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 May 2022 and is presented to you by the Jackie Ruden Realty Team. What are the market conditions like for single-family homes in St. George? Are prices for homes higher this year? Is now a good time to sell your home? Find out answers to these and more in this helpful report.
Are you ready to buy a home in St George today? Start your search here to find the perfect home for you, locate homes by price, size, location, and more. Be sure to save your searches, and then, sign up to be notified as soon as new properties become available so you don’t miss out!
Are you ready to sell your home in St. George today but just not sure for what price? Find out what your home may be worth by using our free home valuation tool. Simply enter some basic information about your home and we will provide you with a confidential market summary with a suggested listing price for your home. Knowing your home’s actual worth is the most important step in selling your home.
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St. George Utah Housing Stats
The average selling price for single-family homes in St. George, Utah, at the end of May 2022 was $636,842, which is a year-to-year increase of 26.4%.
The average list price for single-family homes in St. George at the end of May was $863,798, which is a year-to-year increase of 11.4%.
The average list price for 2022 so far is $750,819, which is up 24.9% from one year ago.
There were 426 single-family homes sold during the month of May, this was down 7.6% compared to the previous May. For the year so far there have been 2,234 properties sold, down 9.3% from 2,463 sold by this time in 2021.
There were a total of 458 single-family home listings that went under contract in May, this is a decrease of 7.3% from one year ago. Pending listings from year to year were down 12.3%, dropping from 2,631 to 2,307.
There were a total of 806 new listings of single-family homes to hit the market in St. George during May, this is a year-to-year increase of 32.1%. This puts the inventory of homes available in St. George to 1.8 months of supply.
The supply of homes in St. George has increased every month since February, climbing from just a month of inventory available to 1.8 months available at the end of May 2022.
Homes in St. George are on the market for an average of 18 days before being sold, and sellers are getting 101% of their original list price for their homes at closing.
What Does This Mean For Buyers In St George Utah?
Buyers who are searching for a property to buy in St. George this summer can expect a little more inventory available and a competitive buying market. Overbidding for properties was consistent throughout the month of May and could continue through the summer.
Single-family home prices have increased as much as 25% year to year and buyers who are picky about their wants will end up paying more for a home as prices climb higher. Buyers should have financing in place and be ready to act when a property is found.
If you are thinking of buying a home here in beautiful St. George, Utah, give us a call today. Our professional and knowledgeable staff is here to guide and assist you to find and buy the perfect home!
What Does This Mean For Sellers In St George Utah?
The real estate market for single-family homes in St. George, Utah, currently favors sellers. Low inventory and continuing demand have created the conditions where sellers are getting as much as 101% of the list price for their home and properties are on the market for 20 days or less.
Single-family homes listed between $500-749,999 are in particularly high demand. While sellers may choose to wait to see their home values increase further, they will not want to wait very long. Higher interest rates and rising prices could create a slowdown causing a drop in listing prices.
If you are thinking of selling your home in St. George, give us a call today! We will create a competitive pricing strategy, market your home, and show it to the most qualified of buyers so your home sells 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 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 $636,842 or less.
Entrada Homes For Sale