After the COVID-19 pandemic hit St Louis and greatly curbed real estate activity back in March and April, the market was quick to recover and has come back in a pretty robust way. The impact is starting to show more though in home sales in the year-over-year and year to date numbers, however. As our STL Market Report for the St Louis MSA below shows, for the 12-months ended June 30, 2020, there were 36,657 homes sold throughout the St Louis metro area, a decline of just over 1% from a year ago when there were 37,040 homes sold during the same period.
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STL Market Report- St Louis MSA
(click on report for live, current report)
St Louis Home Sales Trending Downward…
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As our chart below depicts, the home sales trend for the St Louis MSA (the dark green line) made a sharp course change in April and has continued downward since. This is understandable as this reflects closed sales which, as a result of the COVID-19 “shutdown” that happened around March 10th is to be expected.
The year to date home sales for the St Louis MSA (the light green line) is trending behind last year as well. Through June, there have been 12,584 homes sold YTD in the St Louis MSA, a decline of 13% from the same time last year when there were 14,407 homes sold YTD.
St Louis MSA YTD & Past 12 Month Home Sales – – Past 25 Months
(click on chart for live, current date)
New sales are on the rise…
The good news for the market is that new sales of homes continue to outpace last year. As our report below shows, in June there were 5,806 new contracts on listings in the St Louis MSA, an increase of 11% from last June when there were 5,237 new contracts. If this continues, it will help make up for some of the sales lost during March and April when the real estate business was most impacted by COVID-19 and make help 2020 turn out ok in the end. Time will tell.
New Contracts on Residential Listings – St Louis MSA
