The St. George real estate market is showing strong growth in 2024. Median home prices hit $500,000 in December. Homes are selling in just 54 days on average. This makes the market very appealing for buyers and investors.
Washington County’s population has grown by 22,000 people in the last decade. This growth has changed the housing market. With sectors like tourism, healthcare, and tech, St. George is a great place for real estate investment.
Investors and homebuyers see unique chances in this lively market. Low interest rates, steady growth, and limited homes make it a special time. It’s a great moment to explore St. George’s home buying trends.
Key Takeaways
- Median home prices in St. George reached $500,000 in December 2024
- Average time on market decreased to 54 days
- Population growth continues to drive housing demand
- Diverse economic sectors support real estate development
- Low interest rates enhance market accessibility
Current State of St. George’s Real Estate Market
The St. George housing market is changing fast in 2024. With over 2,200 homes for sale, it’s the busiest it’s been in 12 years. This is great news for both people looking to buy and those wanting to sell.
Home prices in St. George have really gone up in the last 10 years. What used to cost $220,000 in 2012 now costs about $524,000. That’s a huge jump of 138%.
Median Home Prices and Sales Volume
Here are some interesting facts about the market:
- Median home list price stands at $524,000
- Active listings exceed 2,200 properties
- Interest rates stabilized around 6.5%
Market Performance Indicators
| Market Metric | 2024 Status |
|---|---|
| Inventory Levels | Highest in 12 years |
| Home Price Growth | 138% in 10 years |
| Interest Rates | 6.5% |
Year-over-Year Comparison
The St. George housing market is showing signs of stability. Competitive pricing strategies are leading to more offers. People moving from California and Nevada are also changing the market.
“St. George’s real estate market offers unique opportunities for discerning buyers and investors,” says local real estate expert.
Understanding Home Price Fluctuations in St. George
The St. George housing market forecast shows a complex picture of home prices in early 2025. Home prices in St. George have seen changes in different types of properties. This reflects the complex nature of local real estate trends.
- Median sold price dropped to $207,000
- Overall market value fell by 17.2% from December 2024
- Median price per square foot stayed the same at $150
“The current market presents unique opportunities for strategic buyers,” says local real estate expert.
Looking at specific property types, we see interesting trends in St. George home prices:
| Property Type | Price Change | Inventory Trend |
|---|---|---|
| 1-Bedroom Homes | No Change | Stable at 1 unit |
| 2-Bedroom Homes | +6.1% Increase | +100% Inventory Growth |
| 3-Bedroom Homes | -5.5% Decrease | -37.5% Inventory Reduction |
| 4-Bedroom Homes | -1.5% Decrease | +50% Inventory Growth |
| 5+ Bedroom Homes | No Change | Stable at 1 unit |
Interest rates have gone down from 7.75% to 6.75%. This might make buyers more interested. Experts think home prices could go up by 5%, which is about $25,000 for a $500,000 home.
Even with current market challenges, the St. George housing market forecast shows resilience. It also points to growth opportunities for smart investors and homebuyers.
Property Inventory Analysis and Availability
The St. George housing demand is changing the local real estate scene. Recent data shows important insights into property numbers and market trends. Investors and buyers are watching these changes closely, as they affect their decisions.
New construction homes in St. George are key to meeting the area’s growing housing needs. Market statistics give a detailed look at the property scene:
Single-Family Home Availability
In September 2024, the single-family home market showed some key points:
- Total active listings: 7,590 properties
- Single-family home listings: 1,895 (16.5% increase from 2023)
- Homes sold in September: 365 single-family properties
Multi-Family Unit Statistics
| Property Type | Median Price | Average Listing Age |
|---|---|---|
| 1-Bedroom Homes | $310,000 | 95 days |
| 2-Bedroom Homes | $331,900 | 102 days |
| 3-Bedroom Homes | $469,900 | 110 days |
| 4-Bedroom Homes | $649,900 | 118 days |
New Construction Impact
The St. George housing market is evolving, with new homes helping to fill the gap. Key market indicators suggest a balanced approach to meeting housing demand:
- Months of inventory: 4.6 months
- Average home price: $599,785 (5.94% increase year-over-year)
- Pending contracts: 446 properties in September 2024
“The St. George real estate market demonstrates resilience through strategic new construction and careful inventory management.” – Local Real Estate Analyst
Buyer Demographics and Preferences
The St. George housing market is changing fast. It attracts many different types of buyers. Young professionals, retirees, and remote workers love the area’s beauty and job chances.
