Here’s what buyers and sellers need to know about our housing market.
What’s happening in St. Louis’ real estate market? Things have been changing lately, so we want to look at recent data and see what it tells us about where our market is heading.
On April 1, 2022, St. Louis County had 587 active listings. As of June 17, 2022, we had 921 active listings. This is partially due to seasonality—inventory typically rises during the spring and summer months. Our market had 1,301 pending listings in April and 1,574 in June. Pendings are increasing, but not as quickly as active listings. This means our inventory should increase a little bit, which would be healthy for our market.
In April 2022, we only had 59 price reductions from the previous week, which is very low. Meanwhile, June 2022 saw 115 price reductions. This number has steadily increased since April, and our buyers are noticing. Despite this, the average sales price is still rising. The average price was $364,000 in April and $377,000 in June.
“Our inventory should increase, which will be healthy for our market. ”
Our market is changing, but if your home is well-kept and prepared for the market, you can still get a fantastic deal. For example, our most recent listing sold for 109% of its list price. The market is balancing out, but buyers and sellers still have plenty of opportunities.
If you need help getting your home ready for market or have any questions, please call or email us. We’d look forward to hearing from you!
