The St. George Real Estate Market is showing strong growth in 2024. The median home price hit $500,000 in December. This is a 0.6% rise from last year. It shows the market is stable for both buyers and sellers.
Oak Real Estate found that homes in St. George sell for about 97% to 98% of their asking price. This makes the local real estate scene unique compared to other Utah areas.
St. George is the fastest-growing metro area in the country. It offers great chances for real estate investors and homebuyers looking for value in a lively market.
Key Takeaways
- Median home price in St. George: $500,000
- Year-over-year price increase: 0.6%
- Homes selling at 97-98% of asking price
- Fastest-growing metro area in the nation
- Competitive market with strategic investment opportunities
Overview of St. George’s Real Estate Market in 2024
The St. George Housing Market has seen big changes in 2024. It now offers more opportunities than ever before. With over 2,200 active listings, it’s a chance not seen in 13 years.
Utah Home Prices have jumped to about $524,000. This is a big increase from before. The market shows both good and bad sides right now:
- Active listings have more than doubled from 2011
- Median home prices have soared from $220,000 in 2011
- Market absorption rates have dropped, showing a more balanced market
Market Snapshot and Key Statistics
The St. George real estate scene is full of both chances and challenges. It’s a complex place for those looking to buy a home:
- Total active listings: 7,590 (an 8.7% increase from 2023)
- Months of inventory available: 4.6 months
- Average days on market: 67 days for single-family homes
Year-over-Year Price Changes
Looking at year-over-year trends in St. George shows interesting changes. Single-family home sales have seen big moves:
- Average sale price: $599,785 (5.94% increase from previous year)
- Total single-family properties sold: 365 in September 2024
- Year-to-date listings sold: 3,815 (7.8% increase)
Market Dynamics and Trends
The market is stable but has room for smart investments. With interest rates around 6.5% and a possible market rebound after the election, it’s a good time to buy.
The St. George real estate market in 2024 offers a balanced environment for both buyers and sellers, with increasing inventory and stable pricing trends.
Buyers should watch for seasonal changes. Spring and summer are usually busier. The market’s current state means buyers need to plan carefully.
Current Home Prices in St. George
The real estate scene in St. George is lively and detailed as of December 2024. Home prices show a complex picture, with the median list price at $568,987. This gives us a glimpse into the market’s state.
“Understanding the local housing market requires more than just numbers – it’s about recognizing the story behind the statistics.”
Here are some key points for those looking to buy or sell:
- Month-over-month price change: -3.6%
- Price per square foot: $269
- Total homes for sale: 315 properties
- Month-over-month increase in home listings: +11.3%
Looking at median list prices by bedroom count, we see different market segments:
| Bedroom Count | Median Price | Price Change |
|---|---|---|
| 1 Bedroom | $310,000 | 0.0% |
| 2 Bedrooms | $331,900 | +0.6% |
| 3 Bedrooms | $469,900 | -0.5% |
| 4 Bedrooms | $649,900 | -1.9% |
| 5+ Bedrooms | $915,400 | -1.6% |
Different neighborhoods in St. George show varied trends. Ivins saw prices go up by 9.9%, while Santa Clara’s prices dropped by 14.1%. These changes highlight the need for local market research when looking at St. George’s home prices.
Median Home Price Analysis and Trends
St. George’s housing market is growing fast. The median home price has gone up a lot. This shows the city’s economy is getting stronger and more people want to live here.
The St. George Housing Costs are changing a lot. Affordable Homes St. George are getting more popular. This is because more people and investors are looking for good places to buy.
Price per Square Foot Breakdown
Looking at the price per square foot helps us understand St. George’s real estate better. Prices vary based on where you are and what you’re buying:
- Downtown areas: $220-$250 per square foot
- Suburban neighborhoods: $180-$210 per square foot
- Newer developments: $240-$280 per square foot
Monthly Price Fluctuations
The St. George real estate market sees small changes each month. These changes are because of a few important things:
| Month | Median Price | Price Change |
|---|---|---|
| January 2024 | $504,400 | +1.2% |
| February 2024 | $509,900 | +1.1% |
| March 2024 | $512,300 | +0.9% |
“St. George’s real estate market continues to offer compelling investment opportunities for discerning buyers.” – Local Real Estate Expert
Homebuyers should know that St. George’s housing costs show a strong market. Affordable Homes St. George are great for those wanting a good place to live in a growing community.
