The latest data from the jefferson county update real estate market shows a continued upward trend in home prices. According to the chart below, which is available exclusively from MORE, REALTORS®, the median sold price for homes in Jefferson County during December 2024 was $265000, a 3.92% increase from the previous year. This also marks a 2.32% increase from November 2024, when the median sold price was $259000.
The median list price for homes in the jefferson county update remained steady at $259900, showing no change from December 2023. However, there were 170 home sales in December 2024, a slight decrease of 0.58% from the previous year.
This data indicates a strong and stable real estate market in Jefferson County, with increasing home prices and steady demand. As we move into 2025, it will be interesting to see how these trends continue and what opportunities arise for both buyers and sellers. For all your real estate needs in Jefferson County and the greater St. Louis area, trust the experienced team at MORE, REALTORS®.
The Supreme Court yesterday declined to review the National Association of REALTORS’ (NAR) appeal to block the Department of Justice (DOJ) from resuming its antitrust investigation. This decision allows the DOJ to reopen its probe into NAR’s practices, including the Clear Cooperation Policy and the Participation Rule, both of which have been criticized for limiting competition in the real estate industry.
The Clear Cooperation Policy requires listing brokers to submit a property to their Realtor-affiliated MLS within one business day of marketing it publicly. This policy was intended to ensure transparency but has faced allegations of reducing competition and restricting options for consumers. The Participation Rule, which NAR recently eliminated as part of a separate settlement, previously required listing brokers to make a blanket offer of compensation to buyer brokers to list properties in the MLS. The DOJ had issued a subpoena in 2021 requesting extensive documentation on these rules, signaling its intention to assess whether they hindered fair market practices.
For St. Louis homeowners and investors, the outcome of this investigation could lead to significant changes in how properties are marketed and sold. It’s a reminder of the evolving landscape in real estate and the importance of staying informed. As always, MORE Realtors INLINE TEXT Link – goes to agent website MORE, REALTORS® is here to provide guidance and insights to help you navigate these developments. Contact us today to learn how we can help you with your real estate needs.
Are you looking to buy or sell a home in the St. Louis metropolitan area? If so, you’ll want to pay attention to the latest data on the fastest selling school districts in the area. According to recent statistics, the top three districts with the shortest average time on the market are Wood River-Hartford DIST 15 in Wood River, IL, Kingston K-14 in Unincorporated, MO, and Pontiac-W Holliday DIST 105 in , IL.
With only 6 active listings and an average of 19 days on the market, Wood River-Hartford DIST 15 takes the top spot. This district boasts a diverse range of homes at an affordable average list price of $104,467. Coming in at a close second is Kingston K-14, with 9 listings and an average of 21 days on the market. Families looking for a more rural setting will find Kingston K-14 in Unincorporated, MO to be an attractive option. Rounding out the top three is Pontiac-W Holliday DIST 105, with 8 listings and an average of 37 days on the market. This district offers a mix of suburban and rural neighborhoods, providing something for every family.
For the complete list of the fastest selling school districts in the St. Louis metro area, be sure to check out MORE, REALTORS®. Our team of experienced agents can help you navigate the market and find the perfect home in one of these highly sought-after districts. Don’t miss out on the opportunity to buy or sell in these fast-moving areas. Contact MORE, REALTORS® today.
St. Louis lawmakers have introduced three significant bills aimed at increasing accountability for owners of vacant and deteriorated properties, building on the recent approval of Proposition V, which lifted a decades-old cap on fines for ordinance violations. With nearly 14,000 city properties having outstanding code violations and over 24,000 vacant properties in the city, these bills seek to address issues that have long plagued St. Louis neighborhoods.
The proposed legislation includes Board Bill 169, introduced by Alderman Michael Browning, which raises fines for vacant and deteriorated properties from $25 for the first violation to $100, with repeat offenses escalating to $250 or more. Board Bill 170, introduced by Alderwoman Daniela Velazquez, sets penalties for unsecured buildings at $500 for the first offense and $1,000 for repeat offenses. Additionally, it establishes a $30,000 fine or 50% of the property’s appraised value—whichever is greater—for unpermitted demolitions, with proceeds going toward the city’s Vacant Building Initiative Fund. Meanwhile, Alderwoman Pamela Boyd’s Board Bill 171 introduces a mechanism to add unpaid fines and abatement costs to property tax bills as liens, simplifying collections and ensuring enforcement. Together, these measures aim to deter neglect, reduce vacancy, and revitalize neighborhoods.
