Good news, St. Louis – the average sales price continues to be very strong! In July, the average price was $265,850 in July 2017 compared to $248,260 in July of 2016 – a 7.1% increase*!
Continued low interest rates and more buyers entering the market coupled with a lack of housing inventory (i.e. the total number of homes available for sale) is creating a great market in St. Louis. The economy is also helping with unemployment down and the stock market at record highs. This means homebuyers have more money to spend, which is good because they are having to compete for good homes.
Things are looking great across the country as well as home prices for the previous quarter are up stubstantially.
If you are considering selling your home, now is still as good as ever.
Questions?
Don’t hesitate to reach out with any questions! 636-224-4470
Thanks for reading!
–Will
*Data is pulled as of 8/29/17 for St. Louis County from the MARIS home sales stats. These numbers can change as Realtors who are slow to report closed sales may impact the number, though the further away from the end of the month the less of an impact changes will have (because almost all sales have been reported by now).