Welcome to this month’s real estate market report for the southwestern Utah metropolitan area of St. George. St. George, Utah, is a city situated close to many state and national parks. It attracts many outdoor enthusiasts who enjoy its close proximity to nature trails, scenic vistas, and agreeable weather. Total sales volume in St. George was up slightly month to month and home sale prices have remained steady over the last twelve months. Find out more about the St. George housing 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 October 2024 was $589,632, this is up 8.31% from one year ago.
For the year so far, single family home sale prices have increased 6.6% climbing up from $574,024 at this time in 2023, to $549,900 at the end of October.
There was a total of 401 single family properties sold in St. George during the month of October, this is up 4.7% compared to the previous October.
So far in 2024, there has been a total of 4,226 single family properties sold in St. George, this is up 7.7% from 3,923 sold at the end of October 2023.
A total of 422 single family properties went under a pending contract during October 2024, this was up 7.9% from one year ago.
A total of 4,470 single family homes in St. George have gone under a pending contract so far in 2024, this is up 8.5% from 4,120 pending listings at this time in 2023.
A total of 677 new listings hit the market in St. George last month, this is up 15.3% compared to October of 2023.
The total number of new listings to hit the market in St. George so far this year is up 12.8% climbing from 6.097 to 6,879 so far in 2024.
There was a total of 2,062 active single-family property listings in St. George at the end of October 2024, this is up 22.1% year to year.
There has been a total of 8.244 active listings in the St. George real estate market this year so far, this is up 8.9% from 7,567 active listings at this time in 2023.
There was approximately 5 months of inventory available to buyers in St. George at the end of October. This is up from 4.2 months of inventory available at the end of October 2023.
Single family properties were on the market for an average of 60 days before being sold, and sellers were getting 96% of the original asking price for their home at closing.
What Does This Mean For Buyers In St George Utah?
Buyers who are looking to purchase a single-family home in St. George will find more inventory and slightly higher than average sale prices. Additional inventory has keep prices steady or slightly higher than one year ago. Competition for homes still remains low as buyers are on average paying less than full asking price for properties. Buyers can leverage their options as homes have been staying on the market for longer than average and this can benefit buyers by acquiring homes for less than full asking price.
Buyers who are searching for a home should have financing in place and be ready to act when a home is found. Indecisiveness can cost a buyer time and possibly lose out on the perfect home. Working with your realtor closely will help insure your home buying success.
What Does This Mean For Sellers?
If you are a seller with a home listed for sale in the St. George real estate market expect to be patient as homes have been on average staying on the market for an average of 60 days. While this has dropped over the last two months, and buying activity has increased, the St. George real estate market is starting to favor buyers. While the market is trending towards a buyers-market this may change in the coming months. If interest rates begin to fall and inflation becomes less of a worry expect to see an uptick in buying activity. Sellers who have been on the fence or waiting, should start planning to get their home valued properly and create a listing strategy to be ready to have your home on the market.
The first step in selling your home is knowing its value and understanding the market you are selling to. If you have been thinking of selling your home give us a call today and we can answer all your questions. Don’t hesitate get started today!
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 $589,632 or less.
