The St. George real estate market is showing strong growth in December 2024. Oak Real Estate has done a deep dive into Utah’s housing market. They found small but important changes in property values and trends.
St. George’s median list price is $568,987. This shows a market that’s not too hot or too cold. The median list prices dropped by -3.6% from November to December. This change is due to many economic factors affecting the local market.
For those looking to invest or buy a home, the St. George Real Estate Market Analysis is very helpful. It breaks down how property values change in different areas and for different types of homes.
Key Takeaways
- Median list price in St. George stands at $568,987
- Median price per square foot: $269
- Month-over-month price decrease: -3.6%
- Total homes for sale in December 2024: 315
- Month-over-month inventory increase: 11.3%
Current Market Overview and Price Trends
The St. George real estate market is booming, with Property Value Appreciation on the rise. This growth is fueled by Washington County’s rapid expansion. It’s now the fastest-growing metro area in the nation, affecting St. George Home Prices.
Recent market analysis offers valuable insights into the local housing scene:
- Homes sell quickly, often with multiple offers
- Seller prices usually reach 97-98% of the asking price
- The average time a home stays on the market is 60-61 days
Median Sale Price Statistics
The median home prices in St. George show a complex market. Prices are influenced by regional growth and demand for housing.
| Price Range | Market Segment | Availability |
|---|---|---|
| Under $300,000 | Affordable Housing | Limited Supply |
| $300,000-$400,000 | Mid-Range Homes | Growing Inventory |
| Over $400,000 | Luxury Properties | Steady Demand |
Year-over-Year Price Changes
St. George’s real estate market shows consistent appreciation. Property values keep rising, thanks to population growth and economic factors.
“St. George represents a resilient real estate market with promising long-term investment opportunities.” – Local Real Estate Analyst
Market Activity Indicators
The current market indicators suggest a balanced environment. With about 3-4 months of housing inventory, St. George offers a competitive yet accessible real estate market.
- New construction makes up over 35% of available homes
- Washington County expects its population to double by 2060
- Infrastructure development supports market growth
St. George Real Estate Market Analysis: Key Findings 2024
The St. George Real Estate Market Analysis shows important insights for buyers and investors in 2024. It looks at the local property scene and finds big changes. These changes are shaping the future of the real estate market.
- Average single-family home sale price reached $599,785, a 5.94% increase from last year
- Total single-family property sales hit 365 in September 2024
- Year-to-date total listings sold: 3,815, a 7.8% growth
“The St. George real estate market continues to showcase resilience and has great investment opportunities,” said local market analysts.
Market dynamics show detailed trends:
| Metric | September 2024 Data | Year-over-Year Change |
|---|---|---|
| New Listings | 697 | +5% |
| Pending Contracts | 446 | +12.3% |
| Active Listings | 1,895 | +16.5% |
The Real Estate Market Forecast is cautiously optimistic. Homes are competitive, with sellers getting 96% of their asking price. The average time to sell a single-family home is now 67 days. This shows a balanced market.
Property Inventory and Availability
The St. George real estate market is changing fast. This change offers new chances for buyers and sellers. It’s important to watch these changes in Washington County.
Affordable Housing Options are changing too. It’s key for homebuyers and investors to understand these changes. This helps them move through the local real estate world.
Housing Supply by Bedroom Count
Washington County’s housing supply varies by property size:
- 1 Bedroom: 23 properties stable
- 2 Bedrooms: 73 to 81 properties (+11.0% increase)
- 3 Bedrooms: 214 to 257 properties (+20.1% growth)
- 4 Bedrooms: 194 to 225 properties (+16.0% expansion)
- 5+ Bedrooms: 180 to 191 properties (+6.1% rise)
Monthly Inventory Changes
| Month | Total Homes | Change |
|---|---|---|
| November 2024 | 684 | Baseline |
| December 2024 | 777 | +13.6% Increase |
New Listings Impact
The market saw a big jump in new listings. The average time a listing stays on the market went from 92 to 108 days. This shows a possible slowdown in the fast sales seen earlier in the year.
The St. George real estate market offers many chances for homebuyers. They can find different property sizes and investment opportunities.
Investors and homebuyers need to keep an eye on these changes. They show how Utah Housing Trends and Affordable Housing Options are evolving in the area.
Market Days on Market Analysis
The St. George Real Estate Market Analysis offers deep insights into the property market. In December 2024, homes in Saint George had an average listing age of 100 days. This is a 20.9% increase from the month before. This change is important for both buyers and sellers in the local real estate scene.
Key observations in the St. George Real Estate Market Analysis highlight the changing market velocity:
- Average Days on Market (DOM) for 2023: 77 days
- Expected competitive marketing time: 9-10 weeks
- Average time for homes to go pending: Approximately 25 days
Market performance indicators suggest nuanced trends in property transactions. The longer listing period may point to several factors:
- Potential price adjustments
- Increased buyer selectivity
- Evolving market conditions
“Understanding market velocity is key to making informed real estate decisions in St. George.”
