ST. GEORGE, UT AUGUST 2024 REAL ESTATE MARKET REPORT (2024)

When your lifestyle evolves, it’s natural for your demand for housing to evolve too. Maybe you’re ready to expand into a home—one with an extra room, a larger garage, or maybe a nice

backyard. The thing is, deciding to sell is one thing, ensuring you’re getting the best price is another.

For most of us, our homes are the largest asset we’ll ever own. As you consider selling your home, you deserve the insight and guidance from an expert in your local market. Here are the

top things to know about the St George UT real estate market right now:

Inventory Is Down and Demand Is Up

With the inherently limited number of properties and consistently high demand, St. George regularly sees a boost in sale prices. In 2024, fewer homes were listed than in years past—continuing to push sale prices even higher. The median sales price increased from $490,000 in July 2023 to $502,450 in July 2024, marking a rise of 2.54%. In July, the sale-to-list percentage—the measure of how close the actual sale price was to the original list price—was 97.36%, reflecting strong market performance in this metric. To capitalize on your home’s equity, you want to work with a real estate expert who understands how to strategically price and market your home so you get MAXIMUM return.

Median Sale Price is Still on the Rise

When correctly priced and positioned well on the market, homes are selling at or above list price—often in fewer days on market. The median sale price reached a record-breaking $502,450 in July, highlighting a strong upward trend. Days on market remained at 66 days in July 2024, consistent with last year, reflecting a stable market. These statistics underscore the importance of a strategic marketing plan when selling your largest financial asset—and that’s why you deserve a plan designed to maximize your return.

We Continue to See Homes Sell With Multiple Offers

The market is quite active, and it’s not showing any signs of slowing. With the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market.

As a homeowner, what does this mean for you?

If you’re thinking about selling in the next 12 months, now is the time to start preparing your home for the market.

My commitment to strategic marketing, enhanced negotiation strategies, and communication are just a few reasons why over 500 happy clients have trusted me with their home sales.

When you work with me, I commit to making you feel comfortable throughout the entire home experience. I customize marketing strategies tailored to your goals, enhance your

experience with market research, and ensure every potential buyer is qualified. You’ve worked hard, now let me work hard for you.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 435-632-7073

We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on the market.

Call Today → 435-632-7073

LOOKING AHEAD

Here’s what we’ll be watching over the coming months:

1. Low Supply of Available Homes

St. George had low inventory in July, likely due to increased activity, and there’s no telling when it will slow down. With inventory low and the median sale price steadily increasing—up 2.54% in July 2024 compared to July 2023—sellers who work with an expert to properly position themselves on the market can generally expect to secure a nice return.

2. Buyers Are Eagerly Searching

Buyers are eager to scoop up the available inventory. Days on market remained at 66 days in July 2024, consistent with last year, reflecting a stable market. With inventory as low as it is, it’s a great time to sell. Regardless of what twists and turns the market takes, to truly maximize your return on investment, it’s crucial that you strategically position your home to buyers.

3. Continued Growth In St. George Utah

As St. George develops, we’ll continue to see property values increase. Here are just a few things to note:

• As of the most recent data available, St. George, Utah, has consistently ranked among the fastest-growing metro areas in the United States. It was ranked #3 in the country for fastest-growing metro areas in 2022 and this continues to shape its current development, demonstrating a robust and resilient market that remains attractive to investors and home buyers alike.
• Out of the top 10 cities in America with the fastest growing economy, St. George was ranked #4 in 2022 reflecting the city’s enduring economic vitality and growth trajectory. This strong historical performance continues to influence and drive St. George’s ongoing development and property value increases in 2024.
• Family Circle magazine named St. George the Best City to Raise a Family.

4. What to Expect When Selling Your Home

The market consistently evolves–and you deserve to sell for the highest possible price no matter what. The right marketing strategy, pricing knowledge, and negotiation power are what make the difference when you’re ready to sell your home and embark on what may be one of the largest financial transactions of your lifetime.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 435-632-7073