Washington County Housing Market Report -April 2018
Median Sales Prices increased 20.4% to $308,000. (March 2017 to March 2018)
Average Sales Prices increased 16.4% to $351,400. (March 2017 to March 2018)
Time on the market has went from 77 days to 66 days. (March 2017 to March 2018)
Inventory of homes for sales has dropped from 1188 to 1102. (March 2017 to March 2018)
Building Permits have increased from 154 to 217. (March 2017 to March 2018)
Washington County Utah Multifamily
Vacancy is less than 1% in at the end of the 4th Quarter 2017.
Average rents are $887 per month ($0.92 sq. ft):
1 Bedroom 1 Bath--$749 ($1.16 sq. ft)
2 Bedroom 1 Bath--$790 ($0.80 sq. ft.)
2 Bedroom 2 Bath--$939 ($0.92 sq. ft)
3 Bedroom 2 Bath--$1,200 ($0.93 sq. ft)
Washington County Utah Retail
Vacancy is 3.5% at the end of the 4th Quarter 2017.
CAP Rates are 6-7.5%
Washington County Utah Industrial
Vacancy is 2.0% at the end of the 4th Quarter 2017
CAP Rates are 6.5-7.5%
Washington County Utah Office
Vacancy is 3.7% at the end of the 4th Quarter 2017
CAP Rates are 6-7.5%
Recent published articles of interest
Spectrum newspaper article from April 21, 2018
Commercial Investment (March/April 2018 CCIM magazine) Article on Affordable Housing
https://www.ccim.com/cire-magazine/articles/2018/03/affordable-housing/
National Association of Realtors article from April 23, 2018 on housing inventory shortage