St Louis Home Sales And Prices Saw Double-Digit Increase In Past 12-Months

For the 12-month period ended May 31, 2021, there were 30,225 homes sold within the St Louis 5-County core market, an increase in home sales of 13.91% from the prior 12-month period, according to the STL Market Report below, available exclusively from MORE, REALTORS®.  During the same period, St Louis home prices increased 11.5% from a median of $213,000 to $237,500.  As the report also shows, the current supply of listings for sale is low at 0.86 months.

STL Market Report For the St Louis 5-County Core Market

(click on report for live, complete report)

STL Market Report For the St Louis 5-County Core Market

 

STL Market Report – May 2021

St Louis Realtors Home Prices and Sales Market Report May 2021

Thirty-Eight Percent Of St Louis LUXURY Homes Sold In Past 12 Months Sold At Or Above List Price

Last week I shared data showing that nearly two-thirds of the homes sold in the St Louis 5-County core market (St Louis city and the counties of St Louis, St Charles, Jefferson and Franklin) during the past 12 months sold for the asking price or above.   Today, I wanted to focus on just the luxury home market to see how that compared with the overall market.  I included homes that sold for $750,000 or higher in this analysis.

As the infographic below shows (exclusively available from MORE, REALTORS®) there were 1,120 luxury homes sold (about 3% of all homes sold) during the past 12-months in the St Louis 5-County core market with 38% of them selling at the list price or above.  Drilling down further, we see that 22% of the St Louis Luxury homes sold for greater than the list price.

Sixty-Three Percent Of St Louis Homes Sold In Past 12 Months Sold At Or Above List Price

It’s no secret how competitive the St Louis housing market is currently.  In effort to get their offer accepted, homebuyers are waiving financing contingencies, building inspections and doing everything they can to convince the seller to take their offer.  However, in addition to those aforementioned things, while it’s not necessarily the most important thing, price is pretty close to the top of the list.

As a result of everything mentioned above, almost two-thirds of the homes sold in the St Louis 5-County core market (St Louis city and the counties of St Louis, St Charles, Jefferson and Franklin) during the past 12 months sold for the asking price or above.  As the infographic below shows (exclusively available from MORE, REALTORS®) there were 34,225 homes sold during the past 12-months in the St Louis 5-County core market with 63% of them selling at the list price or above.  One thing to remember about home prices though, and something you won’t hear from too many people reporting prices, is that not all sold prices are the “real” price.

About Half of Consumers Surveyed Think Home Prices and Interest Rates are Going Up

Every month Fannie Mae surveys consumers about owning and renting a home as well as about other issues related to the housing market and economy and from the results publish their Home Purchase Sentiment Index® (HPSI).  One of the components of the index is what the sentiment is on whether now is a good time to buy a home or sell a home.  In the April 2021 HPSI 49% of consumers felt home prices would go up in the next 12-months and 54% felt interest rates would increase in the next 12-months.

St Louis Area Housing Market Report For April

In spite of the challenge of a low-inventory housing market, St Louis City and County, St Charles County and Franklin County all saw double-digit increases in the number of homes sold in April while Jefferson County saw a double digit decline.   As the charts below illustrate, the median price of homes sold in those counties increased from a year ago in all the counties, two of them in the double digits.

Not all housing data is the same….nor accurate for that matter…

One thing worth noting is that there are housing market reports out there from many different sources, including many credible ones that may or may not be accurate.  In most cases this is not due to an error on the part of the person or entity sharing the data but a result of either bad data,  inaccurate data or misinterpreted data.   For example, when preparing to write this article I noticed two different reports on “St Louis” home prices for homes sold in April.  One, which indicated it was for St Louis City and County combined, reported $250,000 and one which reported the “St Louis area” was $266,000.  In the case of the latter, my first guess was that they were reporting data for the St Louis MSA but when I checked that the actual sold price in April was only $223,750 so I have no idea where the data came from.  For the former, the $250,000 median price is not only higher than the median price for St Louis City and County, it’s higher than the median price for the whole MSA and while the source is indicated, I’m not sure how this number was arrived at.

