Welcome to this month’s real estate market report for the southwestern Utah city of St. George. The market for single family homes during the month of June was slightly slower than May. Total sale volume of single-family properties dropped month to month, and inventory declined for the third straight month. However, sales activity has increased this year compared to the previous year. Find out more about the St. George, Utah 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 June 2024 was $599,247, which is up 12.13% from one year ago.
For the year the average sale price for single family homes is $624,806, which is up 8.59% from an average sale price of $575,404 at this time in 2023.
There was a total of 431 single family homes sold in St. George during the month of June, this is down 6.7% compared to June of 2023.
The year to date total of single-family homes sold in St. George is 2,557 which his up 9.6% from 2,334 sold by this time the previous year.
A total of 396 single family homes were under a pending contract in June, this is down 0.3% from last year.
Pending listings for the year are up 10.5% from 2,533 at this time in 2023, to 2,799.
There was a total of 601 new single-family home listings to hit the market in St. George last month, this is down 1.3% compared to this time one year ago.
The year to date total of new single-family home listings to hit the market in St. George is up 13.1% from 3,629 at new listings at this time in 2023 to 4,104 new listing so far in 2024.
There was a total of 1,651 active single-family home listings in St. George at the end of June, this is up 11% compared to June of the previous year.
For the year the total number of active single-family listings in St. George is up just 7.4% from 5,099 active listings at this time one year ago, to 5,476 total active listings for 2024.
Single family properties in St. George were on the market for an average of 63 days before being sold, this is down just 3.08% from an average of 65 days during June 2023.
Sellers are getting 96.8% of their original list price at closing, this is up from 96.1% compared to June of last year.
At the end of June there was a total of 4.1 months of inventory available to buyers.
What Does This Mean For Buyers In St George Utah?
If you are a buyer looking for the perfect property to buy in St. George, Utah, expect to find fewer homes available. The inventory of single-family homes in St. George has dropped over the last three months. The good news for buyers is that sellers are accepting 4-5% less than asking price for their home. This can be a tremendous savings to buyers.
Buyers looking for a home in St. George should expect the trends of tighter supply and higher prices to continue. As we head in to the fall months there could be some buyers who decide to wait, and this may help the more immediate needing buyers to find more value for less money in some properties. Buyers should have a plan in place and be ready to act when a property is found.
What Does This Mean For Sellers?
If you are selling your home in St. George this summer expect to be patient. While inventory is down, and overall sales are higher than one year ago, homes are sitting on the market longer this year than they were in 2023. The average sale price to list price for single family homes has dropped from its high of 97% during the month of May. As we proceed in to the fall season, more buyers may wait on the sidelines until after the end of the year. Inflation, interest rates, and an election may play a part in slowing down real estate buying activity in St. George.
Sellers should create a plan of action to sell their home, taking in to account of every possible scenario from price reductions to considering multiple offers. Simple planning can potentially earn you more money and sell your home quickly.
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 $599,247 or less.