The St. George Real Estate Market Analysis shows homes are taking longer to sell. The average listing age is now 100 days. This longer time on market could mean a cooling trend or a need for better pricing and marketing strategies.
Price Distribution Across Different Home Types
St. George’s home prices show a complex and changing real estate scene. This offers many chances for buyers and investors. Knowing how prices vary by property type helps understand the local market.
The St. George real estate market has unique price patterns for different homes. Buyers and investors can use these trends to make smart choices.
Single-Family Home Pricing
Single-family homes are a big part of St. George’s real estate. With a median price of $338,752, they offer great value compared to the national median of $318,879.
- Median price for 3-bedroom homes: Approximately $325,000
- 4-bedroom homes range: $375,000 – $450,000
- Luxury single-family homes: $500,000+
Condo and Townhouse Market
Condos and townhouses are great for first-time buyers and investors. They offer a more affordable way into St. George’s real estate market.
- Average condo price: $250,000 – $300,000
- Townhouse price range: $275,000 – $375,000
- Popular neighborhoods: Little Valley, Washington Fields
Luxury Property Segment
Luxury home sales in St. George are strong and consistent. Exclusive areas like Entrada and Stone Cliff have high-end homes that appeal to select buyers.
“The luxury real estate market in St. George continues to show strong performance, with unique properties commanding premium prices.” – Local Real Estate Expert
Key luxury market insights include:
- Entrada luxury homes: $750,000 – $1.5 million
- Stone Cliff exclusive properties: $600,000 – $1.2 million
- High-end amenities driving value appreciation
Neighborhood Price Comparisons
Exploring the St. George Real Estate Market Analysis offers interesting views on neighborhood prices. Each area has its own traits that affect home values and investment chances.
Our detailed Neighborhood Statistics reveal big differences in median home prices. These insights help investors and buyers make smart choices.
| Neighborhood | Median Home Price | Price/Sqft | Walk Score |
|---|---|---|---|
| Paradise Canyon | $675,362 | $306 | 25 |
| Sun River St. George | $634,761 | $311 | 7 |
| South Pointe | $500,320 | $257 | 34 |
| Green Valley | $500,320 | $247 | 29 |
Our St. George Real Estate Market Analysis highlights several key points:
- Price Range Diversity: Median home prices vary from $139,945 to $675,362
- Prices change a lot in short distances
- What a neighborhood offers affects home values
“Location is everything in real estate, and St. George’s diverse neighborhoods prove this axiom perfectly.” – Local Real Estate Expert
When looking at neighborhoods, consider more than just the price. Think about walkability, how crowded it is, and local services too.
Investment Property Opportunities in St. George
St. George is a great place for real estate investors looking for good deals in Utah. The area’s strong economy and good location make it a top choice for those who want to invest wisely.
- Low vacancy rates because of growing population
- Good tax environment with no state capital gains tax
- Diverse economy that supports housing needs
Rental Market Analysis
The St. George rental market is very strong. It stands out from national trends, making it a great place to invest. Rental income can bring in up to 10% of the property’s value.
| Investment Metric | Potential Return |
|---|---|
| Average Property Appreciation | 6.4% |
| Ideal Rental Income Threshold | 10% of Property Value |
| Local Rental Demand Drivers | University, Healthcare, Tourism |
Return on Investment (ROI) Analysis
A Real Estate Market Forecast for St. George shows great investment chances. For example, a $250,000 rental property with a 20% down payment could make a lot of money through appreciation and rental income.
“St. George offers investors a unique combination of steady growth, attractive tax policies, and diversified economic opportunities.” – Local Real Estate Expert
Investors should think about local amenities, being close to Zion National Park, and the city’s growing job market. These factors are important when looking at investment properties.
New Construction and Development Projects
St. George’s real estate is changing fast with new projects. Utah Housing Trends show the city’s growth, with Washington County adding 22,000 people. This growth is driving the demand for homes.
New construction offers affordable housing options. These projects use energy-saving tech and modern designs. They meet the city’s housing needs.
“St. George’s new developments are not just buildings, but community solutions designed to meet growing residential needs.”
- Energy-efficient home designs reducing utility costs
- Customizable floor plans for diverse buyer preferences
- Warranty protections for new home purchases
- Sustainable building practices
New homes in St. George are great for long-term investment. The city’s sunny weather adds to their appeal. It makes living here even more attractive.
| Development Characteristics | Market Impact |
|---|---|
| Population Growth | 22,000 increase in 10 years |
| Rental Vacancy Rate | Less than 1% |
| Average New Home Features | Energy-efficient technologies |
Investors and first-time buyers love St. George’s new homes. With low interest rates and a strong economy, these projects are big opportunities. They offer growth in both residential and investment areas.
Mortgage Rate Impact on Local Market
The St. George Real Estate Market Analysis shows how mortgage rates change the local property scene. Today’s economy is making it a bit tricky for homebuyers and investors. They’re looking for good deals in this lively market.