So what does it matter?

In the crazy market we are in where buyers are getting in bidding wars to get a home, I think it’s more important than ever to have good, relevant and accurate data available to your agent so your agent can help you make an informed decision.  You ultimately may decide to pay above what you think the current value of the home is but it would help to know what the real value is.  If you look at my chart below for St Louis City and County you’ll see the median price of homes sold in April was $230,000 which is quite different than the $250,000 price and $266,000 I saw reported elsewhere.  Would being $20,000 – $36,000 off on the value matter to you?  I think it might.

So how do I know I’m right?

Well, for starters I’m a data junky and for the past dozen or so years I’ve probably spent, on average about a dozen hours a week or more studying market data for St Louis.  In addition, for the past 6 or 7 years we have worked to develop our own proprietary software to compile and report housing data and are constantly checking and double checking the output.  Finally, we have a very credible source for data, the REALTOR® MLS and we constantly update and check the data.  Put all of this together and while there’s no way to say it’s 100% correct, but I’m confident it’s about as close as you can get.

Is The St Louis MSA Real Estate Market Better in Missouri or Illinois?

There are a total of seventeen counties that make up the St Louis MSA with 9 of them being on the Missouri side of the Mississippi River and the other 8 on the Illinois side.  For some reason, I was curious today if the portion of the St Louis MSA in one state was outperforming the other or if they were performing about the same.  I guess my expectation was probably the latter but the data showed that in fact, during the past three months, they were closed, but each state has its bragging rights depending on which data point you look at.

The tables and charts below (available exclusively from MORE, REALTORS®) show more details but below are some highlights of the comparisons between the counties in the two states:

  • Sold home prices in Missouri for December were at a median price of $226,500 in December then dipped in January, as expected but rebounded back in February to a median price of $225,000 or 99.3% of the December price.  Illinois, on the other hand, had a median price of $150,000 in December then actually increased in January but then fell to $137,750 in February, or 91.8% of the December price.
  • The number of home sales paints a different picture though.  For the Missouri counties, there were 2,819 homes sold in December and  1,849 in February, for a decrease of 34%.  In the Illinois counties, there were 744 homes sold in December and 554 in February for a 26% decrease.


St Louis City and County Home Prices Rebound In February

As the chart below shows, the median price of homes sold in St Louis City and County jumped to $220,000 last month from $204,000 the month before.  While home prices increased during the month, the number of homes sold fell slightly to 1,027 homes in the two-county area, down from 1,085 the month before.

As the table below the chart shows, there have been nearly 18,000 homes sold during the past 12 months in the City and County of St Louis at a median sold price of $220,580.  The homes sold during the past 12 months sold for a median price of 100% of the original asking price and took a median time of just 20 days to sell.  Can you say Seller’s Market? :)

St Louis City and County Home Prices and Sales

(click on chart for live chart)

St Louis City and County Home Prices and Sales 

 

 

St Louis Real Estate Market Update VIDEO – February 2021

The St Louis real estate market has started off 2021 strong, but is a change coming?  Closings of home sales in January were strong with more sales closing than in January of last year, but with everything going and the uncertainty of the economy will it continue?  I address both the current state of the St Louis real estate market, as well as discuss our “leading indicator” data which gives us a glimpse of where the market is headed in the St Louis Real Estate Market Update video you can access below.
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You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

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St Louis’ Most Expensive School Districts To Buy A Home In

It probably won’t come as a surprise that many of St Louis’ best school districts also have some of St Louis’ most expensive home prices.  As the list below shows, the Ladue School district has the highest-priced homes with the average price for homes sold in the past 12 months at nearly $900,000.  Of the top 10 highest priced school districts, 8 are in St Louis County, one in St Charles County and one in Franklin County.

