Saint George, Utah Housing Market

How much can you negotiate in Saint George?

Only 33 out of every 100 homes for sale have found a buyer. The other 67 are still waiting. Your offer may be the only one on the table. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Saint George home takes 76 days to find a buyer. Half of them take even longer. That is 18% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 824 homes for sale in Saint George. That is 7.2 times the tightest month on record, but below the peak of 858. Supply is steady against last year.

What to do about it

• Search Saint George homes listed 90+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Saint George?

Asking prices are 25.0% below their Mar 2022 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Saint George prices rose in only 75 of the last 108 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.

There is no rush. Prices are still coming down. Watch the homes you like. Come back after they cut. Let the seller move first.

Who will rent from you in Saint George?

In Saint George, 33 out of every 100 households rent. Most own their home. That share has held steady for five years. Saint George added about 1,800 renter households in five years. Renter households here average 2.8 people. Families rent here. Buy bedrooms, not studios.

Households grew 20% in five years. The housing stock grew 18%. Demand is outrunning supply. 15.2% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Saint George household earns $80,987 a year. Incomes here have grown 6.6% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 7.0 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. A tenant on the median income can pay about $2,025 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Saint George deal with?

• Price growth to assume — +2.3%/yr. Saint George grew 6.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Saint George grows about 2.3% a year. That is the number to type in. Prices fell 1.0% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 3. A typical home takes 76 days to sell. Budget that long when you exit or refinance. It is 18% slower than a year ago.
• Odds you cut your price to sell — 1 in 4. About 23% of homes on the Saint George market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $277/sqft. The typical Saint George listing shrank from 2,435 to 2,157 sqft since Jul 2016. So median price hides real growth: 92% per sqft versus 56% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +2%. The number of homes for sale barely moved in a year. Today's comps are a fair guide to your exit.
• Price-to-income ratio — 7.0×. A typical home costs 7.0 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. Incomes are rising faster than home prices. Affordability is improving.
• Tenant rent ceiling — $2,025/mo. 30% of the median household income of $80,987. Rents above this line shrink your tenant pool fast.

Is Saint George a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Saint George right now. 33 out of every 100 homes for sale have a buyer, 23% of sellers have cut their price, and a typical home takes 76 days to sell.

Are Saint George home prices going up or down?

Asking prices are 25.0% below their Mar 2022 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What price growth should I assume for Saint George?

Assume +2.3% a year. Saint George grew 6.8% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Saint George grows about 2.3% a year. That is the number to type in. Prices fell 1.0% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Saint George?

A typical Saint George home takes 76 days to find a buyer. Half of them take even longer. That is 18% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.

Is Saint George a renters' market or an owners' market?

In Saint George, 33 out of every 100 households rent. Most own their home. That share has held steady for five years. 15.2% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

What rent can Saint George tenants afford?

A tenant on the median income can pay about $2,025 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Saint George household earns $80,987 a year.