These new bills represent a direct effort to address the challenges highlighted during the campaign for Proposition V. St. Louis investors and property owners should take note of these changes as they signal stricter enforcement of property ordinances.
During the 12-month period ending November 30, 2024, a total of 3,756 building permits were issued for new single-family homes in the St. Louis area. This marks a 2.47% decrease from the previous 12 months, which recorded 3,851 permits. According to the latest data from the Home Builders Association of St. Louis & Eastern Missouri (St. Louis HBA), four of the seven counties covered in the report experienced an increase in permits. Lincoln County continues to show great growth in new construction with an increase nearly 82%.
St Louis New Home Building Permits – November 2024
(click on table below for live interactive charts and more data)
In the world of residential real estate, there’s an interesting contradiction that’s worth exploring. Investors spend significant time, money, and effort targeting homeowners before their properties ever reach the MLS (Multiple Listing Service). Why? Because off-market properties often yield the best deals, allowing investors to avoid competition and negotiate favorable terms. Yet, at the same time, we see a growing trend among listing agents—professionals with a fiduciary duty to act in their clients’ best interests—choosing strategies that keep properties off the MLS as well. This curious alignment of methods raises important questions about the motives and implications of such practices.
For investors, the rationale is clear: they’re working in their own best interests. By finding sellers who value speed or convenience over top dollar, investors can purchase properties below market value. But for a listing agent, whose role is to maximize exposure and achieve the best possible outcome for their seller clients, the same approach seems counterintuitive. Why would an agent limit market exposure, potentially reducing competition and sale price, when their duty is to act in the seller’s best financial interest?
Of course, there are exceptions. In rare cases—such as when selling a high-profile celebrity’s home—privacy might outweigh the importance of a bidding war. Keeping the listing quiet in such scenarios can make sense. However, in markets like St. Louis, this isn’t a common occurrence. For most sellers, achieving the highest possible price is the priority, and the MLS is designed to do just that by exposing properties to the widest audience.
This raises questions when we look at the local numbers. As of January 8, in the counties in Missouri that have listings in MARIS, the regional MLS for the area, there were a total of 15,199 active listings on the market, including those already under contract or pending sales. Of those, 1,275—or 8.39%—were office exclusive and excluded from the MLS. Nearly one in 11 listings are excluded, which seems like a surprising number of “celebrities.” Given that only 76 of the MLS-listed properties had prices over $2 million and the median price was $300,000, it’s unlikely that a large percentage of these listings are celebrity homes. For the Illinois market in MARIS, the numbers are better, with 3,568 active listings (including under contract) and only 149 of those—or 4.18%—being office exclusive.
Digging deeper, there are three counties in Missouri with significantly higher percentages of office-exclusive listings. St. Louis County leads with over 17% of listings being office exclusive, followed by St. Charles County with over 11%, and the City of St. Louis with over 10%. These numbers highlight that the practice is more prevalent in certain areas, raising even more questions about whether these exclusions serve the best interests of sellers in those markets.
So, where does this leave us? Should listing agents continue adopting strategies that mimic investor tactics, even if it means potentially sacrificing their clients’ best financial outcomes? And how do we, as an industry, reconcile the increasing popularity of office-exclusive listings with the ethical and fiduciary obligations of representation? These are questions that deserve thoughtful discussion.
At MORE, REALTORS®, we pride ourselves on transparency and always putting our clients’ best interests first. Whether you’re buying, selling, or investing, our team is here to provide expert guidance tailored to your unique goals.
The metro east real estate market continues to show strong growth as we enter the new year. According to the latest data from MORE, REALTORS®, homes in the metro east area sold for a median price of $185,000 in December 2024. This represents a 2.78% increase from the median sold price of $180,000 in December 2023. The chart below, available exclusively from MORE, REALTORS®, illustrates this steady growth in median sold prices over the past year.
