April 2015 Market Report
The April 2015 Market Report is out. Listings were down just over 7% compared to last year. Closings or homes sold were up 5.6%. These two statistics indicate that inventory is shrinking. This will create an increase in prices, due to supply and demand. When there are fewer houses to choose from the prices on existing home go up. The change of inventory figure backs this up with, with a decrease of 16.8% inventory of houses to sell compared with last year. Median prices were down 2.3% over last year. The rolling average is a little less drastic than the statistics appear on the month by month redline at the bottom of the graph.
Houses in the St George Real Estate Market that are priced right, continue to sell quickly. Most of my listings in the last 6 months have sold very quickly one in 1 day and another in 3 days.
