average sales price and average list price of homes in the area. Many feel that the trend is being caused by sellers unwilling or unable to find a home they would prefer to live in regardless of their need to upgrade or downgrade their living situation.

-Here is the good news for sellers locally: As the weather starts to cool down for the season, we will see a surge in buyer activity that has already been strong for the year.

-Good news for buyers is this: July saw a 7% increase in new listings to the market, which will be a trend I anticipate to continue through the remainder of the quarter. Hopefully, we will see an inventory level increase which will keep homes as affordable as possible.

One of the best numbers that I see below is the average sale price. Year to date, average sale price has increased by 3.9% which is a solid, sustainable, healthy rise and something that everybody should be happy about. Please have a look at the full report below and let me know if you have any questions.

Best, Dave

Summary Statistics

Jul-15

Jul-14

% Chg

2015 YTD

2014 YTD

% Chg

Absorption Rate

5.34

6.83

-21.82

5.98

6.59

-9.26

Average List Price

$393,068

$347,390

13.15

$332,619

$317,201

4.86

Median List Price

$289,950

$264,000

9.83

$259,500

$248,950

4.24

Average Sale Price

$250,479

$236,232

6.03

$254,163

$244,619

3.90

Median Sale Price

$225,000

$209,700

7.30

$221,700

$209,500

5.82

Average CDOM

89

107

-16.82

N/A

Median CDOM

39

60

-35.00

55

57

-3.51

Sold Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	5	5	0.0	37	33	12.1
50,000-99,999	17	25	-32.0	116	139	-16.5
100,000-149,999	57	58	-1.7	371	347	6.9
150,000-199,999	76	47	61.7	498	427	16.6
200,000-249,999	66	69	-4.3	421	354	18.9
250,000-349,999	92	69	33.3	576	429	34.3
350,000-449,999	38	20	90.0	226	178	27.0
450,000-549,999	18	7	157.1	86	60	43.3
550,000-649,999	4	4	0.0	41	40	2.5
650,000-749,999	3	2	50.0	22	17	29.4
750,000-999,999	2	0	N/A	20	13	53.8
1,000,000-1,499,999	0	1	-100.0	7	4	75.0
1,500,000-1,999,999	1	0	N/A	4	2	100.0
2,000,000-2,499,999	0	0	0.0	0	2	-100.0
2,500,000-2,999,999	0	1	-100.0	0	1	-100.0
3,000,000+	0	0	0.0	1	1	0.0
Totals	379	308	23.1	2426	2047	18.5

Pending Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	5	4	25.0	38	35	8.6
50,000-99,999	27	28	-3.6	143	150	-4.7
100,000-149,999	66	57	15.8	423	365	15.9
150,000-199,999	81	64	26.6	560	476	17.6
200,000-249,999	67	42	59.5	460	391	17.6
250,000-349,999	89	92	-3.3	618	476	29.8
350,000-449,999	33	18	83.3	280	205	36.6
450,000-549,999	12	16	-25.0	105	78	34.6
550,000-649,999	15	5	200.0	52	38	36.8
650,000-749,999	2	2	0.0	25	21	19.0
750,000-999,999	6	5	20.0	28	26	7.7
1,000,000-1,499,999	2	2	0.0	8	8	0.0
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	0	0	0.0	0	2	-100.0
3,000,000+	0	0	0.0	0	1	-100.0
Totals	405	335	20.9	2746	2277	20.6

Active Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	28	41	-31.7	85	93	-8.6
50,000-99,999	96	112	-14.3	295	375	-21.3
100,000-149,999	156	241	-35.3	701	751	-6.7
150,000-199,999	231	294	-21.4	928	959	-3.2
200,000-249,999	213	278	-23.4	843	905	-6.9
250,000-349,999	384	485	-20.8	1349	1351	-0.1
350,000-449,999	233	239	-2.5	720	683	5.4
450,000-549,999	133	103	29.1	363	289	25.6
550,000-649,999	74	77	-3.9	199	175	13.7
650,000-749,999	51	47	8.5	113	111	1.8
750,000-999,999	87	61	42.6	163	142	14.8
1,000,000-1,499,999	32	39	-17.9	72	94	-23.4
1,500,000-1,999,999	21	15	40.0	36	35	2.9
2,000,000-2,499,999	3	3	0.0	11	7	57.1
2,500,000-2,999,999	7	6	16.7	12	10	20.0
3,000,000+	9	6	50.0	17	12	41.7
Totals	1758	2047	-14.1	5907	5992	-1.4

New Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	2	6	-66.7	51	66	-22.7
50,000-99,999	25	37	-32.4	200	256	-21.9
100,000-149,999	76	68	11.8	514	563	-8.7
150,000-199,999	96	96	0.0	665	699	-4.9
200,000-249,999	78	69	13.0	584	658	-11.2
250,000-349,999	130	129	0.8	937	967	-3.1
350,000-449,999	69	55	25.5	494	481	2.7
450,000-549,999	38	23	65.2	251	194	29.4
550,000-649,999	23	14	64.3	135	118	14.4
650,000-749,999	9	9	0.0	68	78	-12.8
750,000-999,999	16	14	14.3	104	95	9.5
1,000,000-1,499,999	4	8	-50.0	39	57	-31.6
1,500,000-1,999,999	0	2	-100.0	25	20	25.0
2,000,000-2,499,999	1	1	0.0	8	3	166.7
2,500,000-2,999,999	2	1	100.0	7	4	75.0
3,000,000+	1	1	0.0	6	7	-14.3
Totals	570	533	6.9	4088	4266	-4.2

