The inventory of homes for sale may be low, but that doesn’t appear to be slowing down the pace of home sales. As the STL Real Estate Trends Report below shows (which is exclusively available from MORE, REALTORS®) during the most recent week that data is available for, there were 1,151 new contracts written on listings in the St Louis MSA, an increase of 54% from the same period a year ago when there were 746 contracts written.
New listings are up as well during the same period. Again, referring to STL Real Estate Trends Report from MORE, REALTORS® this time for listings, we see that there were 908 new listings during the most recently reported week, an increase of 26% from the same period last year.
For the week ended April 3rd, new sales out paced new listings by 26% so it doesn’t appear we are going to see any change in the low supply of homes for sale anytime soon.
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Local Home Trends Report- New Contracts
(click on report for live, current report)
Local Home Trends Report- New Listings
(click on report for live, current report)
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