Year to date, through the end of May, there were 9,929 homes sold in the St Louis 5-County Core market, a decline of 5.2% from this time last year when 10,477 homes had sold. This marks the lowest YTD home sales through May since May 2015, when there were 9,262 homes sold. As the second chart below illustrates, the St Louis home sales trend (trailing 12 months and represented by the dark green line) peaked in October 2018 with 26,032 homes sold in the prior 12 months but then stalled and has begun a slight downward trend which continues with 25,433 homes sold in the 12 month period ending in May 2019.
Meanwhile, St Louis home prices continue to rise with the median price of homes sold in the past 12 months in the 5-County Core market increasing 5.21% from the prior 12-month period. As the table below the charts shows, the median price of homes sold in the St Louis 5-County Core market during the most recent 12-month period was $199,900, an increase from $190,000 during the prior 12-month period.
The inventory of homes for sale has declined even further from last month, with just s 1.81 month supply of homes for sale in the St Louis 5-County Core Market. The low inventory is the key reason behind the lower home sales as there just aren’t enough homes for sale to satisfy the current home buyer demand.
Would-be home sellers are afraid to list their homes…
The low supply of homes for sale, coupled with the high demand, has many homeowners reluctant to list their homes for sale for fear they will sell but won’t be able to find a home to buy. This is why we developed our “Guaranteed No Sale” program, something that protects sellers from becoming “homeless”. It allows a seller to list their home with the confidence they won’t be obligated to sell if they are not successful in finding a home to buy. You can find out more at GuaranteedNoSale.com.
St Louis 5-County Core Market YTD Home Sales – Past 5 Years
(click on chart for live, interactive chart)
St Louis 5-County Core Market Home Sales & Price Trend – Past 5 Years
(click on chart for live, interactive chart)
STL Market Report – St Louis 5-County Core Market
(click on chart for live, interactive chart)
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