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St. Louis Real Estate Search

 

St Louis Home Sales Increase in December; Inventory down to near normal level

Dennis Norman

St Louis home sales in December increased 2.3 percent from the month before and were up 3.3 percent from a year ago.  The increase in St Louis home sales follows suit with the trend in U.S. home sales as reported today by the National Association of REALTORS® which shows existing home sales in December were at at a seasonally adjusted-annual rate of 4.61 million units, an increase of 5.0 percent from the month before and an increase of 3.6 percent from a year ago.

St Louis Home prices decline to lowest point since January 2011….

While home prices in the U.S. were on the rise in December, increasing 2.3 percent from the month before, St. Louis home prices fell slightly in December to a median price of $115,000, down from $116,000 the month before.  St. Louis home prices declined almost 13 percent (12.9) from December 2010 when the median home price was $132,000 while U.S. home prices declined only 2.5 percent during the same period.

Inventory of Homes for sale approaching “normal” levels….

Currently, there are 11,483 active listings in the St Louis areas included in my report (City of St Louis and Counties of St Louis, St Charles, Jefferson and Franklin) which, based upon December’s sales, works out to a 6.18 month supply which is getting close to what the inventory should be in a “normal” market.  On a national level the supply is 6.2 months.

St Louis home sales in December increased 2.3 percent from the month before and were up 3.3 percent from a year ago.  The increase in St Louis home sales follows suit with the trend in U.S. home sales as reported today by the National Association of REALTORS® which shows existing home sales in December were at at a seasonally adjusted-annual rate of 4.61 million units, an increase of 5.0 percent from the month before and an increase of 3.6 percent from a year ago.

Data includes City of St. Louis and Counties of St. Louis, St. Charles, Jefferson and Franklin. Source: MARIS.

 

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