Welcome to this month’s real estate market report for the city of St. George, Utah. St. George is a thriving community located in the southwestern portion of Utah. St. George is known for attracting nature lovers who move to the area to enjoy the multitude of state and national parks that are situated close by. Single family home average sale prices have dropped year to year, and there has been a slowdown in buying activity month to month. 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 November 2024 was $566,198, which is down 8.64% compared to November 2023.
Compared to 2023, single family home sale prices in St. George are up 5.2% from $577,835 to $607,872.
There was a total of 317 single family properties sold during the month of November, this is down 11.2% compared to one year ago.
For the year, sold listings are higher this year, sold listings are up 6.8% from 4,280 sold by this time in 2023, to a total of 4,571 sold so far this year in St. George.
There was a total of 376 single family listings that went under a pending contract in November, which is up 9.3% compared to the previous November.
The total number of pending contracts for 2024 is 4,823, which is up 8% compared to just 4,465 pending contracts at this time in 2023.
A total of 489 new property listings hit the market in St. George last month, this is up 6.8% for the year.
There has been a total of 7,396 single family property listings for sale in St. George in 2024, this is up 12.8% from just 6,555 single family property listings at this time in 2023.
There was a total of 2,014 active single-family home listings in St. George at the end of November, new listings are up 26.7% compared to this time one year.
There are more active single-family property listings in St. George this year than at this time one year ago, total active listings are up 9.4% from 8,026 to 8,779.
At the end of November, St. George has a total of 4.9 months of inventory available, which is down month to month from 5.1 months of inventory available at the end of October.
Single family properties are on the market for an average of 69 days on the market before being sold and sellers are getting 96.4% of their original asking price at closing.
What Does This Mean For Buyers In St George Utah?
Buyers searching for a home to buy in St. George over the next month can expect to see slightly lower prices and more inventory available to purchase. The winter season typically has less competition for single family homes. Prices may fall over the next month and this may give buyers more options of homes to buy. The winter months are a good time to purchase a home and some sellers may reduce their asking price as their home sits on the market longer.
Buyers should have a plan of action and financing in place so as to take swift action when a property is found. As prices drop, buyers could find themselves in a more competitive situation, as sellers list to sale price ratio increased from month to month. Buyers can expect to see prices flatlining or dropping over the next couple of months.
What Does This Mean For Sellers?
For sellers of single-family properties in St. George, Utah, it is still a sellers-market. While there has been an increase in inventory, there was more competition for homes over the month of November, than in October. Sellers list to sale price ratio increased, and while there was a drop, in prices compared to the previous November, overall sale prices are up compared to 2023. Sellers should exercise patience in these current market conditions, single family homes are sitting on the market almost 70 days before being sold.
As the new year begins, prices may continue to drop, however, as 2025 begins there may be a surge in demand if economic conditions improve and interest rates start falling. Sellers should be prepared for all possible situations, have a pricing strategy in place, and work closely with their realtor to meet the challenges of any market situation.
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 $566,198 or less.
