Welcome to this month’s St. George, Utah real estate market report, presented to you by the Jackie Ruden Realty Team. Single-family home prices have climbed higher year to year in St. George, and the supply of single-family homes has increased from one year ago. Find out more about the St. George real estate market in the helpful report.
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St. George Utah Housing Stats
The average sale price for single-family homes in St. George, Utah for the month of April 2022 was $628,456, which is a year-to-year increase of 23.42% from $509,200.
The average list price for single-family homes in St. George was also up 16.34% year to year during April, from $772,326 to $898,517.
There were 459 single-family homes sold during April, down from 558 sold the previous April. So far in 2022, there have been 1,780 single-family homes sold, this is down 11% from 2002 properties sold by this time in 2021.
A total of 461 listings went under contract last month, this is a year-to-year drop of 10.7% in pending activity. The total number of properties that have gone under contract this year is down 13.1% from one year ago, dropping from 2,139 to just 1,859 pending listings so far in 2022.
There were 629 new listings to hit the market in April, this is just one less than the number of new listings that hit the market during the previous April. New listings for the year are down just slightly compared to this same time one year ago, down 0.9% from 2,237 to 2,258.
St. George currently has 1.3 months of inventory available to buyers. Inventory has climbed year to year from 0.8 months of inventory available one year ago.
Single-family homes were on the market for an average of 20 days during April and sellers were getting 100.4% of their original list price at closing.
What Does This Mean For Buyers In St George Utah?
Buyers who are looking for a home in St. George, face a dynamic set of challenges. Home prices are climbing, inventory levels are very low, and interest rates are beginning to rise. This is compounded by the fact that some sellers are hesitant to list their property because they are unable to find a home to buy, this prevents more inventory from becoming available.
Buyers have to be patient but ready to act, competition for homes is increasing as overbidding for homes is increasing. Some buyers may have to eliminate must-have options from their wish list to get a home within their budget. Buyers should work closely with their realtor to make sure their home buying objectives are accomplished.
What Does This Mean For Sellers In St George Utah?
The real estate market in St. George currently favors sellers as demand continues into the summer season. Property values are increasing and many sellers who list their homes are receiving above list price at closing. As regional demographics shift, sellers of homes in St. George can expect to see demand continue.
While low inventory levels can have a reverse effect on sellers, it is possible to sell and buy a home quickly in St. George. Working with an experienced and knowledgeable realtor will ensure that the sale of your home is smooth and stress-free.
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!
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 $628,456 or less.
Entrada Homes For Sale