However, there was a slight decrease in median sold price compared to the previous month, with December 2024 seeing a 10.41% decrease from November 2024 when the median sold price was $206,500. This could be attributed to seasonal fluctuations in the market.
The median list price for homes in the metro east area also saw a 5.00% increase from $180,000 in December 2023 to $189,000 in December 2024. This suggests that sellers are confident in the market and are able to list their homes at higher prices.
Despite the slight decrease in median sold price, home sales in the metro east area remained steady with 517 homes sold in December 2024. This is only a 1.34% decrease from December 2023 when 524 homes were sold.
As we move into 2025, the metro east real estate market continues to show promising signs of growth. With steady increases in median sold and list prices, as well as a consistent number of home sales, it is an opportune time for both buyers and sellers in the metro east area. For more information on the current market trends and to find your dream home in the metro east, contact MORE, REALTORS® today.
As of December 2024, the real estate market in St Charles County has seen a slight increase in median sold price compared to the previous year. According to the latest data available exclusively from MORE, REALTORS®, homes in the area sold for a median price of $360,000, a 0.63% increase from December 2023 when the median sold price was $357,750.
However, there was a slight decrease in median sold price from the previous month, November 2024, when the median sold price was $362,500. This represents a decrease of 0.69% from the current month’s median sold price.
The median list price for homes in St Charles County saw a 4.29% increase from December 2023, rising from $350,000 to $365,000. Despite this increase, there were 296 home sales in December 2024, a 5.73% decrease from the 314 home sales in December 2023.
These numbers suggest a stable market in St Charles County, with a slight increase in prices compared to the previous year. As we continue into the new year, it will be interesting to see how the real estate market in this area evolves. Stay tuned for further updates from MORE, REALTORS®.
The Department of Justice (DOJ) has expanded its antitrust lawsuit against RealPage by naming six of the nation’s largest landlords as defendants, according to the amended complaint filed recently. These landlords are accused of participating in a coordinated pricing scheme that relied on sensitive competitive data and algorithmic pricing tools to maintain elevated rents, impacting millions of renters across the U.S.
The landlords named in the amended complaint—Greystar Real Estate Partners, Blackstone’s LivCor, Camden Property Trust, Cushman & Wakefield, Willow Bridge Property Company, and Cortland Management—operate more than 1.3 million rental units nationwide. The DOJ alleges that these landlords not only utilized RealPage’s controversial algorithm but also engaged in direct communication and user group discussions to share sensitive pricing strategies. For example, the DOJ highlighted instances where Camden executives communicated with competitors about planned rent increases and occupancy strategies.
In a move to settle with the DOJ, Cortland agreed to cooperate with the investigation, cease using competitor-sensitive data, and stop relying on common pricing algorithms. This consent decree is subject to a 60-day public comment period, after which the court may approve the settlement. The amended lawsuit underscores the DOJ’s commitment to ensuring a competitive housing market, stating, “Landlords must not prioritize profits over fair housing opportunities for renters.”
The real estate market in the St. Louis Metropolitan Statistical Area (MSA) saw continued growth in December 2024, with a median sold price of $260,000. This represents a 9.24% increase from December 2023, when the median sold price was $238,000. However, there was a slight decrease of 1.89% from November 2024, when the median sold price was $265,000. These figures are based on data exclusively available from MORE, REALTORS®.
The median list price in December 2024 also saw an increase of 8.33%, rising from $240,000 in December 2023 to $260,000. This indicates strong demand for homes in the St. Louis MSA.
Despite the increase in prices, there were 2147 home sales in December 2024, a 9.29% decrease from December 2023. This could be attributed to the holiday season, as well as the ongoing supply shortage in the market.
Overall, the St. Louis MSA real estate market continues to be a seller’s market, with rising prices and strong demand. If you’re looking to buy or sell a home in the area, contact MORE, REALTORS® for expert guidance and assistance.