- About 40% of recent buyers are from out of state.
- Most buyers are between 35 and 55 years old.
- Remote workers want homes that offer flexibility.
- Retirement and vacation homes are getting more popular.
Money matters a lot to buyers. The average home price in Washington County is $645,000, up 6% from last year. Buyers like:
- Single-level homes, priced at $338 per square foot.
- Homes with views of mountains or canyons.
- Places close to fun activities.
- Areas where homes might increase in value.
“St. George is a great mix of affordability and lifestyle, drawing many buyers,” says a local real estate expert.
Getting a mortgage is important in St. George. Buyers can choose from conventional, FHA, and VA loans. Having a pre-approval can help them find the best homes.
| Buyer Category | Percentage | Primary Interest |
|---|---|---|
| Remote Workers | 25% | Spacious Home Offices |
| Retirees | 35% | Low-Maintenance Properties |
| Young Professionals | 22% | Urban-Adjacent Neighborhoods |
| Investment Buyers | 18% | Rental Income |
The current market is slightly in favor of sellers, with a 4-month absorption rate. This presents both challenges and chances for buyers in St. George.
Trends in St. George Home Buying
The St. George real estate market is growing fast. Recent data shows interesting facts about buying homes. These insights are important for both buyers and investors.
Current Buying Patterns
St. George’s home buying trends are changing quickly. Here are some key points:
- New home sales totaled 7,625, up 7% from last year
- Average home prices jumped 11% to $310,900
- Sales vacancy rates fell from 4.3% to 1.6%
Market Movement Indicators
The local real estate market is doing well. Here are some key signs:
- Population grew 2.7% each year from 2010 to 2023
- More people moved in, 5,625 annually
- Jobs grew 4.8% in one year
Future Projections
Experts think the St. George real estate market will keep growing. Demand for new homes is expected to be 6,075 in three years, with 720 homes being built now. It’s a good time for both home buyers and investors.
“St. George is a great chance in the southwestern real estate world. It has steady growth and good market conditions.” – Local Real Estate Analyst
The trends in St. George home buying show a strong market. It’s driven by more people moving in, a stable economy, and good homes.
Average Days on Market Analysis
The St. George real estate market shows interesting trends. In January 2025, homes in Saint George were listed for an average of 95 days. This is a 1.5% drop from the month before.
Knowing the days on market (DOM) is key for buyers and sellers. It tells us how long homes are listed before they sell. This gives us a peek into the market’s speed.
“Time is a critical factor in real estate transactions, and every day counts in the competitive St. George market.” – Local Real Estate Expert
Here are some important points about the St. George real estate market:
- Average listing age: 95 days in January 2025
- Decrease in listing duration: 1.5% month-over-month
- Total homes for sale: 356 properties
Looking at homes by bedroom count, we see some trends:
| Bedroom Count | Number of Homes | Market Change |
|---|---|---|
| 2 Bedrooms | 49 | +32.4% |
| 3 Bedrooms | 122 | +41.9% |
| 4 Bedrooms | 98 | +58.1% |
The data shows the St. George housing market is changing. Different types of homes have different listing times.
Price Variations by Property Type
St. George home prices vary by property type. The local real estate market has different prices for each type of home.
St. George’s real estate market has unique prices for each type. Buyers and investors can find homes that fit their budget and preferences.
Single-Family Home Pricing
Single-family homes are the heart of St. George’s market. Here are some interesting price trends:
- Median listing price: $595,000
- Price range: $169,500 to $1,575,000
- Average market time: 91 days
Townhouse and Condo Markets
St. George offers more than just single-family homes. Townhouses and condos are great alternatives for buyers.
| Property Type | Available Units | Price Range |
|---|---|---|
| Condos | 68 | $180,000 – $750,000 |
| Townhouses | 154 | $250,000 – $850,000 |
Luxury Home Segment
The luxury market in St. George is exciting for investors. High-end properties have amazing features:
“The largest listed luxury home offers 7 beds, 5.5 baths, spanning 5,949 sq ft, priced at $1,575,000”
St. George home prices vary a lot. This offers many investment opportunities across different property types.
Neighborhood Market Performance
The St. George real estate market is full of life, with each neighborhood having its own story. The analysis shows big differences in property values and market trends. These are important for anyone looking to buy or invest in St. George.
Here are some key points about neighborhood markets:
- St. George’s median home price is $504,400
- Prices vary a lot from one neighborhood to another
- Each area has its own market conditions
“Understanding neighborhood-specific trends is key for smart real estate choices in St. George.”
