April 2022 St George Real Estate Market Update

St George, Utah, is heating up; the weather is catching up to the hot housing market. The housing market has been scorching for about two years now…but alas, we may be seeing a trend of slightly cooler market temps. Now let me emphasize…SLIGHTLY….

Back in February 2020, I sent out my blog report for the market—and in it, I wrote:

“Honestly, I wonder if this could be the calm before the housing surge. People are taking a life break, spending time with family or alone, and likely reflecting on life. Those who have been considering changing their current situation, moving across town, or cross country, may decide at this moment….(or once we are in the clear) to act now on these pent-up plans. Others may be financially forced into it, job or pay loss may result in forced sales and relocation. With ridiculously low-interest rates, stocks that were seeing all-time highs (I'm sure many people moved their profits to a more stable portfolio at the first sign of this impending trouble)…I don't know—I think we may see a bit of a frenzy when the wave recedes.” 

Now I’m not going to say “I was right,” but, well…. I was right. It was speculation in unchartered territory back then-- that sentiment remains relevant today. My opinions to follow are still only speculation, so take it for what it may be worth. 

St George Market report… what's to come

Well…If I had the answer to "what's to come," I'd probably also have the answers for all human existence. It's a wild ride we are witnessing, and I've discussed the "what's to come" theory with many professionals in all facets of the real estate industry. While I stumble across like-minded articles —it continues to be a cause for pause and reflection, self-doubt, and reconsideration…as my opinion seems to be the minority of views from many in which I've discussed market conditions.  

I'm going to stand firm with my theory, however…with my original instincts, beliefs, and speculation. I genuinely believe we will hit a housing wall. Will it be as severe and extensive as our 2007'ish housing disaster? Well, I'm not sure. I do think it will be extensive and have a level of severity. I believe the difference in the blowback will be more of a soft fall and not "freefalling" as what happened in 2007. Back then, the housing collapsed—Swift, hard, and seemingly overnight. Values plummeted, and the downward spiral was visible to the naked eye. I do not believe we will see the same rapid fate if housing does hit the inevitable wall. 

Will The Real Estate Market Crash Again in St George?

Year-End and New Year Market Report

Let's take a look at the St. George real estate market report, focusing on current events and comparisons with prior years. And a little reflection on history and science. 

At this point, our St George, Utah housing market seems to be right on track. The market was so predictable that I decided to pull one extra year for comparing and found another year….with the same predictability. January's "sold" homes were almost identical for the past three years. The only total transformation was the number of homes available. That number plummeted. 

SOLD!!  THIS HOME IS NOW SOLD!!!

SunBrook St George Home with a VIEW

85 N. Emeraud Drive
St George, UT 84770

Price: $775,000
MLS 

Bedrooms: 3
Beautiful Backyard, High-End Finishes
Bathrooms: 3
Garage: 2
Square Footage: 2,845

If you'll be using your home as a second home, or you'll be leaving for extended lengths of time--here are some tips to consider. I'm writing this most specific to our St George, Utah area; however, many of these tips will work for any area. Keep in mind that these are suggestions and things that I do for my own home. Each home is different, and it's possible that your particular home or appliances could be negatively impacted by doing something from this list. Please be sure that anything you do will work for your home and your appliances or components. 

What's going on with the St George housing market? Well, it's been active, to say the least. My apologies for not staying on top of these statistics; I've been quite busy myself, and while a poor excuse, it's the truth. I do appreciate the opportunity my clients have allowed me over the years. While I do become overwhelmingly busy at times, I am grateful for the opportunity and I realize that without my clients, I would not have any success. Without further ado, let's take a look at my favorite two-year stat image. The graph below illustrates the market conditions for the past two years. Notice the yellow line—that is a straight line for "sold" homes. You'll see we did have a very small dip in January… but that is relatively common coming out of the holiday season.

May 2021 St George Market report

Wow…this report leaves me speechless. Check out this graph from April 2019 to April 2021.

The graph below is specific to the Greater St George (residential) area.

SOLD

Lava Bluff is a 55+ age-restricted community located in Hurricane, Utah. While this is “Hurricane,” the location is more on the outskirts placing this community in closer proximity to the St George side of town. Nightly rentals are NOT allowed within this community.

