What happened in the Southern Utah Real Estate Market in November 2009

Thanks once again to all who have made this a great month. First of all I would like to personally thank all you had a hand in my livelihood this month by closing escrow on some real estate. The following were extremely helpful in the month of November:

1. Dale Gunther (Sold Listing)
2. Jeff Hemming (Sold Listing)
3. Chad and Jill Eckley (Purchase)

Dale is actually a VP of a bank up North and he was referred to me by his son in law Brett Christiansen, Jeff Hemming was referred by his Uncle from Logandale, NV, and Chad and Jill were referred to me by Bill and Amber Overson. Thanks to all of you very much.

One of the ways that I am trying to keep ahead of the curve is by trying to be a little more social on FaceBook. Believe me it is tough, because like all of you I am just a bit busy. I do however see value in it, and I am currently video recording all of my listings with a flip cam and putting them on Facebook for all to see. So if you want to become a friend or check the videos out, it is under Joe Langston on FaceBook. I realize my voice sounds funny, I guess none of us really like our voice on camera, but it does get you inside, and that is what really counts.

This is what the market did last month, looks like we dropped off pretty good from October. I know it was a difference for me…

Total Market Activity on Homes in November
Active Listings: 1,718 (Oct 1,485)
New Listings: 324 (Oct 315)
Sold Listings: 184 (Oct 219)
Months of Inventory: 9.34 (6.78)

Homes priced up to $150,000
Active Listings: 404 (Oct 337)
New Listings: 91 (Oct 80)
Sold Listings: 41 (Oct 69)
Months of Inventory: 9.85 (Oct 4.88)

Homes priced from $150,001 to $200,000
Active Listings: 362 (Oct 315)
New Listings: 73 (Oct 61)
Sold Listings: 51 (Oct 53)
Months of Inventory: 7.10 (Oct 5.94)

Homes priced from $200,001 to $250,000
Active Listings: 242 (Oct 211)
New Listings: 51 (Oct 48)
Sold Listings: 33 (Oct 37)
Months of Inventory: 7.33 (Oct 5.70)

Homes priced from $250,001 to $300,000
Active Listings: 184 (Oct 154 )
New Listings: 36 (Oct 38)
Sold Listings: 24 (Oct 21)
Months of Inventory: 7.67 (Oct 7.33)

Homes priced from $300,001 to $350,000
Active Listings: 111 (Oct 92)
New Listings: 18 (Oct 24)
Sold Listings: 12 (Oct 13)
Months of Inventory: 9.25 (Oct 7.08)

Homes priced from $350,001 to $400,000
Active Listings: 95 (Oct 81)
New Listings: 15 (Oct 17)
Sold Listings: 7 (Oct 7)
Months of Inventory: 13.57 (Oct 11.57)

Homes priced from $400,001 to $450,000
Active Listings: 50 (Oct 46 )
New Listings: 5 (Oct 13)
Sold Listings: 3 (Oct 5)
Months of Inventory: 16.67 (Oct 9.20)

Homes priced from $450,001 to $500,000
Active Listings: 45 (Oct 43)
New Listings: 6 (Oct 8)
Sold Listings: 6 (Oct 3)
Months of Inventory: 7.50 (Oct 14.33)

Homes priced from $500,001 to $550,000
Active Listings: 33 (Oct 28)
New Listings: 6 (Oct 5)
Sold Listings: 3 (Oct 0)
Months of Inventory: 11.00 (No Sales in Oct)

Homes priced from $550,001 to $600,000
Active Listings: 38 (Oct 36)
New Listings: 4 (Oct 5)
Sold Listings: 1 (Oct 1)
Months of Inventory: 38.00 (Oct 36.00)

Homes priced from $600,001 to $650,000
Active Listings: 26 (Oct 24)
New Listings: 5 (Oct 3)
Sold Listings: 1 (Oct 2)
Months of Inventory: 26.00 (Oct 12.00)

Homes priced from $650,001 to $700,000
Active Listings: 22 (Oct 20)
New Listings: 4 (Oct 1)
Sold Listings: 0 (Oct 2)
Months of Inventory: No Sales in November (Oct 10.00)

Homes priced from $700,001 to $750,000
Active Listings: 7 (Oct 6)
New Listings: 0 (Oct 1)
Sold Listings: 1 (Oct 0)
Months of Inventory: 7.00 (No Sales in Oct)

Homes priced from $750,001 to $1,000,000
Active Listings: 45 (ct 42)
New Listings: 6 (Oct 3)
Sold Listings: 1 (Oct 4)
Months of Inventory: 45.00 (Oct 10.50)

Homes priced from $1,000,001 and Up
Active Listings: 55 (Oct 51)
New Listings: 4 (Oct 8)
Sold Listings: 1 (Oct 2)
Months of Inventory: 55.00 (Oct 25.50)

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: 1,058 (Oct 991)
New Listings: 73 (Oct 151
Sold Listings: 34 (Oct 15 )
Months of Inventory: 31.12 (Oct 66.07)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 118 (Oct 105)
New Listings: 15 (Oct 33)
Sold Listings: 20 (Oct 6)
Months of Inventory: 5.90 (Oct 17.50)

Building lots $50,001 to $100,000
Active Listings: 523 (Oct 503)
New Listings: 28 (Oct 61)
Sold Listings: 8 (Oct 7)
Months of Inventory: 65.38 (Oct 71.86)

Building lots from $100,001 to $150,000
Active Listings: 232 (Oct 218)
New Listings: 8 (Oct 43)
Sold Listings: 2 (Oct 0)
Months of Inventory: 116.00 (No Sales in Oct)

Building lots from $150,001 to $200,000
Active Listings: 119 (Oct 116)
New Listings: 2 (Oct 7)
Sold Listings: 2 (Oct 1
Months of Inventory: 59.50 (Oct 116.00)

Building lots from $200,001 and up
Active Listings: 172 (Oct 148 )
New Listings: 24 (Oct 14)
Sold Listings: 4 (Oct 1)
Months of Inventory: 43 (Oct 148)

I usually write a little report about short sales and foreclosures, but not much has changed. Shorts still take a while, and if you are lucky enough to find one that has already been approved and the buyer has bailed on it, good for you, that is a great one to chase down. If not, plan on a bit of a wait.

Foreclosures, I feel the same about. I have listed 10 this year, and out of them 2 have been great deals, 6 have been good deals and the other two, well, let’s just say I still have them listed. The bank might fire me before I get them to go away.

Let me know what I can do to help you. Send me an email.