As a follow-up to my previous article on the diverging trends in luxury and non-luxury home sales in the St. Louis area, we now turn our attention to the current state of inventory in these two segments. The tables below (exclusively available from MORE, REALTORS®) reveals a surprising contrast: the supply of luxury homes (with a list price of $700,000 or above) in the St. Louis 5-County Core market stands at 2.13 months, while the inventory for non-luxury homes is only 1.40 months.
A Closer Look at Luxury Home Inventory
The 2.13-month supply of luxury homes in the St. Louis 5-County Core market suggests, while still favoring sellers, a more balanced market than the non-inventory market which, due to the very low supply, still favors sellers.
St Louis 5-County Core Luxury Market
(click on table for updated report)
Non-Luxury Home Inventory: A Tighter Market
In stark contrast, the non-luxury home market, with a 1.40-month supply, is considerably tighter. This lower level of inventory indicates a seller’s market, where demand outstrips supply. Buyers in this segment may face increased competition, potentially leading to bidding wars and higher final sale prices. Sellers, on the other hand, are in a favorable position to negotiate better terms and quicker sales.
St Louis 5-County Core Non-Luxury Market
(click on table for updated report)
The contrasting inventory levels in the luxury and non-luxury home markets in the St. Louis 5-County Core area offer valuable insights for both buyers and sellers. With exclusive data from MORE, REALTORS®, this analysis provides a nuanced understanding of the current real estate dynamics in St. Louis.
For more detailed information and to view the exclusive tables, visit MORERealtors.com, StLouisRealEstateNews.com and StLouisRealEstateSearch.com, your go-to sources for the most accurate and current St. Louis real estate data.
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