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Saint Louis Real Estate Market is Looking Up

Saint Louis Real Estate Market is Looking Up

photo credit: South Saint Louis Sunset via photopin

Saint Louis Real Estate Market is Looking Up
February 18
22:59 2016

Jan-2016-St-Louis-Assn-of-REALTORS-Housing-ReportThere’s been a lot of talk about the recent national press predicting that Saint Louis will be the second hottest real estate market in 2016. The Saint Louis Association of Realtors recently published some data to back this up.

Nobody wants to wade through a bunch of numbers, so here’s a breakdown of the major points and what they mean (It’s pretty simple):

Homes are selling for more

The median home price is $144,900. That’s 9% higher than January of 2015. Prices are climbing.

There are fewer homes for sale

There are 5976 homes for sale in the region (Saint Louis City and County). That’s 5% fewer than January of last year. That means there are more people trying to buy fewer homes for sale. That means homes are selling for higher prices.

The market is moving

There are 5.7 months of inventory for sale in Saint Louis. That means that when you look at how many homes sell in the region each month, everything would be sold in 5.7 months (assuming no new homes went up for sale). The same time last year, we were looking 7.5 months. Homes are selling.

Homes are selling faster

The average home was on the market (up for sale) for 126 days in January, compared with 180 last year. That means homes are selling quicker than they did last year.

More people are buying

In January 2016, 1040 homes sold, compared to 846 in January 2015. More people are buying.

I thought it would be helpful to simplify all the information that’s flying around, so you can get a better idea of what’s going on in the Saint Louis Real Estate market. Give me a call (314-265-0015) or email (jeff@claritystreetrealty.com) if you have any questions or if you’d like specific information on an area or neighborhood.

Click the image to the right for more details and the full report or click here to download the report.

photo credit: South Saint Louis Sunset via photopin (license)

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About Author

Jeff Steinmann

Jeff Steinmann

Hi, I'm Jeff Steinmann, the creator of Saint Louis Life. I created Saint Louis Life because over the 16 years I've lived in this city, I've fallen in love with the architecture, entertainment, opportunity, and most of all, the people. I wanted to create a place to highlight everything that's great about this city. In addition to being a fanatical advocate for Saint Louis, I'm an author, real estate investor and licensed REALTOR.

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