Curious about the St. Louis Real Estate Market?

Market Trends

Curious about how the St. Louis Real Estate Market is performing? 

Here is the combined January 2019 Market Action Report for Jefferson and St. Louis Counties

Property Sales - January Property sales were 947, down -12.2% from 1,078 in January of 2018 and -24.0% lower than the 1,246 sales last month. January 2019 sales were at their lowest level compared to January of 2018 and 2017. January YTD sales of 947 are running -12.2% behind last year's year-to-date sales of 1,078.

Prices - The Median Sales Price in January was $175,000, up 8.5% from $161,250 in January of 2018 and down -2.8% from $180,000 last month. The Average Sales Price in January was $244,441, up 6.9% from $228,665 in January of 2018 and up 0.4% from $243,564 last month. January 2019 Average Sales Price was at highest level compared to January of 2018 and 2017.

Inventory & Months Supply of Inventory (MSI) - The Total Inventory of Properties available for sale as of January was 3,421, down -18.9% from 4,217 last month and down -28.4% from 4,780 in January of last year. January 2019 Inventory was at the lowest level compared to January of 2018 and 2017. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2019 MSI of 3.6 months was at its lowest level compared with January of 2018 and 2017.

Market Time - The average Days On Market (DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was 80, up 8.1% from 74 days last month and down -1.2% from 81 days in January of last year. The January 2019 DOM was at its lowest level compared with January of 2018 and 2017.

Selling Price per Square Foot - The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the Selling Price per Square Foot is a more normalized indicator on the direction of Property values. The January 2019 Selling Price per Square Foot of $129 was equal to $129 last month and up 6.6% from $121 in January of last year.

Selling Price vs Listing Price - The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2019 Selling Price vs List Price of 93.5% was down from 93.8% last month and down from 94.0% in January of 2018.

Inventory / New Listings / Sales '- This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The number of New Listings in January 2019 was 1283, up 48.0% from 867 last month and down -23.5% from 1,677 in January of last year.

Interested in how your county, city or school district is performing in the current real estate market?  I’d be happy to send you a report specific to the area of your choice.  Send your request to info@HeyBobStL.net  with the subject line – Market Action Report.