Newest St. Louis Housing Report 

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

Comments below from St. Louis REALTORS

U.S. existing-home sales rose 3.4% month-over-month and 2.9% year over-year
to a seasonally adjusted annual rate of 3.96 million units,
exceeding economists’ expectations for the month and marking the first
annual gain since July 2021, according to the National Association of
REALTORS® (NAR). Lower mortgage rates in late summer and early fall
helped sales increase across all four regions.

New Listings decreased 2.2 percent for Residential homes but increased
6.0 percent for Townhouse/Condo homes. Pending Sales decreased 1.5
percent for Residential homes but increased 3.2 percent for
Townhouse/Condo homes. Inventory decreased 10.9 percent for
Residential homes but increased 53.0 percent for Townhouse/Condo
homes.

Median Sales Price increased 12.2 percent to $282,000 for Residential
homes and 1.3 percent to $236,200 for Townhouse/Condo homes. Days on
Market decreased 3.3 percent for Residential homes but increased 65.2
percent for Townhouse/Condo homes.

The number of homes for sale continues to improve nationwide, climbing
0.7% month-over-month and 19.1% year-over-year to 1.37 million units
heading into November, for a 4.2-month supply at the current sales pace,
according to NAR. Despite a wider selection of properties on the market,
sales prices have remained strong at the national level, with a median
existing-home price of $407,200 as of last measure, a 4% increase from the 
same time last year.

ENCOMPASSING DATA FROM ST. LOUIS CITY AND COUNTY

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. You might want to consider using our newest hack DIY hack to find homes that have just lowered their price. If you are not on some kind of auto email alert, you will not be one of the winners in this current market.

What This Means for Sellers

As the above chart shows, (Year-to-Date) Sellers are getting 100.8% of asking price for homes and 99.4% of asking price 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

Real Estate Myths Uncovered

How to Understand the Law of Supply and Demand in Real Estate

It's simpler than you might think.

• Calculation: It's calculated by dividing the current number of active listings by the average sales per month.
• Low Inventory: If this number is low (e.g., 1-3 months), it means there are fewer homes for sale relative to buyer demand. This situation typically indicates a seller's market.
• High Inventory: A higher number (e.g., 6 months or more) suggests there are many homes available compared to the number of buyers, indicating a buyer's market.

Below are the current 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 home the median sales price increased by 10.4% compared to November of 2023. 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? 

Check out our easy-to-use hack  the Price Checker.

Want to see homes that have lowered their price in the last 3 days, 7 days, or in the past month?  We've got you covered!

Click on over to our Price Checker  for some DIY research! (We included a tutorial for you once you get there)

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

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

Just enter that in the box below and we will get back to you with your reports in the same day.  Questions?  Call 636-532-4200