The St. George real estate market is strong in December 2024. Home prices went up by 0.6% from last year. At Oak Real Estate, we give detailed insights into the local market. This helps both buyers and sellers understand Utah’s real estate better.
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The St. George real estate market is strong in December 2024. Home prices went up by 0.6% from last year. At Oak Real Estate, we give detailed insights into the local market. This helps both buyers and sellers understand Utah’s real estate better.
Our data shows the St. George market’s current state. The median home price is $500,000. This shows the area is stable and appealing for buying or investing.
Oak Real Estate knows the local market well. We guide you through your property journey. Whether you need market insights or professional advice, our team is here to help.
Key Takeaways
- St. George home prices increased 0.6% year-over-year
- Median home price stabilized at $500,000
- Strong market performance indicates continued investment opportunity
- Diverse property options available for different buyer segments
- Professional market analysis available through Oak Real Estate
For personalized real estate insights, contact Oak Real Estate at (435) 640-7297 or (435) 879-9255.
Current Market Overview in St. George
The St. George residential sales market is strong and growing fast. Home prices are rising, creating great opportunities for buyers and sellers. This vibrant region is full of chances for real estate success.
St. George’s real estate market is a top performer, ranking 6th for recovery. It shows several important trends:
- Home prices have gone up a lot
- Sales are growing steadily
- The market looks very strong
Median Sale Price Trends
In August 2024, home prices saw a big change. They dropped by 3% from July to August. The median sales price fell from $500,000 to $470,000. Now, the median list price is $599,000, and new listings average $550,000.
Days on Market Statistics
Properties in St. George are moving quickly. The median days on market went from 33 in July to about 45 in August. This shows the market is slowing down a bit.
Year-over-Year Comparison
“The St. George real estate market continues to show strength and great opportunities for investors and homeowners.”
Recent numbers show the market is doing well:
- Home sales volume rose from $92 million in August 2023 to $95 million in August 2024
- The sales to list price ratio adjusted from 98% to 95%
- Interest rates for conventional loans are around 6%
These figures highlight the St. George residential sales market’s growth and investment possibilities.
Property Value Changes in Washington County
The Utah housing market in Washington County shows interesting trends for early 2025. Saint George is at the heart of these changes, with big shifts in home prices. These changes need close attention.
Key property value insights for Washington County include:
- Median list price: $624,922 as of January 2025
- Month-over-month price change: -3.4% (a decrease of $22,227)
- Median price per square foot: $294
In Saint George, the median home list price dropped by 2.7%, to $563,333. This small drop shows the impact of the economy and local real estate.
“Understanding property value changes requires looking beyond simple numbers to comprehend the underlying market forces,” says local real estate expert Sarah Martinez.
Home price statistics show detailed changes for different types of homes:
- 1-bedroom homes: +10.1% increase
- 2-bedroom homes: +6.1% increase
- 3-bedroom homes: -0.8% decrease
- 4-bedroom homes: -2.2% decrease
- 5+ bedroom homes: +1.1% increase
Inventory levels have grown a lot, with 844 homes available in Washington County as of January 2025. This is a 32.9% increase from the last month. It hints at a buyer’s market in the area.
St. George Home Sales Data and Market Indicators
The St. George real estate market is full of chances for buyers and sellers. Knowing the details of home sales data is key to understanding the local market.
Monthly Sales Volume Trends
St. George Home Sales Data shows a strong market with lots of activity. Important points include:
- New and existing home sales reached 7,625 units in the past year
- 7% increase in total home sales compared to the previous period
- Average sales price rose by 11% to $310,900
Price per Square Foot Analysis
Home buyer insights show St. George real estate is a good deal. The city’s median sale price is 16% higher than the national average. This shows the market is strong.
“St. George continues to be an attractive real estate market with consistent growth and promising investment opportunities.”
Market Activity Metrics
Seller data analysis points out key market indicators:
- Housing vacancy rate decreased to 1.6%
- 720 homes currently under construction
- Estimated demand for 6,075 new homes in the next three years
The St. George real estate market shows resilience and steady growth. It offers great chances for investors and homeowners.
Housing Inventory Levels
The St. George residential sales market is seeing big changes. By April 2024, the real estate trends show a lively scene for both buyers and sellers.
Here’s what the current housing inventory levels look like:
- Total active single-family property listings: 1,615
- New listings in April 2024: 737 homes
- Year-over-year increase in new listings: 38%
- Available inventory: 4 months
Market competition is fierce in certain price ranges:
| Price Range | Market Activity |
| $500,000 – $749,000 | High Competition |
| $1,000,000 and above | Strong Demand |
“The St. George housing market continues to demonstrate resilience and attractiveness for both buyers and investors,” says local real estate expert.
The average time for single-family homes on the market is 74 days. Sellers usually get 96.5% of their original list price. With summer coming, home buying activity might go up.
It’s key for buyers and sellers to watch these housing inventory data. This way, they can make smart choices in the St. George real estate market.
Property Price Distribution by Bedroom Count
To understand St. George home prices, we need to look at different bedroom counts. The St. George Home Sales Data gives us interesting insights into the local real estate.
