WASHINGTON COUNTY RESIDENTIAL HOME SALES REPORT FOR SEPTEMBER 2011
When we see the year over year comparisons for the month of September in Washington County Real Estate, we see good news and bad news, not unlike the "news".
On the UP side, there are fewer properties available for sale. Last year there were 684 more homes listed for sale than this year - a 23 % drop in properties for sale. Of those listings this year only 428 homes were added to the market, 92 fewer than September last year, making an 18% drop in new listings. There were also 37 more homes sold this year than last, an upward trend of +16%! These trends are good for the seller because they signal the eventuality that the law of supply and demand will catch up and prices will begin to increase, which will in turn increase overall home values.
On the other hand, the average sale price dropped by 11%, fueled by an overabundance of foreclosed properties and a dip in consumer confidence.
When we break down the factors, we find interesting variables. Of single-family homes average sale price, the greater St. George Area had a 14% decrease in September while Hurricane Valley experienced a 7% increase!
For a detailed report of the Market Trends in your Washington County neighborhood, Call Me! (Bonnie - 435-668-3855)
Year-Over-Year Comparison for the month of September - Residential
RESIDENTIAL LAST YEAR THIS YEAR %CHANGE
Total Active Listings 2,913 2,222 -24
New Listings 423 333 -19
Number Sold 231 262 +13
Average Sale Price $192,858 $172,924 -10
Median Sale Price $153,100 $148,950 -3
Good News: Number of properties sold has increased substantially while the inventory has decreased.
Not-So-Good-News: The average sale price has dropped by an average of 10%.
information source: Washington County MLS - UTAH
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