Welcome to this month’s real estate market report for St. George, Utah. The last month of summer, real estate activity in St. George was slower than the previous year, with 9% fewer listings sold. Average sale prices for single family homes is down from year to year, and inventory has increase slightly from one year ago. Get caught up on the latest real estate data for St. George, Utah in this helpful report.
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St. George Utah Housing Stats
The average sale price for single family homes in the St. George, Utah, real estate market at the end of September 2024 was $599,785, which is up 5.94% from one year ago.
For the year, the average sale price for single family homes is $614,781, this up 6.5% from $577,232 at this time in 2024.
There was a total of 365 single family properties sold in St. George during September, this is down 9% from this time last year. For the year so far, there has been a total of 3,815 single family listings sold in St. George, this is up 7.8% from just 3,540 sold by this time in 2023.
There was a total of 446 properties that went under a pending contract during September, this is up 12.3% compared to one year ago. There has been a total of 4,075 listings go under a pending contract in 2024, this is up 9.2% from 3,730 listings under pending contract at this time in 2023.
There was a total of 697 new listings to hit the market in St. George last month, this is up 5% from one year ago. There has been a total of 6,199 new listings to come to market in St. George in 2024, this is up 12.5% from 5,510 listings to come to market by this time in 2023.
There was a total of 1,895 single family listings for sale in St. George at the end of September, this is up 16.5% compared to this time last year. There has been a total of 7,590 active listings in St. George in 2024, this is up 8.7% from 6,980 active listings at this time 2023.
There is approximately 4.6 months of inventory available to buyers in St. George.
Single family homes were on the market for an average of 67 days before being sold during September, this is up from 65 days on the market before being sold in August, and down from 73 days on the market before being sold at this time in 2023.
Sellers were getting an average of 96% of their original list price at closing, this is up from 95.6% during the month of August, and up from 95.4% at this time in 2023.
What Does This Mean For Buyers In St George Utah?
Buyers looking for a single-family home to buy in St. George face a challenging market. There is slightly more inventory available to buyers but single-family home prices have increased from one year ago. Competition for homes has slowed over the last month and buyers may find sellers more willing to lower their list price.
Buyers should have financing in place and be ready to act when a property is found. Inaction can potentially cost a buyer more money or possibly losing out on a favorite property. As we head in to the winter months expect the trends of higher prices to continue.
What Does This Mean For Sellers?
Sellers of single-family properties in St. George are facing their own set of challenges. Homes are sitting on the market longer, and sellers are having to accept less than full asking price for their home. While there has been an increase in inventory available many buyers are sitting on the sidelines.
Sellers should exercise patience when their property is listed. It is important for sellers to have a pricing strategy and options if their house is not selling quickly. In some cases, price may not be the issue, that is why it is important to show off the most desired feature of your home and making small improvements such as painting or small repairs can make all the difference in how quickly your home gets sold.
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 $599.785 or less.
