Welcome to this month’s St. George, Utah real estate market report presented to you by the Jackie Ruden Realty Team. If you are thinking of buying or selling a home in beautiful St. George, give Jackie’s team a call today. To find out the latest real estate statistics for St. George, read this helpful report to get up to date.
If you are trying to find a home to buy in St. George but are frustrated by the lack of results from the popular home search websites, then, start searching here with our free search tool to find homes by price, size, location, and more. Be sure to save your searches and also, sign up to be notified as soon as new matching properties become available so you don’t miss out!
Are you ready to sell your home but not sure for what price? Find out what your home may be worth using our free home valuation tool. Simply enter some basic information about your property and we will provide you with a comprehensive market summary with a suggested list price for your home. Don’t hesitate, get started today, give us a call at (435) 272-7710!
St. George Utah Housing Stats
The average sale price for single-family homes in St. George, Utah at the end of February 2022 was $621,263, which is a year-to-year increase of 28.75% from $482,549.
For the year so far, the average sale price for single-family homes is $601,324, up 23.22% from the $488,022 average sale price at this time last year.
There were 338 single-family homes sold in St. George last month, which is a year-to-year drop of 26.2%. This year there has been a total of 720 single family homes sold, so far this is a drop in sales activity of 16.2% from 859 sold by this time last year.
A total of 481 property listings went under contract during February, this is a year-to-year drop of 9.6% in pending contract activity. Total pending activity for this year is also behind last year’s average, total pending listings this year are 926, down 14.9% from 1,088 pending’s at this time last year.
There was a total of 579 new listings to hit the market in St. George last month, this is just a slight year-to-year increase of 0.7%. In St. George so far this year there has been a total of 1,020 new listings offered on the market, this is just slightly lower than the 1,080 new listings that hit the market by this time one year ago.
Homes were on the market for an average of 41 days before being sold during February, this is a year-to-year slowdown in activity of 57.69% from the 21 day average the previous February.
Sellers are getting 98.1% of their list price at closing, and there is just one month of inventory in St. George available to buyers.
What Does This Mean For Buyers In St George Utah?
Buyers can expect to see a market of rising prices and diminished inventory. Buyers should be aware that time is not on their side, and with the possibility of interest rates rising, buyers need to lock in financing sooner rather than later.
If financing is in place, then a buyer should be prepared to act assertively once a property is found, and submitting a bid that stands out among all other bids. As we head in to the spring season, buyers may face more competition and possibly overbidding for properties.
Having a great agent on your side to navigate the complex and dynamic St. George real estate market is a must. Give the Jacki Ruden Realty Team a call to find out how they help buyers find the perfect home!
What Does This Mean For Sellers In St George Utah?
If you have been thinking of selling your home, now is a good time to get off the fence and get your property listed. Demand for homes in St. George continues, and even as interest rates start to inch higher, sellers can still expect continued buying activity.
Sellers may want to take advantage of the rising home values and decide if it makes economic sense to cash in your investment. Sellers should make a decision quickly as interest rates may accelerate later this year.
If you are thinking of selling your home, give us a call. At the Jackie Ruden Realty Team, we are experts in pricing your home correctly and marketing it to the most qualified of buyers. We work with you to eliminate any worries and get your home sold quickly. Give us a call today to get started!
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 average sale price range for St. George. All homes here are priced at $621,263 or less.
Entrada Homes For Sale
