Single Family Homes
In the St. Louis residential-detached housing market, September 2024 saw some noticeable shifts compared to the previous year. New listings increased by 11.7%, rising from 333 in September 2023 to 372 in September 2024, while pending sales also showed growth, climbing 13.1% with 251 homes under contract compared to 222 the previous year. Closed sales followed a similar trend, up 10.2% from 206 to 227. However, homes are taking longer to sell, as indicated by a 60.9% rise in the average number of days on the market, from 23 days in 2023 to 37 in 2024. Despite this longer selling period, prices remained stable, with the median sales price increasing slightly by 1.1% to $220,000 and the average sales price rising by 3.9% to $257,272.
Townhouse & Condominium
In the townhouse and condo market, there was a significant 45.6% increase in new listings, jumping from 68 in 2023 to 99 in 2024. However, buyer activity appeared to slow, with pending sales dropping by 9.3%, and closed sales falling sharply by 47.5%, with only 32 units sold in 2024 compared to 61 the previous year. Despite this, prices remained strong, with the median sales price rising 7.1% to $225,000. Townhouses and condos also stayed on the market longer, with the average days on market increasing by 11.1%, from 45 to 50 days.
This data highlights some key trends in the St. Louis housing market, with shifts in inventory, pricing, and time on the market, particularly within the townhouse and condo sector.
Recent Comments