Are you interested in the Washington County UT Housing Market? If so, you’re not alone! A lot of homeowners are anxiously watching to see if home prices have peaked or if they will continue to climb. Buyers are hoping there will be more inventory and fewer bidding wars making it easier for them to purchase a home. In fact, an article in Realtor Magazine noted that this fall might provide a big opportunity for buyers. In September real estate brokerage Redfin reported bidding wars reached their lowest level this year.
Below is the Washington County UT Housing Market Update for September 2021. We’ll also take a look and compare the housing market in August 2021 versus September 2021.
Here’s three years at a glance from September 2019 to September 2021-
Inventory of homes available has declined 55.46% from 2 years ago. There were 697 fewer homes listed for sale on the Washington County MLS in September 2021 than in September 2019. Interestingly, sales for 2019 and 2021 were about the same. Compare 2020 to 2021 and there were 206 fewer homes sold than last year!
Median sold price has continued to increase significantly over the past 3 years. If you look at at the chart you’ll see that the median sold price increased a whopping 25% from 2020 to 2021. Median sold price in September 2020 was $360,000 and in 2021 it rose to $450,000.
Average days on the market dropped from 63 in September 2020 to 21 in September 2021. Our absorption rate was 1.64 for September 2021. In a perfect real estate world, a healthy absorption rate is usually about 3.0.
Let’s compare August 2021 to September 2021 to get a better idea of what’s happening month to month for 2021.
Active listings increased in September 2021 up from 731 in August to 868 for the month of September. That means there were 18.74% more homes on the market for buyers to choose from in September. This is good news for buyers that have not been able to get a home under contract.
Average days on the market increased slightly in September 2021 to 21.
Median sold price still increased from August 2021 to September 2021 by 2.27%. Median sold price in August was $440,000 and it rose to $450,000 in September.
If you’d like more information on selling or purchasing a home in Saint George and surrounding areas please contact me anytime.