Welcome to this month’s real estate market report for the southwestern Utah community of St. George. St. George is located near major United States parks and recreation areas, attracting many people who enjoy the scenic views and outdoor opportunities. The average sale price for single family homes in St. George increased 7% from last year, inventory levels are still low compared to one year ago. Find out more about the St. George real estate market in this helpful report.
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St. George Utah Housing Stats
The average sale price for single family homes in St. George, Utah, at the end of July 2024 was $611,924, this is up 3.1% compared to the previous July.
For the year the average sale price for single family homes in St. George is $622,734, this is up 7.7% from $577,912 at this time in 2023.
There was a total of 416 single family properties sold in St. George last month, this is up from 387 sold during July of one year ago. There has been a total of 2,980 single family homes sold in St. George so far this year, this is up 9% from 2,721 sold by this time in 2023.
A total of 437 single family properties went under a pending contract during July, this is from 391 pending listings during July 2023. A total of 3,231 single family homes have gone under contract so far in 2024, this is up 10.5% from 2,923 pending listings at this time one year ago.
There was a total of 681 new listings to hit the market in St. George the previous month, this is up from 561 new listings to hit the market in July of last year. For the year so far, there has been a total of 4,786 new listings to hit the market in St. George this year, this is up 14.6% from 4,178 new listings that were on the market at this time in 2023.
There is a total of 1,706 active listings for sale in the St. George area, total active listings are up from 1,528 active listings at the end of the previous July. There has been a total of 6,185 active listings in St. George this year, this is up 9.3% from 5,661 active listings at this time in 2023.
There is a total of 4.2 months of inventory available to buyers, and homes were on the market for an average of 63 days before being sold in July. Sellers were getting 96.5% of their original list price at closing, sellers sold to list ratio has declined over the last three months.
What Does This Mean For Buyers In St George Utah?
Buyers who are looking for a home to buy in St. George can expect to see higher prices and slightly more inventory. Buying activity has slowed and buyers can expect to see less competition for homes available. Buyers can find opportunity in this market, sellers are accepting less than full value for their homes on average. This can create favorable conditions for buyers looking to buy a home in St. George. Buyers should always have financing in place and be ready to take action when a property is found.
What Does This Mean For Sellers?
While the market for homes currently favors sellers, homes are taking longer to be sold. Homes were on the market longer from month to month, and seller sold to list price ratio has dropped over the last three months. Sellers who decide to list their property for sale should exercise patience. Inflation and interest rates have kept many buyers on the sidelines. However, St. George is a popular destination for buyers and home sales price are higher year to year. Sellers should have a plan of action and a pricing strategy when their homes is listed.
If you are thinking of buying or selling a home in St. George, Utah, give us a call today. We can provide you our experience and knowledge of our unique to find you a home or sell your home quickly.
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, we understand the dynamics of the current real estate market in St. George. We will put our expertise to work for you!
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 $611,924 or less.