Looking at how different neighborhoods perform, we see some interesting trends. Property values have been strong, with some areas growing faster than others.
| Neighborhood | Median Home Price | Market Trend |
|---|---|---|
| Downtown St. George | $525,000 | Stable |
| West St. George | $485,600 | Growing |
| Red Hills Area | $565,300 | Strong |
It’s important for investors and homebuyers to look at what makes each neighborhood special. Things like how close it is to shops and schools, and new projects in the area, can really affect property values and the market.
- New areas might be good for investment
- Well-established neighborhoods keep their value
- Areas with new developments offer special chances
Investment Opportunities in St. George
St. George is a great place for real estate investors looking to make money. The local market has many benefits for those interested in St. George investment properties. It shows strong signs of good returns.
Return on Investment Data
Investors can find great value in St. George’s real estate market. Key highlights include:
- Median house price: $338,752 (higher than national median of $318,879)
- Steady property value appreciation over the past decade
- Neighborhoods with highest investment opportunity:
- Washington Fields
- Little Valley
- Bloomington Hills
“St. George real estate market ranks as the 6th top market poised for recovery” – Local Real Estate Report
Rental Market Overview
The rental market in St. George is very promising for investors. Key investment attributes include:
- Lower vacancy rates compared to similar-sized cities
- High demand from families and retirees
- Attractive areas for vacation and long-term rentals
Places like Entrada and Stone Cliff are top picks for investors. They offer great chances in high-end real estate. The market’s steady growth and strong economy make St. George a top choice for smart investors.
New Construction Trends and Development
St. George’s real estate is changing fast with new homes popping up everywhere. The city’s sunny weather and job opportunities are attracting many. With over 300 sunny days a year, it’s a top choice for those wanting a great place to live.
The new homes in St. George are special:
- Energy-efficient designs
- High-tech features
- Modern looks
- Smart home systems
There’s a big demand for new homes in St. George. Builders are building homes priced between $300,000 to $400,000. This makes it easier for more people to buy a home.
“The future of St. George real estate lies in innovative, sustainable new construction that meets evolving homebuyer preferences.”
Here are some interesting facts about the market:
| Construction Metric | Current Statistic |
|---|---|
| New Construction Home Percentage | 35% of Available Homes |
| Population Growth Projection | 464,000 by 2060 |
| Homes Selling at Asking Price | 97-98% |
More and more people want to buy new homes in St. George. These homes come with warranties, save energy, and have top-notch security. The market is stable and growing, making it a great place to invest.
Market Recovery and Stability Indicators
The St. George real estate market has shown great strength and growth. Recent data shows the area is a strong part of Utah’s housing scene. This is good news for those looking to buy or invest.
- Ranked 6th nationally in top 10 markets for recovery
- Appreciation rates over 7% in recent years
- Buyers and sellers have similar goals
Historical Market Performance
The St. George housing market forecast shows a complex economic scene. Utah’s population growth has added about 39,000 jobs in key areas.
| Market Indicator | Current Status |
|---|---|
| Median Home Price Trend | Gradual Upward Movement |
| Sales-to-List Price Ratio | Strong Market Performance |
| Housing Inventory | Low, Creating Competitive Conditions |
Growth Projections
“The St. George real estate market continues to show exceptional stability compared to national trends.” – Local Real Estate Expert
Experts predict the real estate sector will keep growing. Job market growth, economic stability, and limited homes are all positive signs. This makes the St. George housing market forecast look good.
- Expected increase in property values
- Competitive market conditions
- Opportunities for smart investments
Financing Options and Interest Rates
Understanding financing options and interest rates is key when buying a home in St. George. The local market offers many mortgage choices for homebuyers.
In St. George, mortgage rates vary by lender and loan type. Homebuyers can find financing that fits their budget.
Current Mortgage Rate Landscape
The St. George real estate market has several mortgage rate options:
- 30-year fixed mortgage: 6.821%
- 15-year fixed mortgage: 5.923%
- 5-year Adjustable Rate Mortgage (ARM): 7.189%
- VA loan rate: 6.323%
- FHA loan rate: 6.810%
“Understanding your financing options is key to making a smart home purchase.”