The real estate market in Franklin County, Missouri continues to show strong growth as we enter the new year. According to the latest data from MORE, REALTORS®, homes in the Franklin County area sold for a median price of $255,000 in December 2024. This represents a 10.87% increase from December 2023, when the median sold price was $230,000. Furthermore, last month’s median sold price of $255,000 also saw a 7.94% increase from November 2024, when the median sold price was $236,250.
The median list price in Franklin County also saw a significant increase, reaching $275,000 in December 2024. This is a 19.59% increase from the median list price of $229,950 in December 2023. However, despite these rising prices, there were 69 home sales in Franklin County in December 2024, which is a slight decrease of 6.76% from 74 sales in December 2023.
As seen in the chart below, exclusively available from MORE, REALTORS®, the Franklin County real estate market has been steadily increasing over the past year. This is great news for both buyers and sellers, as it indicates a strong and stable market. If you’re looking to buy or sell a home in Franklin County, now is a great time to do so. Contact MORE, REALTORS® for expert guidance and assistance with all your real estate needs.
The Risks of HELOC Wire Fraud: A Case Study for St. Louis Homeowners
A recent lawsuit, Skertich vs. Shellpoint Mortgage Servicing and Alliant Credit Union, highlights alarming vulnerabilities in Home Equity Lines of Credit (HELOCs) when it comes to wire fraud. According to the complaint, a fraudulent wire transfer amounting to $425,650 was authorized using counterfeit documents and improper verification processes. Despite clear red flags, such as mismatched signatures and suspicious IP addresses, the financial institutions involved processed the transaction. This serves as a stark reminder for homeowners in St. Louis and beyond to exercise caution with HELOC accounts.
The case emphasizes the importance of robust security protocols. The plaintiffs allege that the defendants failed to have commercially reasonable systems in place to detect and prevent fraudulent activity. This situation escalated further when the victims were held liable for the unauthorized transaction, leading to increased balances and potential foreclosure actions. Homeowners utilizing HELOCs must regularly monitor account activity and promptly report any discrepancies.
For St. Louis area homeowners, this case is a reminder to protect your equity by using secure communication channels with your lender, reviewing monthly statements thoroughly, and inquiring about the security measures your provider has in place. The full complaint, detailing the allegations and implications, can be reviewed below.
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If you’re navigating the complexities of homeownership in St. Louis, MORE, REALTORS® is here to guide you with expert advice tailored to your needs. Contact us today to stay informed and secure in your real estate journey.
As we welcome the new year, it’s a perfect time to reflect on the past and set our sights on the opportunities ahead. Whether you’re planning to buy your dream home, sell your current property, or invest in the thriving St. Louis real estate market, 2025 promises to be an exciting year full of possibilities.
The St. Louis real estate market has remained a dynamic and diverse one, with opportunities for homeowners, buyers, and investors alike. From charming historic neighborhoods to bustling new developments, there’s something for everyone. As we kick off the year, now is the perfect time to consider your real estate goals and explore how you can make the most of the market in 2025.
At St. Louis Real Estate News, powered by MORE, REALTORS®, we’re committed to keeping you informed and connected to the latest market trends, insights, and opportunities. Whether you’re ready to make a move or just starting to explore your options, our team wishes you a happy, healthy, and successful new year! Here’s to making 2025 a year of new beginnings and exciting ventures in real estate.
The Consumer Financial Protection Bureau (CFPB) has filed a federal lawsuit against Rocket Homes Real Estate LLC and the Jason Mitchell Group, alleging violations of the Real Estate Settlement Procedures Act (RESPA). The complaint, filed in the Eastern District of Michigan, accuses the defendants of participating in a scheme involving kickbacks and steering practices that compromised the trust consumers place in their real estate agents.
According to the CFPB’s allegations, Rocket Homes pressured real estate agents and brokers to steer clients toward its affiliate, Rocket Mortgage, and other related services, often at the expense of offering clients competitive alternatives. The agency contends that such practices not only violated RESPA’s prohibition on kickbacks but also led to higher mortgage rates and fees for clients compared to those who shopped around independently. Additionally, the Jason Mitchell Group is accused of prioritizing referrals from Rocket Homes in exchange for providing referrals to Rocket Mortgage and Amrock, Rocket’s title and escrow service.
