Along with the end of 2015 came one of the busiest time periods for listings of homes for sale to expire. To put it in perspective, during the last two weeks of December, there were almost 1,300 listings that expired within the St Louis five-county core market, more than double the number of listings that expired during the last two weeks of November. While there is a logical reason that many sellers go off the market at year-end, such as the fact that, as the chart below shows, January is historically, and has been for the past 5 years as depicted, the worst month of the year for home sales and the month when homes sell for the lowest price of the year. However, on the flip side of things, it can also be the time when there is less competition from other listings, making it easier to sell.
Sellers markets neighborhoods with low inventory of homes for sale:
There are currently 30 cities in the St Louis area that have less than a 3-month supply of homes for sale (based upon the last 30 days of home sales) making them markets that favor sellers. The table below shows the top 14 sellers markets in St Louis, based upon inventory of homes for sale, all with just a 2 month or less supply of homes for sale. If you live in one of these neighborhoods and have considered selling, now would be the time to take advantage of the low inventory and beat the “spring-sellers” to the market!
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St Louis Home Sales and Home Prices – 5 Year Chart
St Louis Sellers Markets
(click on table to see complete list LIVE)
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