Welcome to another exciting addition of the Southern Utah Real Estate Market. If you did not get a chance to check out my last post and the first “Who Do You Know” home tour, please check it out. I would like to get your feedback. I would like to personally thank my friend Brandon Ellett for his camera skills and his sense of humor, because as awkward as I look on camera, you should have seen the outtakes. My goodness, it is amazing I allowed it to happen. After you view the one from my last post if you have not already, will you please tell me what you think? By the way, if you need any videography or photography Brandon and his wife Malea do an excellent job. Brandon is very proficient in web, blog and other design. Just ask if you need his help, he can probably do it, here is the link to his site. Malea’s site is to the side below, Tickled Pink Photography
Thanks to the following for helping me keep the kids fed during the month of June:
1. Darryl and Joanne Layne (Purchase new home)
2. Boyer Green Valley LC (Sale of lot)
3. David and Meagan Lee (Purchase first time home)
4. Neville Structures (Dan and Janna Neville) (Sale of home)
Now for our market…There has been some serious movement lately, and the good deals are going fast. For example, I had a client bid $50k over the asking price on an under priced home in Entrada for a home in the $700k range and we got trumped by three other cash offers. Translation, if it is a great deal, on a foreclosure, you may have to pay well over price to get in some rare cases. Just because something is bank owned, does not always mean they are looking to dump it, nor does it mean that they are willing to negotiate a whole lot. In fact, in most cases, banks are not willing to negotiate much at all during at least the first thirty days.
Now for your market update…
Total Market Activity on Homes in June
Active Listings: 1,616 (May 1,440)
New Listings: 330 (May 263)
Sold Listings: 209 (May 214)
Months of Inventory: 7.73 (May 6.73)
Homes priced up to $150,000
Active Listings: 274 (May 232)
New Listings: 75 (May 46)
Sold Listings: 37 (May 44)
Months of Inventory: 7.41 (May 5.27)
Homes priced from $150,001 to $200,000
Active Listings: 304 (May 257)
New Listings: 84 (May 62)
Sold Listings: 56 (May 53)
Months of Inventory: 5.43 (May 4.85)
Homes priced from $200,001 to $250,000
Active Listings: 248 (May 220)
New Listings: 56 (May 41)
Sold Listings: 41 (May 38)
Months of Inventory: 6.05 (May 5.79)
Homes priced from $250,001 to $300,000
Active Listings: 201 (May 186 )
New Listings: 30 (May 31)
Sold Listings: 26 (May 24)
Months of Inventory: 7.73 (May 7.75)
Homes priced from $300,001 to $350,000
Active Listings: 115 (May 106)
New Listings: 19 (May 21)
Sold Listings: 12 (May 19)
Months of Inventory: 9.58 (May 5.58)
Homes priced from $350,001 to $400,000
Active Listings: 95 (May 89)
New Listings: 14 (May 15)
Sold Listings: 14 (May 13)
Months of Inventory: 6.79 (May 6.85)
Homes priced from $400,001 to $450,000
Active Listings: 56 (May 52 )
New Listings: 6 (May 9)
Sold Listings: 5 (May 6)
Months of Inventory: 11.20 (May 8.67)
Homes priced from $450,001 to $500,000
Active Listings: 55 (May 53)
New Listings: 6 (May 3)
Sold Listings: 2 (May 4)
Months of Inventory: 27.50 (May 13.25)
Homes priced from $500,001 to $550,000
Active Listings: 33 (May 31)
New Listings: 4 (May 3)
Sold Listings: 2 (May 3)
Months of Inventory: 16.50 (May 10.33)
Homes priced from $550,001 to $600,000
Active Listings: 43 (May 43)
New Listings: 7 (May 3)
Sold Listings: 3 (May 2)
Months of Inventory: 14.33 (May 21.50)
