As the St Louis real estate market continues to show signs of improvement in many areas, as I often talk about, real estate is very local, so markets within a metro area can behave quite different. Aware of this, many home buyers, particularly home buyers relocating to St Louis, want to know what are the “hot” markets, or the markets that have definitely begin to come back? Sellers want to what the hot markets are as well with the hope they will see their city or zip on the list. I think the best way to answer this question and to get a quick idea of the health of a local market, is the “Market Action Index” (MAI) which looks at, among other things, supply and demand and then determines how hot or cold a market is. The table below (which is real-time data so will change if you come back later and check it out again) shows the top 25 cities/zips in St. Louis based upon the MAI. Of course, there is no one chart or piece of data that can tell you the health of a market as there are many factors that need to be taken into account, but this is a good place to start.
Source: MORE, REALTORS
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