Whats ahead this spring, supply is “in balance”

Whats ahead this spring, supply is “in balance”

Supply in St. Louis County has continually declined and remained relatively stable throughout 2013 with both a median and mode of four months of inventory.  Four months is generally recognized as a “stable” supply level, however teeters on the cusp of a housing shortage.  Sentiment around the industry seems to indicate that the market is poised for a busy spring which may result in increased demand and sales prices

 

 

 

Sales Price & Volume Increase in 2013

Sales Price & Volume Increase in 2013

There is no doubt 2013 was a great year for real estate in the St. Louis Market.  We saw increases in both the number of sales and the median sales price while experiencing a decline in home inventory.  Demand appears to have steadily increased.   A data sample from St. Louis County indicated a year over year increase in number of sales of 9.1%, from 12,800 units to 14,091 units; and an increase in Median Sales Price of 11.7%, from $134,000 to $151,900.

 

 

 

St. Louis County Median Housing Trends

St. Louis County Median Housing Trends

This graph represents the reported median home sales price for St. Louis County for 2009 through 2013 to date. To date we are showing an increase in median value of approximately 13% over last year!

Copyrights © 2015 Authority Appraisals, Inc.