Mortgage rates are key in deciding how much buyers can afford and the market’s pace. As of August 2024, important mortgage rate numbers show big market effects:
- Conventional loan rates around 6% for top buyers
- FHA loan rates between 5.625% and 5.75%
- Median sales price now at $470,000, down from $500,000 in July
Current Interest Rate Trends
The Mortgage Rates Impact on St. George’s real estate is complex. Recent data shows a slight cooling, with sales to list price ratio dropping from 98% to 95% in August 2024. This change means buyers have more power to negotiate and find good deals.
“Understanding mortgage rate changes is key for smart real estate choices in today’s market.” – Local Real Estate Expert
Buyer Purchasing Power
Rising interest rates are changing how buyers act and plan. The median days on market now is 45 days, up from 33 days in July. This shows a more balanced market. Buyers are now more careful, looking at their financing and long-term plans.
| Mortgage Rate Category | Rate Range | Market Impact |
|---|---|---|
| Conventional Loans | Approximately 6% | Moderate buying pressure |
| FHA Loans | 5.625% – 5.75% | Increased affordability for first-time buyers |
Investors and homebuyers need to stay flexible in this changing St. George Real Estate Market Analysis scene. By carefully looking at mortgage rates and timing, they can find great chances in this lively market.
Seasonal Market Variations and Trends
The St. George real estate market shows unique seasonal traits that greatly affect Utah Housing Trends. Nature lovers and seasonal residents are key in shaping the local property scene all year.
Seasonal changes in St. George show interesting patterns for buyers and investors. In winter, the population can grow by up to 20,000, mainly due to people seeking warmer places.
“St. George’s real estate market is as dynamic as its landscape, with seasonal shifts creating unique investment opportunities.”
Key Seasonal Market Insights
- Winter brings an influx of snowbird residents, increasing housing demand
- Summer months see higher tourist-driven real estate activity
- Proximity to national parks influences seasonal property trends
The St. George Real Estate Market Analysis reveals some seasonal stats:
| Season | Average Home Sales | Median Price |
|---|---|---|
| Winter | 416 pending contracts | $581,920 |
| Summer | 688 new listings | $617,301 |
Investors and homebuyers should keep these seasonal changes in mind when dealing with the St. George real estate market. Knowing these patterns can help in making smart buying or selling decisions.
Oak Real Estate Services and Expertise
Oak Real Estate is a top choice for real estate services in St. George. Our team has deep local market knowledge and professional skills. We help clients at every step of their real estate journey.
Professional Home Staging Strategies
Home staging is key in our St. George Real Estate Market Analysis. Our team makes properties look their best to sell for more. We arrange furniture and decor to draw in buyers.
- Personalized staging consultations
- Expert furniture placement recommendations
- Color and design optimization
- Professional photoshoot preparation
New Construction Support Services
Oak Real Estate helps with new construction in St. George. Our experts support you from start to finish.
| Service Category | Detailed Support |
|---|---|
| Land Selection | Market analysis and optimal location identification |
| Builder Recommendations | Vetted local construction professionals |
| Project Management | Comprehensive oversight and coordination |
We focus on building strong relationships with our clients in St. George.
“Your trusted partner in transforming real estate dreams into reality” – Oak Real Estate Team
For personalized help, contact Oak Real Estate:
- Phone: (435) 640-7297 | (435) 879-9255
- Hours: Monday to Friday, 9:30am – 8:30pm
Future Market Projections and Forecasts
The St. George real estate market is at a key moment. Future projections show promising opportunities for Property Value Appreciation. Current data points to an interesting path for local housing.
Important insights for the Real Estate Market Forecast include several key factors:
- Home prices expected to increase by 3-4% annually
- Inventory levels stabilizing around 9 months of available properties
- Mortgage rates potentially settling in mid-to-low 6% range by 2025
“The St. George market continues to demonstrate resilience and has great investment opportunities,” noted local real estate analysts.
Investment chances are looking good. The local market shows a possible gap between supply and demand. This could push property values up. Investors should watch neighborhood developments and economic signs closely.
| Market Indicator | Projected Trend |
|---|---|
| Home Price Growth | 3-4% Annual Increase |
| Mortgage Rates | Mid-to-Low 6% Range |
| Inventory Levels | Stabilizing at 9 Months |
Strategic buyers and investors should see these projections as guidelines. Remember, real estate markets change and react to the economy.
Conclusion
The St. George Real Estate Market Analysis shows a lively and strong scene in Southern Utah. Homebuyers and investors will see a market full of stability, beauty, and big chances. Places like St. George, Hurricane, and Washington offer special real estate chances that show the area’s strong economy and great lifestyle.
Utah Housing Trends show Southern Utah is drawing in many kinds of buyers. This includes retirees wanting beautiful views and professionals looking for good deals. The local market is competitive, with many things affecting home prices. These include a strong local economy, a good job market, and the area’s high quality of life.
Understanding this complex real estate world needs smart insights and expert help. Oak Real Estate suggests teaming up with agents who know Southern Utah’s property market well. By keeping up with trends, buyers can make smart choices that fit their money goals and lifestyle.
In the end, Southern Utah’s real estate market is full of promise for investment and owning a home. With good research, planning, and expert advice, people can find and take advantage of the many chances in this growing area.