The Spring Real Estate market has already begun. Spring is traditionally a very active time for real estate with more buyers out shopping for a new home. Limited inventory continues to impact the housing market with many properties selling very quickly and receiving multiple offers which is driving prices up. As we approach April, we anticipate the market to be even more active.
** St. Louis Housing Report – February 2017
The St. Louis real estate market had a boost in the median home price as compared to February of 2016. The median home price is up by 2% from $148,750 to $145,900.
Active listings in the MLS were down this January by 11% from 6,068 in 2/2016 to 5,395. There is currently 5.1 months of inventory down from the 5.9 months in 2/2016.
Limited inventory is continuing to affect the Days on Market. Houses are selling in an average of 109 days versus the 167 days in 2/2016.
If you would like to learn more about market activity in the St. Metro area, please “Get in Touch”, we would love to talk to you.
Data used in this report courtesy of Maris.
