It’s hard to believe that it has been over 5 years since the housing market bubble burst but, as we begin this new year, it is good to continue to see market data that supports a St Louis housing market recovery is underway!
As we have been reporting here on St Louis Real Estate News, over the past few months we have seen a solid recovery trend in the St Louis real estate market. Home prices have increased as have home sales, the new home market continues to make progress with new home construction and sales on the rise and distressed home sales (foreclosures, REO’s, etc), which cause downward pressure on home prices and make a sustained recovery difficult, are on the decline.
St Louis homes are selling for higher percentage of list price. As the chart below shows, homes in St Louis sold for a median of 97.2% of the list price at time of sale in 2013, the highest percentage since 2007, when homes sold for 97.5%
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