St George Utah Real Estate Market Report – February 2024

Welcome to this month’s real estate market report for St. George, Utah. How is the market for single family homes in St. George? Single family home prices are up from one year ago and sales activity is slower than twelve months ago. Find out more about the St. George real estate market in this helpful report.

Are you ready to buy a home in St. George today? Start your search here to find the perfect home for you and family. Locate homes by price, size, location, and more! Be sure to save your favorites to tour, then, 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 by using our free home valuation tool. Simply enter some basic information about your home and we will provide you a confidential market summary of your home, along with a suggested list price. Don’t hesitate, get started today!

St. George Utah Housing Stats

The average sale price for single family residential homes in St. George, Utah at the end of February 2024 was $588,514, this is a 7% increase from one year ago.

For the year so far, the average sale price for single family homes in St. George is $640,820, which is up 16% from the $552,279 average sale price at this time in 2023. 

There was a total of 283 single family properties sold in St. George during the month of February, this is 8% less homes sold compared to the previous February.

There has been 6% more single family homes sold so far this year than at this time in 2023, there has been 613 listings sold in 2024 versus 578 sold by this time in 2023.

A total of 479 single family homes went under a pending contract in St. George last month, this is up 15% from this time one year ago.

Pending contracts compared to this time last year are up 17% from 763 to 896.

A total of 749 new single-family home listings hit the market in St. George during February, this is an increase of 11% in listing activity compared to one year ago.

For 2024 there has been 1,383 new listings to hit the market in St. George, this is up 8% from 1,274 new listings to come to market by this time in 2023.

There was a total of 1,580 active single-family property listings for sale in St. George at the end of February, total listings are up 2% compared to this time last year.

For the year so far, there has been a total of 2,743 active listings in the St. George real estate market, this is just 0.1% less than were on the market for sale at this time in 2023.

Single family properties are on the market for an average of 73 days before being sold and sellers are getting 95.5% of their original list price at closing.

There is approximately four months of single-family home inventory available to buyers.

What Does This Mean For Buyers In St George Utah?

Buyers searching for homes to buy in St. George face a market of rising prices and too few homes to choose from. The benefit for buyers is that there is less competition for homes and buyers are able to pay slightly less than full asking price for a home.

Inventory levels have only slightly decreased year to year, falling from 4.2 months of inventory at this time in 2023 to just 4 months of inventory available so far in 2024.

Buyers can take advantage of the slowdown in activity by leveraging their offer to get more value for their money. The St. George real estate market is in a seasonal downturn, and the coming spring season may see competition for homes increase. Buyers who find the perfect property should have financing in place and be ready to act when a home is found.

What Does This Mean For Sellers?

The real estate market for homes in St. George continues to favor sellers as there is less than six months of inventory available. Sellers have to be patient in dynamic markets like St. George. While there is a slight drawback in demand, this is typical for this time of year.

Demand for homes continues, however, as there has been month to month increases in the sold price to list price ratio for sellers. Sellers may see their home stay on the market a little longer than average at this time of year. As we head in to the spring season, sellers should see an increase in activity. Seasonal trends indicate that there will be an increase in buying activity. Sellers should add extra touches to their home that will make their property stand out. Price is not always the only thing that matters to buyers and sellers should find ways to maximize the value of their property to facilitate a quick sale. 

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 $588,514 or less.

Entrada Homes For Sale

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