October 2014 Market Report
The October Market was similar to previous months in 2014. The 6 month rolling average, (the grey line) is something that is easy to understand. This figure has continued to decline fairly consistently. It has been a gradual descent but a consistent descent non the less. The monthly figures are a little more dramatic, but the 6 month rolling average gives a more clear picture, (in my opinion). From September to October 14 in the St George Real Estate market, things jumped up over 10%. This is a recovery from the August to September drop of about the same amount.
There are pockets and price points that seem to be doing better than others. Houses priced under $150,000 that are fairly nice are selling very quickly. Homes that are priced under $200,000 in the St George Real Estate market are also moving very quickly. There was a slight drop in the median sales price, and over a 12% increase in inventory. Supply and demand are alive and well in the real estate industry. If there are more homes the competition among sellers creates price reductions.
