Is St. George in a BUYER, or SELLER’s market?

Want to see which St. George area homes are currently for sale? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You can always call us at (435) 215-4533 for a FREE home buying or selling consultation to answer any of your real estate questions.​

Is St. George in a BUYER, or SELLER’s market?

As we approach the end of the summer, the weather continues to be hot, but what did you expect?! To distract you from the heat, here’s a brief but POWERFUL update on what's going on with St. George real estate. The first thing we want to talk about is sales data and how that determines whether we are in a BUYER, SELLER, or NUETRAL real estate market.

Some fun facts:

Since Jan. 1, 2014, our MLS records indicate that Washington County has seen approximately 263 sales per month which equates to about 1800 home sales through July.

BUT WAIT!.....THERE’S MORE! (cue the infomercial music….)

With every sale, there are actually TWO parties – both a Buyer and Seller, so every single St. George real estate transaction is actually TWO transactions! Following that theory, there have been more like 3600 families/Investors/businesses buy or sell Washington County Real Estate in Washington County this year!

BUT WAIT….THERE’S EVEN MORE!!!!

When you multiply those figures by the average sales price of $252,000 in Washington County, you can see that A LOT of money is moving around this real estate market.

What you need to know:

·         The average # of days to sell a home to date 2014: 110 days, or just under 4 months (depending on your area and the Agent you’re working with)

·         Overall, most folks are selling their homes for 95-99% of their full asking price (again, depending on area and your Agent) for their home – that ain’t bad!

·         There is approximately 6.1 months of housing inventory available in Washington County.  

So is this a BUYER, SELLER or NEUTRAL market?

St. George is currently in a healthy, neutral market, based on this rule of thumb:

·         1-3 months inventory: Seller’s market

·         4-6 months inventory: Neutral market

·         7+ mos inventory: Buyer’s market

Not a lot of movement up or down in St. George home values. And that is OK as it will ultimately benefit buyers and sellers as the market stabilizes.

Remember this is still specific to YOUR NEIGHBORHOOD!

If you would like to take a look at all of the data I’ve shared and more, feel free to visit our website, www.SoldinStGeorge.com and click on the "our market" link for all of the latest statistics. If you’re a real estate numbers “nerd”, you’ll be glad you did!

We have so much more information for you to see. For right now, we have got a healthy, neutral market and in coming videos, we will let you know what to expect in terms of rumor of the real estate market crashing again – STAY TUNED.

Our contact info as always, (435) 215-4333 or email us:larkingroup@gostgeorge.com. 

What are St. George Homes Worth per Square Foot?

There are many great St. George area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (435) 215-4533 for a FREE home buying or selling consultation to answer any of your real estate questions.

What are St. George Homes Worth per Square Foot?

Today we are going to answer a question and discuss an issue that always comes up…and we DO mean ALWAYS! What is your house worth per square foot?

The challenge of this question is that it's the WRONG question It's like asking, “how much do cars cost?” Well…..there are questions you need to answer first, like: Which car? What year? What model? What upgrades? There are too many variables to just give you a short answer of "what cars cost."

The same thing happens with attempting to come up with blanket pricing per square foot on a home. When you are only analyzing a home in terms of its price per square foot, you might miss some of the details that a home has that makes it worth more or less per square foot. Age, location, view, # of levels, # of garage bays, pool?, etc, etc, etc. 

If you look at a list of St. George area homes that are all priced for $100 per square foot and find another home that's the same size but priced at $120 per square foot, you are going to wonder why it costs so much more. In all actuality, you may be getting a better deal on the SECOND property due to extra features in the home.

So, just how much variety exists in St. George home values in terms of pricing per square foot?

Well, since January 1st of this year, the lowest priced single-family home sale in terms of price per square foot, was $39, located in Hurricane City. On the other hand, an incredibly unique home in downtown Springdale was sold for a whopping $745 per SF!  How could a home sell for that much more, when they are both single family dwellings? 

Well, the home that was priced at $745 is located in Springdale on 20 acres right near Zion National Park. Essentially a one of a kind, impossible to replace, incredibly located property. You can't compare a small, rural home in Hurricane Valley to a landmark property in Springdale and ask why one is so much more expensive than the other. You have to look at much more than the price per square footage to determine the true value of a home.

Is there a time when price per SF can be used to determine your home’s value? 

Yes. If you live in a very standardized townhome community or even a single family home community with homes of very similar size, age, finishes, AND a consistent ownership demographic, price per SF can be anywhere from “fairly” to “incredibly” accurate. Just remember that subtle differences – often those you can’t see inside your neighbor’s home, can create massive differences in value. 

If you’re wondering about your own home’s value – whether it be to SELL it, or “just because”, please don’t be shy about reaching out to us by phone or e-mail so we can prepare a “Pin-Point Pricing Analysis” for you. If you’d prefer to just do the whole “free info” on the internet thing, check out our instant home value generator to see what your home might sell for in 51 seconds or less! www.DixieHomeValue.com 

Our contact info once again, (435) 215-4333 or email us: larkingroup@gostgeorge.com.