Summary
- 🏠 Sold Listings: 354 in March 2025 (10% decrease from last year)
- 📈 Pending Listings: 492 last month (19% increase year-over-year); 7% increase year-to-date
- 📊 Active Listings: Over 1,700 (31% increase from last year)
- 🆕 New Listings: 628 last month (24% increase from last year); nearly 20% increase year-to-date
- 💰 Average Sales Price: $678,000 (8% increase, nearly $50,000 higher than last year)
- 📌 Median Sales Price: $530,000 (5% increase, about $25,000 higher than last year)
- 📉 Interest Rates: Down to 6.725% (lowest point this year), which could drive prices higher if rates continue dropping
Full Report
As we move into April 2025, it’s time to take a closer look at the Southern Utah real estate market and review what’s been happening, particularly by examining the sales activity from March. Here’s your latest update with the numbers and trends you need to know.
📉 Sold Listings See a Slight Decline
In March 2025, a total of 354 homes were sold, compared to 394 in March of last year — a 10% decrease year-over-year.
Year-to-date, closed listings are down by nearly 2%, indicating a small cooling in finalized transactions.
🔥 Pending Listings Are on the Rise
While closed sales dipped slightly, pending listings — properties that have accepted offers but haven’t yet closed — saw a notable increase:
- 492 pending listings in March 2025, up from 412 the same month last year (19% increase).
- Year-to-date, pending listings are up 7%.
This suggests more transactions are in the pipeline, and we can expect a rebound in closed sales in the coming months.
🏡 Inventory is Growing
Active listings (homes currently on the market) have risen significantly:
- Just over 1,700 listings are active now, compared to 1,300 a year ago — a 31% increase.
This spike is largely due to a surge in new listings rather than a slowdown in sales.
🆕 New Listings Surge
In March 2025:
- 628 new homes were listed, compared to 505 in March 2024 — a 24% increase.
- Year-to-date, there’s been nearly a 20% increase in new listings.
The higher inventory is driven by sellers entering the market, not by properties lingering unsold.
💰 Home Prices Continue to Climb
Average Sales Price
- March 2025: $678,000
- March 2024: $627,000
- That’s an 8% increase, or nearly $50,000 year-over-year.
Median Sales Price
- March 2025: $530,000
- March 2024: $507,000
- This represents a 5% increase, or about $25,000.
📉 Interest Rates Drop – What This Means
Interest rates have dropped to 6.725%, the lowest point of the year so far.
If this trend continues, we could see home prices continue to rise, as lower rates tend to drive more buyer activity and increased competition.
🏡 Thinking About Buying or Selling?
Whether you’re looking to buy, sell, or simply explore your options in the St. George area, our team is here to help.
Don’t hesitate to reach out — we’re happy to answer your questions and guide you through the market with confidence.
📞 Contact the Ames Team Realty today — we’d love to hear from you!