Posted in Housing Market

no comments yet

July 22, 2015

The Local Lookout- July

The Local Lookout

Sand Hollow State Park

This month’s Local Lookout features a favorite for many of those who visit St George in the summertime or who live here year round. Sand Hollow State Park is a relatively new park that officially opened in 2003 and its two main features are the reservoir and the sand dunes.

Sand Hollow has an incredible amount of things to do all year long and many choose to take advantage of the water this time of year to cool off. With 1300 surface acres of water, the reservoir is relatively large compared to Quail Creek, Gunlock, or Kolob reservoirs. Motorized watersports of all kinds are popular on the reservoir and many people who go there know that you don’t have to have a boat or jet ski to have a great time. There are TONS of activities to do without a boat as well. Fishing, swimming, kayaking, snorkeling, cliff jumping, and just sitting on the red sand beach are all popular.

Jutting off of the reservoir to the south and east are 6000 acres of red sand dunes that are OHV friendly. This is a prized area for OHV enthusiasts because it is open terrain meaning you can drive in any direction within the designated area without having to stick to a trail. The far south and west areas of the dunes offer magnificent views of Werner Valley and Arizona which you are viewing from the top of a 200 foot cliff.

With its diverse array of activities, Sand Hollow State Park is a local favorite and hosts events such as the St George Iron Man, Pro Watercross, the Sand Hollow Marathon, and many more. St George in the summertime does not have to be an air conditioned way of life! Get out and visit the reservoir and cool off while enjoying the beauty of the desert. For more information, visit http://stateparks.utah.gov/parks/sand-hollow/ or just give me a call! Have a great week.

Posted in Local Lookout

no comments yet

July 8, 2015

June Market Report

I hope that you had a wonderful 4^th of July! June saw many of the same trends that prior months have seen in regards to the number of sales, the number of homes currently available on the market, and the number of homes coming on to the market.

· SOLD listings increased 16.3% YTD and decreased 23.7% compared to June 2014

· ACTIVE listings decreased 2.3% YTD and are down 13% compared to last June.

· NEW listings are down 7.1% YTD and decreased 15.7% compared to June of 2014

So, what does this mean? Inventory (the absorption rate) is down to a very low level. 5.48. When supply goes down, demand increases and prices rise. I anticipate this trend to continue into July as PENDING listings are up 22.5% this month compared to last June, which is a good indicator suggesting that SOLD listings for the month of July will be higher than last July. The hot weather and perspective interest rate rise will be factors which may offset major price increases but that remains to be seen. This is a breakdown of what is going on in the county and if you would like a breakdown of a smaller market or neighborhood, let me know. Be sure to see all the numbers below!

Summary Statistics

Jun-15

Jun-14

% Chg

2015 YTD

2014 YTD

% Chg

Absorption Rate

5.48

6.69

-18.09

6.06

6.55

-7.48

Average List Price

$389,861

$349,823

11.45

$334,815

$317,933

5.31

Median List Price

$289,900

$265,000

9.40

$259,900

$249,000

4.38

Average Sale Price

$269,974

$253,657

6.43

$252,233

$246,104

2.49

Median Sale Price

$234,950

$200,000

17.48

$221,500

$209,450

5.75

Average CDOM

100

103

-2.91

100

N/A

Median CDOM

47

44

6.82

57

56

1.79

Sold Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	1	5	-80.0	32	28	14.3
50,000-99,999	15	18	-16.7	97	114	-14.9
100,000-149,999	40	54	-25.9	313	289	8.3
150,000-199,999	79	73	8.2	413	380	8.7
200,000-249,999	75	54	38.9	353	285	23.9
250,000-349,999	92	58	58.6	477	360	32.5
350,000-449,999	48	23	108.7	186	158	17.7
450,000-549,999	19	12	58.3	68	53	28.3
550,000-649,999	8	5	60.0	37	36	2.8
650,000-749,999	7	3	133.3	19	15	26.7
750,000-999,999	1	5	-80.0	18	13	38.5
1,000,000-1,499,999	0	1	-100.0	7	3	133.3
1,500,000-1,999,999	1	0	N/A	3	2	50.0
2,000,000-2,499,999	0	0	0.0	0	2	-100.0
2,500,000-2,999,999	0	0	0.0	0	0	0.0
3,000,000+	0	1	-100.0	0	1	-100.0
Totals	386	312	23.7	2023	1739	16.3

