St. Louis Area Real Estate Market - April 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 April 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?
With the median days on market in April 2021 at only 5 days, and the months supply of inventory at less than a month, it is clear that St. Charles County is still experiencing a strong sellers' market. Home values are increasing throughout the area, with the median sale price for April 2021 at $277,000 (up $17,000 from April 2020).
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?
St. Louis County is seeing the same trends as St. Charles County. With the median days on market in April 2021 at only 6 days, and the months supply of inventory also at less than a month, St. Louis County is in the midst of a strong sellers' market as well. While the increase in home values across the county does not appear as drastic in St. Louis County, the median sales price for April 2021, at $230,000, is still up $5,000 from April 2020.
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.
The St. Louis Area real estate market is still favoring sellers, yet it is also a great time to buy due to the low interest rates. Homes are selling for more that ever, and your home may be worth the most it has ever been. If you are thinking about selling, now may be the best time to do it. 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 by filling out the form below, so you can make the best decision for yourself and your family. Reach out today for a free, no obligation consultation with our St. Louis Area real estate experts!