St. George, UT Housing Market

Market Overview

St. George, UT has a PropertyIQ Score of 14/100, a weak reading driven by soft home value momentum and slow selling conditions. The 12-month home value momentum is 0.27%, while the 3-month momentum is -0.89%. Median days on market is 81 days, and 18.8% of listings have had a price cut. The median home value is $526,381, about $8,200 below the state average of $534,582, so local prices remain close to statewide levels even as demand cools.

Against state benchmarks, St. George’s rent index of $1,873 is roughly 33% above the state average of $1,405. Its unemployment rate of 3.7% is nearly even with the state’s 3.6%. The largest gap is income: median household income is $76,411, well below the state average of $91,750. Population growth data is not available, leaving a demand-side gap in the picture.

Overall, the 14/100 score reflects a soft market with flat-to-declining price momentum, elevated days on market, and frequent price reductions. It is not a sharp downturn, but it clearly favors buyers over sellers.

Key Trends

First, price momentum has stalled and turned slightly negative. The 12-month momentum of 0.27% is effectively flat, while the 3-month momentum of -0.89% points to recent softening. The year-over-year home value change is reported as a decline of $1, reinforcing a flat-to-down price environment.

Second, selling conditions are slow. There are 1,946 homes for sale, median days on market is 81 days, and 18.8% of listings have had a price cut. That means nearly one in five sellers has reduced the asking price, a sign of limited buyer urgency.

Third, affordability is tighter than the state average. St. George’s median home value of $526,381 is close to the state average of $534,582, but its median household income of $76,411 is far below the state average of $91,750. This creates a larger price-to-income burden locally. Meanwhile, the rent index of $1,873 is well above the state average of $1,405, which may push some residents toward renting but also makes rental costs elevated.

Fourth, the labor market remains stable, with unemployment at 3.7% compared with 3.6% statewide. The housing softness does not appear to come from a weak job market but rather from affordability and demand constraints.

Who Is This Market For

This market is best suited to patient buyers and rental-focused investors. The rent index of $1,873 is significantly above the state average of $1,405, which may support rental demand. However, with a median home value of $526,381 and a 3-month price momentum of -0.89%, investors should not count on short-term appreciation; returns would need to come mainly from rental income.

First-time buyers earning near the local median income of $76,411 may struggle to qualify for a median-priced home, since local home values are near the state average while incomes are not. Move-up buyers with existing equity may find opportunities among the 1,946 homes for sale and the 18.8% of listings with price cuts, especially given the 81-day median time on market. Sellers who are also buyers should plan for a slower sale. Overall, this market favors those with cash, equity, or patience rather than short-term flippers.

Outlook

The near-term outlook is soft but not sharply negative. The 3-month home value momentum of -0.89%, flat 12-month momentum of 0.27%, 81-day median days on market, and 18.8% share of listings with price cuts all point to continued buyer advantage. With 1,946 homes for sale, sellers may need to remain flexible on price. The rent index of $1,873 may support rental interest, but the local median household income of $76,411, well below the state average of $91,750, could limit purchase-price growth. Population growth is not available, so a demographic demand surge cannot be factored in. If current trends persist, St. George is likely to see flat to modestly lower home values and extended selling times rather than rapid appreciation or sharp declines.