Homes are selling in St Louis at a brisk rate evidenced by the fact that pending home sales, those listings that are under contract to a buyer but not yet closed, for 2016 through the end of April increased 9.2% from the same time last year. As the chart below illustrates, year to date pending home sales in the St Louis 5-County core market (city of St Louis and counties of St Louis, St Charles, Jefferson and Franklin) thus far this year are at a level higher than we have seen in years! Pending home sales in the month of April itself barely outperformed April 2015 by 1/2 of 1%. One of the best ways to get the big picture is to look at pending home sales for the most recent 12 month period and compare that with the prior 12 month period which when we do shows an increase of 9% in pending home sales for the 12 month period ended March 31, 2016.
Data Source: MARIS
City of St Louis only County With Decline in Pending Home Sales:
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As the table below shows, all of the counties that make up the St Louis Core market saw an increase in YTD pending home sales this year with the exception of the City of St Louis which saw a decline of over 8 percent. Only two counties, St Louis and Jefferson, saw an increase in Pending home sales in April 2016 from April 2015.
Copyright 2016 – MORE, REALTORS – Data Source: MARIS