Housing Market

St. Louis (December 18, 2018) – The real estate market for the month of November is known to be one of the slower sales months nationwide and looking at the housing market for what was a colder than usual November in St. Louis, 2018 seems to be no exception. According to Mid America Regional Information Systems (MARIS), single family homes were selling faster in November 2018 at 20 days on market (versus 24 days the prior year) and for more money with a median sale price of $175,000, up $5,000 from the prior year. That said, the number of homes sold in November 2018 saw a decrease of 6% with 1,493 sales in 2018 compared to 1,593 in November of 2017. Overall, inventory levels increased with 2.79 months (versus 2.61 in 2017) in spite of the fact that active listings held steady at 4,172 compared to 4,156 listings in 2017 and new listings decreased by 13% at 1,490 compared to 1,689 in 2017. So, what can we expect from the St. Louis housing market as 2018 draws to a close?