The full complaint, which provides detailed allegations and examples, is available for review below. For St. Louis area buyers, this case underscores the importance of working with agents who prioritize transparency and your best interests. If you’re looking for a dedicated team, MORE, REALTORS® is here to assist you in navigating the complexities of the market.
As we approach this special time of year, we want to wish all our readers a very Merry Christmas and a Happy Hanukkah. May your celebrations be filled with joy, warmth, and the love of family and friends.
Here’s to a season of peace, happiness, and prosperity for you and your loved ones. Thank you for allowing us to be part of your journey this year, and we look forward to serving you in the year to come!Christ
As of November 2024, the St Louis City real estate market continues to show strong growth and stability. According to data exclusively available from MORE, REALTORS®, the median sold price for homes in the St Louis City update was $205,000, representing a 3.80% increase from November 2023 when the median sold price was $197,500. However, this is a 4.65% decrease from October 2024 when the median sold price was $215,000.
The median list price for homes in the St Louis City update also saw an increase, rising to $209,000 in November 2024, a 4.55% increase from $199,900 in November 2023. Despite these increases, there were 215 home sales in the St Louis City update in November 2024, a 5.70% decrease from 228 in November 2023.
Overall, the St Louis City real estate market remains strong and competitive, with increasing median sold and list prices. This data is a promising sign for both buyers and sellers in the St Louis area. Stay tuned for more updates on the St Louis City real estate market, exclusively from MORE, REALTORS®.
The real estate market in St Louis County continues to thrive, with homes selling for a median price of $268,000 in November 2024. This marks a significant increase of 15.27% from November 2023, when the median sold price was $232,500. However, there was a slight decrease of 10.07% compared to October 2024, when the median sold price was $298,000.
According to the chart below, exclusively available from MORE, REALTORS®, the median list price for homes in St Louis County was $269,900 in November 2024. This represents a 17.40% increase from November 2023, when the median list price was $229,900.
Despite the increase in prices, there were 853 home sales in St Louis County in November 2024, a decrease of 16.21% from the same time last year. This could be due to a decrease in inventory or a decrease in demand.
Overall, the St Louis County real estate market remains strong and is a great place for buyers and sellers alike. If you’re looking to buy or sell a home in St Louis County, trust the experts at MORE, REALTORS® to guide you through the process.
A recent LendingTree survey sheds light on Americans’ sentiment toward the housing market, with 38% of respondents believing the market is at risk of crashing in the next year. This concern cuts across various demographics, reflecting broader economic uncertainty.
The survey, conducted in October 2024, highlights generational and financial divides in perceptions. Younger generations and households with lower incomes are more likely to fear a downturn, while higher-income earners and older respondents appear less concerned. With headlines still buzzing about affordability challenges and mortgage rates, these results suggest lingering worries about market stability.
As always, whether the market soars or dips, having an experienced professional on your side is key. If you’re looking to buy or sell in the St. Louis area, the team at MORE, REALTORS® can guide you through today’s market with confidence.
The full LendingTree survey results are available below.
Percentage of Americans who think the housing market is at risk of crashing in the next year (by demographic)
(click on image below to be taken to live, interactive chart)
Are you in the market to buy or sell a home in the St. Louis metropolitan area? Look no further than the fastest selling zip codes for your next move. According to recent data, the top three zip codes with the shortest average days on market are 63043 in St. Louis, MO, 63074 in St. Louis, MO, and 62095 in Madison-IL, IL.
With only 11 active listings and an average of 30 days on the market, 63043 takes the top spot for the fastest selling zip code in St. Louis. And with an average list price of $273,836, it’s an attractive option for both buyers and sellers. Coming in at a close second is 63074, with 10 listings and an average of 31 days on the market. And for those looking to buy or sell in Illinois, 62095 in Madison-IL offers a competitive market with 9 listings and an average of 38 days on the market.
If you’re interested in seeing the complete list of the fastest selling zip codes in the St. Louis area, head over to MORE, REALTORS®. Our team of experienced agents can help guide you through the process and find the perfect home for you and your family. Don’t miss out on these hot zip codes – start your search today!
