April 2014 Market Report
The April Market Report is out.
There were 649 new listings in Washington County which was a 19.3% increase compared with 544 new listings last year. The median price also increased by 12.9% over April 2013.
The number of days a house is on the market has increased to 80 days from 69 last year. The overall sales of 388 was down 2.3% over April 2013. There were 120 building permits issued in the St George real estate market in April.
All in all things are still moving in a positive direction. We have entered what some people may consider a “buyers market”. This happens when the inventory of homes is increasing, and sales are slowing down. In this type of market it is a great time to purchase a new home in the St George Real Estate market. Buyers can usually hold out for a little better deal. If a home seller needs to to sell their home, they may have to settle for a lower price than in the previous months. This is a great opportunity to purchase an investment property. It is also a great time to buy a home for people that have been waiting for things to improve in the St George real estate market. Interest rates are still historically low.