If you've been wondering what's really going on in the Greater St. George market right now, here's the rundown, straight from the numbers.
Home Prices Are Still Climbing — Just Not in a Hurry
The median sale price in July came in at $546,500, up 3.3% from last July's $529,000. Average sale price told a similar story, up 5.1% year-over-year to $610,802.
So values are moving in the right direction for sellers — just at a steadier, more sustainable pace than the frenzy of a couple years back.
Homes Are Sitting a Little Longer
The median home spent 43 days on market in July, about the same as last year. But the average crept up to 75 days, a sign that well-priced, well-presented homes are still moving quickly while others are lingering.
Pricing right out of the gate matters more than ever.
We're in a More Balanced Market
Absorption rate — basically how many months it would take to sell through current inventory — sits at 4.61 months, up slightly from 4.56 a year ago.
That's inching toward buyer's market territory, giving buyers a little more breathing room and negotiating power than they've had in recent years.
What this means for you
Buyers finally have a bit more leverage, and sellers who price and present well are still landing strong offers. The market is meeting in the middle.
Fewer Homes Are Closing Than Last Year
240 homes sold in July, down 18.4% from 294 last July. Pendings are down too (236 vs. 319, a 26% drop).
That's the clearest signal in this whole report — buyer demand has cooled compared to a year ago, even though the homes that do sell are still selling for solid prices.
Sellers Are Still Getting Close to Asking
The sale-to-list price ratio is running around 95.6%, meaning sellers are typically landing within a few percent of their listed price when a deal closes.
The Bottom Line
Prices are holding steady and even ticking up, but the market has slowed its pace — homes are taking a bit longer to sell and fewer are closing month over month.
For sellers, that means pricing strategically and presenting well matters more than ever. For buyers, it means a little more room to negotiate than we've seen in a while.
Questions About Your Situation?
Buying, selling, or just curious what your home is worth in today's market? Reach out anytime — I'm happy to walk through the numbers with you.