Coming from I15, you will find this quiet smaller community of Lava Bluff just past the Quail Lake turn and just before the Sand Hollow turn off, positioning you front and center for ease of access to our recreational lakes. If your pastime desires are off-roading, hiking, or trails…you are in luck! Beyond your front door is the gateway to the outdoors.

Have a look out the living room window…take in the views and how close the beautiful mountains are. Shopping and gas stations are down the street; a little further will place you in Hurricane town. Lava Bluff features ease of access to anything you’d like while being on the quiet side of the hustle and bustle.

Inside the home, you’ll appreciate the brand-new carpet, new flooring in both bathrooms, and the open and spacious floorplan. The kitchen features ample counter space and room to move around with working space in each station. The dining area just off the kitchen at the front of the house hosts windows on all sides, allowing you to take in the views and observe the neighborhood activity.

The living room at the front door allows for mountain views and space for gatherings (assuming the world will return to normal), then a secondary living room (or flex room) will serve perfectly for TV watching, an office space, or both. Down the hall, you’ll find a second bedroom across from the main bathroom, and you’ll be amazed at the size of the owners' bedroom. The ensuite bathroom is roomy and has beautiful new flooring. All owners will appreciate ample counter space, natural light, and an easy step-in shower.

Head out through the laundry room and notice the added storage. You’ll appreciate the carport with attached two-room flex space. Use one side as a shop and the room as a hobby room. Windows in each space bring in natural light to space; tinker with any of your projects. Perhaps you will use the outdoor rooms to store your garden tools because the backyard offers a fabulous amount of space. The generously appointed backyard will offer so many options. If you’ve got a furry family member, but you still wish you could have a garden…you’re in luck! This yard will offer the space you need for whatever you would like to do.

Here is a direct link for this listing--if the home should go pending, this link will automatically update:

www.flexmls.com/share/4f9GO/52-N-3910-W.-Hurricane-UT-84737

Make an appointment to see this home today. For a private showing, contact Paula Smith, listing agent of RealtyPath St George. 435-773-3751 If you’re already working with a buyer's agent, request them to call for an appointment. Don’t delay; homes in Lava Bluff don’t come up on the market often.

I am Paula Smith, Associate Broker with RealtyPath of St George. I have been a licensed, full-time real estate agent in Southern Utah since 2006.  I have been selling residential real estate during all of the changes in the market, as well as witnessing our St George area grow to become one of the fastest-growing cities in America. I keep my finger on the pulse and not only pay attention to what is going on, and I've accurately predicted future market conditions.  

Allow me to be of assistance and earn your business. If you’ve got a home in Southern Utah that you’re thinking of selling and you’d like a property market report, I can send that to you.

If you're ready to buy or sell, I'm prepared to make it happen.  435-773-3751

 Find Paula Smith on Facebook

This is St George, Utah real estate housing market report, reviewing home sales for July 2020 and comparing sales from previous years.

If only we could place the housing market in a syringe and offer total COVID19 immunity to the public, the way the housing market is seemingly immune—we'd be set! The St George housing market is doing fantastic. It's a wonderful venue for sellers, not as enjoyable for buyers. The inventory is as low as I've seen it (maybe ever), and demand is full throttle. Iced with extortionary low-interest rates, it's almost unbelievable.

This recipe is causing prices to trend upward, and some are trending fast. Coveted home features are high in demand and low in availably creating instant bidding wars and higher pricing. Coveted features include a larger lot, private lot, backs to open space, view, large garage, open floor plan, newer, pool, single level, and of course, lower price points are desired. Under $300,000 sells instantly (but typically without most of the coveted features mentioned above). Nightly rental or vacation rental homes for sale are a popular investment these days. With cheap money, it can make a strategic investment, especially for those who would like a second home in St George and would like to offset their expenses for owning a second home.

Let's have a look at the graph below.

Escapes at Entrada--THIS HOME IS SOLD

This rare lot is now available and one of only a couple of lots that back to a common area offering panoramic views that will captivate you from every window. The views don't stop there, though. The views begin as soon as you turn into Entrada's Kachina community. The guarded access will have you pause momentarily, long enough to be mesmerized by the beauty that IS Entrada. The Red Mountains to the left and right, along with stunning landscape offering a natural, well-manicured, and colorful sight to call home. Utah vibrant bright blue skies above and the bold red mountain backdrop, it truly is a spectacular sight.