This week FNC, Inc., a large company that provides real estate market information to mortgage lenders across the country, published their FNC Residential Price Index™ report which, as the table below shows, reported that St Louis home prices declined slightly in January from the month before (0.4%) and were also down slightly (0.7%) from a year ago. However, all is not as it may appear as this data, like most data you see reported nationally, and even often-times locally, it is based upon the St Louis Metropolitan Statistical Area (MSA), which consists of a total of 17 counties, 9 of which are in Missouri and the other 8 in Illinois. So, while the data for the St Louis MSA is an accurate reflection of what is going on in our region as a whole, you must remember, real estate is very local, so the more targeted the data, the better and that’s where we come in.
Our 5-county core market, which consists of the city of St Louis and the counties of St Louis, St Charles, Jefferson and Franklin, contains about 72% of the overall population of the St Louis MSA and makes up the bulk of the St Louis real estate market, hence our focus on the 5-county core. As the chart below illustrates, the median home prices for homes sold in the St Louis 5-county core market, did decline 6% from $179,900 in December to $169,000 in January, however, home prices increased from $167,500 in January 2014, to $169,000 in January 2015 so, not a large increase (0.8%) but an increase. Below that chart is a chart for just St Louis county showing that St Louis county home prices slipped slightly in January (0.9%) to a median price of $183,300 from $185,000 the month before, however, increased 6%, from January 2014, when the median home price was $173,000. Finally, the bottom chart shows St Charles County home prices fell 8.8% in January to a median price of $191,500 from $210,000 the month before, but were up slightly from January 2014 when the median home price in St Charles county was $190,900.
Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
Source: FNC, Inc. – FNC Residential Home Price Index
