Welcome to this month’s real estate market report for St. George, Utah. A modest-sized city located in southwestern Utah. St. George offers easy convenience to many outdoor activities and is close to two major national parks. That’s why it is a favored destination of homeowners and buyers because of its natural beauty. Find out how the real estate market has performed in St. George so far this year in this helpful report.
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St. George Utah Housing Stats
The average sale price for single-family residential homes in St. George, Utah at the end of January 2024 was $707,331. Single-family home average sales prices are up 26% from the $558,577 sale average at the end of January 2023.
There were a total of 287 single-family units sold during January in St. George. The number of single-family homes sold so far this year is up 6.7% from 269 sold compared to the previous year.
A total of 436 single-family properties were under a pending contract at the end of January. For the year pending sales are up 25% from 348 pending sales at the end of January one year ago.
At the end of January, there were a total of 1,432 single-family properties listed for sale. Total number of active listings is down 5.1% from 1,509 active listings at the end of January 2023.
There 625 new single-family home listings were offered to the market in St. George during January. Compared to the previous January, new listings are up 4.3% from 599.
Single-family homes are on the market for an average of 74 days before being sold last month, and there is a total of 3.7 months of inventory available to buyers in St. George.
What Does This Mean For Buyers In St George Utah?
Buyers searching for a home to buy in St. George this year can expect to see higher prices for single-family homes. Average listing prices for single-family homes are up 8% from one year ago. Competition for homes remains in St. George, while buyers on average are paying less than asking price for homes, more homes were sold last month compared to the same time last year.
Buyers of homes in St. George may see average prices take a dip before heading into the summer season. Buyers who have financing in place and a clear plan of action will be well positioned to get their favorite property at the best price.
What Does This Mean For Sellers?
The real estate market for single family homes in St. George continues to favor sellers. Listing prices are up year to year, and during the first month of this year more homes were sold for higher prices compared to the first month of 2023.
While average sale prices for single-family homes are higher than one year ago, sellers should remain patient. Single-family homes are on the market for a slightly longer period than one year ago. Competition for homes continues, however, sellers on average are selling their homes for 4% less than the original list price.
The real estate market for single-family homes in St. George will continue its current trend, however, expect a slowdown in buying activity and a slight dip in prices before the summer begins.
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 $707,331 or less.