Our detailed research breaks down pricing trends. This helps buyers and investors make smart choices.
Single Family Home Pricing
The St. George real estate market has varied prices for different home sizes:
- 1 Bedroom Homes: Prices are stable at $249,400, with a 26.6% increase in a year
- 2 Bedroom Homes: Prices have grown significantly to $395,000, a 62.6% jump
- 3 Bedroom Homes: Prices have jumped to $429,000, a 109.3% increase
- 4 Bedroom Homes: Prices have seen a modest increase to $429,500, a 14.5% rise
- 5+ Bedroom Homes: The luxury segment has reached $2.6 million, a 107.3% growth
Condominium and Townhouse Prices
The local market analysis shows different prices for attached housing:
| Property Type | Median Price | Inventory Change |
| 1 Bedroom Condos | $249,400 | +100% (1 unit) |
| 2 Bedroom Townhouses | $395,000 | No change |
| 3 Bedroom Units | $429,000 | +25% (5 units) |
Luxury Home Market Segment
The high-end market shows strong resilience. 5+ bedroom homes have reached the $2.6 million mark. This segment attracts buyers looking for large, premium homes.
St. George’s diverse housing market offers opportunities for every budget and lifestyle preference.
Neighborhood Market Performance
St. George’s residential sales show a lively real estate scene with different areas having their own prices. This variety offers special chances for buyers and investors.
- Washington county shows stable pricing
- Saint George experiences modest price adjustments
- Santa Clara reveals emerging market shifts
- Ivins demonstrates unique local characteristics
The real estate market is strong, with good chances for smart investments. Recent data highlights interesting trends in different neighborhoods:
| Neighborhood | Median List Price Change | Average Days on Market |
|---|---|---|
| Washington | 0.0% | 72 |
| Saint George | -2.7% | 69 |
| Santa Clara | -6.7% | 75 |
| Ivins | -7.1% | 77 |
Market insights show small but important differences in St. George neighborhoods. These differences offer special chances for careful buyers and investors.
“Location remains the cornerstone of real estate value, and St. George’s diverse neighborhoods exemplify this principle.” – Local Real Estate Expert
The average home price in St. George is $525,000, with an average size of 1,986 square feet. There are 285 homes in various stages of sale as of March 2024.
New Construction Impact on Sales
The St. George real estate market is changing fast. New construction is playing a big role in this change. Recent data shows exciting trends that are important for both investors and people looking to buy a home.
Building Permits and Development Dynamics
St. George’s construction scene is growing fast. There’s a strong trend in building permits. Residential development is happening in many areas.
- 33.4% of homes for sale are newly constructed properties
- Housing completions reached 1.62 million units in April 2024
- Residential real estate contributed $4.9 trillion to U.S. GDP in 2023
New Home Pricing Trends
Newly built homes are priced interestingly. They offer advantages over older homes in the market.
| Category | Average Price | Market Share |
|---|---|---|
| Standard New Construction | $425,000 | 65% |
| Luxury New Construction | $750,000 | 22% |
| Premium Energy-Efficient Homes | $495,000 | 13% |
“New construction represents not just a home, but an investment in community and innovation.” – Local Real Estate Expert
New constructions offer enhanced features. They include advanced energy efficiency and modern designs. The market is moving towards homes that are tech-savvy and eco-friendly.
Seasonal Market Fluctuations
Understanding St. George’s real estate trends is key. The market changes a lot throughout the year. This is due to many factors like the economy and people moving.
Looking at St. George home sales data gives us interesting facts:
- Winter is slower with fewer homes for sale
- Spring is busier with more homes listed
- Summer is the peak time for buying homes
- Fall slows down before winter’s calm
The current absorption rate of about 4 months shows a balanced market. Washington County’s homes keep getting more valuable, even with the ups and downs.
“Knowing the seasonal trends is vital for smart real estate choices in St. George,” says local expert Mark Reynolds.
Recent data on sellers shows the market’s lively side:
- Home prices went up by 6% in a year
- Single-level homes cost about $338 per square foot
- It takes 9-10 weeks to sell a home competitively
Investors and buyers can use these insights to plan better. Timing your entry into the market can lead to better results.
Buyer Demographics and Preferences
The St. George residential sales market shows interesting trends in home buyer preferences and demographic changes. As real estate trends evolve, it’s key to understand the changing landscape of home purchases. This knowledge is vital for investors and those looking to buy a home.
First-Time Homebuyer Landscape
First-time homebuyers are changing the St. George real estate market with their unique preferences. Recent data shows a big interest in homes priced under $300,000. Key trends among first-time buyers include:
- Preference for move-in ready homes
- Strong attraction to neighborhoods with excellent amenities
- Growing interest in properties supporting remote work capabilities
- Seeking energy-efficient and sustainable housing options
Investment Property Dynamics
The investment property market in St. George offers great opportunities for smart investors. With insights showing a strong market, investors are drawn to the area’s promising real estate.
“St. George offers a unique combination of growth and investment stability for property purchasers.” – Local Real Estate Expert
Investment properties are seeing a lot of interest, with new construction homes making up over 35% of the market. The expected population growth in Washington County, over 464,000 by 2060, makes it even more appealing.
