St George Real Estate Market Conditions Reports and Opinions

Housing market reports, news, statistics, and opinions are brought to you by Paula Smith Associate Broker RealtyPath St George. You will find all market condition reports  for Southern Utah and the St George real estate forecast.  If you would like to have Paula Smith cover particular topics, related to the Southern Utah real estate market, please use the contact information at the top or bottom of this page.  Please note, all topics are written by Paula Smith and everything is the intellectual property and opinion of Paula Smith. 

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Aug. 12, 2020

July 2020 St George Utah Real Estate Housing Market Report

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.

August 2020 St George Housing Market Report

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July 6, 2020

Escapes at Entrada 2139 W Cougar Rock Circle #190

Escapes at Entrada

Escapes at EntradaThis 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.

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May 5, 2020

May 2020 COVID Housing Market Surge or Collapse?

This is the May 2020 housing market report for the Greater St George Utah area, specific to residential homes. This report will look at April sales and statistics, which places us in the middle of the COVID crisis.

Sales are lower, and as a result, inventory is higher—however, we are faring well. For the past couple of years, the St George housing market tends to spike from March to April, but this COVID year we did experience a decline. These results should not come as a surprise, considering the situation of the world having travel bans and lockdown. It was interesting to note, however, that each week our "pending" homes have been quite strong, and ultimately selling 252 homes confirms strength and resiliency. Take a look at the current previous 3 years:

April 2020 St George Housing Market Stats

I do expect to see a decent spike in May for home sales, and I expect to see these numbers to remain strong through the summer. If you look at our black line of sales going back to April 2017, you can see that we have peaks and valleys throughout the entire year, but for the most part, our sales are steady. We do not have a time in St George Utah when homes do not sell, and apparently, a pandemic is also immune.

The St George Utah real estate market is selling. Prices seem to be holding firm. I've noticed buyers commenting that prices are dipping, but a pricing decline is very typical for our market, this time of the year. We have the Parade of Homes every February, and an increase in prices systematically coincides with that event. Within a month or two after the Parade, for homes that did not sell, over-inflated prices tend to reduce to their fair market values (hence a noticeable "decline in prices" may be observed). It is my opinion that the generalized statement of "I see prices coming down" really has nothing to do with COVID, but more to do with what is typical for April and May in St George. In a couple of months, we will have a better understanding of any significant pricing moves that could be related to the economy. However, at this point, I cannot attribute any radar blip pricing declines to the pandemic.

Year to date activity (from 1/1/20 to 4/30/20) compared to the same time last year, shows that the Greater St George (residential) is down only 1% over last year (there were only 20 sold homes separating the YTD from the previous year at the same time). The average sale price was UP 8% (again, using the same data YTD compared to the prior year same time). At this point, I'm simply not seeing any indicators that the market is doing anything but holding strong. I've had a few buyers that mentioned they plan to wait until prices decline before they purchase. Hopefully, they love their current quarantine headquarters...because I feel they'll be hunkering down for a while before pricing may decrease. At this point, I think that we will finish out the year with strength and values continuing to trend upward, gently.  

Sellers that have urgency may be more motivated to bargain, but that will apply to any time of the year (crisis or otherwise). The number stressed sellers are going to be few and far between, so buyers will have to surrender to fair market prices at this point. There are some deals to be had, but they are more like diamonds in the rough, and you will be better paired with a skilled agent who can spot the deals. Waiting for prices to dip on a particular home is like waiting for the pinata to burst…once it goes--- you're going to have some serious competition.  Multiple offers are still common, even during the pandemic. I see no real indicators at this point that leads me to believe any shift is close.  We currently (as of today) have 452 PENDING homes! Since March 1st, there are 377 pending. That demonstrates incredible strength. I suspect many of these will close in May. Time to close has been slightly delayed, with banks and lenders being overwhelmed and running minimally staffed.

I've got some pinata candy on the way…anyone looking for a fantastic view home in Entrada? How about a smaller 2-bedroom home in Sunriver (priced under $275,000)? Check out a couple of my newest listings, below.

Homes Listed by Paula Smith RealtyPath

Are you interested in other statistical information? I'd love to hear from you, especially if you're out of the area—how is your market doing?