Pending Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	6	7	-14.3	33	31	6.5
50,000-99,999	23	25	-8.0	120	122	-1.6
100,000-149,999	55	60	-8.3	354	308	14.9
150,000-199,999	71	60	18.3	480	412	16.5
200,000-249,999	59	67	-11.9	396	349	13.5
250,000-349,999	91	55	65.5	532	384	38.5
350,000-449,999	52	26	100.0	250	187	33.7
450,000-549,999	21	11	90.9	90	62	45.2
550,000-649,999	3	2	50.0	37	33	12.1
650,000-749,999	2	1	100.0	24	19	26.3
750,000-999,999	3	2	50.0	22	21	4.8
1,000,000-1,499,999	1	0	N/A	6	6	0.0
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	0	0	0.0	0	2	-100.0
3,000,000+	0	0	0.0	0	1	-100.0
Totals	387	316	22.5	2350	1942	21.0

Active Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	32	37	-13.5	81	84	-3.6
50,000-99,999	101	121	-16.5	265	330	-19.7
100,000-149,999	160	229	-30.1	619	679	-8.8
150,000-199,999	219	257	-14.8	826	851	-2.9
200,000-249,999	209	290	-27.9	749	831	-9.9
250,000-349,999	395	494	-20.0	1208	1213	-0.4
350,000-449,999	235	241	-2.5	650	623	4.3
450,000-549,999	129	100	29.0	314	264	18.9
550,000-649,999	80	73	9.6	176	160	10.0
650,000-749,999	43	50	-14.0	105	100	5.0
750,000-999,999	83	60	38.3	145	126	15.1
1,000,000-1,499,999	36	42	-14.3	68	84	-19.0
1,500,000-1,999,999	20	16	25.0	35	32	9.4
2,000,000-2,499,999	3	3	0.0	10	6	66.7
2,500,000-2,999,999	6	6	0.0	9	9	0.0
3,000,000+	9	5	80.0	16	10	60.0
Totals	1760	2024	-13.0	5276	5402	-2.3

New Listings
	This Month			Year to Date
	2015	2014	% Chg	2015	2014	% Chg
0-49,999	5	13	-61.5	48	59	-18.6
50,000-99,999	19	39	-51.3	169	220	-23.2
100,000-149,999	62	89	-30.3	433	495	-12.5
150,000-199,999	79	104	-24.0	567	603	-6.0
200,000-249,999	79	88	-10.2	492	589	-16.5
250,000-349,999	116	115	0.9	799	838	-4.7
350,000-449,999	62	65	-4.6	424	426	-0.5
450,000-549,999	29	26	11.5	205	171	19.9
550,000-649,999	14	13	7.7	111	104	6.7
650,000-749,999	10	13	-23.1	60	69	-13.0
750,000-999,999	12	14	-14.3	88	80	10.0
1,000,000-1,499,999	3	5	-40.0	33	50	-34.0
1,500,000-1,999,999	4	1	300.0	24	18	33.3
2,000,000-2,499,999	0	0	0.0	7	2	250.0
2,500,000-2,999,999	0	1	-100.0	4	3	33.3
3,000,000+	0	0	0.0	5	6	-16.7
Totals	494	586	-15.7	3469	3733	-7.1

Posted in Housing Market

no comments yet

June 19, 2015

The Local Lookout- June

Yes, it is time for another edition of The Local Lookout! For June, I chose to feature a new event taking place in St George every month during the summer. It’s called George Streetfest and June was the inaugural event. Sponsored by the city of St George, it is designed to incorporate some nightlife activities into the downtown area.

When I arrived at around 6:30, the main concert area was featuring some local artists playing a variety of different music. There were vendors selling art, food, and other goods and services that you would expect to buy at a street fair. In the parking lot next to the Bear Paw, several food trucks were cooking up everything from burgers to waffles!

It was evident that the city was making a real effort to draw locals as well as tourists to the event by offering a wide variety of different things to do. This was an event for all ages and had something for everyone. An estimated 2500 people attended and one of the things that I really enjoyed about it is that the city is still small enough that seeing someone else you know there is almost guaranteed. The next First Friday is set to take place on the 3^rd of July and promises to feature more artists and vendors. I am guessing that more people will be there too. I hope to see you there!

For more information about the event, visit http://www.stgeorgedowntown.com/

The event also has a Facebook page at https://www.facebook.com/GeorgeFirstFridayStreetfest

Posted in Local Lookout

no comments yet

June 11, 2015

May Market Report

The local Washington County market had another strong month heading into the summer season. Two of the strongest numbers that we saw are the Sold Listings and Pending Listings.

Year to date, Sold Listings are up 12.8% and Pending Listings are up 22.6%. This will likely continue to nudge the Average List Price up as supply decreases and demand increases.

Third quarter may offset any substantial price increase as these are typically our slowest months but I still anticipate a marginal price increase over the next 3 months.

Posted in Housing Market

no comments yet

FIND YOUR ST. GEORGE, UTAH HOME

Learn More About The Area

The Local Lookout- October

The Local Lookout

Highland Park

September Market Report

The Local Lookout- September

August Market Report

The Local Lookout- August

July Market Report

The Local Lookout- July

June Market Report

The Local Lookout- June

May Market Report

Categories

Archives

Sites We Follow