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Breaking Down the St. Louis Real Estate Numbers
Manage episode 155000961 series 1142665
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We are always looking for ways to educate you on the home buying and selling process. Today we are going to talk about the latest real estate statistics here in St. Louis so you can understand how to interpret our market data. Here are some of the key numbers.
Available inventory in St. Louis is down about 8%. When inventory is down and there are fewer choices for buyers, it pushes prices up a little bit. In addition to that decrease in inventory, the number of homes under contract is up 22%. At the same time, the median sales price is up only 1.2% and expired listings are up 52%.
What does this all mean? Well, people understand that supply is down and demand is up, but they are overpricing properties, causing those homes to sit and stay on the market. If you have been thinking of buying or selling, you need an agent who is informed about the market. One that can counsel you on pricing, and make sure you are not overpaying for your home, which could cause it not to sell.
If you have any questions for us, or want to dig deeper into the local numbers for your neighborhood, give us a call or send us an email. We look forward to working with you!
Available inventory in St. Louis is down about 8%. When inventory is down and there are fewer choices for buyers, it pushes prices up a little bit. In addition to that decrease in inventory, the number of homes under contract is up 22%. At the same time, the median sales price is up only 1.2% and expired listings are up 52%.
What does this all mean? Well, people understand that supply is down and demand is up, but they are overpricing properties, causing those homes to sit and stay on the market. If you have been thinking of buying or selling, you need an agent who is informed about the market. One that can counsel you on pricing, and make sure you are not overpaying for your home, which could cause it not to sell.
If you have any questions for us, or want to dig deeper into the local numbers for your neighborhood, give us a call or send us an email. We look forward to working with you!
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