St Louis 5-County Core’s Most Expensive School Districts

(click on list for complete list)St Louis 5-County Core's Most Expensive School Districts

 

St Louis Has 5 Municipalities Where Average Sold Home Is Over $1 Million

One of the benefits to living in St Louis we often hear about is how affordable it is compared with many other metro areas around the country.  Granted, one of the things that contribute to the “affordability” is the price of homes but that doesn’t mean we don’t have areas with pricey real estate here.  The list below is part of the list showing what the average price homes sold for in every municipality in the St Louis MSA during the past 12 months and reveals the five municipalities where the average home price exceeded $1 Million.

Leading the list is the relatively small, but expensive, Country Life Acres where homes in the past 12 months sold for an average of $1,621.564.

St Louis 5-County CORE Market’s Most Expensive Municipalities

(click on list to see entire current list)

St Louis 5-County CORE Market's Most Expensive Municipalities

 

St Louis Condo Sales Flat In 2020 but Prices Up

Yesterday, I reported that St Louis area home sales and prices were both up about 8% during 2020 from 2019 so today we’ll take a look at how condominium sales and prices compared during the same period.

As the STL Market Report shows (available exclusively from MORE, REALTORS®), in the 5-County Core St Louis market there were 3,567 condominiums sold during 2020, 10 condominiums less than the 3,577 condominiums sold during 2019.  The median price of condos sold in 2020 in this St Louis market was $163,900, an increase of 5.74% from 2019 when the median price was $155,000.

The current price trend, as depicted in the report, is up significantly with the median price per square foot of condos that are currently on the market being over 23% higher than the median price per foot of condominiums sold during 2020.  There are currently 417 condos for sale in the St Louis 5-County Core market, representing a 1.30 month supply at the current sales rates.

STL Market Report for the St Louis 5-County Core Market Condos

(Non-distressed condo sales only – click on report for live report)

STL Market Report for the St Louis 5-County Core Market Condos

 

St Louis Home Sales And Prices Both Up About 8 Percent in 2020 From 2019

In spite of the challenges from the COVID-19 pandemic, stay at home orders, a shaky economy and a fair amount of social unrest, 2020 still managed to be a good year for residential real estate!  As the STL Market Report shows (available exclusively from MORE, REALTORS®), in the 5-County Core St Louis market there were 28,131 homes sold during 2020, an increase of 8.27% from 2019 when there were just 25,982 homes sold.  The median price of homes sold in 2020 in this St Louis market was $232,000, an increase of 7.93% from 2019 when the median price was $214,950.

The current price trend, as depicted in the report, is up as well with the median price per square foot of homes that are currently on the market being over 9% higher than the median price per foot of homes sold during 2020.  There are currently 2,031 active listings on the market representing a 0.81 month supply at the current sales rates.

STL Market Report for the St Louis 5-County Core Market

(Non-distressed home sales only – click on report for live report)

STL Market Report for the St Louis 5-County Core Market

 

St Louis Existing Condo Sales Down Slightly During Past 12-Months From Prior 12-Months

As the STL Market ReportTM below shows, there were 3,419 existing condominiums sold in the 12-month period ended November 30, 2020, a decrease of 0.23% from the prior 12-month period.  The median price of condos sold during the past 12-months was $159,900, an increase of 5.2% from the prior 12-month period.  To make sure the data represents the market as accurately as possible, distressed home sales and new construction were excluded from the data.  As the report shows, the current inventory of condos for sale is just 1.2 months.

STL Market Report – St Louis 5-County Area – Condos

Available Exclusively From MORE, REALTORS

Click on the report to get the current report

 

STL Market Report - St Louis 5-County Area - Condos

St Louis Existing Home Sales Up 7 Percent During Past 12-Months From Prior 12-Months In Spite Of Low Inventory

As the STL Market ReportTM below shows, there were 26,675 existing homes sold in the 12-month period ended November 30, 2020, an increase of 7.13% from the prior 12-month period.  The median price of homes sold during the past 12-months was $225,580, an increase of 7.42% from the prior 12-month period.  To make sure the data represents the market as accurately as possible, distressed home sales and new construction were excluded from the data.  The increase in home sales is almost hard to imagine given how low the inventory of homes for sale has been.  As the report shows, the current inventory of homes for sale is just 3/4 of one-month.