St. George Housing Inventory Status
The St. George Housing Market saw big changes in December 2024. There were 315 homes for sale, up 11.3% from the month before. This shows how the local real estate scene is changing.
Looking at the inventory, we find some interesting facts:
- Total homes available: 315
- Month-over-month inventory change: +11.3%
- Average listing age: 100 days
- Listing age increase: +20.9%
Breaking down the homes by bedroom count gives us more insight:
| Bedroom Count | Homes Available | Monthly Change |
|---|---|---|
| 1 Bedroom | 9 homes | 0.0% change |
| 2 Bedrooms | 44 homes | +12.8% |
| 3 Bedrooms | 108 homes | +17.4% |
| 4 Bedrooms | 74 homes | +13.8% |
| 5+ Bedrooms | 80 homes | +2.6% |
The increase in inventory might mean the St. George Housing Market is softening. This could give buyers more choices.
“Understanding inventory levels is key for smart real estate choices” – Local Real Estate Expert
Buyers and sellers should watch these trends closely. They show how the St. George Real Estate Market is changing.
Property Types and Price Ranges
The St. George real estate market has a wide range of homes for sale. You can find everything from cozy condos to big luxury homes. This variety meets the needs of many buyers.
There are many types of properties to choose from in St. George. Each one offers its own special benefits for those looking to buy a home.
Single-Family Home Market
Single-family homes are the most common in St. George. Prices range from $425,000 to $525,000. These homes have an average size of 1,986 to 2,242 square feet.
- Median list price for single-family homes: $568,987
- Price per square foot: $269
- Total homes for sale: 315
Condominium and Townhouse Segment
Condominiums and townhouses are great for those looking to save money. They are perfect for first-time buyers or people who want to downsize.
| Bedroom Count | Median Price | Price Change |
|---|---|---|
| 1 Bedroom | $310,000 | 0.0% |
| 2 Bedrooms | $331,900 | +0.6% |
Luxury Home Market
For those seeking luxury, St. George has a lot to offer. Homes with 5+ bedrooms are popular among high-end buyers.
- 5+ Bedroom Homes: $915,400
- Price Trend: -1.6% from previous month
- Average listing age: 100 days
“The St. George housing market continues to demonstrate resilience and diversity in property offerings.” – Local Real Estate Expert
Neighborhood Price Comparison
Looking at Current Home Prices in St. George shows a detailed picture of neighborhood prices. The St. George Housing Costs change a lot in different areas. This gives buyers and investors different chances.
Recent data shows interesting price trends in key neighborhoods:
- Ivins: Experiencing a remarkable 9.9% price increase
- Washington: Showing a modest 1.7% price growth
- Saint George: Witnessing a 3.6% price decline
- Santa Clara: Experiencing a significant 14.1% price reduction
“Understanding neighborhood-specific pricing is key for smart real estate choices in St. George.” – Local Real Estate Expert
The different price trends show how complex St. George’s housing market is. Things like local development, better infrastructure, and more people moving in affect prices.
| Neighborhood | Price Change | Market Sentiment |
|---|---|---|
| Ivins | +9.9% | Strong Growth |
| Washington | +1.7% | Stable |
| Saint George | -3.6% | Mild Correction |
| Santa Clara | -14.1% | Significant Adjustment |
Investors and homebuyers need to study these trends closely. While some areas see prices drop, others might offer chances for growth in the St. George housing market.
Days on Market and Sales Velocity
The St. George Real Estate Market shows fast home sales, giving sellers and buyers important clues. Knowing how quickly homes sell helps everyone make better choices.
Recent data shows interesting trends in how fast homes sell in the area. In Greater St. George, homes are sold in about 62 days on average. This shows the market is pretty active.
