A report released by Knock, a company that buys homes, forecasts that, nationally, 77% of current listings will sell below the original list price during the first quarter of 2019 and in St Louis, 82.61% of the listings will sell below list price. The report goes on to forecast that, on average, during the first quarter of 2019 homes in St Louis will sell for 5.2% less than the original list price and will take an average of 22 days to sell.
70% of St Louis Listings Sold For Less Than Original Price During Past 3 Months…
As our exclusive STL Market Chart tables below show, during the past 3 month period, 5,055 of the 7,240 (69.8%) homes that sold in the St Louis 5-County core market, sold for less than the original asking price. Therefore, Knock’s prediction that this percentage hits 82.61% during the coming 3 months is not a stretch. Nearly half (46%) of the 8,883 active listings on the market have already had at least one price reduction.
St Louis 5-County Core Market – Past 3 Months
(click on table for live, current data)
St Louis 5-County Core Market – Sold For Below Original Price
(click on table for live, current data)
St Louis 5-County Core Market – Sold At Or Above Original Price
(click on table for live, current data)