St Charles County Home Prices Increase By Over 6 Percent In Past Year

The median price of homes sold in St Charles County during the past 12-months was $243,900, an increase of 6.09% from the prior 12-month period when the median price was $229,900.  As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined over 5 percent during the same period and the inventory remains low with a listing supply of just 2.37 months.

As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in St Charles County have had the normal, seasonal, fluctuations but have been steadily trending upward over the past five years.  Home prices peaked in August of this year at $257,500 and have been slipping into the normal “winter lull” and will continue to slide until around January or February when they typically bottom out.   Last year, home prices peaked in June then fell 4.2% by September and this year, even though home prices peaked just last month, have fallen over 5% already since.  I expect home prices in St Charles County will see some correction going forward and anticipate less of a spike in home prices come spring than we saw last year.  Last year, in St Charles County, prices increased by nearly 14% in the 4-month period from the seasonal low in February to the peak in June.

St Charles County vs St Louis County Home Price Appreciation

Since the announcement of the Better Together plans to merge the County and City of St Louis together into one big “Metro City”, there has been a lot of talk about the impact this would have on the St Louis real estate market. I’ve had several conversations with people in the real estate industry that feel St Charles County, as well as some of the other surrounding counties, will benefit if the Better Together plan succeeds.  Their optimism is based upon the belief that, given what appears to be a tremendous groundswell of opposition to the plan from residents of both St Louis City and St Louis County, that, if it passes, many will flee the new Metro City.

Obviously, only time will tell as to whether the Better Together Plan will even get the required number of signatures on the petition, if so, then whether the voters pass it.  It is only then, in the subsequent months and years afterward that we will really be able to see just what impact, favorably or negatively, it has on the St Louis real estate market.  For now, however, it seemed a good time to take a look at the St Charles County and St Louis County real estate markets and compare them.