Welcome to this month’s real estate market report for the city of St. George, Utah. This report is based on the latest MLS data as of the end of June 2022 and is presented to you by the Jackie Ruden Realty Team. The month of June had a slowdown in buying activity and while single-family home prices are higher year to year, they have dropped from May to June. Find out more about the real estate market with 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 June 2022 was $619,584, which is a drop of 18.8% compared to the end of June 2021.
For the year so far the average sale price for single-family homes is $627,872, which is up 24% from $505,531 at this time in 2021.
The average list price for single-family homes in St. George at the end of June was $812,029, which is down 7.4% from one year ago.
So far in 2022, the average list price for single-family homes is up 24%, from $595,663 at this time in 2021 to $740,374 at the end of June 2022.
There were a total of 399 single-family homes sold in St. George during June, this is a steep drop of 28.7%, from the 560 sold during the previous June.
The total number of single-family homes sold in St. George so far this year is 2,633, which is down 12% from the 3,023 sold by this time one year ago.
A total of 376 single-family home listings went pending over the month of June, this is also a drop of 26.7% in pending activity compared to the previous June.
Pending activity has dropped year to year, dropping 14% from 3,144 pending listings to just 2,683 so far in 2022.
There were a total of 800 new listings hit the markett in June, which is a year-to-year increase of 17.5%. New listings for the year are ahead of where they were one year ago, new listing activity is up 10% from 3,528 at this time ine year ago to 3,899 so far in 2022.
The inventory of homes to buy in St. George increased month to month, increasing from 1.6 months of supply available at the end of May to 2.4 months of supply available at the end of June.
Single-family homes in St. George are on the market for an average of 17 days before being sold, and sellers are getting just 98.5% of their list price for their homes at closing.
What Does This Mean For Buyers In St George Utah?
There has been some good news for buyers, while single-family home prices have increased from one year ago, they have fallen month to month and competition is slowing down as overbidding for homes declined in June.
Buyers can also expect to see more inventory available, and we may be seeing the result of sellers wanting to take advantage of the demand and listing their properties.
Buyers should be aware time is not on their side, interest rates are rising and homes are being purchased quickly. Buyers who are too picky may miss out on buying opportunities or end up paying more for less home.
What Does This Mean For Sellers In St George Utah?
While the real estate market for single-family homes continues to favor sellers, we may be seeing the beginning of a slowdown. While summers are historically high volume months, June had a slowdown in buying activity compared to May, and buyers were not as competitive in their bidding as seller’s list to sale price ratio fell to 98.5%.
The market is still very active and homes being offered in the $500,000 and up price range continue to see strong demand. If you are thinking of selling, the time is now to get your home listed and on the market.
If you are thinking of selling your home, give us a call. We will price your home competitively and market it to the most qualified of buyers so your property sells quickly! Don’t hesitate, get started today!
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!
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 $619,584 or less.
Entrada Homes For Sale