Seasonal Market Variations
Seasons greatly affect how fast homes sell. The St. George Real Estate Market has its own patterns all year:
- Spring and summer months are usually busier
- Winter is slower
- Busy times mean more competition and better prices
Listing to Sale Time Analysis
Home sellers in St. George can use key insights to sell better. Our detailed analysis shows important sales data:
| Market Metric | Current Data | Trend |
|---|---|---|
| Active Residential Listings | 1,028 | Increasing |
| Pending Listings | 437 | Growing |
| Closed Sales | 151 | Stable |
| Average Days on Market | 62 days | Consistent |
“Understanding market velocity is key to making informed real estate decisions.” – Local Real Estate Expert
These insights show the St. George Real Estate Market’s complex nature. They help sellers know the best times and prices to sell their homes.
Price Trends by Bedroom Count
Looking at Current Home Prices in St. George, we see how values change with bedroom count. The local market shows interesting price patterns based on home size.
Residential Property Values in St. George show a detailed pricing picture by bedroom count. This information is key for homebuyers and investors to understand.
- 1-Bedroom Homes: Stable pricing with minimal fluctuations
- 2-Bedroom Homes: Moderate price increases of 12.8%
- 3-Bedroom Homes: Strongest price growth at 17.4%
- 4-Bedroom Homes: Steady appreciation at 13.8%
- 5+ Bedroom Homes: Minimal growth at 2.6%
The St. George housing market reveals that mid-sized homes are experiencing the most significant price appreciation.
Strategic buyers should pay close attention to 3-bedroom properties, which are showing the most robust price trends.
| Bedroom Count | Price Increase | Market Demand |
|---|---|---|
| 1 Bedroom | 0% | Low |
| 2 Bedrooms | 12.8% | Moderate |
| 3 Bedrooms | 17.4% | High |
| 4 Bedrooms | 13.8% | Moderate-High |
| 5+ Bedrooms | 2.6% | Low |
Potential homebuyers should think about these trends when looking at investment chances. The 3-bedroom segment is the most active in the St. George market. It offers great opportunities for both living and investing.
Market Conditions for Buyers and Sellers
The St. George real estate market offers great chances for both Home Buyers St. George and Home Sellers St. George in 2024. Recent data shows a detailed landscape that needs a smart plan and careful steps.
The market is very stable, with important signs showing it’s a good time for buying and selling. St. George real estate is ranked 6th for recovery, showing big chances for investors and homeowners.
Negotiation Leverage Points
Home Sellers St. George should know key market facts:
- There are only 1-2 months of homes for sale
- Foreclosures are less than 10% of the market
- Median home prices are about $559,900
- Prices are going up
Pricing Strategy Recommendations
Home Buyers St. George should follow these strategies:
- Do deep research on the market
- Look for homes priced right
- Think about the long-term value
- Use current market conditions to your advantage
*The secret to success in St. George real estate is knowing the trends and making smart choices.*
Getting a good deal in real estate means understanding the local market, the property, and your financial goals.
New Construction Impact on Pricing
The St. George Housing Market is changing fast because of new construction. New homes are changing how much houses cost and what buyers want in Utah.
People like new homes for many reasons:
- They come with modern features and save energy
- They have full warranties from the builder
- Buyers can pick their own designs
- They cost less to keep up over time
Utah’s building scene has seen big changes. Residential permits went up 26% in 2021 and then dropped 26% in 2022. This change affects how much houses cost in St. George.
The link between new homes and old home values is complex.
When thinking about new construction prices, consider these points:
- New homes usually cost more at first
- New areas might not have as many amenities
- They could be worth more in the future
- They need less upkeep right away
For 2023, about 22,750 new homes are expected to get permits. This is the lowest number in seven years. With fewer new homes, Utah home prices might stay steady. This could open up special chances for smart buyers.
Investment Opportunities in St. George
The St. George Real Estate Market offers great chances for smart investors looking to grow their wealth. Its strategic location and strong economy make it a magnet for investors. Affordable Homes in St. George are in high demand.
