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Now that summer is over and school is back in session, what is happening in the St. Louis real estate market?
A common trend that started in spring and carried through the summer was a weakness in inventory of great homes that are priced correctly. Renovated homes in the $500,000 and under price range were selling with multiple contracts and bidding wars. Those homes were priced right, marketed to the highest level, and they were all move-in ready.
In the upper end of the market, many areas are in a buyer’s market. Some of those areas have over a year of inventory. Why are these homes taking longer to sell? It really comes down to…