The Utah Real Estate Market in St. George is showing great strength and promise in 2024. With a population of 104,578 and a median house value of $564,275, this market is full of opportunities. It’s perfect for homeowners and investors looking for growth.
St. George’s Property Value Trends show a detailed picture of the real estate scene. In December 2024, home prices saw a small 0.6% rise, settling at a median of $500,000. This slight increase shows the market’s ability to adjust to economic changes.
Oak Real Estate offers deep insights into the Utah Real Estate Market. They highlight St. George’s solid foundation. With 68.61% of homes being single-family and 48.22% built after 2000, St. George is a modern and growing real estate area.
Key Takeaways
- Median home value stands at $564,275
- 68.61% of properties are single-family homes
- 48.22% of housing constructed after 2000
- Home prices increased 0.6% in December 2024
- Strong chance for real estate investment
Current Market Overview in St. George
The St. George real estate market is growing strong. Housing prices in St. George keep going up, showing a healthy market. People are drawn to the area because of its lively market.
Home values in St. George have really gone up. This shows the area’s great future. It’s ranked as one of the top places for real estate recovery in the U.S.
Latest Median Sale Prices
Recent numbers show the local market is doing well. Home prices are rising because of high demand and not enough homes for sale.
| Year | Median Home Price | Appreciation Rate |
|---|---|---|
| 2012 | $225,000 | 7.2% |
| 2023 | $415,000 | 12.5% |
Year-over-Year Market Changes
- Sales volumes have consistently increased from 2009
- Foreclosures have dropped by over 75% from before
- Active foreclosures are now under 60 properties
Average Days on Market Statistics
The market is moving fast:
- Homes sell in 54 days on average
- This is down from 58 days last year
- 82 homes sold in December, up from 56 the year before
“St. George’s real estate market continues to showcase remarkable resilience and growth.” – Local Real Estate Expert
The market’s path shows it will keep getting stronger. It’s a great place for both buyers and investors looking for exciting real estate chances.
St. George Property Value Trends: 2024 Analysis
The Residential Property Appreciation in St. George is showing interesting trends in 2024. With a median list price of $568,987, the market offers great chances for investors and buyers.
St. George’s property market shows different trends in various segments:
- Median price per square foot stands at $269
- Modest price adjustments across bedroom configurations
- Increased inventory levels signaling market shifts
Looking closer at property appreciation, we see interesting differences:
| Bedroom Count | Median Price | Monthly 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% |
Market indicators suggest a stabilizing trend in St. George’s residential property appreciation. The current inventory of 315 homes is up 11.3% from last month. This gives buyers more choices.
“The St. George real estate market continues to demonstrate resilience, with strategic opportunities for discerning investors,” says local real estate expert.
Residential Property Appreciation in St. George is influenced by many factors. These include population growth, job market expansion, and lifestyle attractions. Buyers can look forward to a balanced market with steady value growth.
Housing Inventory Status and Growth
The St. George housing market is seeing big changes in what’s available. Recent numbers show a clear story about the housing supply in the area. This has big effects for those looking to buy or invest.
The forecast for St. George’s housing market shows big changes in what’s for sale. In December 2024, there were 315 homes up for sale. This is an 11.3% jump from the month before.
Single-Family Home Availability
Single-family homes show interesting trends:
- More than 35% of homes for sale are new builds
- Prices range from $300,000 to $400,000
- Homes usually sell for 97-98% of the asking price
Multi-Family Property Statistics
| Property Type | Inventory | Average Price |
|---|---|---|
| Apartments | 68 | $275,000 |
| Duplexes | 42 | $325,000 |
| Townhomes | 55 | $295,000 |
New Construction Impact
New homes are changing the St. George Housing Forecast. Builders are making homes to help with affordability. They focus on prices between $300,000 and $400,000.
The housing market keeps evolving, thanks to growing populations and smart development plans.
Washington County expects a big increase in people, aiming for about 464,000 by 2060. This growth will surely change the housing market and what’s available.
Price Fluctuations by Property Type
The St. George housing market shows interesting price changes in December 2024. These changes are important for both buyers and sellers to know.
Recent data shows price changes by bedroom count:
- 1-bedroom homes: No price change
- 2-bedroom homes: Modest increase of 0.6%
- 3-bedroom homes: Slight decrease of 0.5%
- 4-bedroom homes: Significant drop of 1.9%
- 5+ bedroom homes: Decline of 1.6%
Housing Prices St. George show a complex market. Smaller homes stay stable, while bigger homes see bigger price changes. This might mean buyers are looking for different things and the local economy is changing.
“Understanding these nuanced price fluctuations is key for smart real estate choices in St. George’s changing market.”
Many things affect these price changes. These include changes in who lives here, the local economy, and what people want in a home. Investors and homeowners need to watch these small but important market signs.
In December 2024, the median sold price for homes in St. George was $250,000. This is a big drop of $45,000 or 15.3% from the month before. This big change shows how vital it is to keep up with the market.
Neighborhood-Specific Market Performance
The St. George Property Value Trends show a lively Utah Real Estate Market. This market changes a lot in different neighborhoods. Each area has its own special chances and challenges for buyers and investors.
