St Louis Area Market Update – March 2022
The stats just came out so I decided to tell you about the housing market in St. Louis County and City for the month of February from a St Louis Original, Imos Pizza. Needless to say we were a bit hungry by the time we were finished with this month’s update. Here are the stats from From February.
Year over year in February 2022, median home sales prices are up 1.3%. The statistics show that in February we are only saw a small increase in median price, however, I will tell you that I’m seeing 10% increase in pricing for my listings and for my buyers in many areas in St. Louis.
Days on Market
In addition these properties sold faster. The average days on market in February 2021 was 40, but February 2022 was 29.
The number of homes sold decreased. In February 2021, there were roughly 1,145 homes sold, whereas in February 2022, there were only 1073.
I’d definitely say we are still in a seller’s market! In February 2022 the inventory of homes for sale dropped 22.7% from February 2021. Houses for sale are still getting multiple offer and there are still many buyers in the market for a home.
Some things our team has been experiencing in the market is buyers having to bid way over the list price…this could be $20,000 and even as much as $70,000 over in order to get under contract on a home. And, our sellers have been very happy with the prices they are getting for their homes.
If you’re thinking of buying or selling real estate in 2022, we would love to sit down with you and help you make a plan. We understand that the process can be overwhelming, and we’re ready to help you every step of the way because you are the heart of our business!