Welcome to this month’s real estate market report for St. George, Utah. St. George is a mid-size American city, situated in the southwest corner of the State of Utah. St. George is a highly sought after destination for its natural beauty and abundance of outdoor recreational opportunities. Year to year single family home prices are up 5% and there is just four months of inventory available to buyers. Find out more about the St. George 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 May 2024 was $630,903.
The year to date average sale price for single family homes in St. George is $635,516, which is up 8.5% from $585,517 at this time in 2023.
There were a total of 435 single family homes sold in St. George during the month of May, this down 12.9% compared to the previous May.
There has been a total of 2,016 single family homes sold so far this year, this is up 7.7% from 1,872 sold by this time in 2023.
A total of 507 properties were pending sale in St. George during the month of May, this up 5.8% from the previous May.
A total of 2,412 single family properties have gone under a pending contract so far in 2024, this is up 12.9% from 2,136 pending listings by the end of May 2023.
There were 713 new listings to hit the market in St. George last month, this is 11.2% more listings that came to market compared May of 2023.
New listings are up 15.5% this year compared to this time last year, up from 3,011 to 3,479.
At the end of May there were a total of 1,632 active single family home listings in St. George, active listings are up 6.7% from one year ago.
There has been a total of 4,850 active listings in the St. George real estate market so far this year, this is up 8.5% from 4,472 active listings at this time in 2023.
Single family homes are on the market in St. George for an average of 61 days before being sold, and sellers were getting 97% of their original list price for their home at close.
What Does This Mean For Buyers In St George Utah?
If you are looking for a home to buy in St. George this summer expects to see higher prices for homes and more competition for homes available. Inventory levels remain low, with approximately four months of supply.
Buyers should realize time is not on their side and when a property is found be prepared to act quickly. Buyers must have financing and a plan in place so as not to lose out on a listing.
What Does This Mean For Sellers?
If you are thinking of selling your property the summer season is one of the best times to do so. While total home sales for May were lower this year than the previous May, sellers were getting more for their property than one year ago.
There is increased buying activity, sellers were getting 97% of their asking price at closing. Homes were on the market for fewer days in May than the month before. Sellers can expect an active buying season this summer, interest rates are cooling and buyers continue to relocate from higher tax areas.
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 $630,903 or less.