Paula Smith RealtyPath St George

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

Paula Smith connect with Facebook Find Paula Smith on Facebook

 

Posted in Buyers, Sellers, Statistics
April 22, 2020

1630 E. 2450 S. #90 St George Painted Desert

THIS HOME IS NOW SOLD

 

Painted Desert Home for sale St George

1630 E. 2450 S. #90
St George, UT 84790

Price: $329,000
MLS 20-212909

Bedrooms: 4
High Ceilings, Beautiful Backyard
Bathrooms: 2
Garage: 2
Square Footage: 1,904

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March 15, 2020

March 2020 St George Real Estate Market Update

March 2020 St George Real Estate Market Report

What an unusual time we are facing in the world today. The pandemic is something everyone has considered, but few have planned. We are still quite early into the ripple, and the full extent of the effect may not be realized for several months. Perhaps it will be a small blip on the radar, or maybe it will spiral. I suspect the result will be somewhere in the middle. My thoughts are that the housing market will momentarily lose some traction, but I do not suspect that we will see anything genuinely significant. Honestly, I'm wondering 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.

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March 2, 2020

2127 W Azzurro Drive, St George, UT 84770

THIS HOME IS NOW SOLD

SunBrook St George Utah Home For Sale

Sunbrook St George Home For Sale

2127 W. Azzurro Drive
St George, UT 84770

Price: $335,900
MLS 20-211537

Bedrooms: 3
High Ceilings, Beautiful Backyard
Bathrooms: 2
Garage: 2.
Square Footage: 1,665

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Dec. 18, 2019

December 2019 St George Market Report

First and foremost, Happy Holidays! From my family to yours, we wish you good health, happiness, and prosperity for the season and the new year. If you’re on my newsletter mail-out program, I hope you’ve been enjoying those. I have been trying to complete them every month, but as you already know—maybe it’s going to end up every other month in my busier seasons. Calendars are being mailed out this week to you, and I’ll have the first 2020 newsletter by the end of January.

I’ll be doing an end of the year statistics report, but I wanted to look at where things are as we head into the final weeks of 2019. Here are the “get to the point” stats for those who aren’t in this for the long read.

  • Median list price YTD is up 7.46%
  • Median SOLD price YTD is up 6.56%
  • Average sale price, YTD, for Greater St George, for 2019, is $364,010.
  • Median Days on the Market (DOM) it up a bit (YTD) at 29 days compared to November, 2018 YTD of 25 days. 
  • Up (YTD) 5.1% for active listings. Currently, we have 875 listed (Greater St George). 
  • Sold listings are up 3.1% (YTD up to November 2018 vs. 2019); we have sold 3,737 as of today (Greater St George). 
  • Pending listings are up 6% (YTD to November), and we are 18 days into December, and 369 homes are pending. 
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Dec. 17, 2019

3563 E Hidden Springs Drive, Washington, UT 84780

THIS HOME IS NOW SOLD

 

Coral Canyon Home for Sale

3563 E. Hidden Springs Drive
Washington, UT 84780

Price: $315,000
MLS 20-209991

Bedrooms: 3
Beautiful, Private Backyard
Bathrooms: 2
Garage: 2.
Square Footage: 1,686

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Nov. 4, 2019

What's Up in St George Utah? November Market Report

November St George area Market Report

Before we get too deep into the holidays that are quickly approaching, I wanted to take a look at the area housing market conditions. This report will focus on the Greater St George area, which includes St George, Santa Clara, Ivins, Washington, and Sunriver. I’ll also be taking a closer look at Sunriver and offering specific information for that community. Also, I’ve got two new listings in there I want you to see.

For those of you that want me to get to the point…the market year to date for the entire county is up over last year. The number sold (for the ENTIRE COUNTY) is up 2%, and the average sale price is up 5%. Specific to St George areas (mentioned above), the number sold is up 1.8%, and the median sale price is up 6.6%. Here is my favorite “go-to” graph, which is illustrating the past two years:

St George Housing Market Report Paula Smith Real Estate

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Nov. 4, 2019

4743 S Martin Drive St George SunRiver Villa

THIS HOME IS NOW SOLD

Sunriver Villa Home For SaleSunriver Villa Community, priced at $359,900.

Just in time for the holidays, you have an opportunity to get this perfect gift of a home. The current owner has taken the liberty to make it ideal for you. Located in the Sunriver Villa community (one of our spectacular 55+ communities in St George), you will find 4743 S. Martin Drive St George, Utah. 4743 S. Martin Drive is approximately 1700sqft, with 2 bedrooms, an office, 2 baths, and a 2 and a half car garage. Nearly new, only better because the owner has already installed the shutters, and the landscaping maturity has progressed. 

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