July 2020 absorption rate is only 1.93 compared to last year at 3.05. This means that our inventory of homes is quite low which indicates a strong seller’s market.  If nothing new came on the market, it would take less than two months to sell all the homes currently for sale. 

 

On average, homes are selling at 98.1% of their list price.  With our low inventory, this could be due to buyers being willing to pay more or listings being priced more accurately.

 

In July, homes sold after an average of 64 days on the market. However, many homes have multiple offers and are under contract within just a few days.  

 

The St George market is still as hot as ever, despite changes happening in the world right now.

 

With interest rates being extremely low, it is a great time to buy, sell, or invest in a home.

 

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All of this affects home values in the area, including yours. If you are curious about what your new home value is, click below for a FREE home evaluation.