STL Market Report – St Louis 5-County Area

Available Exclusively From MORE, REALTORS

Click on the report to get the current report

STL Market Report - St Louis 5-County Area

Have Home Prices Increased Too Much Too Fast? Is A Correction Coming?

Not only has it become common today for homes to sell as soon as they hit the market but receiving offers from multiple buyers and at prices that equal or even exceed the asking price is common as well.  While this is an illustration of Economics 101, the rule and supply and demand, when the demand exceeds the supply (such as in the housing market in many price ranges and areas), prices increase this can also be a reminder of times past when home prices rose quickly for several years, then retreated rather abruptly.  The most recent example of this, and arguably the worst during my 40 years in the real estate business, was the housing bubble that burst in 2008 sending home prices into a downward trend that lasted about 3 years.

So, are we headed to another housing bubble?

My focus is primarily on the St Louis housing market so I will focus on that but I will point out what I see with regard home prices, St Louis has a better outlook than at the national level.

St Louis Housing Market Stays Steady In Spite of COVID-19

The St Louis real estate market slowed when the effects of COVID-19 hit the St Louis area in early March but after continuing at a slower pace for a few weeks has quickly shifted gears to a faster pace.  The St Louis market has improved to the point that, for the 12-month period ended May 31, 2020, St Louis home sales were down just 1.84% from the prior 12-month period.  The median price of homes sold during the past 12-months was $213,000, an increase of 6.55% from the prior period.

St Louis 5-County Core Market Home Sales and Prices

Past 12 Months vs Year Ago

(click on the table below for live report)

St Louis 5-County Core Market Home Sales and Prices  Past 12 Months vs Year Ago

St Louis Real Estate Market Update VIDEO – May 2020

The St Louis real estate market continues to be on the upswing and recovering from the impact of COVID-19.   The pandemic did slow the St Louis real estate market down for a while but it appears to be recovering quite quickly.  Get all of this and more in this month’s update. Interest rates, the “cherry on top”.  In case the market rebound isn’t enough, mortgage interest rates are at near historic lows making now a great time, and an affordable time, to buy a house if you are in a position to do so.
Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

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St Louis New Listings Down Nearly Double What Sales Are From Last Year

Prior to COVID-19, there had already been a shortage of residential listings for sale in many areas and price ranges through St Louis going back a couple of years.  However, the problem may be getting worse as we are continuing to see new sales of residential listings in St Louis picking up the pace to the point that they are down just 16% from the same time a year ago but, new listings in the St Louis MSA are down 30% from the same time a year ago.

Since we started with a low inventory and now have the sales rate outpacing the listing rate, we are probably going to see an even tighter supply of homes for sale for at least the near future.  As our table below shows, there are some areas where this is even more pronounced, such as St Charles County where the number of new sales of residential listings for the most recent 7-day period is down just 3% from a year ago but new listings during the same period are down 37%.

St Charles County down to less than 2-month supply

As our tables at the bottom shows, currently, there is just a 1.97 month supply of homes for sale in St Charles County and, if we look at the “sweet-spot” of homes priced in the $150,000 – $300,000 range, there is an inventory of just 1.04 months.  If you own a home in St Charles County and have thought about selling, contact us now and let us show you how to leverage this market in your favor whileit lasts.

