What's Happening in the St. George Real Estate Martket?

Market Status as of March 21, 2012
Current Homes on MLS: 1656
Current Homes in Greater St. George or Hurricane Valley: 1350
Of the 1350 homes available in our area:

• 1045 or 77% are listed as "equity sales"


• 249 or 19% are "short sales"


• 56 or 4% are "foreclosure or bank owned"

Though 1045 are listed as "equity sellers" the opinion is that only half of them or about 523 will actually sell. The rest are over-priced, undesirable, or would have to be a "short sale" to sale.

Of the 249
"short sales" 166 are "under review" which means they have an offer that the bank is considering, and hence are unavailable to the market.

Most likely all 56 "foreclosure or bank owned" will all sell.

...If you take the 523 "equity sellers" 83 remaining available "short sales" and 56 "foreclosure or bank owned" there are 662 homes available. According to our Washington Board of Realtors stats, 215 closed in February so that gives us approximately a 3.08 supply of homes.

That makes us a SELLER'S MARKET DISGUISED AS A BUYER'S MARKET.

Two other quick facts:

• Homes priced $200k or under, excluding short sales only last 72.08 days on the market.


• According to reliable sources there are only 359 homes in this "shadow inventory."

So why work with Ken KEN-DO-IT?

1. I know our numbers and stay up on whats going on in our market place


2. I have been able to secure closings on "shadow inventory" in this market


3. I have the KEN-DO-IT philosophy...

Thanks, Ken Wilson of "KEN-DO-IT" (435) 467-4447

VISTA REAL ESTATE

321 North Mall Drive --- St. George, UT 84790

I would like to thank Joe Langston who provided the research analysis for this fact sheet.