The real estate market in Jefferson County continued to show strong growth in November 2024, with the median home price increasing by 6.78% compared to the same time last year. According to the latest data from , homes in the Jefferson County area sold for a median price of $260,000, up from $243,500 in November 2023.
While this represents a significant increase in home prices, it is important to note that there was a slight decrease compared to the previous month. In October 2024, the median sold price was $276,000, making November’s median price a 5.80% decrease. However, this is still a positive sign for the Jefferson County housing market, as it shows a steady and consistent growth in home prices.
The median list price also saw an increase in November 2024, rising by 6.25% from $240,000 in November 2023 to $255,000. This indicates that sellers are confident in the market and are able to list their homes at higher prices.
Despite the increase in home prices, there was a slight decrease in the number of home sales in November 2024. There were 205 home sales in Jefferson County, a 4.21% decrease from the 214 sales in November 2023. This could be attributed to the holiday season, which typically sees a slowdown in the housing market.
Overall, the Jefferson County housing market remains strong and continues to show positive growth. For more information and a detailed breakdown of the data, please refer to the chart below, available exclusively from . If you are looking to buy or sell a home in Jefferson County, now may be the right time to make a move. Contact for expert guidance and assistance in navigating the market.
During the 12-month period ending October 31, 2024, a total of 3,789 building permits were issued for new single-family homes in the St. Louis area. This marks a 3.64% decrease from the previous 12 months, which recorded 3,932 permits. According to the latest data from the Home Builders Association of St. Louis & Eastern Missouri (St. Louis HBA), four of the seven counties covered in the report experienced an increase in permits. Lincoln County continues to show great growth in new construction with an increase of a whopping 154%.
St Louis New Home Building Permits – October 2024
(click on table below for live interactive charts and more data)
Are you looking to buy or sell a home in the St. Louis metropolitan area? If so, you’ll want to pay attention to the fastest selling school districts in the region. According to recent data, Wolf Branch DIST 113 in Illinois takes the top spot with an average of only 16 days on the market for its 3 active listings. This district boasts a desirable location and an average list price of $314,300, making it a hot spot for families looking to settle down.
But Wolf Branch DIST 113 isn’t the only school district with a quick turnaround time. Coming in at a close second is Jefferson Co. R-VII in Unincorporated, MO, with an average of 30 days on the market for its 5 listings. And just a bit further down the list is MOUNT OLIVE DIST 5 in Illinois, with an average of 34 days on the market for its 5 active listings. To see the full list of the fastest selling school districts in the St. Louis metro area, visit MORE, REALTORS® for more information. Don’t miss your chance to buy or sell in these sought-after areas.
As of November 2024, the real estate market in the metro east area showed strong growth with an increase in median sold prices. According to data exclusively available from MORE, REALTORS®, homes in the metro east update sold for a median price of $206000, a significant 21.18% increase from November 2023 when the median sold price was $170000. This also marks a slight decrease of 0.96% from October 2024, when the median sold price was $208000.
The median list price in the metro east update also saw a significant increase of 20.59% from $170000 in November 2023 to $205000 in November 2024. However, there was a decrease in the number of home sales, with 537 recorded in November 2024 compared to 575 in November 2023.
These numbers indicate a strong seller’s market in the metro east update, with high demand and rising prices. It is important for buyers to act quickly and work with a reputable real estate agent, such as MORE, REALTORS®, to navigate the competitive market.
For homeowners looking to sell, now may be a great time to take advantage of the high demand and rising prices. Contact MORE, REALTORS® for a personalized market analysis and expert guidance on selling your home in the metro east area. With our extensive knowledge and experience, we can help you achieve your real estate goals in this thriving market.
The latest data from the St Charles County real estate market is in, and it’s showing positive signs for both buyers and sellers. According to the chart below, exclusively available from MORE, REALTORS®, the median sold price for homes in the update during November 2024 was $360,500. This represents a 3.00% increase from November 2023, when the median sold price was $350,000.
While the median sold price saw a slight decrease of 2.57% from October 2024, when it was $370,000, the overall trend is still on the rise. Additionally, the median list price for homes in the update was $359,900, a 2.86% increase from November 2023’s median list price of $349,900.