Homes priced from $600,001 to $650,000
Active Listings: 22 (May 18)
New Listings: 8 (May 2)
Sold Listings: 1 (May 2)
Months of Inventory: 22.00 (May 9.00)
Homes priced from $650,001 to $700,000
Active Listings: 29 (May 25)
New Listings: 5 (May 6)
Sold Listings: 1 (May 1)
Months of Inventory: 29.50 May 25.00)
Homes priced from $700,001 to $750,000
Active Listings: 12 (May 11)
New Listings: 0 (May 3)
Sold Listings: 1 (May 0)
Months of Inventory: 12.00 (No Sales in May)
Homes priced from $750,001 to $1,000,000
Active Listings: 53 (May 51)
New Listings: 5 (May 9)
Sold Listings: 4 (May 2)
Months of Inventory: 13.25 (May 25.50)
Homes priced from $1,000,001 and Up
Active Listings: 75 (May 65)
New Listings: 11 (May 9)
Sold Listings: 4 (May 3)
Months of Inventory: 18.75 (May 21.67)
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: 1,182 (May 1,146)
New Listings: 46 (May 71)
Sold Listings: 19 (May 15)
Months of Inventory: 62.21 (May 76.40)
Here are the data ranges:
Building lots up to $50,000
Active Listings: 83 (May 76)
New Listings: 9 (May 14)
Sold Listings: 10 (May 2)
Months of Inventory: 8.30 (May 38.00)
Building lots $50,001 to $100,000
Active Listings: 432 (May 427)
New Listings: 17 (May 8)
Sold Listings: 5 (May 10)
Months of Inventory: 86.40 (May 42.70)
Building lots from $100,001 to $150,000
Active Listings: 333 (May 326)
New Listings: 3 (May 21)
Sold Listings: 1 (May 0)
Months of Inventory: 333.00 (May 96)
Building lots from $150,001 to $200,000
Active Listings: 132 (May 124)
New Listings: 9 (May 14)
Sold Listings: 2 (May 2)
Months of Inventory: 66.00 (May 62.00)
Building lots from $200,001 and up
Active Listings: 202 (May 193)
New Listings: 8 (May 14)
Sold Listings: 1 (May 1)
Months of Inventory: 202.00 (Apr 193.00)
Short Sales
Right now it seems they can go either way. Many companies are starting to offer work out packages, and in some cases the bail out money that we have assigned to our children and their children is getting into the hands of the consumer. Well not really, they just get their mortgage adjusted, in terms of amount and rate, and are allowed to stay. This obviously affects the purchasing power of the buyer, but in the end, leaving out the whole conversation of the bailout, affords some of the folks with negative equity a fresh start. Some work out fine, others don’t. Same game, different day.
Foreclosures
The 10% that are well priced go quickly, and sometimes for extra cash. Then there are the vast 70% that are good deals that come and go within reason, and lastly the 20% that just don’t make sense.
Thanks for all you do for me. I am only a mouse click or phone call away…
Thanks to the following for helping me keep the kids fed during the month of June:
1. Darryl and Joanne Layne (Purchase new home)
2. Boyer Green Valley LC (Sale of lot)
3. David and Meagan Lee (Purchase first time home)
4. Neville Structures (Dan and Janna Neville) (Sale of home)
Now for our market…There has been some serious movement lately, and the good deals are going fast. For example, I had a client bid $50k over the asking price on an under priced home in Entrada for a home in the $700k range and we got trumped by three other cash offers. Translation, if it is a great deal, on a foreclosure, you may have to pay well over price to get in some rare cases. Just because something is bank owned, does not always mean they are looking to dump it, nor does it mean that they are willing to negotiate a whole lot. In fact, in most cases, banks are not willing to negotiate much at all during at least the first thirty days.
