Welcome to this month’s St. George, Utah, real estate market report. Real estate activity in St. George was slow for the month of January, average sale prices were lower than one year ago, and inventory levels fell each month during the fourth quarter of 2024. New listings have declined for three straight months and buying activity has also slowed. 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 January 2025 was $565,682, this is down 18% compared to the previous January.
Single family home prices are beginning the year 18.4% lower than the start of 2024, the average sale price for single family homes is $563,432 compared to the previous January average of $690,522.
There was a total of 291 single family properties sold in St. George last month, this is down 12% from one year ago.
Total sales volume has fell each month during the last quarter of 2024, dropping from over $200,000,000 in total sales to $180,000,000 in total sales at the end of December 2024.
A total of 436 single family listings went under a pending contract in January, this is up 6.6% compared to January 2024.
There was a total of 723 new listings were offered to buyers in St. George during the month of January, new listing activity is up 12.6% from the previous January.
Listing volume fell from over 400 new listings during October of 2024, to just 300 new listings at the end of December 2024.
There is a total of 1,810 active listings in the St. George, Utah, real estate market, this is up 22% compared to this time one year ago. There is approximately 4.4 months of inventory available to buyers in St. George,
Single family homes were on the market for 82 days in January before being sold. The average number of days a house is on the market before being has climbed from 60 days at the end of October 2024, to over 80 days at the end of December 2024.
Competition for homes has slowed over the previous three months, in October 2024, sellers were getting an average of 96% of their original asking price for their homes at closing, while at the end of January 2025, sellers were getting just 95.5% of their original list price at closing.
What Does This Mean For Buyers In St George Utah?
The good news for buyers looking for a home to buy in St. George, Utah, is that home prices are lower than one year ago. However, there is less inventory available to buyers than at this time last year. Mortgage interest rates are starting to decline which is also good news for buyers. Buyers should be aware that if rates continue to fall this will inspire buyers who have been waiting for lower interest rates to enter the market, which increases demand, which in turn could cause a spike in prices.
Buyers should have a plan of action in place before searching for homes. Buyers should have a list of must haves in a home and a list of what is negotiable. The first step for all buyers is to have financing in place, buyers should prepare a max price to pay in the event of competitive bidding. The key to a successful home purchase is to prepare for every possibility, working closely with your realtor and relying on their expertise will make your home buying experience go as smooth as possible.
What Does This Mean For Sellers?
Sellers of single-family homes in St. George, Utah, should exercise patience, while the winter months are typically slower than the rest of the year, the last three quarters of 2024 has seen less than average buying activity, and this has caused some sellers to reduce the listing price of their property. The good news for sellers is that interest rates are starting to fall which will spur buying activity. Sellers can be cautiously optimistic that buying activity will increase this year and there will be a surge in purchases. Sellers who have been on the fence about selling their home should get their home listed and offered to the market sooner rather than later.
To be successful at selling your home and netting the most money possible, sellers should have a selling strategy, beginning with pricing your home accurately and competitively. Sellers should work closely with their realtor to insure the best features of the home are presented and that the property is marketed to the most qualified buyers. Sellers should be realistic with their expectations and plan for every contingency.
If you are thinking of buying or selling a home in St. George, Utah, this year, give us a call. We are experts in navigating the St. George real estate market and we work to make your buying or selling experience a great one!
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 $565,682 or less.
