Newest St. Louis Housing Report 

These figures compare real estate activity in August 2024 to August 2023

Comments below from St. Louis REALTORS

U.S. existing-home sales increased for the first time in five months, as lower mortgage rates and rising supply helped boost market activity. According to the National Association of REALTORS® (NAR), sales of previously owned homes rose 1.3% month-over-month to a seasonally adjusted annual rate of 3.95 million units, exceeding economists’ expectations and ending the downward trend of recent months.

New listings decreased 17.4% for residential homes but increased 1.8% for townhouse/condo homes. Pending sales decreased 5% for residential homes and 17.8% for townhouse/condo homes. Inventory decreased 13.4% for residential homes but increased 53.2% for townhouse/condo homes.

Median sales price increased 7% to $311,000 for residential homes and remained flat at $225,000 for townhouse/condo homes. Days on market increased 8.7% for residential homes and 50% for townhouse/condo homes. Months supply of inventory decreased 10% for residential homes but increased 60% for townhouse/condo homes.

Nationally, total housing inventory edged up 0.8% from the previous month to 1.33 million units heading into August, for a 4-month supply at the current sales pace, NAR data shows. Although inventory is up nearly 20% compared to the same time last year, demand continues to outpace supply, putting upward pressure on sales prices. According to NAR, the nationwide median existing-home price rose 4.2% year-over-year to $422,600 at last measure, marking the 13th consecutive month of annual price increases.

What Sellers Are Getting for Their Homes

What This Means for Buyers

If you're a buyer, you may want to act fast if you see a home that you like and can afford. You'll most likely face competition from other buyers who are looking for similar properties. As you can see from the most recent chart above, Sellers have been getting what they ask for. You may have better opportunities with homes that have been on the market longer than normal stats show which is usually due to inaccurate pricing initially. There are Sellers who have lowered their price. The challenge for you, the Buyer, is being aware when that happens. In our opinion, it does not look like the tight inventory of homes is going to change in the near future. If you are not on some kind of auto email alert, you will not be one of the winners in this current market. Sign up for your search and don't be left behind.

What This Means for Sellers

As the above chart shows, (Year-to-Date) Sellers are getting 101.1% of their asking price for homes and 99.5% for condos. If you're a seller, you may want to take advantage of the low inventory and high demand and list your home now. You may be able to get a good price for your home and sell it quickly. However, you may also have to deal with lower appraisals, stricter inspections, or contingency clauses from buyers who are trying to protect themselves from overpaying or buying a faulty home. Don't over-price your home!

Whether You're a Buyer or Seller We Have Free Guides to Read or Download Your Own Copy Here

Basic Real Estate Principles for All Markets

In real estate, the term "months of inventory" refers to the amount of time it would take to sell all the current listings on the market, assuming no new listings are added. This metric is calculated by dividing the total number of homes for sale by the number of homes sold in a given period, typically a month.

​For example, if there are 3,000 homes listed for sale and 1,000 homes sold in a month, the months of inventory would be 3 months. Everything comes down to supply and demand. The graph below shows what you need to know (regardless where you live) because this applies to the real estate market everywhere. This is what drives prices up or down and shows you what type of market your area is experiencing.

Below is the months of supply charts for St. Louis and St. Charles County

Whether you're interested in the St. Louis or St. Charles area, the supply of homes is still low.
That's why home prices keep going up and why competition is still very much in the picture.

Will Home Prices Start to Go Down?

If, and when they do, it will probably be very gradual.  As you can see in the above image median home sale prices increased by 6.82 % compared to last year.
The question is  how many buyers are tracking prices closely and are prepared to pounce on an opportunity? The challenge for buyers is to be able to react quickly when a price reduction occurs. How can you find out if a home has recently dropped in price so you can react? 

Simple! Start saving your searches and make sure you are getting automatic notifications when prices drop.

Attention Data Geeks and Chart Lovers Keep Scrolling for More

The charts below will show you month by month over the past 3 years how many new listings came on the market on a monthly basis.

If you put your mouse over the graph lines you will see the actual numbers and how they change month to month. This data is refreshed continuously so mark this page and come back in the future to see the trends.

St. Louis County New Listings

St. Charles County New Listings

St. Louis City Median Sales Price 3 Bedroom Home Over the Last 5 Years

The charts below are interactive.  As you move your cursor (or finger on mobile devices)on the chart line you'll see the median price for each month going
back to 2016.

St. Louis City Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell

St. Louis County Median Sales Price 3 Bedroom Home
Over the Last 5 Years

St. Louis County Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell

St. Charles County Median Sales Price 3 Bedroom Home
Over the Last 5 Years

St. Charles County Median Days on Market During the Same 5 Year Period
How Long it Took a Home to Sell

Links to More Communities for Median Prices 5 Year Period

Ballwin
Chesterfield
Wildwood
Brentwood
Maplewood
University City
Ladue
Kirkwood
Central West End

Finding Homes for You Leads with Data

How can you know the trends and the pulse of any market without timely data?  You can't. If you would like to know more about a particular market we can provide you with so much more. To get started just tell us the basic items you need as outlined in the image below:

We Will Send You These Reports

Median Sales Price

Days on Market

Percentage the Sellers are Getting for Home

Just put your question or comment in the form below and we will email you the information

Example: "Looking for 4 bedroom home with 2+ bathrooms in Parkway School District"