St Louis Real Estate Market Update VIDEO – April 2020

The St Louis real estate market is off to a good start for 2020 however, it is getting impacted by COVID-19.   This month’s market update video includes market data through the end of March but, even though about 2/3 of March was after COVID-19 began disrupting things here, the effects really cannot be seen yet.  A couple of weeks ago I did a Special Report video that was specifically about the impact of coronavirus on the St Louis real estate market, but it won’t be until our May market report that we really see the full impact of it on the market. Rates are back down after a brief stint on the rise. The mortgage market is a little volatile now given all that is going on but, so far, so good.

In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!  

Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
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Home Affordability In St Louis Improves In 2 Of Five Counties During 1st Quarter

Homes became more affordable in Jefferson County and St Charles County during the first quarter of this year from the 4th quarter of 2019, according to data just released by ATTOM Data Research.  As the table below shows, the affordability index for both those counties increased from the prior quarter as well as from the same quarter the prior year.  Franklin County’s affordability index was the same for the 1st quarter of 2020 as the prior quarter but improved by 5% from a year ago.  The two St Louis’s, the city and county, both saw decline in home affordability from both the prior quarter as well as the prior year.

Average wage earner can qualify to buy in 3 out of 5 Counties…

So while the city and county of St Louis saw a decline in home affordability, the average wage eaarner in those two areas can qualify to buy a home, as can an average wage earner in Franklin County.

St Louis Home Affordability – 1st Quarter 2020

St Louis Home Affordability - 1st Quarter 2020

New Sales Of Residential Listings In St Louis In Past 7 Days Down Just 14 Percent From Year Ago

As all of us continue to deal with a much different lifestyle as a result of the coronavirus pandemic (COVID-19) I am closely monitoring the St Louis real estate market to help get the most accurate information possible to our agents, clients, and consumers to help them make informed decisions about their real estate transactions.

With this in mind, I took a look at new contracts on listings for the past 7 days, so in other words, homes that actually went under contract during the period, but this time, I wanted to drill down deeper than I did a few days ago when I reported new contract activity.  This time I looked at just new sales of residential listings (homes, condos, villas, etc) rather than all property types in the MLS as other property types, such as commercial, land, and farms, for example, could be reacting differently.

As the table below shows, there were 1,142 new contracts on residential listings in the St Louis MSA during the past 7 days, a decline of just 14% from the same time period a year ago.  There were 836 new contracts on residential listings in the St Louis 5-County Core market during the same period, a decline of only 13% from the same period a year ago.

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
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St Louis New Contracts On Residential Listings For The Past 7 Days

St Louis New Contracts On Residential Listings For The Past 7 Days

A slower pace and different methods of selling homes…

As the data shows, COVID-19 is definitely having an effect on the St Louis real estate market in terms of a lower number of sales and, depending on how things go with containing the virus may bring sales down lower, but for now, the sales activity has been only modestly impacted.  Granted, with the threat of COVID-19  many changes are being implemented into the process but thus far everyone in the industry is working together well to take the necessary precautions to address the health concerns while still allowing people to conduct business.  For example, as much as can be done virtually or electronically is being done.

This is something our firm, MORE, REALTORS, has incorporated into our business model for well over a decade so for us and our agents, its a familiar and comfortable way for us to do business.  It has caused us to switch into high gear to complete enhancements to our DOHR™ (Digital Open House Registration, U.S. Patent Pending) which include a totally virtual open house experience, a virtual showing experience as well as a hosted virtual tour experience. These are all things that will allow us to serve our seller clients by exposing their homes to the market, showing them to potential buyers while also protecting them and their families from exposure to the COVID-19 threat.

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
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Over Sixteen Hundred Listings Went Under Contract In Past Week In St Louis area MLS

As I mentioned in my article yesterday about the effect of the coronavirus on the St Louis real estate market, for those homebuyers in a position to buy a home, there will be some good opportunities presented. Apparently, there are buyers out there that perhaps feel the same way or, they at least are not uncomfortable with buying now as, in the past 7 days, 1,670 listings in MARIS, the regional MLS that serves the St Louis area as well as some additional areas outside the metro area, went under contract.  When pulling data from our database for this, I confirmed that prior to the listing’s status changing to Active Under Contract or Pending (both are statuses indicating they are now under contract) the prior status in the MLS was Active thereby verifying these are “new” sales.

