St Louis Real Estate Market Report

The St. Louis real estate market picked up a little steam in the first quarter of this year with an increase in the number of homes sold over the prior quarter, a reduction in the months-supply of homes for sale and a sharp increasing in pending sales.  The homebuyer tax credit with it’s deadline to enter into contract to buy a home of April 30th helped fuel the increase in pending sales no doubt, but hopefully that wasn’t the only impetus.

Here’s a county by county look at the St. Louis real estate market for the first quarter of 2010:

St. Louis County:

• 5,989 Homes for Sale
  • 2 percent increase from the prior quarter
  • 14.8 percent decrease from a year ago
• 872 Homes Sold
  • 11.9 percent increase from the prior quarter
  • 11.1 percent increase from a year ago
• 1,345 Pending Home Sales
  • 89.7 percent increase from the prior quarter
  • 37.5 percent increase from a year ago
• Months Inventory of homes for sale
  • Based on Closed Sales – 6.9 months, down from 7.5 months in the prior quarter and down from 9.0 months a year ago
  • Based on Pending Sales – 4.5 months, down from 8.3 months in the prior quarter and down from 7.2 months a year ago

St. Louis City:

• 1,497 Homes for Sale
  • 5.2 percent decrease from the prior quarter
  • 25.0 percent decrease from a year ago
• 252 Homes Sold
  • 21.7 percent increase from the prior quarter
  • 7.2 percent increase from a year ago
• 372 Pending Home Sales
  
  • 120.1 percent increase from the prior quarter
  • 36.3 percent increase from a year ago
• Months Inventory of homes for sale
  • Based on Closed Sales – 5.9 months, down from 7.6 months in the prior quarter and down from 8.5 months a year ago
  • Based on Pending Sales – 4.0 months, down from 9.3 months in the prior quarter and down from 7.3 months a year ago

St. Charles County:

• 2,442 Homes for Sale
  • 2.7 percent increase from the prior quarter
  • 13.7 percent decrease from a year ago
• 331 Homes Sold
  • 42.1 percent increase from the prior quarter
  • 25.9 percent increase from a year ago
• 238 Pending Home Sales
  
  • 102.9 percent increase from the prior quarter
  • 45.0 percent increase from a year ago
• Months Inventory of homes for sale
  • Based on Closed Sales – 7.4 months, down from 10.2 months in the prior quarter and down from 10.8 months a year ago
  • Based on Pending Sales – 5.1 months, down from 10.0 months in the prior quarter and down from 8.5 months a year ago

Jefferson County:

• 1,810 Homes for Sale
  • 3.8 percent increase from the prior quarter
  • 10.0 percent decrease from a year ago
• 190 Homes Sold
  • 31.9 percent increase from the prior quarter
  • 15.2 percent increase from a year ago
• 283 Pending Home Sales
  
  • 99.3 percent increase from the prior quarter
  • 28.3 percent increase from a year ago
• Months Inventory of homes for sale
  • Based on Closed Sales – 9.5 months, down from 12.1 months in the prior quarter and down from 12.2 months a year ago
  • Based on Pending Sales – 6.4 months, down from 12.3 months in the prior quarter and down from 10.4 months a year ago

Franklin County:

• 887 Homes for Sale
  • 4.2 percent decrease from the prior quarter
  • 1.7 percent decrease from a year ago
• 68 Homes Sold
  • 1.4 percent decrease from the prior quarter
  • 17.2 percent increase from a year ago
• 106 Pending Home Sales
  
  • 73.8 percent increase from the prior quarter
  • 45.2 percent increase from a year ago
• Months Inventory of homes for sale
  • Based on Closed Sales – 5.9 months, down from 7.6 months in the prior quarter and down from 8.5 months a year ago
  • Based on Pending Sales – 4.0 months, down from 9.3 months in the prior quarter and down from 7.3 months a year ago