Welcome to this month’s real estate market report for St. George, Utah, presented to you by The Jackie Ruden Realty Team. Curious to know how the Covid-19 situation has affected the housing market in St George? Read this report to find out.

Are you looking to buy a home soon? Start your search here by using our free search tool. Search for homes by price, size, or location. Be sure to save your searches and sign up to be notified as soon as new, matching properties become available. Then give us a call today and we can answer all your home buying questions!

Are you thinking of selling your home and wonder what it might sell for? Make use of our free home valuation tool. It is easy to do, simply enter some basic information about your home and we will provide you with an estimate of your home’s market value. Give us a call and we can show you how we can sell your home quickly.

St. George Utah Housing Stats

The average sale price for single-family homes in St George ended July 2020 at $409,697 a steep increase of 23.13% from one year ago. The year to date average sale price increased to $379,439 from $340,392 one year ago. Demand is putting upward pressure on homes in most price markets.

The average list price for homes ended July 2020 at $533,302, an increase of 12.42% compared to one year ago. The year to date average list price is $444,204, up from $409,183 compared to one year ago.

Home averaged 65 days on the market before being sold, average days on the market increased only slightly from June to July, but up from 55 days during May 2020.

Sellers list to sale price ratio increased to 97.5% in July. The list to sale price ratio has climbed to 97.5% during 2020, signaling more competition among buyers submitting offers.

A total of 694 listings sold in July in St George, an increase from 518 during the same period in 2019. The year to date number of sold listings is higher this year by 6.2%, up from 3,171 to 3,369.

There were 746 homes that went under contract during July, a steep increase compared to the previous July number of 521 solds. The increase being sales of homes delayed by Covid-19 restrictions. The year to date number of homes going under contract increased 11.2% from 3,474 to 3,872 so far in 2020.

There were 641 new listings to hit the market last month in St George, a decrease of 3.8% from 666 during July 2020. There is also a decrease in the year to date total of new listings, down 2.4% from 4,655 to 4,544.

There are a total of 1,110 active listings in St George, a steep decrease of 27.0% from the previous July total of 1,520 active listings. However, the year to date total of active listings is only down 2.2% from 6,059 to 5,925.

Housing inventory in St George has steadily decreased this year, there is approximately two and a half months of housing inventory available. Inventory has fallen from 3.5 months at the beginning of January 2020. This trend may continue until the summer buying season ends.

What Does This Mean For Buyers In St George Utah?

Buyers can expect shrinking inventory and higher prices, which is why it is important to be ready to act as soon as a favorite property is found.

It is a seller’s market in St George and buyers don’t want to become too picky. It is important to have financing in place and close contact with your agent to submit the most competitive offer when a property is found.

What Does This Mean For Sellers In St George Utah?

Sellers are in a good position as home values are appreciating as demand picks up while Covid restrictions become loosened.

Sellers should take advantage of new technologies like virtual tours and extra sanitizing of homes for interested buyers. As long as interest rates continue to be attractive and buyers relocate from neighboring states, sellers should expect to sell their home for very close to asking price.

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 $409,697 or less.


Entrada Homes For Sale


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Summary
St George Utah Real Estate Market Report - July 2020
Article Name
St George Utah Real Estate Market Report - July 2020
Description
The average sale price for single family homes in St George ended July 2020 at $409,697 a steep increase of 23.13% from one year ago. The year to date average sale price increased to $379,439 from $340,392 one year ago. Demand is putting upward pressure on homes in most price markets.
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Jackie Ruden Realty Team
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