Median Price of Homes Sold in Franklin County In Past 12 Months Remain Flat And Sales Fall

The median price of homes sold in Franklin County during the 12 month period ended October 31, 2018, was $150,000 according to the STL Market Report™ from MORE™, REALTORS®.  As the STL Market Report™ below shows, this is exactly the same as during the prior 12-month period. During the most recent 12-month period, there were 1,282 homes sold in Franklin County, a decrease of 2.29% from the prior 12-month period.  There is currently a 4.13 month supply of homes for sale in Franklin County and listings have been on the market a median time of 98 days.

STL Market Report – Homes – Franklin County

(click on table to go to live report)

STL Market Report - Homes - Franklin County

St Louis Home Sales and Home Prices Are Both Up Over 5 Percent From A Year Ago

St Louis continues to enjoy a pretty robust real estate market, albeit it a challenging one for buyers due to the low inventory of homes for sale in most areas, with St Louis home sales, during the past 12 months, up over 5 percent from the prior 12-month period and St Louis home prices up over 5 percent for the same period as well.   As the table below shows, in the 5-county core St Louis market, there were 27,437 homes sold in the 12-month period ending May 31, 2017, an increase of 5.13% from the prior 12-month period when there were 26,099 homes sold.

Year-over-year for the month of May looks good as well…

As I frequently comment, looking at home prices and sales activity for a 12-month period is the best way to get a realistic view of the market, less affected by timing of sales due to weather, day of the week the last day of the month falls on etc, it’s still worth looking at the most recent month and comparing it to the prior month, as well as prior year, to help spot trends or changes in the trend.  With this in mind, as the chart below shows, for the St Louis core market there were 3,070 homes sold in May, 2017, an increase of 21.2% from the month before when there were 2,533 homes sold, and an increase of just under 1% from May 2016 when there were 3,042 homes sold.  As the chart also reveals, homes sold in St Louis during May, 2017 were sold for a median price of $185,000, an increase of 2.8% from the month before when the median sales price was $180,000 and a slight increase of just one-half of one-percent from May 2016 when the median price St Louis homes sold for was $184,000.

Franklin County has the largest increases in home prices and sales during past 12 months…

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Which St Louis Area County Saw Biggest Increase In Home Prices & Sales During 2016?

As I have reported over the past couple of days, the St Louis MSA as well as all of the counties that make up the St Louis, Missouri house market, saw an increase in home sales and prices during 2016 from the year before.  But which county fared the best during 2016, seeing the highest increase in the median price of homes sold as well as the biggest increase in the number of homes sold?  Well, at the top of the list is Franklin County.

During 2016, the median price of homes sold in Franklin County was $146,500, an increase of 10.98 percent from 2015 when the median home price of homes sold in the Franklin County was $132,000, according to MORE, REALTORS and depicted in the table below.  There were a total of 1,215 homes sold in Franklin County during 2016, an increase of 10.15 percent from 2015 when there were 1,103 homes sold.  As the chart below the table illustrates, St Louis home prices and sales have been trending upward at a fairly consistent rate over the past two years.

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What homes are selling in St. Louis?

what homes are selling in st louis?By: Dennis Norman

Lately the news on the real estate market has been a little more optimistic and almost encouraging at times.  Most of the news and stats are national or regional and, as I and others have said many, many times, all real estate is local.  So what’s going on in the St. Louis market and more specifically, what is selling here?

In putting together stats for this post I included data from the following areas: