Inventory is up and we've been told that nearly 40% of all properties on the market in southern Utah are some sort of distress sale. I don't know if this is entirely true, but there are many factors at work here. Of those 40% it could be made up of foreclosures, short sales, or those in pre-foreclosure (more than 30 days late).
St. George went through a huge real estate boom from late 2004 through 2007 or so. Then in late 2007 we started to see higher inventory of high dollar homes - those with a price of $750,000 or above. When looking at the statistics - you have to be careful - the St. George Utah homes for sale will show an average days on market. When you look at this you have to realize that it could have been on the market with a different broker, for sale by owner, etc. So when you see some of the stats - make sure to look closer and ask about the details on the source. Very few reliable sources track the entire history of the listing - really the only way to do this is by TaxID number.
We are currently in a buyer's market and now is a great time to invest. Our company does property management as well as sales - we can find a good ROI for you. Prices are finally in the range where you can get a good return and maybe even make the payment for you depending on the amount down.
Contact us at 435-632-5491 to discuss the options in the southern Utah real estate market today!
