Welcome to this month’s St. George, Utah real estate market report. Are you curious about what is happening in real estate in the St. George area? Are home prices going up? Are there more homes available for purchase? This report will answer those questions using the most recent real estate market data.
Are you considering selling your home soon? The Jackie Ruden Realty Team offers sellers a free home valuation tool to give you an idea of your home’s worth. Simply answer a few questions about your home, and we will provide you with an estimate of your home’s value. Click on the home valuation link to get started.
Are you thinking of buying a home? The Jackie Ruden Realty Team provides a free search tool so you can find properties that match your criteria. Search for homes by price, location, or size, then, be sure to save your search, and sign up to be notified as soon as new properties become available. Give us a call today and we can help you find the perfect home.
St. George Utah Housing Stats
The average sale price for homes in St. George, Utah ending January 2020 was $358,973, an increase of 12.5% from $318,870 one year ago. Total sales volume for January was $160,000,000, down slightly from a sold volume of $180,000,000 in December 2019.
The average list price for homes beginning February 2020 was $502,168, an increase of 12.1% from $447,624 twelve months ago. New listing volume increased to slightly above $300,000,000 for January, well above the $180,000,000 new list volume one month ago.
Available inventory has decreased over the last three months, dropping from 3.5 months available in October 2019 to less than 3.2 months ending January 2020.
St George Sold, Pending, and New Listing Stats
Let’s now take a look at listings sold, pending, and new units that hit the market during January 2020.
There was a total of 336 homes sold last month, only two more than 334 one year ago. There were just 52 homes sold in January 2020 for $199,000 or less, falling from 75 one year ago this month.
The $500-749,000 price range had the highest percentage of new listings, increasing 43.5% from 23 sold listings in January 2019 to 33 sold listings in January 2020.
Turning to listings that went under contract in January 2020, the $250-299,000 market had the most with 84 homes going pending. The second-highest number was in the $200-249,000 price range, which had 57 homes under contract ending January 2020.
In St. George, the number of new listings reflected the shrinking inventory available. Only 731 new listings became available in January 2020, compared to 747 one year ago. However, buyers in certain price ranges will find an increase in the number of listings.
Buyers looking in the $200-249,000 price range will see an increase of listings from 68 one year ago to 78 during January 2020. Inventory has also increased in the $500-999,000 price bracket increased from 113 one year ago to 135 ending January 2020.
What Does This Mean For Buyers In St George Utah?
If you are looking to buy a home in St. George before the spring buying season hits expect to see less inventory available in most price ranges. Sellers may be waiting to list their homes until warmer weather hits so buyers should be patient when looking for a home during the winter season. However, buyers may be able to pay less than the full asking price for homes as sellers may be more motivated to sell.
Buyers should have financing in place and be ready to act when they find a perfect home. The Jackie Ruden Realty Team is here to assist you through the entire home buying process. Give us a call and we can put our expertise to work for you to find the perfect home for you in St. George, Utah.
What Does This Mean For Sellers In St George Utah?
For sellers in St. George, Utah, now is a good time to get your home listed. Higher demand and less inventory available put sellers in a good position for hungry buyers. Prices for homes are increasing, and with low-interest rates available to buyers, sellers can take advantage of this situation to put their home on the market and be ready as the spring buying season begins.
The Jackie Ruden Realty Team helps sellers by pricing their home competitively, showing off the best features of your home, and marketing your investment to the most qualified of buyers. Give us a call today and we can answer all your questions about selling your home in St. George, Utah.
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!
See Additional Reports on the St. George Real Estate Market
St. George Homes for Sale
Here are the most recent home listings just added to the database in the median sale price range for St. George. All homes here are priced at $358,973 or less.
Entrada Homes For Sale
