St George UT Real Estate Market Report for May 2013
Below is a graph tracking the St George Utah real estate market statistics through May 2013.
The real estate market is definitely picking up here in St George! Just for an example, I listed a darling little home in downtown St George priced at $120,000 last month and received an offer on it that same night! We had 4 showings the first day and many more calls to show it the following days. It is scheduled to close in 3 days for more than the listed price!
The inventory of homes for sale rose slightly and sales increase for the month of May. Sales are usually very strong in the spring due to the Parade of Homes and gorgeous weather we enjoy during those months.
According to the Washington County MLS there is 5.89 months worth of available inventory, which is the lowest it has been in over two years. There were also more homes sold in May 2013 than any other month in the last two years! In May, 2013, 374 homes sold in Washington County.
The number of foreclosures is decreasing as well as Notices of Default. Many sellers are receiving multiple offers if their homes are in good condition and priced competitively. Homes in Coral Canyon continue to be very popular and there is a good selection priced under $250,000.
SunRiver St George 55+ community also continues to show stronger numbers than other areas, due to higher demand from the 55+ active adult community buyers. There are currently 19 homes pending sale in SunRiver and 43 homes for sale.