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Is St. George in a BUYER, or SELLER’s market?
As we approach the end of the summer, the weather continues to be hot, but what did you expect?! To distract you from the heat, here’s a brief but POWERFUL update on what’s going on with St. George real estate. The first thing we want to talk about is sales data and how that determines whether we are in a BUYER, SELLER, or NUETRAL real estate market.
Some fun facts:
Since Jan. 1, 2014, our MLS records indicate that Washington County has seen approximately 263 sales per month which equates to about 1800 home sales through July.
BUT WAIT!…..THERE’S MORE! (cue the infomercial music….)
With every sale, there are actually TWO parties – both a Buyer and Seller, so every single St. George real estate transaction is actually TWO transactions! Following that theory, there have been more like 3600 families/Investors/businesses buy or sell Washington County Real Estate in Washington County this year!
BUT WAIT….THERE’S EVEN MORE!!!!
When you multiply those figures by the average sales price of $252,000 in Washington County, you can see that A LOT of money is moving around this real estate market.
What you need to know:
- The average # of days to sell a home to date 2014: 110 days, or just under 4 months (depending on your area and the Agent you’re working with)
- Overall, most folks are selling their homes for 95-99% of their full asking price (again, depending on area and your Agent) for their home – that ain’t bad!
- There is approximately 6.1 months of housing inventory available in Washington County.
So is this a BUYER, SELLER or NEUTRAL market?
St. George is currently in a healthy, neutral market, based on this rule of thumb:
- 1-3 months inventory: Seller’s market
- 4-6 months inventory: Neutral market
- 7+ mos inventory: Buyer’s market
Not a lot of movement up or down in St. George home values. And that is OK as it will ultimately benefit buyers and sellers as the market stabilizes.
Remember this is still specific to YOUR NEIGHBORHOOD!
If you would like to take a look at all of the data I’ve shared and more, feel free to visit the rest of our website and click on the “our market” link for all of the latest statistics. If you’re a real estate numbers “nerd”, you’ll be glad you did!
We have so much more information for you to see. For right now, we have got a healthy, neutral market and in coming videos, we will let you know what to expect in terms of rumor of the real estate market crashing again – STAY TUNED.
Our contact info as always, (435) 215-4333 or email us: firstname.lastname@example.org.