Is That a Good Deal? 8 Signs a Home Is Underpriced (or Overpriced)

When you're shopping for a home in St. George, you want to know whether a property is truly a “good deal." That can feel tricky in a fast-moving, highly desirable market like ours. Some homes are priced aggressively to drive interest. Others are priced high because sellers are testing the waters. Occasionally, a home list price signals deeper issues buyers need to understand before making an offer.

To help you make sense of it all, here are the top signs a home is underpriced or overpriced—and how to tell the difference so you don’t overpay or miss out on a great opportunity.

1. The Home Is Underpriced If: It Has an Immediate Surge of Attention

In St. George, well-priced homes usually get quick interest, but if a listing gets multiple showings or several offers on day one, it may be intentionally underpriced. Sellers sometimes do this to spark a bidding war or create urgency.

If the price seems surprisingly low compared to similar homes in Washington, Little Valley, Entrada, or Desert Color, we will help you analyze the comps carefully. You want to understand if the buyers are simply motivated to get a bidding war going, or if it's a red flag. 

2. The Home Is Overpriced If: It’s Been Sitting on the Market Too Long

A long “days on market” number is often one of the clearest signs a home is overpriced. In popular areas like St. George, Santa Clara, and Washington Fields, most well-priced homes move quickly. If a property lingers for weeks with price drops, it likely started too high—or has issues buyers are unwilling to accept at the list price.

3. The Home Is Underpriced If: Comparable Homes Recently Sold Higher

If similar homes in the neighborhood—same size, age, and condition—recently sold for noticeably more, that’s a red flag that the home may be priced low. Sometimes sellers want a fast sale, are relocating, or don’t realize the current value of their home, but others have intentionally priced low becuase of a problem with the home. 

For some buyers, this isn't a dealbreaker becuase the price reflects the condition. Just understand that you may not be comparing apples to apples when you're looking at similar homes that recently sold. 

4. The Home Is Overpriced If: It’s Significantly Higher Than Neighboring Listings

A home priced well above others in the same subdivision or community (SunRiver, Bloomington Hills, or Green Valley, for example) should be examined carefully. Unless it offers substantial upgrades, a premium lot, or unique luxury features, the seller may simply have unrealistic expectations. Of course you can offer a price that seems more reasonable, but sellers with this mindset can be quite difficult to work with. 

5. The Home Is Underpriced If: The Listing Mentions “Offers Reviewed on X Date”

This is a common strategy when a seller is intentionally pricing low to attract lots of interest. It’s helpful for controlling the timeline, and it often signals the seller expects multiple offers well above list price.

6. The Home Is Overpriced If: The Photos Don’t Match the Price

If the finishes look dated, the layout feels awkward, or the condition isn’t on par with the price tag, the home is unlikely to sell at list price. In St. George’s competitive market, buyers are savvy—beautiful presentation and updated spaces matter.

In other words, the sellers may be doing some wishful thinking but haven't updated their home to be on par with the neighbors. If you want to move forward with the home it's helpful to know what you're dealing with.  

7. The Home Is Underpriced If: It Needs Minor Cosmetic Work

Sometimes homes with small aesthetic issues are priced below market value because they don’t photograph well or sellers don’t want to make minor updates. There may also be a feature that some buyers find to be a deal breaker, but isn't a problem for you. Paint, flooring, lighting, or landscaping upgrades can be inexpensive fixes that offer major returns. These homes can be great opportunities if you’re willing to do a little work.

At the same time, a home that isn't selling quickly because of a less desirable feature like an odd kitchen layout or a single bathroom might be something you can live with to get a great deal. 

8. The Home Is Overpriced If: The Seller Is “Testing the Market”

Some sellers price high to see if they can get a premium—especially in desirable areas near golf courses, trail systems, or new developments. If the agent’s remarks mention flexibility, “motivated seller,” or “bring all offers,” it may be a sign they overshot and are now open to negotiation.

How to Know the Real Value: Don’t Rely Solely on the List Price

A home’s list price is a starting point—not always an accurate reflection of what it’s worth. The best way to know if a St. George home is under- or overpriced is by reviewing:

• Neighborhood comps
• Days on market
• Condition vs. competition
• Location desirability
• Market trends in that specific micro-area

Local expert Erika Rogers says, "Even two neighborhoods only a mile apart can behave very differently in St. George’s diverse market. You really need a local real estate agent who understands the nuance of the market to be prepared to really understand the value of the homes you're looking at."

Spotting whether a home is priced correctly can save you thousands—and help you avoid emotional decisions in a fast-moving market. With the right guidance, you can quickly learn which homes are hidden gems and which ones aren’t worth the asking price.

We can create a custom St. George price analysis for any home you’re considering, so you can be sure you're making a smart investment. Contact us any time to learn more about buying a home in St. George.