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RSS FeedSt George Real Estate trends |
Sep. 28, 2008
Categorized in: St George Area Real Estate Statistics
I am going to give you the year-to-date statistics this month to give you an idea of where we are at in comparison with last year.
Last year at this time there were 1513 single family homes that had sold at an average sales price of $343,137, this year there have been 1173 sales of single family homes at an average sales price of $313,877, which represents a 22% decrease in the number of homes sold this year.
The most dramatic change in our market this year in comparison to last year is in new construction . Last year there were 43 sales of new homes and this year the number has dropped to just 7 new homes sold for an 83% decrease in the sale of new homes from last year at this time. While this isn’t great news for all of the businesses that depend on construction, it is great news for sellers who have been competing with new homes to sell their homes for the past several years.
Subdivided lots, which were selling like hot-cakes in 2005/06, have slowed down considerably this year. There was a 56% decrease in the number of lots sold this year over last year and the prices have dropped 25% overall.
