Nearly Half of St. Louis Sellers Cut Asking Prices, with Average Reductions Over $24,000

Nearly half of all homes listed for sale in the St. Louis metropolitan area have had to cut their asking price at least once, according to a snapshot of current listings provided by MORE, REALTORS®. Out of 7,684 active listings, 3,290, or 42.8%, have seen a price reduction. The average cut is $24,842, which is 8.1% off the original asking price.

What Price Cuts Mean for Buyers and Sellers

For buyers, these numbers signal a market where negotiation is alive and well. With 42.8% of sellers lowering their expectations, buyers may find opportunities to purchase homes below the initial asking price. The average reduction of $24,842 can make a significant difference, particularly for first-time buyers or those stretching to afford a particular neighborhood or school district.

Sellers, on the other hand, face a different reality. The data shows that pricing a home correctly from the outset is more important than ever. Homes that start too high are likely to linger on the market and eventually require a price cut, which can cost sellers both time and money. Among homes that actually closed between October 2025 and September 2026, 49.5% sold for less than their original asking price, and the average discount was even higher at $26,041. This suggests that overpricing often leads not just to a longer sale process but also to a steeper final discount.

Price Cuts Across Price Ranges and Counties

The likelihood of a price cut varies by both the original asking price and the county. Here’s how the numbers break down by price range:

• Under $150,000: 46.8% of 1,655 listings have cut price
• $150,000 to $249,999: 47.0% of 1,447 listings
• $250,000 to $399,999: 38.4% of 2,203 listings
• $400,000 to $599,999: 43.1% of 1,340 listings
• $600,000 and up: 39.7% of 1,039 listings

Price reductions are most common in the lower price ranges, with nearly half of listings under $250,000 requiring a cut. However, even in the higher brackets, more than a third of sellers have had to adjust their expectations.

Geographically, the City of St. Louis leads with 48.6% of active listings seeing a price cut, averaging $25,425 off. St. Louis County follows at 46.0% of listings, averaging $23,896 off. In St. Charles County, 36.0% of listings have been reduced, but the average cut is higher at $27,272. Franklin and Warren Counties have the lowest share of price cuts, at 35.5% and 33.9% respectively, but the deepest average reductions, at $28,442 and $28,060.

Why Pricing Right Matters

The data paints a clear picture: pricing a home correctly the first time is critical. For sellers, starting too high often means joining the 42.8% who end up making a cut, and possibly the 49.5% who sell for less than their initial target. For buyers, the prevalence of price reductions means there is room to negotiate, but it also means that homes priced right from the start may move quickly.

For real estate agents, these numbers reinforce the importance of honest, data-driven pricing conversations with clients. Overpricing remains a common pitfall, and the statistics from MORE, REALTORS® make it clear that the cost of a misstep can be significant for both sellers and agents alike.