Market Adaptation Strategies
Successful buyers are adjusting to the St. George market by:
- Conducting thorough market research
- Leveraging professional real estate consultations
- Understanding local neighborhood characteristics
- Remaining flexible with property selection
Market Comparison with Nearby Cities
St. George’s real estate market is unique in Utah. It has characteristics that set it apart from other cities. A detailed analysis shows how the city stands out.
The Utah housing market varies a lot, with St. George being a top choice. It’s great for both homebuyers and investors. Here are some key differences:
- Median sale prices 16% higher than national averages
- Cost of living 8% above national benchmarks
- Robust economic indicators supporting real estate growth
Looking at nearby cities, we see different market trends:
| City | Median Home Price | Market Stability | Growth Potencial |
|---|---|---|---|
| St. George | $385,000 | High | Strong |
| Cedar City | $275,000 | Moderate | Steady |
| Salt Lake City | $450,000 | High | Moderate |
Economic factors are key in St. George’s real estate. The city’s location, job growth, and lifestyle appeal boost housing demand.
“St. George represents a unique investment opportunity within Utah’s dynamic real estate ecosystem.” – Local Real Estate Expert
St. George’s market is very appealing. It offers affordable prices, strong economy, and growth prospects.
Oak Real Estate Services and Expertise
Understanding St. George Home Sales Data is more than just numbers. It needs expert help. Oak Real Estate offers this help to both buyers and sellers.
Our team turns complex data into clear strategies. This helps clients make smart choices in the St. George real estate market.
Professional Home Staging
Home staging is an art that boosts property value and sale speed. Our team focuses on:
- Strategic furniture placement
- Neutral color recommendations
- Maximizing space perception
- Highlighting property strengths
“Proper staging can increase home value by up to 10% and reduce market time,” notes our lead staging consultant.
New Construction Consultation
Oak Real Estate offers detailed analysis for new construction. We help clients at every step of building or buying new homes.
| Service | Details |
|---|---|
| Consultation Hours | Monday to Friday, 9:30am – 8:30pm |
| Contact Numbers | (435) 640-7297 | (435) 879-9255 |
| Key Focus Areas | Market trends, pricing strategies, development insights |
Trust Oak Real Estate to transform your property journey with professional, data-driven expertise.
Future Market Projections
The Utah housing market in St. George is set for changes. Property market analysis shows a mix of possible shifts and new chances for investors and buyers.
Here are some key predictions for St. George real estate trends:
- Housing prices might see small changes.
- Some areas could see prices drop by 25-40%.
- Builders and developers will keep a careful eye on the market.
- The market is slowly getting back to normal.
Economic signs point to a balance between market adjustments and growth. The absorption rate is closely linked to the national economy. Local factors also play a big role in shaping the future.
“The St. George real estate market shows strength through smart adjustments” – Local Real Estate Expert
Here are some expected changes in the market:
- More homes will be available for sale.
- Foreclosure rates might go up.
- Sales numbers could change from month to month.
- The rental market might get a bit easier.
Investors need to be ready for a changing scene. The St. George housing market is strong, showing chances for smart real estate investments.
Investment Opportunities and ROI Analysis
St. George’s residential sales market is full of great investment chances for smart home buyers. The local real estate scene has shown it can offer strong returns on investment. This is true for different types of properties.
Key insights for St. George show a big increase in inventory:
- 2 bedroom homes: Inventory increase of 32.4%
- 3 bedroom homes: Inventory increase of 41.9%
- 4 bedroom homes: Inventory increase of 58.1%
Investors can find several promising market segments:
- Short-term rental properties
- Multi-family residential units
- Single-family home investments
“St. George offers a unique blend of market stability and growth for real estate investors.” – Local Real Estate Expert
The current market shows strong investment chances. The median home price is $360,000, up 8% from last year. The average days on market have dropped by 10% to 34 days. This shows the market is dynamic and efficient.
Utah’s rental property environment is flexible. The state doesn’t have statewide rent control. This lets property owners set rental rates based on market demand.
The U.S. real estate market is expected to grow to $731 billion by 2028. This is a 34% annual growth. St. George’s steady population growth and economic diversity make it a great place for real estate investments.
Conclusion
The Utah housing market in St. George shows strength and good chances for smart real estate moves. Our study found that home sales hit $95 million in August 2024, up a bit from $92 million the year before. The median home price was $529,000, a 3% drop from July, showing a balanced market.
St. George’s real estate scene is full of interesting trends. The time homes spend on the market went up to 45 days. This means buyers and sellers are taking a more careful approach. The sales to list price ratio fell from 98% to 95%, opening up room for negotiations. These changes highlight the need to know the local market well before making a move.
The economic signs are good for St. George’s real estate. The area is growing fast, with a 2.7% population increase and more jobs. The low vacancy rate of 1.6% and the need for 6,075 new homes in three years look bright for the future.
Smart buyers and investors can use this knowledge to make better choices. By diving into the details of St. George’s housing market, they can find great opportunities in Utah’s real estate.
For more details, visit: https://oaksrealestateteam.com/property-evaluation/