Market Conditions in St. George, Utah
St. George, Utah - New home construction has been bolstered by a strong demand for housing. Record low interest rates have coincided with the “discovery" of St. George as a desirable destination. For many, the move to St. George is an escape from the high density urban areas and their associated problems. Others arrive to escape the cold weather of the North.   This high demand has had an upward pressure on the housing pricing. So far in 2004 transactions have closed between 100% and 103% of the asking price. This of course includes requested upgrades. Three and four bedroom homes have averaged only 51 and 41 days on the market respectively. The current median list price of new homes is approximately 8 to 12% higher than was seen in the first half of this year. Shoppers have many choices of home sites with most of the inventory owned by builders. The large number of good quality builders, however, does ensure competitive interest in the buyers. Subdivisions continue to be developed as the demand remains strong. The St. George area remains a good buy. Bargains can still be found, particularly in the adjacent communities. - Reported by Phil Bradbury at newhomesofamerica.com. Find a home in St. George Read more about St. George living