The median price of homes sold in the St Louis 5-County Core Market during the past 12-months was $205,000, an increase of 5.13% from the prior 12-month period when the median price was $195,000. As the STL Market Report (an exclusive report available only from MORE, REALTORS®) shows, home sales declined nearly 3 percent during the same period and the inventory remains low with a listing supply of just 2.53 months.
As the STL Market Chart at the bottom illustrates (also exclusively available only from MORE, REALTORS®), home prices in the St Louis 5-County Core Market have had the normal, seasonal, fluctuations but have been steadily trending upward over the past five years. Home prices peaked in June of this year at $230,000 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 we saw the same pattern with home prices peaking in June however last year from June to September home prices fell 9.33% and this year they fell 10.87%. This could perhaps be indicative of a little market correction coming with regard to home prices.
Continue reading “St Louis Area Home Price Appreciation Tops 5 Percent In Past Year“