The 1,670 sales in the past 7 days is just sligthly lower than the 1,835 listings that went under contract during the same period a year ago.

Now, if the President or the Governor put us under a “Shelter in Place” order or something similar that effectively shuts down everything, that will pretty well put a bullet in new home sales for a while.  Depending on which “latest report” you believe, that either will or won’t happen.

Stay safe and healthy!

 

St Louis Real Estate Market Update VIDEO – March 2020 – 2020 off to a better start than last year…so far

The St Louis real estate market is off to a great start for 2020!  Home sales year to date has outpaced sales from the same time a year ago and everything points to 2020 being a good year for real estate!  The $64 question is, however, what effect the Coronavirus may have on the market.  Only time will tell, but my thoughts are that while there will no doubt be some negative impact on the St Louis housing market as a result of Coronavirus (COVID-19) its impact will be much less than what we have seen of late in the stock market.

I don’t believe we will see any sort of significant decline in home prices but we will likely see a “pause” in sales as some buyers decide to wait and see how things go.  No doubt some of the potential buyers that will be affected are those whose jobs or income are impacted as a result of Coronavirus, such as people in the travel, hospitality, sports, and entertainment industries.

Rates jumped up last week but are still attractive. The week before last, St Louis mortgage interest rates hit an all-time low as buyers were locking in interest rates on a 30-year fixed-rate mortgage as low as 2.95%! This past week, however, that changed and the rates shot up by as much as 1% and not as a result of the stock market or coronavirus as much as from just too much demand.  Apparently the investors that purchase the loans from lenders around the country got overwhelmed as the volume set record highs so they raised rates.  Even with the increase, rates are still historically good.  

In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!  

Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
Save Commission On Your Home Sale Without Sacrificing Service! See how- FairCommissionRates.com

Payments On Typical St Charles County Home Over 13 Percent Cheaper Today Than Year Ago

The typical median-priced existing home sold for $233,000 in February 2019 and a year later, as the chart below shows, in February 2020 the typical median-priced home sold for $235,000, an increase of just under 1%.  Here’s the beauty though, thanks to interest rates dropping from an average of 4.41% a year ago to 3.29% today, even with the slight increase in price, the typical St Charles County home costs less today than a year ago!  Not just by a little either as the payment on the median price a year ago (no money down) would have been $1,178.18 at the current rates at the time, the payment today, at the higher price but lower rates would be just $1,019.15, a savings of $159.03/month or 13.5%!  Oh, and just to show the “compound effect” of this, over the life of the loan, you will save $55,249 in interest.

So, what are you waiting for?  Buy a house!

St Charles County Existing Home Sales – Past 13 Months

(click on chart for live-interactive chart)

St Charles County Existing Home Sales - Past 13 Months

Why I’m Bullish On Real Estate For 2020

As you may have noticed, I’ve been pretty optimistic about the outlook for the real estate market this year however, that is not always the case as I call it like I see it.  The reason for my optimism is based upon what a true data geek like myself would base it upon, data!  So, what’s the data that has me believing 2020 will be a good year for the housing market in St Louis and beyond?  Several things:

  • As I have been reporting here for the past couple of years now, mortgage delinquency and foreclosure rates have continued to decline which show the strength of the economy as a whole as well as the housing industry.
  • As the US Economic Indicators charts below show, since peaking around 2010, the unemployment rate, 30-year mortgage rate and mortgage delinquency rates have all steadily declines to either record lows or at least the lowest rate in recent history.
  • As the St Louis unemployment, home prices and rent chart below shows, unemployment in St Louis has fallen to the lowest level in decades and the relationship between home prices and rents show home prices lagging behind rents indicating that we’ll likely see continued, good housing appreciation rates.
  • As the 30-year fixed rate mortgage chart below shows, mortgage rates are at near record low rates giving buyers much more buying power.  In my market update video I shared here a day or two ago I illustrate just how much more buying power this translates into.
  • As I reported last week, St Louis home sales last year managed to top the prior year slightly, in spite of the low-inventory market we have been stuck in.  This shows the demand that is out there.
  • As I reported earlier this week, the home sales trend for 2020 in St Louis is in positive territory has well.