Lender Comparison
| Lender | Interest Rate | Monthly Payment | Average Fees |
|---|---|---|---|
| First Federal Bank | 6.889% | $2,628 | $559 |
| NBKC | 7.027% | $2,659 | $1,479 |
| Rocket Mortgage | 7.908% | $2,901 | $1,250 |
Key factors influencing mortgage rates include credit score, loan type, and current market conditions. Lenders often prefer borrowers with a credit score between 720-739 for better rates.
Homebuyers in St. George should look at different loan types:
- Conventional loans
- FHA loans
- VA loans
- Jumbo loans
Each loan type has its own benefits. They range from low down payments to special terms for veterans and first-time buyers.
Seasonal Market Variations
Knowing the seasonal trends in St. George’s real estate market can help buyers and sellers. The market changes a lot throughout the year. Each season brings its own set of opportunities and challenges.
Peak Buying Seasons
Spring and summer are the busiest times for the St. George real estate market. Many factors contribute to this:
- Families want to move before school starts
- The weather is better for looking at homes
- There are more homes for sale
- It’s the best time to move into a new place
Off-Season Opportunities
Off-peak seasons, like fall and winter, have their own benefits. They offer chances for smart buyers:
- There’s less competition
- Prices might be more negotiable
- Sellers are eager to sell
| Season | Market Characteristics | Buyer Opportunities |
|---|---|---|
| Spring/Summer | Peak activity | High inventory, competitive market |
| Fall | Slowing activity | Better deals, less competition |
| Winter | Lowest market activity | Potential for significant discounts |
“Timing is everything in the St. George real estate market. Understanding seasonal variations can unlock significant financial opportunities.” – Local Real Estate Expert
The St. George real estate market is very flexible with the seasons. Buyers should get pre-approved and stay flexible to get the most out of their investment.
Home Size and Features Analysis
St. George’s home market shows interesting trends in what buyers want. The local real estate scene is changing fast. Homes are getting bigger and more feature-rich, drawing in both locals and outsiders.
Today’s buyers in St. George are looking for specific things in a home. They want lots of space, energy-saving features, and the latest in home tech. These are key factors in their home search.
Popular Home Features
- Open concept living spaces
- Energy-efficient appliances
- Smart home technology integration
- Outdoor living areas
- Home office spaces
Home sizes in St. George are changing too. Homes between 1,800 and 2,500 square feet are very popular. Buyers want enough room to live comfortably but not so much that it’s hard to take care of.
“The St. George real estate market continues to demonstrate robust adaptability in home design and buyer preferences.” – Local Real Estate Expert
Market Preferences by Home Size
| Home Size Range | Market Popularity | Average Price |
|---|---|---|
| 1,500-1,800 sq ft | Medium | $350,000 |
| 1,800-2,500 sq ft | High | $425,000 |
| 2,500-3,000 sq ft | Moderate | $525,000 |
There’s a shift towards homes that are more practical and efficient. Flexible living spaces that work for remote work and other uses are very appealing to today’s buyers.
When looking at St. George’s real estate, it’s good to know what’s trending. Knowing what buyers want can help you make a smart choice.
Professional Real Estate Services by Oak Real Estate
Exploring the St. George real estate market can be tricky. Oak Real Estate is here to help. We offer top-notch services for both buyers and sellers in the area.
Our team knows the St. George market inside out. We tailor our services to fit your specific needs. This way, we ensure you get the best possible outcome.
Comprehensive Real Estate Services
- Home staging consultations
- New construction property guidance
- Buyer representation
- Seller marketing strategies
- Property valuation services
Contact Information
| Contact Method | Details |
|---|---|
| Phone Numbers | (435) 640-7297 | (435) 879-9255 |
| Business Hours | Monday to Friday: 9:30 AM – 8:30 PM |
“Your trusted partner in the St. George real estate market, dedicated to transforming your property dreams into reality.”
Contact Oak Real Estate today. Let us guide you through the real estate journey with our professional and client-focused services.
Conclusion
The St. George real estate market is showing great strength and promise. It offers great chances for both buyers and investors. Home prices in Utah have gone up a lot, showing a strong economy and job market.
Looking to buy a home? The St. George market is a good place to start. It’s a buyer’s market now, which means you have more power to negotiate. Plus, there are FHA loan grants and interest rates might drop soon.
The St. George housing market is great for many types of buyers. It’s perfect for first-time buyers and seasoned investors alike. The area focuses on affordable, energy-saving homes and green development.
Oak Real Estate is here to help you with your real estate goals. We offer expert advice in the St. George market. Whether you want your dream home or to invest, our team is ready to guide you.
For more details, visit: https://oaksrealestateteam.com/property-evaluation/