St. Louis Area Real Estate Market - June 2021
Here is a quick look at the local St. Louis area housing market, residential resale only. All data was gathered from the local St. Louis MLS for the month of June 2021. Note that the St. Louis area real estate market statistics are analyzed in two different graphics: St. Louis County and St. Charles County.
Let's start first with the St. Charles County market.
What does this mean for the St. Charles County Real Estate Market?
The median days on market in June 2021 continues to stay low at just 5 days. The months supply of inventory is still trending downward, sitting at 0.47 months which is an almost 50% decrease in time over June 2020. This tells us that our sellers' market is continuing in the St. Charles County area. We can see from the $25,000 increase in median home sale price over last year, that home values are still on the rise. If you are considering selling a home in St. Charles County, now may be the time to get the most from your sale and take advantage of the current market!
Now, let's take a look at the St. Louis County real estate market.
What does this mean for the St. Louis County Real Estate Market?
In St. Louis County, the numbers may look different, but the trends remain the same: time on market is going down while home values are going up. Much like St. Charles County, the median days on market has remained fairly consistent for several months in a row. It currently sits at 6 days, but this is a drastic decrease from June 2020, when the median days on market for St. Louis County was 19 days. The three year data comparison for months supply of inventory shows a continuing drop in time as well. The sellers market continues strong for St. Louis County and home values are still increasing, with June 2021 seeing a $12,000 increase in median sale price over June 2020. If you are considering selling a home in St. Louis County, now is still a great time to take advantage of the current market conditions and get more for your home!
Knowing how to read and interpret this data is important. Here are explanations of the charts above:
- Number of Sales - This is the total number of home sales for the month.
- Median Sale Price - This is the median, or middle, sale price of all homes that sold in a particular month.
- Median Days on Market - Days on market is the amount of time it takes for a home to go under contract. The number reported is the median, or middle number, of all homes listed for the month.
- Months Supply of Inventory - This is a calculation that helps to quantify supply and demand in the housing market. This number tells you how long it would take to burn through the current inventory of homes for sale, if new homes stopped hitting the market completely. This number helps us to understand if the current market is favoring buyers or sellers.
In both St. Charles and St. Louis County, the data shows us that the market is still favoring home sellers. Time on market continues to trend downward while median sales prices continues to move upward in both counties. Right now, sellers are seeing the advantages of current conditions.
As we all know, markets shift; it is not a matter of if, but when. If you are curious what your home is worth right now, we would be happy to provide you with a free market analysis, so you can make the best decision for yourself and your family.
Even through this strong sellers' market, our team has continued to secure contracts for our buyers, and get them into their perfect home. Buying in a sellers market can be tough at times, but our team has the knowledge, experience, and resources to find you the home you have been searching for.
Whether you are looking to sell, buy, build, or invest, our team of St. Louis area real estate experts have the knowledge and experience to handle all of your real estate needs with utmost care and attention. Reach out today for a free, no obligation consultation with a member of our team to discuss how we can serve you today!