Existing Home Sales In St Louis Increase Six Percent In Past 12 Months!

Yesterday, the National Association of REALTORS (NAR) released their existing home sales data for October 2016 which revealed home sales in the U.S. during that month were at a, seasonally-adjusted, annual, rate of 5.6 million homes, an increase in rate of 2 percent from the month before.   We track St Louis home sales data in a little different manner, comparing the most recent 12 month period with the prior 12 month period, so a rolling 12 month average of sorts.  Using this method, as the table below shows, home sales in the St Louis MSA for the 12-month period ending October 31, 2016, increased 6.0% from the prior 12 month period and we have branded the St Louis MSA housing market as a “Hot Seller’s Market“.

There were 36,139 homes sold in the St Louis MSA in the 12 month period ending last month, up from 34,089 homes sold during the prior 12 month period. During the most recent 12-month period, homes in St Louis sold for a median price of $167,837, an increase of 6.64% from the prior 12-month period when homes in the St Louis MSA sold for a median price of $157,388.

If we look at home sales for just the month of October, using the chart beneath the table below, we see that there were 2,925 homes sold in the St Louis MSA during the month, an increase of 8 percent from October 2015 when there were  2,711 homes sold.  The median price of homes sold last month was $165,000, a 7 percent increase from October 2015 when the median price of homes sold in the St Louis MSA was $154,000.


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STL Market ReportTM For The St Louis MSA
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St Louis MSA Home Sales and Prices - Most Recent 12 Months Compared With Prior 12 Months

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STL Market ChartTM For The St Louis MSA
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