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Thousands of Potential Home Buyers Are Coming to St. George
Are You Ready To Sell?
Thousands are coming, and if you're ready to sell your home, contact a realtor who will sell it for top dollar!
Southern Utah Home Sellers May Want to Sell Sooner Than Later
The Southern Utah real estate market may be heading toward an oversupply situation, potentially leaving sellers in a difficult position. Recent data from the Utah Association of Realtors indicates that inventory levels in Washington County have increased more than 20% year to date.
So What Does This Mean For Sellers?
Increased market saturation could soon result in longer selling times and potential price reductions. This increase in homes on the market, combined with slow declining interest rates, may reduce demand, further compounding the issue.
Sellers are advised to act quickly or risk holding on to properties longer than anticipated, potentially lowering prices to attract buyers.
While home values have risen sharply in recent years, this oversupply could bring a correction in prices, especially if more homes continue to flood the market without sufficient buyer demand to match.
The Good News
The good news is, now is the best time to put your house on the market for many reasons:
You are at the beginning of the inventory ramp-up.
The weather is cooling down, and more people are looking for homes.
There are upcoming events, including the PGA Tour, the St. George Marathon, and The Huntsman Senior Games, bringing thousands of new potential buyers to Southern Utah.
Winter is moving in, and those wanting to escape the cold want to move to Southern Utah.
Although there is no crystal ball on what the future holds for the Southern Utah housing market, based off what we've seen,will most likely continue to grow in size.
Contact your local realtor and they will best be able to help you navigate the ever-changing real estate market.
For further data, you can access local real estate statistics at the Utah Association of Realtors
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