St. George, Utah's Ancient Red Rocks Views Attract New Homebuyers
by Blanche Evans
Gorgeous red rock views and an outdoor lifestyle may have a lot to do with it, but according to local Realtors, new homes in St.George, Utah are being purchased as soon as they are built. Explains Realtor Penny L. Weston, "The hub of southern Utah is St. George. Built on a heritage of hardy pioneers, St. George has become a thriving community with countless business and recreational opportunities. St. George is a popular resort and retirement community. St. George, also called 'Dixie,' is located at the extreme southwestern corner of Utah. It is nestled against impressive sandstone cliffs. Added to its charm is breathtaking blue skies that make it a picturesque valley. St. George has a comfortable climate that makes it an ideal attraction destination." "St. George has been named as the fastest growing 'micropolitan' city in the country," says Realtor Paul Herbert. "It has over a dozen golf courses in the surrounding area and averages well over 300 days of sunshine and crystal clear blue skies. It is not only a tremendous retirement community, being consistently ranked in the top 10, but is a great family and recreational area." Herbert suggests, "You can bike, run or just walk along the many paved jogging paths located throughout St. George. Several national parks including Zions and Bryce Canyon are located nearby in which you can hike and enjoy the outdoors. Water activities such as boating, skiing and fishing can be found within minutes of St. George. Las Vegas is located 80 minutes away. Something for everyone can be found in St. George and for the quality of life and the climate, St. George can't be beat." About the market, Herbert advises, "The St. George area is experiencing a dichotomy of activity. New home construction is selling about as fast as it can be built, with most homes being presold or sold prior to completion. Older homes, generally pre-1990, are sitting on the market until they are bargain-priced. The only exceptions would be homes under $130k as they are limited and are being bought quickly by investors or first-time home buyers. For the year 2003 vs. 2002, single-family home sales volume increased by 40 percent with the average sales price of a single-family home increasing 10.3 percent. For condos/townhomes, total sales volume increased 35.7 percent with the average price increasing 9.8 percent. Total lot sales volume increased a whopping 90.8 percent with the average lot price increasing 45.1 percent. The market experienced brisk investor activity in 2003 as St. George area real estate prices are very reasonable and interest rates remained low. Also, investors are seeking an alternative to the stock market and low bank savings rates." |