To really get St. George’s real estate, you need to look at each neighborhood’s performance. The local market is very diverse. Property values and growth chances vary a lot.
Premium Areas Growth Rates
Some neighborhoods in St. George really stand out:
- Washington Fields: Shows healthy appreciation with steady value growth
- Little Valley: Grows strong thanks to more people moving in
- Bloomington Hills: Has good property values
Emerging Neighborhood Opportunities
There are exciting chances in certain areas:
- Median house price in St. George: $338,752
- Vacancy rates are lower than in similar cities
- Real estate has grown steadily over the last decade
“St. George’s neighborhood diversity creates unique investment landscapes for discerning real estate investors.”
The Utah Real Estate Market in St. George keeps showing strength. Neighborhood trends offer many chances for investors and homeowners.
Investment Property Opportunities in St. George
St. George is a great place for real estate investors looking for good market chances. The Investment Property St. George market has many options for growing wealth. It offers high rental returns and strong economic bases.
Key investment property segments in St. George include:
- Residential rental properties
- Vacation home investments
- Short-term rental units
- Commercial real estate ventures
Investors can use St. George’s special market features to get better returns. St. George’s low 4.5% vacancy rate shows strong rental demand. This makes it a great place to buy property.
“St. George represents a premier investment destination with consistent population growth and diversified economic drivers.”
Rental market insights show great chances for different property types:
| Property Type | Monthly Rental Range | Potential Annual Yield |
|---|---|---|
| 1-Bedroom Units | $350 – $625 | 6.5% – 8.2% |
| 2-Bedroom Units | $650 – $875 | 7.2% – 9.1% |
| 3-Bedroom Units | $850 – $1,375 | 7.8% – 10.5% |
| 4+ Bedroom Properties | $1,300 – $2,500 | 8.5% – 11.7% |
When investing in St. George, think about the location. Look for places near Dixie State University, healthcare, and tech areas. Also, St. George’s tax laws are good for investors, with no state capital gains tax.
Bedroom Count Analysis and Pricing
St. George home values show how bedroom counts affect prices. The local market has interesting trends for different home sizes. This gives insights for buyers and investors.
Recent data shows big price differences in St. George based on bedrooms. Prices vary based on home size and market demand.
Single to Three-Bedroom Home Trends
Smaller homes in St. George have interesting value trends:
- 1 Bedroom: Median price at $209,000
- 2 Bedrooms: Median price at $324,500
- 3 Bedrooms: Median price at $524,900
These prices show steady growth in smaller homes. They are great for first-time buyers and investors looking for good deals.
Luxury Home Market Statistics
The luxury homes in St. George have high prices for bigger homes:
- 4 Bedrooms: Median price at $700,000
- 5+ Bedrooms: Median price at $950,000
“The St. George real estate market offers diverse options for buyers across different budget ranges and home sizes.”
With 777 homes in Washington County in December 2024, buyers have many choices. Notably, 3-bedroom homes are the most common at 257 properties.
| Bedroom Count | Median Price | Market Share |
|---|---|---|
| 1 Bedroom | $209,000 | 3% |
| 2 Bedrooms | $324,500 | 10% |
| 3 Bedrooms | $524,900 | 33% |
| 4 Bedrooms | $700,000 | 29% |
| 5+ Bedrooms | $950,000 | 25% |
Investors and buyers should know the average home listing lasts 108 days. This shows St. George’s market is balanced and stable.
Market Recovery Indicators
The St. George real estate market shows strong signs of recovery. It’s a key player in the Utah Housing Market Analysis. Data shows the market is stabilizing and could grow.
Key recovery indicators highlight the market’s strength:
- St. George ranks 6th among markets poised for recovery nationwide
- Increasing home values signal positive market momentum
- Decreasing average days on market suggest heightened buyer interest
“The St. George real estate market is showing robust signs of recovery, with strategic indicators pointing toward sustained growth.” – Local Real Estate Expert
Looking closer at the Utah Housing Market Analysis, we see important metrics. They show the market’s resilience:
| Recovery Metric | Current Status |
|---|---|
| Median Home Price | Steady increase |
| Sales-to-List Price Ratio | Strong performance |
| Job Growth in Region | Approximately 39,000 new jobs |
The market’s recovery is not just a temporary trend but reflects deeper economic fundamentals driving real estate dynamics in St. George.
Investors and homebuyers can feel confident. These recovery indicators show a bright future for real estate in Utah.
Seasonal Market Variations
The St. George Housing Forecast shows how the real estate market in Southern Utah changes with the seasons. These changes affect when people buy and sell homes, creating chances for both sides.
Peak Selling Periods
St. George’s real estate market has its own patterns. Knowing these can help buyers and sellers. The best time to sell is usually late spring to early summer. This period is marked by:
- More homes sold in May and June
- Higher home prices
- Homes sell faster, taking about 77 days
“Understanding seasonal market dynamics can significantly impact your real estate strategy in Southern Utah.”
Off-Season Opportunities
Off-season months also have their own benefits in the St. George Housing Forecast. Winter months often mean:
- Less competition from buyers
- Chances to get homes for lower prices
- Motivated sellers open to better offers
The market is currently leaning slightly towards sellers, with a 4-month absorption rate. But, the changing seasons can open up chances for smart buyers and investors to make the most of these shifts.
