Today I wanted to give you an update on how our market has been doing over the last six months.
Today I wanted to give you an update on how the St. Louis area market has been doing for the last six months.
You may have been hearing that we are in a very critical time with inventory on the market. What does that mean, exactly? This means that fewer and fewer sellers are putting their homes on the market each month.
For March 2017, we were down 13.3% in number of listings versus March 2016. In February, it was down 22% from the prior year, so you can see that it’s been coming back up as the months go by, but it’s been difficult to find people who are ready to move, even though we have families forming who are ready to move out and buy a new house.
In March 2017, the average days a home stayed on the market was 52, which is down 7% from March 2016. In February 2017, that number was 63, which is down 13% from the previous February. So we’re looking good for this year. The number of days on market is very low, which means houses are selling very quickly and for top dollar.
Finally, the median sales price for homes has been up every month for the last six months. So now is a great time to list your home.
If you have any questions or you’re ready to buy or sell a home, please give me a call. I’d be happy to help!