Status of the Southern Utah Real Estate Market for August

Welcome to the latest edition of the status of the market. I have to apologize, I was out of town at the first of the month taking care of some personal business and the month sort of ran away from me. As always, I would like to thank the following for making August a great month.

1. Jared VanStaveren (Sold Listing)
2. Dale Hanson (Purchase)
3. Evelyn Anderson (Sold Listing)
4. Monty Magleby (Sold Listing)
5. Jepthah and Christine Alt (Sold Listing)

Jared is an asset manger from a company that deals with Fannie Mae, I have had the pleasure of working with him on three different properties, Dale Hanson is the Father of Marie and Chip Ehlers, who are sphere of influence members she referred Dad to me. Evelyn Anderson was a referral out in Sun River from my new Sister-in-law, Margie Hare Sanderson, Monty is one of the principals at Black Rock, that had me help sell a couple and Jepthah and Chris Alt are past clients from about six years ago, that finally needed to sell their gorgeous Green Springs house. Thanks to all of you for your contribution to my business and family.

If anyone is looking for an incredible, golf course condo, Black Rock is the ticket right now. They are very aggressive in their pricing and still have several units that over-look the Sun Brook Golf Course on three different levels. If you want more information about that, call or email me, you will be very glad you did. The “economic stimulus” discounts are amazing, and I am not sure of a project of its type that holds a candle to the quality. Just check out my video tour on this blog posted on July 2. That unit is now sold, but it might give the flavor of what there is to offer. Prices are in the late $100’s to the late $200’s and perhaps on occasion early $300’s, depending on what you do with the finishes.

Total Market Activity on Homes in August
Active Listings: 1,545 (July 1,346)
New Listings: 308 (July 379)
Sold Listings: 187 (July 250)
Months of Inventory: 8.26 (July 5.38)

Homes priced up to $150,000
Active Listings: 323 (July 266)
New Listings: 67 (July 103)
Sold Listings: 59 (July 58)
Months of Inventory: 5.47 (July 4.59)

Homes priced from $150,001 to $200,000
Active Listings: 290 (July 263)
New Listings: 66 (July 72)
Sold Listings: 55 (July 66)
Months of Inventory: 5.09 (July 3.98)

Homes priced from $200,001 to $250,000
Active Listings: 263 (July 230)
New Listings: 57 (July 58)
Sold Listings: 24 (July 42)
Months of Inventory: 10.96 (July 5.48)

Homes priced from $250,001 to $300,000
Active Listings: 157 (July 139 )
New Listings: 31 (July 43)
Sold Listings: 22 (July 22)
Months of Inventory: 7.14 (July 6.32)

Homes priced from $300,001 to $350,000
Active Listings: 99 (July 89)
New Listings: 23 (July 23)
Sold Listings: 7 (July 18)
Months of Inventory: 14.14 (July 4.94)

Homes priced from $350,001 to $400,000
Active Listings: 85 (July 66)
New Listings: 19 (July 28)
Sold Listings: 8 (July 17)
Months of Inventory: 10.62 (July 3.88)

Homes priced from $400,001 to $450,000
Active Listings: 41 (July 34 )
New Listings: 10 (July 10)
Sold Listings: 2 (July 5)
Months of Inventory: 20.50 (July 6.80)

Homes priced from $450,001 to $500,000
Active Listings: 54 (July 45)
New Listings: 5 (July 9)
Sold Listings: 2 (July 7)
Months of Inventory: 27.00 (July 6.43)

Homes priced from $500,001 to $550,000
Active Listings: 28 (July 21)
New Listings: 7 (July 6)
Sold Listings: 0 (July 3)
Months of Inventory: No Sales in August (July 7.00)

Homes priced from $550,001 to $600,000
Active Listings: 42 (July 41)
New Listings: 4 (July 7)
Sold Listings: 2 (July 5)
Months of Inventory: 21.00 (July 8.20)

Homes priced from $600,001 to $650,000
Active Listings: 21 (July 19)
New Listings: 5 (July 3)
Sold Listings: 1 (July 1)
Months of Inventory: 21.00 (July 19.00)

Homes priced from $650,001 to $700,000
Active Listings: 29 (July 28)
New Listings: 1 (July 5)
Sold Listings: 1 (July 2)
Months of Inventory: 29.00 (July 14.00)

Homes priced from $700,001 to $750,000
Active Listings: 2 (July 1)
New Listings: 2 (July 1)
Sold Listings: 0 (July 1)
Months of Inventory: No Sales in August (July 8.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 48 (July 44)
New Listings: 8 (July 7)
Sold Listings: 2 (July 3)
Months of Inventory: 24.00 (14.67)

Homes priced from $1,000,001 and Up
Active Listings: 63 (July 60)
New Listings: 5 (July 4)
Sold Listings: 0 (July 1)
Months of Inventory: No Sales in August (July 60.00)

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: 1,063 (July 1,099)
New Listings: 85 (July 100)
Sold Listings: 20 (July 15)
Months of Inventory: 53.15 (July 66.60)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 77 (July 60)
New Listings: 28 (July 6)
Sold Listings: 6 (July 6)
Months of Inventory: 12.83 (July 10.00)

Building lots $50,001 to $100,000
Active Listings: 401 (July 384)
New Listings: 22 (July 29)
Sold Listings: 7 (July 6)
Months of Inventory: 57.29 (July 64.00)

Building lots from $100,001 to $150,000
Active Listings: 268 (July 251)
New Listings: 15 (July 17)
Sold Listings: 2 (July 1)
Months of Inventory: 134.00 (July 251.00)

Building lots from $150,001 to $200,000
Active Listings: 133 (July 128)
New Listings: 10 (July 15)
Sold Listings: 2 (July 0)
Months of Inventory: 66.50 (No sales in July)

Building lots from $200,001 and up
Active Listings: 264 (July 256)
New Listings: 12 (July 35)
Sold Listings: 4 (July 2)
Months of Inventory: 66.00 (July 128.00)

Foreclosures:
My opinion is still the same…10-15% of them are great deals. 60% are pretty good, and if you are willing to put in a little elbow grease you are in great shape. The rest, just aren’t any good. By the time you bring them up to speed, you could have bought a house in good shape minus the labor.

Short Sales:
My opinion ebbs and flows on this issue. There are months when the banks seem to want to talk and others where they just don’t. This month I am pretty ambivalent, though I do have a couple I am working hard to get done right now.

Thanks to you all for everything. If there is ever anything I can do, I want to hear about it. Send me a quick email. Lastly Know Do You Know, that needs to buy or sale a home. I hope you have me in mind when you think of them.
Listings

The Who Do You Know? Home Tour, Makes a Stop!

Hello Everyone:

Here is the second of the Who Do You Know? Home Tour. This is a very nice upper scale family home right in the Mecca for families...Shadow Mountain. the nuts and bolts are as follows: 5 Beds 3 Baths, den, two kitchens, out door barbeque and water feature, ample storage, huge game room in lower level, 4360 Square feet, priced at $429,900. So check out the video, and ask yourself...Who do you know that needs to make this home theirs?

Send me an email if you thought of the right "Who".