Now for your market update…
Total Market Activity on Homes in June
Active Listings: 1,616 (May 1,440)
New Listings: 330 (May 263)
Sold Listings: 209 (May 214)
Months of Inventory: 7.73 (May 6.73)
Homes priced up to $150,000
Active Listings: 274 (May 232)
New Listings: 75 (May 46)
Sold Listings: 37 (May 44)
Months of Inventory: 7.41 (May 5.27)
Homes priced from $150,001 to $200,000
Active Listings: 304 (May 257)
New Listings: 84 (May 62)
Sold Listings: 56 (May 53)
Months of Inventory: 5.43 (May 4.85)
Homes priced from $200,001 to $250,000
Active Listings: 248 (May 220)
New Listings: 56 (May 41)
Sold Listings: 41 (May 38)
Months of Inventory: 6.05 (May 5.79)
Homes priced from $250,001 to $300,000
Active Listings: 201 (May 186 )
New Listings: 30 (May 31)
Sold Listings: 26 (May 24)
Months of Inventory: 7.73 (May 7.75)
Homes priced from $300,001 to $350,000
Active Listings: 115 (May 106)
New Listings: 19 (May 21)
Sold Listings: 12 (May 19)
Months of Inventory: 9.58 (May 5.58)
Homes priced from $350,001 to $400,000
Active Listings: 95 (May 89)
New Listings: 14 (May 15)
Sold Listings: 14 (May 13)
Months of Inventory: 6.79 (May 6.85)
Homes priced from $400,001 to $450,000
Active Listings: 56 (May 52 )
New Listings: 6 (May 9)
Sold Listings: 5 (May 6)
Months of Inventory: 11.20 (May 8.67)
Homes priced from $450,001 to $500,000
Active Listings: 55 (May 53)
New Listings: 6 (May 3)
Sold Listings: 2 (May 4)
Months of Inventory: 27.50 (May 13.25)
Homes priced from $500,001 to $550,000
Active Listings: 33 (May 31)
New Listings: 4 (May 3)
Sold Listings: 2 (May 3)
Months of Inventory: 16.50 (May 10.33)
Homes priced from $550,001 to $600,000
Active Listings: 43 (May 43)
New Listings: 7 (May 3)
Sold Listings: 3 (May 2)
Months of Inventory: 14.33 (May 21.50)
Homes priced from $600,001 to $650,000
Active Listings: 22 (May 18)
New Listings: 8 (May 2)
Sold Listings: 1 (May 2)
Months of Inventory: 22.00 (May 9.00)
Homes priced from $650,001 to $700,000
Active Listings: 29 (May 25)
New Listings: 5 (May 6)
Sold Listings: 1 (May 1)
Months of Inventory: 29.50 May 25.00)
Homes priced from $700,001 to $750,000
Active Listings: 12 (May 11)
New Listings: 0 (May 3)
Sold Listings: 1 (May 0)
Months of Inventory: 12.00 (No Sales in May)
Homes priced from $750,001 to $1,000,000
Active Listings: 53 (May 51)
New Listings: 5 (May 9)
Sold Listings: 4 (May 2)
Months of Inventory: 13.25 (May 25.50)
Homes priced from $1,000,001 and Up
Active Listings: 75 (May 65)
New Listings: 11 (May 9)
Sold Listings: 4 (May 3)
Months of Inventory: 18.75 (May 21.67)
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: 1,182 (May 1,146)
New Listings: 46 (May 71)
Sold Listings: 19 (May 15)
Months of Inventory: 62.21 (May 76.40)
Here are the data ranges:
Building lots up to $50,000
Active Listings: 83 (May 76)
New Listings: 9 (May 14)
Sold Listings: 10 (May 2)
Months of Inventory: 8.30 (May 38.00)
Building lots $50,001 to $100,000
Active Listings: 432 (May 427)
New Listings: 17 (May 8)
Sold Listings: 5 (May 10)
Months of Inventory: 86.40 (May 42.70)
Building lots from $100,001 to $150,000
Active Listings: 333 (May 326)
New Listings: 3 (May 21)
Sold Listings: 1 (May 0)
Months of Inventory: 333.00 (May 96)
Building lots from $150,001 to $200,000
Active Listings: 132 (May 124)
New Listings: 9 (May 14)
Sold Listings: 2 (May 2)
Months of Inventory: 66.00 (May 62.00)
Building lots from $200,001 and up
Active Listings: 202 (May 193)
New Listings: 8 (May 14)
Sold Listings: 1 (May 1)
Months of Inventory: 202.00 (Apr 193.00)
Short Sales
Right now it seems they can go either way. Many companies are starting to offer work out packages, and in some cases the bail out money that we have assigned to our children and their children is getting into the hands of the consumer. Well not really, they just get their mortgage adjusted, in terms of amount and rate, and are allowed to stay. This obviously affects the purchasing power of the buyer, but in the end, leaving out the whole conversation of the bailout, affords some of the folks with negative equity a fresh start. Some work out fine, others don’t. Same game, different day.
Foreclosures
The 10% that are well priced go quickly, and sometimes for extra cash. Then there are the vast 70% that are good deals that come and go within reason, and lastly the 20% that just don’t make sense.
Thanks for all you do for me. I am only a mouse click or phone call away…
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