In terms of sales volume, there were 360 home sales in the St Charles County update during November 2024, a 4.05% increase from the 346 sales in November 2023. This indicates a healthy and active market for both buyers and sellers.
If you’re in the market for a home in St Charles County, now is a great time to buy. And if you’re considering selling, the market is showing strong demand and increasing prices. Don’t miss out on this opportunity to make a move in the St Charles County real estate market. Contact MORE, REALTORS® today for expert guidance and assistance.
The St. Louis real estate market continues to show strong growth as we head into the end of 2024. According to the latest data from MORE, REALTORS®, the median sold price for homes in the stl msa update was $265,000 in November 2024. This represents a significant increase of 11.60% from November 2023, when the median sold price was $237,450.
However, there was a slight decrease in median sold price from the previous month, with October 2024 showing a median sold price of $277,000. This decrease of 4.33% is likely due to seasonal fluctuations and is not indicative of a larger trend.
The median list price for homes in the stl msa update also saw a significant increase, rising to $265,000 in November 2024. This is a 12.77% increase from November 2023, when the median list price was $235,000.
Despite these increases in prices, there were 2397 home sales in the stl msa update in November 2024, a slight decrease of 7.81% from November 2023. This could potentially be attributed to the ongoing supply shortage in the market.
For a visual representation of these numbers, please refer to the chart below, which is available exclusively from MORE, REALTORS®. As always, our team is dedicated to providing accurate and timely data to help you make informed decisions in the St. Louis real estate market.
For St. Louis homeowners considering selling their homes, the 2024 National Association of Realtors Profile of Home Buyers and Sellers offers valuable insights into current trends. According to the report, the median time a home spends on the market remains a swift three weeks, with 49% of all homes selling within just two weeks. For sellers, this indicates that pricing your home competitively and working with an experienced agent can lead to quick and successful sales.
Additionally, the median sales price continues to align with the listing price, holding steady at 100% of the asking price. This consistency underscores the importance of proper market preparation and strategy. Homes that linger longer on the market often see price adjustments, as highlighted by the data showing 65% of sellers did not reduce their asking price, while 21% made one adjustment.
Finally, homeowners’ motivations for selling reflect the changing dynamics of life. Whether it’s downsizing because a home feels too large (11%), relocating to be closer to family (23%), or moving due to a job relocation (7%), understanding these reasons can help sellers frame their decisions and goals effectively.
If you’re considering listing your St. Louis home, connect with the local experts at MORE, REALTORS® to ensure you’re informed and prepared for a seamless selling experience. The full 2024 NAR report is available below for further insights.
RealPage, Inc., a key provider of software solutions for rental property management, has filed a motion to dismiss the antitrust lawsuits brought against it by the U.S. Department of Justice (DOJ) and several states. These suits allege that RealPage’s revenue management software violates the Sherman Act by encouraging landlords to set higher rents. In its motion to dismiss, RealPage refutes these claims, arguing that its software operates within the bounds of the law and that plaintiffs fail to show sufficient evidence of harm or illegal coordination.
The crux of RealPage’s argument is that their software merely provides aggregated data and recommendations, leaving ultimate pricing decisions in the hands of individual landlords. They maintain that the data analytics tools help landlords operate more efficiently in competitive rental markets, rather than stifling competition as alleged. For rental property owners in St. Louis, this motion highlights the growing scrutiny surrounding automated pricing tools, which are widely used to manage rents effectively in a dynamic market.
While RealPage’s motion seeks to clarify and defend its practices, this case serves as a reminder for St. Louis landlords to carefully evaluate their own pricing strategies and tools. Whether you use software to determine rent adjustments or rely on local market trends, ensuring transparency and compliance with fair housing laws is more important than ever. As this legal battle unfolds, investors may want to keep a close watch on the implications for rental property management technology and regulations.
For tailored advice on navigating legal changes in the St. Louis rental market, the team at MORE, REALTORS® is here to help. Our expertise in market trends and compliance can help you maximize your investments while staying ahead of regulatory challenges.
You can read RealPages motion to dismiss, along with its 35 page brief in support of the motion, below.
