St Louis Market Trends

Newest St. Louis Housing Report 

main stats page

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

Comments below from St. Louis REALTORS

U.S. existing-home sales declined for the third consecutive month, as
higher mortgage rates and rising sales prices hindered market activity
during what has traditionally been one of the busiest months of the year.
According to the National Association of REALTORS® (NAR), sales of
previously owned homes dipped 0.7% month-over-month and 2.8% year-
over-year, to a seasonally adjusted annual rate of 4.11 million units.

New Listings decreased 7.6 percent for Residential homes but increased
18.7 percent for Townhouse/Condo homes. Pending Sales decreased 5.5
percent for Residential homes but increased 21.4 percent for
Townhouse/Condo homes. Inventory decreased 3.7 percent for Residential
homes but increased 42.1 percent for Townhouse/Condo homes.

Median Sales Price increased 6.8 percent to $329,900 for Residential
homes and 5.0 percent to $236,250 for Townhouse/Condo homes. Days on
Market decreased 4.3 percent for Residential homes but increased 32.0
percent for Townhouse/Condo homes. Months Supply of Inventory
remained flat for Residential homes but increased 46.7 percent for
Townhouse/Condo properties.

Nationally, total housing inventory grew 6.7% month-over-month to 1.28
million units heading into June, for a 3.7 months’ supply at the current sales
pace, according to NAR. However, the increase in supply has yet to temper
home prices, which have continued to rise nationwide. At last measure, the
median existing-home price climbed to $419,300, a 5.8% increase from the
same period last year and a record high for the month

What Sellers Are Getting for Their Homes

percent of list price received

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 101.0% of their asking price for homes and 99.6% 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

Everything comes down to supply and demand. The graph below 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:

Inventory Chart

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

months of supply st louis county

    months of supply 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?

quick stats

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 8.5 % 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

University City
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"