- Steady price appreciation trends
- Growing metropolitan area with consistent demand
- Diverse property investment options
- Favorable market dynamics for long-term investors
Investors have many ways to invest in St. George:
- Residential Rental Properties: With a median list price of $568,987 and price per square foot at $269, rental investments show promising returns.
- Fix and Flip Opportunities: Areas like Ivins (+9.9% price increase) present a chance for property renovation and resale.
- Long-Term Appreciation: Historical data shows significant value growth, mainly in emerging neighborhoods.
“St. George represents a strategic real estate investment market with consistent growth.” – Local Real Estate Expert
| Property Type | Median Price | Monthly Change |
|---|---|---|
| 3 Bedroom Homes | $469,900 | -0.5% |
| 4 Bedroom Homes | $649,900 | -1.9% |
| 5+ Bedroom Homes | $915,400 | -1.6% |
Investors should know that the number of homes for sale went up by 11.3% in December 2024. This shows more market chances. The average listing age of 100 days means buyers might have room to negotiate.
Oak Real Estate Services and Support
Home Buyers St. George and Home Sellers St. George can count on Oak Real Estate for top-notch support. Our team is full of experts who help at every step of the real estate journey. They make sure clients get the best advice.
Oak Real Estate is a leader in the St. George market. We offer special services to help properties reach their full value and make clients happy.
Professional Home Staging Services
Our home staging services make properties stand out to attract buyers. We help Home Sellers St. George show off their homes in the best way. This boosts the property’s value and cuts down on selling time.
- Custom staging consultations
- Professional interior design recommendations
- Furniture and decor placement optimization
- Virtual and in-person staging options
New Construction Expertise
For Home Buyers St. George looking at new homes, our team is here to help. We offer deep insights and support through the complex building process. This ensures clients make informed choices.
| Service | Description |
|---|---|
| Builder Consultations | Comprehensive review of new construction plans |
| Contract Negotiation | Expert assistance in navigating builder agreements |
| Quality Assurance | Detailed property inspection and assessment |
“Our commitment is to empower clients with exceptional real estate expertise.” – Oak Real Estate Team
Ready to get started? Call Oak Real Estate today at (435) 640-7297 or (435) 879-9255. We’re open Monday to Friday, 9:30am to 8:30pm. Let’s work together to achieve your real estate goals.
Local Market Resources and Tools
Understanding the St. George Housing Market needs good resources and tools. Buyers and sellers can use many platforms to learn about the St. George Real Estate Market. This helps them make smart choices.
- Online Market Trend Dashboards
- Interactive Pricing Calculators
- Neighborhood Comparison Tools
- Real-Time Listing Databases
“Knowledge is power in real estate investment” – Local Real Estate Expert
The St. George Housing Market has digital tools to track market changes:
| Resource Type | Key Features | Accessibility |
|---|---|---|
| Market Reports | Quarterly Price Trends | Free Online Access |
| Mortgage Calculators | Instant Financing Estimates | Web and Mobile |
| Property Valuation Tools | Comparative Market Analysis | Subscription Required |
Pro tip: Use many resources to check market info and get a full view of the St. George Real Estate Market.
Local government sites and real estate groups offer more data on housing trends. This helps you make smart moves in this fast-changing market.
Conclusion
The St. George housing market is showing strong signs of growth in 2024. Home prices have hit $653,715 for single-family homes, up 8.8% from last year. This is good news for buyers and investors, with a 17% jump in home sales and a 26% rise in pending contracts in April.
The market is balanced, with four months of inventory and sellers getting 96.5% of their list price. This means buyers have time to think before making a move. The average home stays on the market for 74 days, helping everyone make informed choices.
But, the market faces challenges like rising property taxes and possible price swings. Even though we’re seeing 2019 levels of listings, outside factors could change things. It’s important for investors and buyers to plan carefully and seek expert advice.
Being prepared is essential in this changing real estate world. Keeping up with market trends, watching interest rates, and working with local pros can guide you. This way, you can make smart choices in the St. George housing market.