As of November 2024, the real estate market in Franklin County has seen a decrease in median sold price compared to the same time last year. According to data exclusively provided by MORE, REALTORS®, homes in the county sold for a median price of $237500, a 3.04% decrease from November 2023 when the median sold price was $244950.
This decrease in median sold price is also reflected in the month-over-month data, with a 6.31% decrease from October 2024 when the median sold price was $253499. The median list price for homes in Franklin County also saw a slight decrease of 1.11% from $242700 in November 2023 to $240000 in November 2024.
Despite the decrease in prices, the number of home sales in Franklin County has actually increased. In November 2024, there were 83 home sales, a 3.75% increase from 80 in November 2023. This could indicate a strong demand for homes in the area.
As we head into the end of the year, it will be interesting to see how the real estate market in Franklin County continues to evolve. For more information and detailed data, please refer to the chart below, available exclusively from MORE, REALTORS®. Whether you are buying or selling in Franklin County, our team of experienced agents is ready to assist you with all of your real estate needs.
The National Association of Realtors’ 2024 Profile of Home Buyers and Sellers provides fascinating insights into the evolving preferences and demographics of today’s real estate market. As reflected in the charts below, buyers continue to seek homes and neighborhoods that align with their lifestyles and values, while trends in home size, type, and location highlight shifting priorities.
Key Highlights from the Report
Family Dynamics in Home Purchases: The share of homebuyers without children under 18 in the home has risen significantly, reaching 73% in 2024, compared to just 41% in 1981. This trend underscores how demographic changes are shaping the housing market, with more buyers focusing on personal preferences or retirement needs rather than family-centric requirements.
Neighborhood Selection Drivers: When choosing a neighborhood, 59% of buyers cited the quality of the neighborhood as the top factor, while proximity to friends and family came in second at 45%. Affordability, shopping convenience, and walkability were also notable influences.
What Homebuyers Want: Detached single-family homes remain the gold standard, with 75% of buyers opting for this type of property. However, preferences between new and previously owned homes differ—31% of buyers chose new homes for features like energy efficiency, while 31% opted for previously owned homes citing better overall value.
Emerging Trends in Home Sizes and Environmental Features
The report reveals that the median size of homes purchased by first-time buyers remains modest at 1,500 square feet, while repeat buyers prefer larger homes averaging 2,000 square feet. Meanwhile, the importance of energy-efficient features continues to grow, with heating and cooling costs cited as very important by 33% of buyers.
For those interested in diving deeper, the complete report can be accessed below. As always, if you’re considering buying or selling a home in the St. Louis metro area, the expert agents at MORE, REALTORS® are here to assist. We pride ourselves on understanding the market trends and finding the perfect fit for your needs. Contact us today to explore your options!
The 2024 Profile of Home Buyers and Sellers, published by the National Association of Realtors (NAR), provides a detailed look at the trends shaping the real estate market. One of the most striking takeaways is the continued rise in the age of first-time home buyers. In 2024, the median age of first-time buyers is 38 years—a dramatic jump from 29 yearsin 1981. This increase reflects the growing challenges young buyers face, including rising home prices, student loan debt, and tighter lending standards. The chart below vividly illustrates this trend over the past four decades.
In contrast, repeat buyers now have a median age of 61 years, as seasoned homeowners return to the market later in life. For all buyers, the median age has reached 56 years, a significant shift from the past. These changes highlight the growing complexity of homeownership in today’s market, where affordability and economic pressures are driving buyers to delay their purchases.
As buyers grow older, their household composition has also changed. This year, 73% of buyers reported having no children under 18 at home, compared to 59% in 1981. This shift suggests evolving priorities among today’s buyers, many of whom are opting for homes that meet their lifestyle needs rather than focusing solely on family size.
At MORE, REALTORS®, we understand these changing dynamics and specialize in helping buyers and sellers navigate the real estate market, whether you’re a first-time buyer, a seasoned homeowner, or simply exploring your options. Contact us today to learn how we can help you make informed, confident real estate decisions. For even more insights, explore the full NAR report by clicking HERE and check out the charts below to better understand today’s home buyer.
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