The St Louis Luxury Home Market is concentrated within the central corridor of the St Louis area with the highest median home prices (of homes listed) currently being found in Frontenac, with a median price of $1,326,654, followed by Ladue, Town and Country, Clayton and Creve Coeur.
Like the rest of the St Louis real estate market, The St Louis Luxury Home Market suffered when the housing bubble burst a few years ago but is it on the road to recovery like the bulk of the St Louis housing market? To address this, I looked at the market from several angles and analyzed the following data for the top 25% of each market (based upon price):
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- Median price per square foot trend of homes for sale over the past year
- The inventory of homes for sale over the past year
- A comparison of the number of new listings coming on the market versus listings leaving the market
As the charts below show, you can see that home prices have fallen in all 5 of the top markets with the exception of Creve Couer which is pretty much at about the same level as last year. Clayton’s price trend is currently downward, Kirkwood’s is flat and the remaining 3 are trending upward. The inventory of homes for sale in these markets has increased in all the markets except Clayton and all are trending upward.
Finally, I have charts for each of the five markets individually showing the number of listings that have been absorbed (sold, expired, withdrawn or for some other reason left the market) in the past year versus the number of new listings and, as the charts show, all five markets have seen more new listings coming on the market than leaving the market.
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