Welcome to this month’s St. George, Utah real estate market report, presented to you by The Jackie Ruden Realty Team.
The Jackie Ruden Real Estate Team brings their experience, professionalism, and knowledge to help you buy or sell a home. We offer many helpful articles that will inform and educate about the home buying or selling process.
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If you are a buyer, you can search our site for homes by price or location. Make sure to save your searches and sign up to be notified as soon as new properties become available. Give us a call and we can assist you in touring homes and work with you to submit the most competitive offer.
If you are a seller thinking of selling your home, make sure to use our free home valuation tool. This tool will give you an idea of your home’s worth, then give us a call and we can get your home listed at the most competitive price to net you the most money possible.
St. George Utah Housing Stats
The average sale price for homes in St George for October 2019 was $347,062, down slightly from the September 2019 average sale price of $354,029. Average sale prices for homes have increased by 5.7% from the October 2018 average of $328,349.
There were 599 new listings on the market for October 2019, increasing the available inventory for buyers. There were two price ranges that had the highest number of new listings; the $250-299,000 and the $500-749,000 price ranges both had a total of 87 new listings.
The $250-299,000 saw a decrease year to year in new listings, while the $500-749,000 had an increase of new listings compared to this time last year. The $200-249,000 price point had a total of 74 new listings, a decrease from October 2018. The $150-199,000 price range had the biggest decrease in new listings, 35 for October 2019 compared to 75 one year ago. Overall new listings decreased by 9.5% compared to October 2018.
During October 2019 a total of 456 listings were pending sale, this is up 4.1% from 438 at this time last year. The $250-299,000 price point had the highest number of pending sales with 86, up from 78 one year ago. The $200-249,000 price range had a total of 79 pending listings, up from 63 compared to October 2018, and the $300-349,000 had a total of 66 pending sales, up from 52 at this time last year. The $199,000 and less price ranges overall decreased from October 2018, a total of 59 listings under $199,000 were pending compared to 93 the previous October.
A total of 394 properties were sold during October 2019, down from 430 sold during October 2018. The $250-299,000 price range had the most sales activity with 63 listings sold, down from 65 sold during October 2018.
There were 56 listings sold in the $200-249,000 price range, also down from the previous October number of 62. The $199,000 price and lower bracket had a total of 65 listings sold, down from 85 twelve months ago.
The $300-349,000 price range had a decrease in sold listings, down 38.2% from 76 last October to 47 this month. The $400-449,000 price range had the highest increase of sold listings with 40 in October 2019, up from 26 during October 2018. The $450,000 and higher price ranges had a total of 75 listings sold, down only slightly from the October 2018 number of 72 listings sold.
The average number of days on the market for homes is approximately 53 days, a decrease from 65 days on the market during September 2019. The year to year average has held steady from 58 days during October 2018.
The average list to sold price ratio is 96.6%, down from 97.2% during September 2019. The average sold to list price ratio has remained in the 96.5-97.5% range for most of 2019.
There is approximately 3.7 months of inventory available on the market, more inventory has been added the last month, increasing the number of homes available from the September 2019 number of 3.5 months, and up from the August 2019 average of 3.4 months.
What Does This Mean For Buyers In St George Utah?
For those who are looking to purchase a home in St George can expect to see higher prices going into the winter season. However, in some price ranges, buyers can expect to have more choices of properties.
Buyers will want to take advantage of current lending rates and inventory before 2020. An election year can bring uncertainty and sellers may want to wait before listings their home until after the election. Buyers should have financing in place and be prepared to act when they find the perfect property.
What Does This Mean For Sellers In St George Utah?
Depending on the price range sellers can expect to see demand for their home. While overall inventory has increased, there are price points that have less inventory available. Sellers may see their property sit for a little longer on the market before being sold.
Sellers should take advantage of the opportunity now to list their homes before the election season of 2020 hits. While there has been an increase in the average sales price of homes, sellers should exercise patience when their home becomes listed on the market.
If you are interested in buying or selling a home, take advantage of the knowledge and tools we provide on this site. As a buyer educate yourself as much as possible with the articles on the right-hand side of this page, and if you are considering selling your home take advantage of our free home valuation tool. Give the Jackie Ruden Realty Team a call today and we will put our expertise to work for you!
See Additional Reports on the St. George Real Estate Market
St. George Homes for Sale
Here are the most recent home listings just added to the database in the median sale price range for St. George. All homes here are priced at $347,062 or less.
Entrada Homes For Sale
