Southern Utah Market Update

Current Market Snapshot

Here’s what the data is showing in Southern Utah in mid-2025.

Metric	What’s Happening
Home Prices / Valuation	Prices have generally appreciated, but the rate of growth is slowing. In places like St. George, the median home value is in the mid-$500,000s. Zillow reports a slight decline of ~0.4% year-over-year for average home value in Saint George.
Inventory / Active Listings	Inventory is rising. For example, Cedar City’s active listings increased from ~224 in June 2024 to ~337 in June 2025. Many homeowners who had been holding off on listing due to rate concerns are now listing.
Sales Volume & Pending Sales	Closed home sales are down a bit year-over-year, but pending listings are increasing. In Washington County, closed listings are slightly lagging, while pending/new listings are up.
Absorption / Market Balance	The market is slowly shifting toward more balanced territory. There is less acute seller’s-market pressure than in past years. More homes are staying longer on the market; buyers are seeing more choices.
Interest Rates / Financing Pressure	Still a constraint. Rates remain elevated enough that affordability is tighter. Some expectation they might ease a bit, which tends to spur more activity.
Luxury Segment	The higher-end market remains relatively strong. Some reports show growth in luxury closings and prices.

Slower Appreciation: Instead of double-digit gains, growth is more modest and sometimes flat or slight decline in certain submarkets.
More Choice for Buyers: Increased supply gives buyers more leverage — more options, possibly more negotiating power. Incentives or seller concessions are becoming more common in some cases.
Seller Expectations Adjusting: Sellers are having to calibrate their pricing and marketing more realistically. Overpricing is less well tolerated and homes that don’t align with buyer value (condition, location, features) are languishing.
Pipeline Activity: Although closed sales are down compared to last year, pending transactions suggest some rebound in activity.

Here’s what these trends mean, especially given your role advising families in transitions or downsizing.

If someone needs to sell, pricing correctly and staging/marketing well remain essential. There’s less tolerance for overpriced or poorly presented homes.
For buyers, this might be a more favorable window: rising inventory + smaller rate relief can yield both more options and better negotiation opportunities.
For downsizers or estates, properties that are in good shape, in desirable areas, will still hold value best; those needing updates or in less advantageous locations may be more exposed to price pressure.
Monitor mortgage rate movements carefully — even small decreases can shift sentiment (both from sellers listing and buyers getting off the sidelines).
Keep your eye on pending/inventory data: those are leading indicators. If pending sales keep rising, we may see closed volume pick up later in the year.

Here’s what I believe we’ll likely see in your market:

Modest growth in home values overall, but uneven — stronger in desirable/luxury neighborhoods, flatter or slight declines in fringe or less‐upgraded inventory.
Slight easing in interest rates (though probably not dramatic), which helps marginal buyers.
Continued increase in inventory — more listings coming online to satisfy sellers who delayed putting homes on the market.
More negotiation by buyers: concessions from sellers (closing costs, repairs, flexible close dates) becoming more standard in some submarkets.
Luxury properties may outperform lower end in terms of value retention, as those buyers are less rate-sensitive.