Welcome to this month’s real estate market report for St. George, Utah presented to you by the Jackie Ruden Realty Team. As St. George heads into the winter season there is a slowdown in buying and selling activity. Homes are on the market twice as long as they were even two months ago, new listings are up, and total sales volume is flat. Find out the latest housing data with this helpful report.
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Do you need to upgrade or downsize and need to sell your home but are 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 property and we will provide you with a confidential market summary of your home and a suggested list price. Knowing your home’s true value is the first step to selling your home.
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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 September 2022 was $610,873, this is up 15% compared to the previous September. For the year so far the average sale price of single-family homes in St. George is 21% higher than at this time last year, up from $512,800 to $621,116.
The average list price for single-family homes in St. George at the end of September was $731,682, this down, 12% compared to this time one year ago. For 2022 the year-to-date average list price is up 19% from $592,137 to %707,595.
There was a total of 366 properties sold during September, this is a year-to-year drop in sales activity of 28%. The total number of homes sold this year is down 16% compared to one year ago, there has been 3,808 properties sold so far this year compared to just 4541 sold by this time in 2021.
A total of 336 listings went under contract in September, this is down 34% compared to the previous September. Total pending listings for the year are down compared to this time in 2021, total pending listings for 2022 so far are 3,751 down from 4,664 at this time last year.
There was a total of 640 new listings to hit the market in St. George last month, this is a drop of 2.3% compared to this time one year ago. The total number of new listings are up 6% for the year so far in 2022 compared to this time in 2021, up from 5,638 to 5,996.
There is a total of 1,613 active listings available to buyers in St. George, up from 910 during September of last year. For the year so far there has been a total of 6,539 active listings in the St. George real estate market, this is up 6% from 6,160 active listings at this time in 2021.
Homes are on the market for an average of 43 days before being sold, compared to just 21 days before being sold during the previous September.
Sellers’ list price-to-sale price ratio has fallen year to year, down from 98% during the previous September to just 94.7% at the end of September 2022.
What Does This Mean For Buyers In St George Utah?
If you are in the process of buying, or thinking of buying a home, be aware of the following. Prices for single-family homes and interest rates for mortgages are both rising, and are expected to increase over the winter. There is good news for buyers, there is more inventory available now than at this time last year and there is less competition for homes. Buyers can also expect to pay less than the asking price for homes in most cases, which helps buyers save money at closing.
What Does This Mean For Sellers In St George Utah?
Sellers of homes in St. George, Utah, should be prepared for their homes to stay on the market a little longer than usual. Days on the market before selling has increased from 20 days in June to over 40 days at the end of September. Sellers of homes should be aware that their homes may sell for less than the list price as higher interest rates have put many buyers on the sidelines and unable to purchase a home. The good news for sellers heading in to the winter season is that buyers who are shopping now are more serious and sellers should show off the most in-demand features of their home to help it sell 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!
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 $610,873 or less.
Entrada Homes For Sale
