St Louis Housing Market has 6.8 percent increase in homes sales in July

Dennis Norman

Dennis Norman

By: Dennis Norman

The St. Louis housing market is showing some signs of strength with St Louis home sales increasing in July to a seasonally adjusted rate of 21,038 homes, an increase of 6.8 percent from June’s seasonally adjusted rate of 19,691 homes.  This increase for the month is very close to the  increase in home sales in the U.S. according to the report released today from the National Association of REALTORS(R), existing home sales in July rose 7.2 percent to a seasonally adjusted rate of 5.24 million units up from a level of 4.89 million units in June.

However St Louis home sales for July 2009 were the same as July 2008 showing no gain or loss in sales compared with an increase of 5 percent for the year on US home sales according to the National Association of REALTORS report.  To read about all the home sales and housing market data from the National Association of REALTORS(R) please click the following link:    Home Sales – Existing Home Sales July 2009

The St Louis median home price of homes sold in July was $153,000 which is 2.9 percent less than the median home price in June of $157,500 and 5 percent below the median home price of $161,000 from July 2008.  For US homes sales in July the median home price declined by 1.9 percent from June and 15.1 percent from July 208.

The average time to sell a home in the St. Louis housing market for July 2009 was 89 days which is fairly consistent with June’s 86 days and July 2008’s 90 days.

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