KELLER WILLIAMS REALTY SAINT LOUIS REAL ESTATE REPORT ON THE STREETS WITH KELLER WILLIAMS: SUMMER HITS WITH LIMITED INVENTORY!
The Saint Louis real estate market has been hot in 2013. Active Inventory Levels have been far below average in most parts of Saint Louis. In fact, the number of newly listed properties in St. Louis County is down 5.05% year-to-date. Lack of new inventory and increased buyer activity — up 12% in the area — has led to a near record low “Months of Inventory” reading of 4. Four (4) months of inventory, according to the National Association of Realtors (NAR), is a solid Seller’s Market. With increased demand and lack of supply, we are beginning to see average sale price increase across the region. The average home in St. Louis county in May 2013 sold for $213,662. Last May (2012), the average sale was $188,426. To date in 2013, we’ve experienced a 2.32% increase in average sale price in the County and a 16.63% increase in St. Louis City. Another positive sign is the Average Days to sell a home in St. Louis. For 2013, we’ve seen a 13.45% decrease in “Days on Market” across St. Louis county. The average now stands at 95 days to sell a home. The St. Louis City average is 96 days.
Active Inventory Levels 8,000 6,000
5013
4,000 2,000 0 Jul-12
Oct-12
Jan-13
Apr-13
S A I N T L O UI S 314.677.6000 10936 MANCHESTER ROAD S A I N T
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