Here in Washington County, it's interesting to compare what the market is doing now vs. what it was doing in March of 2018.
The key points I'd like to share:
- Inventory is up at an increase of 22.1%, with a decrease of 2.4% in new listings.
- Building permits have decreased by 16.6%. In March of 2018, there were 217, while 2019 came to 176.
- Homes are staying on the market longer, rising by 4.5%.
- The median sales price is $309,000, a mild increase of 0.3%.
- There were 12.8% fewer closed sales March of this year in comparison with last.
The larger selection of inventory available - many of which have been on the market longer than they would have been last year - is great news for buyers. It's a perfect time to purchase a piece of land in Southern Utah! Call Paul Herbert today to discuss your dream home, or use the Dream Home Finder form online to get started.
The source of the data for this report is the MLS, Local Association of Realtors and Construction Monitor