St. Louis Housing Report March 2018
The St. Louis Housing Report March 2018 just released by the St. Louis REALTORS® states, “St. Louis’ stubborn late winter slows new listing inventory and continues to drive average sales price up.”
The March 2018 figures for new home listings coming on the market are down 14% compared to this time in 2017. In 2017 we had a relatively early spring with warmer temperatures as to compared to this year’s “is spring ever going to come” cooler temperatures. This lack of listings have impacted median prices which are up 4% compared to last year at this time.
Looking ahead, buyers will have to act quickly when they find their dream home.
“With even less homes available in a seller’s market, buying a home can become a fast-paced and competitive activity” said St. Louis Realtors® President Marc Levinson. “It’s not uncommon in a seller’s market to have multiple offers on a single property. If you want to improve your chances of a successful home search, it’s important to work with a St. Louis REALTOR® every step of the way.”
If you’re a potential buyer hang in there and read our report on When Do the Most Homes Go on the Market?