Listings Are Up
Listings are up in the St George area!
Recently we have seen a major up turn in the number of listings on our local MLS in the St George Real Estate market. In December the listings were below 240 in January they neared 700. One factor is the Parade of Homes. Many people trying to sell their homes are hoping to catch a little of the momentum from the influx of buyers that come to the parade. It is estimated that nearly 40,000 people migrate to St George each year to see the parade. Many of those who come are also trying to get out of the cold and smog of northern Utah. It is a great time to sell a home, but with the increase in listings it is also an even better time to buy a home in the St George Real Estate Market.
More Competition For Sellers
As with any type of commodity, more competition is a good thing. When there are a limited number of homes on the market, sellers can be a little more demanding. With an increase in listings in the St George Real Estate Market buyers now have a slight advantage. I would not say that it is a buyers market at this point, but the jump in new listings doesn’t hurt those trying to make a good deal on a home purchase. This increase also changes the way sellers may price their home. When things are more competitive sellers and their agents will have a tendency to price homes a little more conservatively. The easiest analogy to explain this is the a grocery store. When one store decides to reduce the cost of milk other stores are forced to follow or they will lose business. It is true that a home is not a business, but the principle is the same.
St George Real Estate Listings
Listing in the St George Real Estate market have close to doubled, which is not a bad thing. Our inventory was very low for the last few months, and most of last year. The increase is a welcome change to people interested in moving to the St George area. Not only is the selection of homes better, but the ability to negotiate is also better. Building permits are still on the increase and the future still looks good for real estate in the St George Real Estate Market. There is another factor that may be coming into play in our local St George Real Estate market. The number of real estate agents in the St George area have increased from around 600 up to about 900. This increase is also more than likely having an effect on the number of listings in the St George Real Estate market.
In My Opinion
I personally believe the most people who come to the area to look at the homes on Parade, are coming to do just that. Most people do not block out a week to see the parade of homes. Most people that come to look at the St George Real Estate area Parade of Homes will more than likely only spend a weekend or a few days. With 28 homes to see, there really isn’t much time left over to look at existing homes.