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St Louis Housing Report April 2019

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St. Louis Housing Market Compared to April 2018

According to data released by Mid America Information Systems the April 2019 median sales price of residential single-family homes in St. Louis City and County was $195,000, reflecting a decrease of 1.1 percent from the prior April price. 

The year-to-date median sales price of 188,000 reflects an increase of 3.0 percent. The median sales price for townhomes/condos was $170,000, reflecting an increase of 3.0 percent over April of 2018 while the year-to-date median sales price of 165,000 reflects an increase of 3.5 percent.

In April of 2019 there were 1,592 single-family homes sold, reflecting a 8.8 percent decline from the prior April while the year-to-date number of homes sold of 5,175 reflects a decrease of 7.0 percent. During that same time there were 317 town-homes/condos sold reflecting a decline of 1.2 percent from the prior year. Year-to-date there were 965 sales, reflecting a decrease of 3.3 percent. 

In April 2019, there were 4,281 residential single-family listings marking a 21.8 percent declinefrom the prior year while there were 901 townhome/condo listings, reflecting a decline of 20.8 percent from the prior year.  April’s average days on market through closing stood at 45 days for 2019 as opposed to 37 days in the prior year while townhomes/condos increased from 50 to 56 average days on market compared to the same month last year .

Housing Indicators and Analysis

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Bottom Line Summary

Buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce.

Although hiring and wage gains have been below expectations, the national unemployment rate held firm at 3.8 percent. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active.

Read Why Aren’t There More Homes on the Market This Year
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