St George Utah Real Estate Market Report – March 2023

Welcome to this month’s real estate market report for the community of St. George, Utah. A city that is in southwestern Utah with a population of approximately 95,000 people. St. George is a sought-after destination by people due to its proximity to year-round recreation and several popular state parks. If you are thinking of buying or selling a home in St. George, get up to date with the latest real estate statistics in this helpful report.

Are you ready to buy a home in St. George today? Start your search here to find homes by price, size, location, and more! Be sure to save your favorite properties to tour, then, sign up to be notified as soon as new matching properties become available so you don’t miss out!

Are you thinking of selling your home in St. George but not sure for how much? Find out what your home may sell for by using our free home valuation tool. Simply enter the information about your property and we will provide you a confidential market summary of your home with a suggested list price. Don’t hesitate, get started today!

St. George Utah Housing Stats

The average sale price for single family residential homes in St. George, Utah, at the end of March 2023 was $604,405, which is a year to year drop of 8.9% from $663,871.

For the year so far, the average sale price for single family homes in St. George is $571,202, this is down 8.59% from $624,913 average sales price at this time in 2022.

There was a total of 403 single family properties sold in St. George last month, this is a drop of 25% in homes sold compared to the previous March.

There has been a slowdown in total properties sold for 2023 compared to this time in 2022, sales activity is down 26.9% from 1,338 to just 978 listing sold so far in 2023.

Pending activity for single family homes fell year to year, dropping from 495 pending listings to 458 for March 2023. Pending activity for the year is down 13.7% compared to this time in 2022, down from 1,416 pending listings to just 1,222 so far this year.

New listing activity for March was down compared to one year ago, dropping 6.2% from 601 to 564. New listings for the year are ahead of last year’s pace, there has been a total of 1,820 new property listings to hit the market in St. George, compared to just 1,665 at this time one year ago.

There was a total of 1,558 active listings of single-family homes for sale in St. George, active inventory has significantly increased from one year ago, up 165% from 588. Overall inventory is up 47% for the year, up from a total of 2,221 listings at this time in 2022 to a total of 3,278 listings at the end of March 2023.

At the end of March 2023, there is approximately four months of inventory available to buyers in St. George. Single-family homes are on the market for an average of 70 days before being sold and sellers are getting 95% of their original list price at closing.

What Does This Mean For Buyers In St George Utah?

If you are looking for a home to buy in St. George, Utah, there is more inventory available, and sale prices for single-family homes are lower than at this time one year ago. Buyers are facing less competition from homes and on average are paying less than full asking price at closing.

Buyers should have financing in place and be ready to act when a property is found or they may find themselves priced out of the market. While sale prices on average are down, in some markets prices are higher and inventory is lower, buyers don’t want to miss out due to complacency. As summer continues buyers can expect these trends to continue.

What Does This Mean For Sellers In St George Utah?

If you are selling your single-family home in St. George, you should be patient. The market for properties has slowed over the last few months, however, the summer season should bring a spike in market activity. Sellers who have properties that have the most in-demand features will sell quickly, while less desirable properties may sit longer.

Sellers should be aware that the slowdown in buying activity could continue. Sellers should actively work with their agent to create a marketing place and align expectations with market realities.

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!

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 average sale price range for St. George. All homes here are priced at $604,405 or less.

Entrada Homes For Sale

St George Utah Real Estate Market Report - March 2023
Article Name
St George Utah Real Estate Market Report - March 2023
The average sale price for single family residential homes in St. George, Utah, at the end of March 2023 was $604,405, which is a year-to-year drop of 8.9% from $663,871.
Publisher Name
Jackie Ruden Realty Team
Publisher Logo
Share This Page