Here are the latest numbers from the Saint Louis area real estate market.
My last update was in November, so today I wanted to bring you up to speed on what’s currently happening in our real estate market. Over the last 4 weeks, we’ve seen a substantial drop in inventory for Saint Louis County, Saint Louis City, and Saint Charles County.
Saint Louis County
- There were 818 active homes as of December 3. Four weeks ago, that number was 993, which means we’ve had a 17% drop in inventory.
- We have 1435 pending sales in Saint Louis County compared to 1607 four weeks ago.
- We are now at 0.61 months of inventory, which is down from 0.7.
- The average sales price went from $376,000 to $379,000.
Saint Charles County
- There were 275 active homes as of December 3. That’s down from 323 active homes, which is a 15% reduction.
- Pending sales and months of inventory have seen a similar drop.
- The average sold price went down from $344,000 to $340,000.
“The winter this year is going to be like no other.”
Saint Louis City
- They saw a 16% decrease in active listings.
- Pending sales and months of inventory had a similar decrease.
- The average sales price also dropped from $259,000 to $253,000.
Jefferson County
- The inventory stayed flat at 291 active homes as of December 3 compared to 289 last month.
- Pending sales, months of inventory, and average sales price have all also held steady.
People are definitely feeling these numbers from the buyer standpoint, but some sellers are noticing it too. Normally, we see a slowdown in demand going into the holidays, but we are not seeing that this year. If a good home goes on the market, we are getting multiple offers that are substantially over list price and have great terms. Some of my clients have offered $40,000 to $50,000 over list price and not get the house.
If you’re thinking about selling, you probably don’t want to wait until spring. The winter this year is going to be like no other because interest rates are staying steady. Even if they creep up a little, the demand from buyers is just through the roof.
If you have any questions about these numbers or real estate in general, feel free to call, text, or email me. I’d love to help. Happy holidays!