St Louis Real Estate Market Update VIDEO – February 2020 – Home Sales Trend Going Into 2020 Looking Good

The St Louis real estate market is off to a good start for 2020! The home sales trends going into this year are encouraging and, coupled with the strong economy we are in, has me very confident that 2020 is going to be a great year for the St Louis real estate market! MORE buying power! In addition, long term mortgage interest rates just dropped again giving buyers more buying power!  See the example in my video of just how much less a home will cost you today payment-wise than 14 months ago, even after appreciation has pushed prices up. Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video.

In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!  

Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

Sell Your Home For The Highest Price In The Least Amount of Time!  See how- STLSellersAdvantage.com 
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St Louis Real Estate Market Update VIDEO – January 2020 – The market finished 2019 strong!

The St Louis real estate market had a strong finish in 2019! One of the many great things for the St Louis housing market about a strong finish in 2019 is that 2020 begins strongly as well!  January will be a key month in terms of whether the trend will continue or whether December’s uptick was an isolated event. Another encouraging thing about the real estate market is that long term mortgage interest rates remain low!  See in the video just how powerful this is!  How a house today will actually cost you less than a little over a year ago, even after factoring in home price appreciation! Find out more, as well as get information on some of St Louis’s best resources for home buyers and sellers in our just-released market update video.

In our MORE, REALTORS, 5 Minute St Louis Real Estate Market Update video below, you can quickly and easily get the latest information on home prices, home sales, trends and more for the entire St Louis area!  

Thinking of selling and want to know if your neighborhood is a seller's market? Contact us and we'll  answer that question for you.
You can now subscribe to our ITUNES Podcast Channel to receive our updated market videos via podcast automatically each week! Just click here, then click on "Subscribe Free".) St Louis Real Estate Market Update Video - St Louis Home Prices

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St Louis Area Home Sales For 2019 Fall A Little Short of 2018

There were 27,076 homes sold in the St Louis 5-County Core market during 2019, a decline of 1.18% from 2018 when there were 27,399 homes sold.  As the STL Market Report below shows (available exclusively through MORE, REALTORS), the median price of homes sold during 2019 was $208,000, an increase of 5.85% from the year before.

Going into 2020, the inventory of homes for sale remains low and favors sellers.  Currently, the supply of homes for sale is just over 2 months.

STL Market Report For The St Louis 5-County Core Market

STL Market Report For The St Louis 5-County Core Market

St Charles County Home Sales Trend On The Rise After Hitting Bottom in September

The home sales trend in St Charles County peaked in April 2017 with 6,118 homes sold in the 12-month period ended April 30, 2017.  Since then, the home sales trend fell to closer to the 6,000 home mark until hitting a near peak again in August 2018 with 6,111 homes sold in the 12 month period ending that month.  After that, the home sales trend in St Charles County has fairly consistently trended downward until hitting bottom in September with 5,759 homes sold in the 12-month period ended September 30, 2019, nearly a 6% fall in home sales from the recent peak. This marked the lowest home sales trend for St Charles County since April 2016.

The St Charles County home sales trend has reversed course…

The good news is, for the past two months, home sales in St Charles County, as the chart below illustrates,  have trended upward hitting 5,809 homes sold in the 12-month period ended November 30, 2019,  a 1.2% increase in the trend from August 2019.

St Charles County Home Sales Trend – Past 3 Years

(Click on chart for live, interactive chart)
St Charles County Home Sales Trend - Past 3 Years