Southern Utah Real Estate Market, What happened in May

I hope everyone is kicking off a nice summer vacation. I am just getting ready for my annual Lake Powell Hurricane experience. I don't mean the Hurricane close to St. George, pronounced Hurricun, I mean the real windy storm that make you feel like everything you hold precious is going to be scooped up, and thrown for miles, never to be returned again. Last year I almost killed my older brother, which on second thought, he probably deserves, based on all of the dryer and toy box down the stair rides of my youth. If it isn’t too much trouble, please keep us in your thoughts and prayers, and if we have the 50-60 MPH micro-bursts again, I am selling my share, and that is a promise. I can’t wait to report the drama of the saga.

As always, I want to thank those that make my livelihood possible. I cannot tell you how grateful I am for all of you and your loyalty to me and my business. Thank you so much for hanging in there with us through the thick and thin. Some of you have been great friends for years, and others of you, we are just starting down that path. Here is what closed in May:

1. Aurora Servicing (Sold Listing) thanks to the bank.
2. Stan and Sylvia Prescott (Purchase)
3. Greg and Liza Smith (Sold Listing)
4. Boyer Green Valley LC (Sold Listing)
5. Darryl and Joanne Layne (Purchase)

Thank you so much. Stan and Sylvia are referrals from Amorie Eames a past client, Greg and I have played early morning ball for a few years, Green Valley LC is kind enough to have me help with a subdivision and Darryl and Joanne Layne, we just sold their house in April, so thanks for being repeat performers.

We have seen good activity; maybe we are shaking a few cob webs. This is the first time in about two and a half years that I think the trends are leveling. I can honestly say, with little hesitation, that I think we are skipping along the bottom of the pond right now. I am not sure we how long we are going to be there, it could be a while, but I think a great deal now is a great deal, and maybe even a good deal is a good deal right now. If you got the money, I say buy! We have low rates, good inventory, and low prices. What more do you want?

One more mention, if anyone wants to become a better photographer, one of my wife’s good friends is teaching classes on how to do so. They are locations shoots and it’s called a Hitch Hikers Guide to Lifestyle Fotography. She teaches about lighting, subject matter etc. Check out her site its http://mytickledpinkphoto.com/blog/. You can sign up to take the class for a nominal fee. I hear it is awesome!

Now for the numbers.

Total Market Activity on Homes in May

Active Listings: 1,677 (Apr 1,495
)New Listings: 269 (Apr 326)
Sold Listings: 209 (Apr 219)
Months of Inventory: 8.02 (Apr 6.83)

Homes priced up to $150,000
Active Listings: 252(Apr 223)
New Listings: 45 (Apr 57)
Sold Listings: 44 (Apr 46)
Months of Inventory: 5.73 (Apr 4.85)

Homes priced from $150,001 to $200,000
Active Listings: 300 (Apr 258)
New Listings: 63 (Apr 74)
Sold Listings: 50 (Apr 51)
Months of Inventory: 6.00 (Apr 5.06)

Homes priced from $200,001 to $250,000
Active Listings: 262 (Apr 239)
New Listings: 44 (Apr 48)
Sold Listings: 38 (Apr 40)
Months of Inventory: 6.89 (Apr 5.97)

Homes priced from $250,001 to $300,000
Active Listings: 217 (Apr 187)
New Listings: 32 (Apr 48)
Sold Listings: 23 (Apr 22)
Months of Inventory: 9.43 (Apr 8.50)

Homes priced from $300,001 to $350,000
Active Listings: 128 (Apr 119)
New Listings: 19 (Apr 18)
Sold Listings: 19 (Apr 28)
Months of Inventory: 6.74 (Apr 4.25)

Homes priced from $350,001 to $400,000
Active Listings: 114 (Apr 103)
New Listings: 18 (Apr 29)
Sold Listings: 13 (Apr 12)
Months of Inventory: 8.77 (Apr 8.58)

Homes priced from $400,001 to $450,000
Active Listings: 59 (Apr 54 )
New Listings: 9 (Apr 8)
Sold Listings: 6 (Apr 2)
Months of Inventory: 9.83 (Apr 27.00)

Homes priced from $450,001 to $500,000
Active Listings: 60 (Apr 59)
New Listings: 5 (Apr 7)
Sold Listings: 4 (Apr 3)
Months of Inventory: 15.00 (Apr 19.67)

Homes priced from $500,001 to $550,000
Active Listings: 32 (Apr 29)
New Listings: 3 (Apr 4)
Sold Listings: 3 (Apr 2)
Months of Inventory: 10.67 (Apr 14.50)

Homes priced from $550,001 to $600,000
Active Listings: 51 (Apr 48)
New Listings: 3 (Apr 6)
Sold Listings: 2 (Apr 6)
Months of Inventory: 25.50 (Apr 8.00)

Homes priced from $600,001 to $650,000
Active Listings: 25 (Apr 24)
New Listings: 2 (Apr 7)
Sold Listings: 2 (Apr 3)
Months of Inventory: 12.50 (Apr 8.00)

Homes priced from $650,001 to $700,000
Active Listings: 28 (Apr 24)
New Listings: 5 (Apr 5)
Sold Listings: 1 (Apr 0)
Months of Inventory: 28.00 No Sales in Apr

Homes priced from $700,001 to $750,000
Active Listings: 14 (Apr 13)
New Listings: 3 (Apr 0)
Sold Listings: 0 (Apr 1)
Months of Inventory: No Sales in May (Apr 13.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 58 (Apr 48)
New Listings: 9 (Apr 5)
Sold Listings: 2 (Apr 3)
Months of Inventory: 29.00 (Apr 16.00)

Homes priced from $1,000,001 and Up
Active Listings: 76 (Apr 67)
New Listings: 9 (Apr 9)
Sold Listings: 2 (Apr 0)
Months of Inventory: 38.00 (No Sales in April)

The following information is for building lots in the same general area as the housing data listed above.

All Building Lots in the Greater St. George and Hurricane Valley
Active Listings: 1,257 (Apr 1,170)
New Listings: 68 (Apr 121)
Sold Listings: 13 (Apr 21 )
Months of Inventory: 96.69 (Apr 55.71)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 558 (Apr 532)
New Listings: 22 (Apr 78)
Sold Listings: 10 (Apr 14)
Months of Inventory: 55.80 (Apr 38.00)

Building lots from $100,001 to $150,000
Active Listings: 347 (Apr 305)
New Listings: 20 (Apr 27)
Sold Listings: 0 (Apr 3)
Months of Inventory: No Sales in May (Apr 101.67)

Building lots from $150,001 to $200,000
Active Listings: 357 (Apr 333)
New Listings: 26 (Apr 16)
Sold Listings: 3 (Apr 4)
Months of Inventory: 119.00 (Apr 83.25)

Building lots from $200,001 and up
Active Listings: 232 (Apr 219)
New Listings: 13 (Apr 11)
Sold Listings: 1 (Apr 2)
Months of Inventory: 232.00 (Apr 109.50)

Short Sales:

Getting better, the banks are getting smarter, and realizing it may be a better alternative than foreclosure, however, do plan on some waiting time. Once again, if you can find an approved short sale, they may just be one of the better deals on the market.

Foreclosures:

I am actually working with a bank or two now, and they are a pain in the neck. That being said, they are going to sale, so I guess I cannot complain too much. Once again if you want the foreclosure list sent to you. www.southernutahforeclosure.com

Sign up, we will send them.

Lastly, thank you all. I can not do this without you! What can I do for you? Email me and let me know.