New Development Impact on Property Values
The St. George real estate market is changing fast with new homes. These new developments are making neighborhoods better and increasing property values.
Recent data shows how new homes affect local property values:
- Homes near new apartment complexes saw median value increases of up to 10% annually
- Being close to multifamily housing means higher square foot values
- Improvements in infrastructure make neighborhoods more desirable
“New developments aren’t just building homes; they’re creating entire ecosystems that enhance community value,” says local real estate expert.
In St. George, new construction and property values are closely linked. The area has seen a lot of growth, with 28 homes in the recent Parade of Homes. Thirteen of these homes were over $1 million.
Investors and homeowners can use these insights to see how new homes boost property values in St. George. Choosing the right location near new areas and infrastructure can lead to big gains in the long run.
Mortgage Rate Influences on Local Market
The Utah Real Estate Market is always changing, with mortgage rates being a big factor. These rates help shape the St. George Housing Forecast. Knowing about these rates is key for those looking to buy or invest in property.
Current Interest Rate Landscape
St. George’s mortgage scene is showing some interesting trends. Rates have leveled off, opening up chances for homebuyers. Here are some important points:
- Mortgage rates are between 6.5% and 7.2%
- Those with great credit scores can get better rates
- Most buyers choose fixed-rate mortgages
Buyer Purchasing Power Analysis
The current mortgage rates really affect how much buyers can afford in St. George. Being financially ready is more important than ever for those looking to buy a home.
“Understanding mortgage rates is key to making smart real estate investments in St. George’s dynamic market.”
| Credit Score Range | Average Interest Rate | Purchasing Power Impact |
|---|---|---|
| 750-850 | 6.5% | Highest purchasing power |
| 700-749 | 6.8% | Strong purchasing ability |
| 650-699 | 7.2% | Moderate purchasing power |
Buyers should look at different ways to get the best mortgage. Getting quotes from different lenders, improving your credit score, and knowing the local market can really help. These steps can boost your buying power in St. George’s real estate market.
Comparative Market Analysis with Surrounding Areas
The St. George real estate market is interesting when compared to nearby cities. Our Utah Housing Market Analysis shows big differences in property values. Each area has its own market traits.
Key insights into the regional market performance include:
- Ivins shows strong growth with a 9.9% increase in median list prices
- Washington sees a small rise of 1.7%
- St. George sees a slight drop of 3.6%
- Santa Clara faces a big challenge with a 14.1% decrease
Local market changes show the bigger economic trends affecting Utah’s housing market. The different performances in these cities point to unique factors affecting real estate values.
| City | Median List Price Change |
|---|---|
| Ivins | +9.9% |
| Washington | +1.7% |
| St. George | -3.6% |
| Santa Clara | -14.1% |
“Real estate is hyper-local, and these variations demonstrate the importance of targeted market analysis.” – Local Real Estate Expert
Investors and homebuyers need to look closely at these local trends. While St. George sees a small market adjustment, other areas offer different chances in the Utah Housing Market Analysis.
Future Growth Projections
The St. George Housing Forecast shows exciting opportunities in real estate. To understand the market, we need to look at both short-term and long-term trends.
People interested in the Utah Housing Market Analysis see good signs for growth. Recent data points to several factors that could shape the local real estate scene.
Short-Term Market Forecast
Fannie Mae is optimistic about Utah’s housing market. They predict home prices will rise:
- 6.1% annual price increase expected in 2024
- 3% growth forecasted for 2025
- Inventory levels to jump by over 30%
Long-Term Value Predictions
The St. George housing market is showing strong resilience. Looking back, the area has seen big gains in value, similar to the 2004-2006 period.
| Market Period | Price Appreciation | Market Characteristic |
|---|---|---|
| 2004-2006 | 45-50% | Rapid Growth Phase |
| 2007-2011 | -41.4% | Market Correction |
| 2024-2025 | 3-6.1% | Steady Recovery |
“The St. George real estate market continues to demonstrate remarkable adaptability and growth.” – Local Real Estate Analyst
Several factors will shape future projections. These include population growth, economic diversification, and infrastructure development. While there are risks, the outlook is good for smart investors.
Oak Real Estate Services Overview
Oak Real Estate is a top choice for understanding St. George Property Value Trends in Southern Utah. They offer expert help in home staging and new construction. This support is for both buyers and sellers looking for smart market advice.
Our team knows the St. George Property Value Trends well. They give specific advice for different homes. Whether it’s a small $325,000 home or a big $2.69 million estate, Oak Real Estate has a plan for you.
Want to talk to Oak Real Estate? Call them at (435) 640-7297 or (435) 879-9255, Monday to Friday, 9:30am to 8:30pm. They don’t just help with buying or selling. They also offer market analysis, personalized service, and advice to help you make smart real estate choices in Utah.
Oak Real Estate serves St. George and nearby areas. They aim to make complex market trends easy to understand. Whether you’re looking at new homes, staging your property, or checking the market, Oak Real Estate is here to help.