St. Louis, MO Housing Market: What to Expect in 2025?

Name: St. Louis, MO Housing Market - Price Trend Analysis
Creator: Houzeo
License: https://www.houzeo.com/terms-of-use/

Overview

Supply

Demand

Buy or Sell

St. Louis Housing Market Overview

The St. Louis real estate market is highly competitive at the moment. The median home price in the city has surged dramatically by 22.4% year-over-year, to reach $240,000. Properties stay on the market for 24 days before they go under contract. However, only 369 homes were sold this month, which is a 12.4% decrease YoY. Despite this, the market shows remarkable growth.

St. Louis' housing market has options for various budgets. Here, you can find historic brick townhomes, mid-century modern ranches, and renovated urban lofts. Despite rising prices, values remain accessible. From the Gateway Arch to its many parks, St. Louis is a great blend of Midwestern affordability and metropolitan amenities.

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St. Louis Housing Supply

St. Louis attracts real estate investors due to its strong rental yields. The city's affordability also draws in first-time homebuyers. Currently, there are 977 homes for sale in St. Louis, MO. This is a modest 3.7% increase from last year, and it includes 565 new listings. With increased inventory, buyers have more choices. St. Louis' housing supply is 2.6 months, which reinforces the competitive conditions in the market.

Housing availability in the city follows seasonal patterns. More St. Louis houses for sale hit the market in spring and summer, as buyers and sellers hope to close before the year-end. So, buyers should act decisively to lock in a suitable property. Keep your eye out for points of negotiation, and request seller concessions if possible.

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St. Louis Housing Demand

The St. Louis, Missouri, real estate market shows intense competition at the moment. 32% of homes sell above list price. Meanwhile, 32.4% of homes sell below the asking price, which is a 4.8 percentage point increase from last year. The sale-to-list price ratio sits at 98.9%, an indicator that sellers mostly receive close to the asking price. However, there is some room for buyers to negotiate.

As a home seller, price your house strategically from the very beginning to avoid potential price cuts. You might need to adjust expectations given the rising percentage of price reductions. With increasing inventory, you should also expect some negotiation. To maximize your property's exposure in these conditions, consider listing your home on the Missouri MLS. If you're buying a home for sale in St. Louis, you might face competition for well-priced properties. So, act quickly on homes that meet your criteria.

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Strong
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Buyer’s Market

Seller’s Market

Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.

St. Louis Market: When to Buy or Sell?

The housing market in St. Louis shifts between competitive phases throughout the year. It generally aligns with trends in the Missouri housing market, but with local variations. While home prices in St. Louis are on the rise, seasonal factors affect market activity. When inventory improves in spring, buyers gain more options and leverage. When the number of listings peaks in summer, sellers benefit from more competition.

At 2.6 months, St. Louis' housing supply remains relatively tight, unlike the balanced conditions (5 - 6 months) of the US housing market. Buyers must move quickly despite modest inventory growth, while sellers can expect reasonable offers if they price accurately. These market insights can help you time your purchase or sale in St. Louis.

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Frequently Asked Questions

How has the average home price in St. Louis changed over the past year?

St. Louis' median home price has increased by 22.4% over the past year, to reach $240,000 at present. If you want to determine the value of your home and compare it to other properties in your area, use our free home value estimator.

What are the latest housing market predictions for St. Louis?

Home values in St. Louis should continue their strong upward trend in the coming months. Demand will likely remain robust despite limited inventory. Rising mortgage rates might moderate but not halt appreciation.

What's the average house price in St. Louis?

The average home price in St. Louis varies significantly by type and neighborhood. Costs typically range from $220,000 for single-family homes to $233,000 for condos. If you want to buy a house in the city, you can find cheap homes for sale in St. Louis within your budget.

Is this a good time to buy homes for sale in St. Louis, MO?

First, check St. Louis housing market trends for insights on demand and supply. This will help you figure out if it's a buyer's or seller's market. Sellers currently benefit from price appreciation and rapid sales. However, buying could be worthwhile if you find the right property and plan to stay long-term.

What are the current St. Louis housing market trends?

The housing market in St. Louis, MO, shows robust growth patterns. Properties move quickly, within a median of 24 days. Competition remains despite improving inventory levels. If you want to buy or sell in St. Louis, check the city's housing market trends to know when to act.

When will the housing market in St. Louis, MO, crash?

Market forecasts suggest that a crash remains unlikely. St. Louis home prices continue to rise at remarkable rates, which should continue despite higher interest rates.

How to buy a home in St. Louis?

Start with a clear budget and mortgage pre-approval. Then, browse St. Louis houses for sale. Finally, make your offer, secure the loan, and complete the closing process.

How can I list my home for sale in St. Louis, MO?

You can list your St. Louis home with a Missouri Flat Fee MLS listing service. High-tech sites like Houzeo assign the right paperwork based on your location. 🚀

What is the average mortgage rate for buyers in St. Louis?

The state-wide average mortgage rate fluctuates between 6.35% and 6.94%. However, rates depend on market conditions and your credit score. Always check current rates with lenders.

What is the cost of living in St. Louis, Missouri?

St. Louis' cost of living sits 11% below the national average. The city offers urban living at very affordable costs. Housing expenses remain accessible despite the recent appreciation, with a median price of $240,000. Utilities are also reasonably priced, with moderate seasonal demands. As a result, St. Louis attracts young professionals and families alike.

Important Legal Disclosures